VISION SMARTS: what changed
Two financial 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 SMARTS
Largest movements
- Tangible fixed assets -€16,522
down €16,522 (-53.4%), from €30,958 to €14,436
of which Furniture and vehicles: -€15,929
- Receivables within one year +€3,586
up €3,586 (+405%), from €885 to €4,471
- Tax, wage and social debts -€10,000
down €10,000 (-58.8%), from €17,000 to €7,000
of which Remuneration and social security: -€5,500
- Accrued charges and deferred income -€4,848
down €4,848 (-18.7%), from €25,955 to €21,107
- Other debts +€2,090
up €2,090 (+12.0%), from €17,363 to €19,453
- Trade debts -€1,119
down €1,119 (-68.8%), from €1,626 to €507
- Gross operating margin -€17,265
down €17,265 (-41.9%), from €41,213 to €23,949
- Depreciation -€5,249
down €5,249 (-21.1%), from €24,866 to €19,617
- Financial charges +€3,508
up €3,508 (+554%), from €633 to €4,141
- Taxes -€3,026
down €3,026, from €2,920 to -€106
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.
Derived cash bridge
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 | €105,431 | €91,371 | -€14,060 | -13.3% |
| Fixed assets | 21/28 | €31,958 | €14,436 | -€17,522 | -54.8% |
| Tangible fixed assets | 22/27 | €30,958 | €14,436 | -€16,522 | -53.4% |
| Plant, machinery and equipment | 23 | €593 | - | -€593 | |
| Furniture and vehicles | 24 | €30,365 | €14,436 | -€15,929 | -52.5% |
| Financial fixed assets | 28 | €1,000 | - | -€1,000 | |
| Current assets | 29/58 | €73,473 | €76,935 | +€3,462 | +4.7% |
| Amounts receivable within one year | 40/41 | €885 | €4,471 | +€3,586 | +405% |
| Other amounts receivable | 41 | €885 | €4,471 | +€3,586 | +405% |
| Cash at bank and in hand | 54/58 | €69,302 | €69,575 | +€273 | +0.4% |
| Deferred charges and accrued income | 490/1 | €3,285 | €2,889 | -€397 | -12.1% |
| Total equity and liabilities | 10/49 | €105,431 | €91,371 | -€14,060 | -13.3% |
| Equity | 10/15 | €35,983 | €35,799 | -€184 | -0.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,923 | €27,739 | -€184 | -0.7% |
| Amounts payable | 17/49 | €69,449 | €55,572 | -€13,877 | -20.0% |
| Amounts payable within one year | 42/48 | €43,493 | €34,465 | -€9,028 | -20.8% |
| Trade debts | 44 | €1,626 | €507 | -€1,119 | -68.8% |
| Suppliers | 440/4 | €1,626 | €507 | -€1,119 | -68.8% |
| Advances received on contracts in progress | 46 | €7,505 | €7,505 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €17,000 | €7,000 | -€10,000 | -58.8% |
| Taxes | 450/3 | €9,000 | €4,500 | -€4,500 | -50.0% |
| Remuneration and social security | 454/9 | €8,000 | €2,500 | -€5,500 | -68.8% |
| Other amounts payable | 47/48 | €17,363 | €19,453 | +€2,090 | +12.0% |
| Accrued charges and deferred income | 492/3 | €25,955 | €21,107 | -€4,848 | -18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,866 | €19,617 | -€5,249 | -21.1% |
| Other operating charges | 640/8 | €406 | €480 | +€74 | +18.2% |
| Gross operating margin | 9900 | €41,213 | €23,949 | -€17,265 | -41.9% |
| Operating profit (loss) | 9901 | €15,942 | €3,852 | -€12,090 | -75.8% |
| Financial charges | 65/66B | €633 | €4,141 | +€3,508 | +554% |
| Recurring financial charges | 65 | €633 | €4,141 | +€3,508 | +554% |
| Profit (loss) for the period before taxes | 9903 | €15,309 | -€290 | -€15,598 | |
| Income taxes | 67/77 | €2,920 | -€106 | -€3,026 | |
| Profit (loss) for the period | 9904 | €12,389 | -€184 | -€12,573 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,389 | -€184 | -€12,573 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.