VISION PLUS: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
VISION PLUS
Largest movements
- Cash -€14,662
down €14,662 (-75.4%), from €19,445 to €4,783
mainly Investment in fixed assets (net) (-€26,721) and Debts after one year (-€25,056)
- Tangible fixed assets +€7,772
up €7,772 (+2.7%), from €291,603 to €299,376
of which Plant, machinery and equipment: +€17,716
- Stocks and contracts +€4,954
up €4,954 (+4.8%), from €103,469 to €108,422
- Debts after one year -€25,056
down €25,056 (-29.1%), from €86,092 to €61,036
- Other debts +€16,390
up €16,390 (+40.4%), from €40,527 to €56,916
- Short-term financial debts +€8,747
new in 2025: €8,747
- Trade debts -€7,311
down €7,311 (-29.3%), from €24,949 to €17,638
- Profit (loss) carried forward +€6,697
up €6,697 (+3.8%), from €177,174 to €183,871
- Gross operating margin +€7,799
up €7,799 (+4.9%), from €158,462 to €166,261
- Staff costs +€4,252
up €4,252 (+3.8%), from €112,408 to €116,660
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €418,017 | €416,181 | -€1,837 | -0.4% |
| Fixed assets | 21/28 | €291,603 | €299,376 | +€7,772 | +2.7% |
| Tangible fixed assets | 22/27 | €291,603 | €299,376 | +€7,772 | +2.7% |
| Land and buildings | 22 | €214,543 | €204,599 | -€9,944 | -4.6% |
| Plant, machinery and equipment | 23 | €77,060 | €94,776 | +€17,716 | +23.0% |
| Current assets | 29/58 | €126,414 | €116,805 | -€9,609 | -7.6% |
| Stocks and contracts in progress | 3 | €103,469 | €108,422 | +€4,954 | +4.8% |
| Stocks | 30/36 | €103,469 | €108,422 | +€4,954 | +4.8% |
| Amounts receivable within one year | 40/41 | €3,500 | €3,600 | +€100 | +2.9% |
| Trade receivables | 40 | €500 | - | -€500 | |
| Other amounts receivable | 41 | €3,000 | €3,600 | +€600 | +20.0% |
| Cash at bank and in hand | 54/58 | €19,445 | €4,783 | -€14,662 | -75.4% |
| Total equity and liabilities | 10/49 | €418,017 | €416,181 | -€1,837 | -0.4% |
| Equity | 10/15 | €222,423 | €229,120 | +€6,697 | +3.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €26,649 | €26,649 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €24,789 | €24,789 | = | 0.0% |
| Profit (loss) carried forward | 14 | €177,174 | €183,871 | +€6,697 | +3.8% |
| Amounts payable | 17/49 | €195,594 | €187,061 | -€8,534 | -4.4% |
| Amounts payable after more than one year | 17 | €86,092 | €61,036 | -€25,056 | -29.1% |
| Financial debts | 170/4 | €86,092 | €61,036 | -€25,056 | -29.1% |
| Amounts payable within one year | 42/48 | €91,398 | €109,922 | +€18,524 | +20.3% |
| Current portion of amounts payable after more than one year | 42 | €25,413 | €25,597 | +€184 | +0.7% |
| Financial debts | 43 | - | €8,747 | +€8,747 | |
| Credit institutions | 430/8 | - | €8,747 | +€8,747 | |
| Trade debts | 44 | €24,949 | €17,638 | -€7,311 | -29.3% |
| Suppliers | 440/4 | €24,949 | €17,638 | -€7,311 | -29.3% |
| Taxes, remuneration and social security | 45 | €509 | €1,023 | +€514 | +100.9% |
| Taxes | 450/3 | €509 | €1,023 | +€514 | +100.9% |
| Other amounts payable | 47/48 | €40,527 | €56,916 | +€16,390 | +40.4% |
| Accrued charges and deferred income | 492/3 | €18,105 | €16,103 | -€2,002 | -11.1% |
| Remuneration, social security and pensions | 62 | €112,408 | €116,660 | +€4,252 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,814 | €18,949 | +€1,135 | +6.4% |
| Other operating charges | 640/8 | €8,133 | €7,252 | -€881 | -10.8% |
| Gross operating margin | 9900 | €158,462 | €166,261 | +€7,799 | +4.9% |
| Operating profit (loss) | 9901 | €20,106 | €23,400 | +€3,293 | +16.4% |
| Financial income | 75/76B | €100 | €87 | -€12 | -12.5% |
| Recurring financial income | 75 | €100 | €87 | -€12 | -12.5% |
| Non-recurring financial income | 76B | €100 | €87 | -€12 | -12.5% |
| Financial charges | 65/66B | €13,307 | €14,749 | +€1,443 | +10.8% |
| Recurring financial charges | 65 | €13,307 | €14,749 | +€1,443 | +10.8% |
| Profit (loss) for the period before taxes | 9903 | €6,899 | €8,737 | +€1,838 | +26.6% |
| Income taxes | 67/77 | €539 | €2,040 | +€1,501 | +278.5% |
| Profit (loss) for the period | 9904 | €6,360 | €6,697 | +€337 | +5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €6,360 | €6,697 | +€337 | +5.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.