VISIOTHERM: 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.
VISIOTHERM
Largest movements
- Tangible fixed assets +€4,362
up €4,362 (+47.4%), from €9,202 to €13,564
of which Furniture and vehicles: +€6,587
- Receivables within one year -€2,571
down €2,571 (-8.4%), from €30,765 to €28,194
of which Trade receivables: -€4,359
- Profit (loss) carried forward -€7,143
down €7,143 (-19.3%), from €36,948 to €29,805
- Reserves +€6,621
up €6,621 (+22.6%), from €29,337 to €35,958
of which Distributable reserves: +€6,621
- Trade debts +€4,574
up €4,574 (+71.2%), from €6,424 to €10,998
- Short-term financial debts -€2,581
down €2,581 (-88.6%), from €2,912 to €331
of which Credit institutions: -€2,912
- Gross operating margin -€4,087
down €4,087 (-21.3%), from €19,205 to €15,118
- Taxes -€2,493
down €2,493 (-42.0%), from €5,937 to €3,444
- Depreciation +€1,054
up €1,054 (+57.7%), from €1,828 to €2,882
- Financial charges +€971
up €971 (+617%), from €157 to €1,129
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 | €100,390 | €101,638 | +€1,248 | +1.2% |
| Fixed assets | 21/28 | €9,202 | €13,564 | +€4,362 | +47.4% |
| Tangible fixed assets | 22/27 | €9,202 | €13,564 | +€4,362 | +47.4% |
| Plant, machinery and equipment | 23 | €8,424 | €6,200 | -€2,225 | -26.4% |
| Furniture and vehicles | 24 | €777 | €7,364 | +€6,587 | +847% |
| Current assets | 29/58 | €91,188 | €88,074 | -€3,114 | -3.4% |
| Amounts receivable within one year | 40/41 | €30,765 | €28,194 | -€2,571 | -8.4% |
| Trade receivables | 40 | €28,520 | €24,162 | -€4,359 | -15.3% |
| Other amounts receivable | 41 | €2,245 | €4,033 | +€1,788 | +79.6% |
| Cash at bank and in hand | 54/58 | €60,423 | €59,880 | -€543 | -0.9% |
| Total equity and liabilities | 10/49 | €100,390 | €101,638 | +€1,248 | +1.2% |
| Equity | 10/15 | €81,285 | €80,764 | -€522 | -0.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €29,337 | €35,958 | +€6,621 | +22.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,500 | €4,500 | = | 0.0% |
| Distributable reserves | 133 | €22,977 | €29,598 | +€6,621 | +28.8% |
| Profit (loss) carried forward | 14 | €36,948 | €29,805 | -€7,143 | -19.3% |
| Amounts payable | 17/49 | €19,105 | €20,874 | +€1,770 | +9.3% |
| Amounts payable within one year | 42/48 | €19,105 | €20,874 | +€1,770 | +9.3% |
| Financial debts | 43 | €2,912 | €331 | -€2,581 | -88.6% |
| Credit institutions | 430/8 | €2,912 | - | -€2,912 | |
| Other loans | 439 | - | €331 | +€331 | |
| Trade debts | 44 | €6,424 | €10,998 | +€4,574 | +71.2% |
| Suppliers | 440/4 | €6,424 | €10,998 | +€4,574 | +71.2% |
| Taxes, remuneration and social security | 45 | €7,783 | €7,560 | -€223 | -2.9% |
| Taxes | 450/3 | €7,783 | €7,560 | -€223 | -2.9% |
| Other amounts payable | 47/48 | €1,986 | €1,986 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,828 | €2,882 | +€1,054 | +57.7% |
| Other operating charges | 640/8 | €997 | €1,072 | +€75 | +7.5% |
| Gross operating margin | 9900 | €19,205 | €15,118 | -€4,087 | -21.3% |
| Operating profit (loss) | 9901 | €16,381 | €11,165 | -€5,216 | -31.8% |
| Financial income | 75/76B | €84 | €29 | -€54 | -64.8% |
| Recurring financial income | 75 | €84 | €29 | -€54 | -64.8% |
| Financial charges | 65/66B | €157 | €1,129 | +€971 | +617% |
| Recurring financial charges | 65 | €157 | €1,129 | +€971 | +617% |
| Profit (loss) for the period before taxes | 9903 | €16,308 | €10,065 | -€6,242 | -38.3% |
| Income taxes | 67/77 | €5,937 | €3,444 | -€2,493 | -42.0% |
| Profit (loss) for the period | 9904 | €10,371 | €6,621 | -€3,749 | -36.2% |
| Profit (loss) for the period to be appropriated | 9905 | €10,371 | €6,621 | -€3,749 | -36.2% |
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 22 October 2026 via checked.be.