VISION SYSTEMS: 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 SYSTEMS
Largest movements
- Current investments +€950,000
new in 2025: €950,000
- Cash -€622,869
down €622,869 (-96.1%), from €648,309 to €25,440
mainly Contributions, distributions and other (-€1.5m) and Current investments (-€950,000)
- Receivables within one year -€315,048
down €315,048 (-27.0%), from €1.2m to €853,282
of which Trade receivables: -€304,742
- Tangible fixed assets -€52,908
down €52,908 (-5.1%), from €1.0m to €974,497
of which Land and buildings: -€47,084
- Other debts +€1.0m
up €1.0m (+226.2%), from €460,308 to €1.5m
- Profit (loss) carried forward -€970,757
down €970,757 (-73.8%), from €1.3m to €345,367
- Trade debts -€109,625
down €109,625 (-78.0%), from €140,620 to €30,995
of which Suppliers: -€109,628
- Tax, wage and social debts +€76,608
up €76,608 (+67.2%), from €114,063 to €190,671
of which Taxes: +€81,582
- Debts after one year -€47,486
down €47,486 (-35.4%), from €134,077 to €86,591
- Taxes +€140,070
up €140,070 (+252.6%), from €55,443 to €195,513
- Other operating charges +€38,478
up €38,478 (+53.0%), from €72,568 to €111,047
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 | €3,153,885 | €3,140,305 | -€13,580 | -0.4% |
| Fixed assets | 21/28 | €1,293,674 | €1,239,290 | -€54,384 | -4.2% |
| Intangible fixed assets | 21 | €5,769 | €4,293 | -€1,476 | -25.6% |
| Tangible fixed assets | 22/27 | €1,027,405 | €974,497 | -€52,908 | -5.1% |
| Land and buildings | 22 | €895,478 | €848,394 | -€47,084 | -5.3% |
| Plant, machinery and equipment | 23 | €13,670 | €15,183 | +€1,513 | +11.1% |
| Furniture and vehicles | 24 | €95,473 | €91,207 | -€4,266 | -4.5% |
| Other tangible fixed assets | 26 | €22,783 | €19,712 | -€3,071 | -13.5% |
| Financial fixed assets | 28 | €260,500 | €260,500 | = | 0.0% |
| Current assets | 29/58 | €1,860,211 | €1,901,014 | +€40,803 | +2.2% |
| Stocks and contracts in progress | 3 | €37,097 | €52,795 | +€15,698 | +42.3% |
| Stocks | 30/36 | €37,097 | €52,795 | +€15,698 | +42.3% |
| Amounts receivable within one year | 40/41 | €1,168,330 | €853,282 | -€315,048 | -27.0% |
| Trade receivables | 40 | €992,262 | €687,520 | -€304,742 | -30.7% |
| Other amounts receivable | 41 | €176,068 | €165,762 | -€10,306 | -5.9% |
| Current investments | 50/53 | - | €950,000 | +€950,000 | |
| Cash at bank and in hand | 54/58 | €648,309 | €25,440 | -€622,869 | -96.1% |
| Deferred charges and accrued income | 490/1 | €6,475 | €19,497 | +€13,021 | +201.1% |
| Total equity and liabilities | 10/49 | €3,153,885 | €3,140,305 | -€13,580 | -0.4% |
| Equity | 10/15 | €2,253,624 | €1,282,867 | -€970,757 | -43.1% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Capital | 10 | €63,000 | €63,000 | = | 0.0% |
| Issued capital | 100 | €63,000 | €63,000 | = | 0.0% |
| Revaluation surpluses | 12 | €335,763 | €335,763 | = | 0.0% |
| Reserves | 13 | €538,737 | €538,737 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,300 | €6,300 | = | 0.0% |
| Legal reserve | 130 | €6,300 | €6,300 | = | 0.0% |
| Tax-exempt reserves | 132 | €210,500 | €210,500 | = | 0.0% |
| Distributable reserves | 133 | €321,937 | €321,937 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,316,124 | €345,367 | -€970,757 | -73.8% |
| Amounts payable | 17/49 | €900,261 | €1,857,438 | +€957,177 | +106.3% |
| Amounts payable after more than one year | 17 | €134,077 | €86,591 | -€47,486 | -35.4% |
| Financial debts | 170/4 | €134,077 | €86,591 | -€47,486 | -35.4% |
| Amounts payable within one year | 42/48 | €766,184 | €1,770,453 | +€1.0m | +131.1% |
| Current portion of amounts payable after more than one year | 42 | €51,193 | €47,486 | -€3,708 | -7.2% |
| Trade debts | 44 | €140,620 | €30,995 | -€109,625 | -78.0% |
| Suppliers | 440/4 | €140,620 | €30,992 | -€109,628 | -78.0% |
| Bills of exchange payable | 441 | - | €3 | +€3 | |
| Taxes, remuneration and social security | 45 | €114,063 | €190,671 | +€76,608 | +67.2% |
| Taxes | 450/3 | €70,278 | €151,860 | +€81,582 | +116.1% |
| Remuneration and social security | 454/9 | €43,785 | €38,811 | -€4,974 | -11.4% |
| Other amounts payable | 47/48 | €460,308 | €1,501,301 | +€1.0m | +226.2% |
| Accrued charges and deferred income | 492/3 | - | €393 | +€393 | |
| Remuneration, social security and pensions | 62 | €720,940 | €706,872 | -€14,068 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,821 | €96,811 | +€13,990 | +16.9% |
| Other operating charges | 640/8 | €72,568 | €111,047 | +€38,478 | +53.0% |
| Non-recurring operating charges | 66A | €902 | €3,071 | +€2,169 | +240.6% |
| Gross operating margin | 9900 | €1,634,905 | €1,641,459 | +€6,554 | +0.4% |
| Operating profit (loss) | 9901 | €757,674 | €723,658 | -€34,016 | -4.5% |
| Financial income | 75/76B | €14,488 | €7,715 | -€6,774 | -46.8% |
| Recurring financial income | 75 | €14,488 | €7,715 | -€6,774 | -46.8% |
| Financial charges | 65/66B | €16,221 | €6,617 | -€9,604 | -59.2% |
| Recurring financial charges | 65 | €16,221 | €6,617 | -€9,604 | -59.2% |
| Profit (loss) for the period before taxes | 9903 | €755,942 | €724,756 | -€31,186 | -4.1% |
| Income taxes | 67/77 | €55,443 | €195,513 | +€140,070 | +252.6% |
| Profit (loss) for the period | 9904 | €700,500 | €529,243 | -€171,257 | -24.4% |
| Transfer from tax-exempt reserves | 789 | €294,700 | - | -€294,700 | |
| Profit (loss) for the period to be appropriated | 9905 | €995,200 | €529,243 | -€465,957 | -46.8% |
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 11 October 2026 via checked.be.