VISMAN MANAGEMENT: 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.
VISMAN MANAGEMENT
Largest movements
- Receivables within one year +€105,860
up €105,860 (+1,383%), from €7,652 to €113,512
of which Other amounts receivable: +€105,860
- Tangible fixed assets -€97,974
down €97,974 (-7.2%), from €1.4m to €1.3m
of which Land and buildings: -€71,683
- Cash -€46,476
down €46,476 (-32.7%), from €142,100 to €95,624
mainly Receivables within one year (-€105,860) and Debts after one year (-€101,653)
- Debts after one year -€101,653
down €101,653 (-28.9%), from €352,061 to €250,408
- Reserves +€69,000
up €69,000 (+7.1%), from €977,603 to €1.0m
- Short-term financial debts +€65,922
new in 2025: €65,922
- Other debts -€39,991
down €39,991 (-88.8%), from €45,010 to €5,019
- Tax, wage and social debts -€31,123
down €31,123 (-16.6%), from €187,944 to €156,822
of which Taxes: -€46,124
- Gross operating margin -€105,222
down €105,222 (-11.7%), from €897,507 to €792,285
- Staff costs +€101,115
up €101,115 (+22.6%), from €447,920 to €549,035
- Taxes -€75,467
down €75,467 (-72.3%), from €104,334 to €28,867
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 | €1,842,659 | €1,798,798 | -€43,861 | -2.4% |
| Fixed assets | 21/28 | €1,371,452 | €1,273,478 | -€97,974 | -7.1% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €1,369,562 | €1,271,588 | -€97,974 | -7.2% |
| Land and buildings | 22 | €1,263,037 | €1,191,353 | -€71,683 | -5.7% |
| Plant, machinery and equipment | 23 | €99,507 | €65,944 | -€33,564 | -33.7% |
| Furniture and vehicles | 24 | €7,018 | €14,291 | +€7,273 | +104% |
| Financial fixed assets | 28 | €1,890 | €1,890 | = | 0.0% |
| Current assets | 29/58 | €471,207 | €525,319 | +€54,112 | +11.5% |
| Amounts receivable after more than one year | 29 | €290,000 | €290,000 | = | 0.0% |
| Other amounts receivable | 291 | €290,000 | €290,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €24,220 | €20,030 | -€4,189 | -17.3% |
| Stocks | 30/36 | €24,220 | €20,030 | -€4,189 | -17.3% |
| Amounts receivable within one year | 40/41 | €7,652 | €113,512 | +€105,860 | +1,383% |
| Trade receivables | 40 | €5,000 | €5,000 | = | 0.0% |
| Other amounts receivable | 41 | €2,652 | €108,512 | +€105,860 | +3,992% |
| Cash at bank and in hand | 54/58 | €142,100 | €95,624 | -€46,476 | -32.7% |
| Deferred charges and accrued income | 490/1 | €7,236 | €6,153 | -€1,083 | -15.0% |
| Total equity and liabilities | 10/49 | €1,842,659 | €1,798,798 | -€43,861 | -2.4% |
| Equity | 10/15 | €1,045,856 | €1,115,939 | +€70,083 | +6.7% |
| Contributions | 10/11 | €13,423 | €13,423 | = | 0.0% |
| Reserves | 13 | €977,603 | €1,046,603 | +€69,000 | +7.1% |
| Distributable reserves | 133 | €977,603 | €1,046,603 | +€69,000 | +7.1% |
| Profit (loss) carried forward | 14 | €54,830 | €55,914 | +€1,083 | +2.0% |
| Amounts payable | 17/49 | €796,803 | €682,858 | -€113,945 | -14.3% |
| Amounts payable after more than one year | 17 | €352,061 | €250,408 | -€101,653 | -28.9% |
| Financial debts | 170/4 | €352,061 | €250,408 | -€101,653 | -28.9% |
| Amounts payable within one year | 42/48 | €442,015 | €432,135 | -€9,880 | -2.2% |
| Current portion of amounts payable after more than one year | 42 | €31,067 | €31,653 | +€586 | +1.9% |
| Financial debts | 43 | - | €65,922 | +€65,922 | |
| Credit institutions | 430/8 | - | €65,922 | +€65,922 | |
| Trade debts | 44 | €171,943 | €166,669 | -€5,274 | -3.1% |
| Suppliers | 440/4 | €171,943 | €166,669 | -€5,274 | -3.1% |
| Advances received on contracts in progress | 46 | €6,050 | €6,050 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €187,944 | €156,822 | -€31,123 | -16.6% |
| Taxes | 450/3 | €145,126 | €99,002 | -€46,124 | -31.8% |
| Remuneration and social security | 454/9 | €42,819 | €57,820 | +€15,001 | +35.0% |
| Other amounts payable | 47/48 | €45,010 | €5,019 | -€39,991 | -88.8% |
| Accrued charges and deferred income | 492/3 | €2,728 | €316 | -€2,412 | -88.4% |
| Remuneration, social security and pensions | 62 | €447,920 | €549,035 | +€101,115 | +22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,203 | €113,434 | +€3,231 | +2.9% |
| Other operating charges | 640/8 | €14,644 | €12,308 | -€2,336 | -16.0% |
| Non-recurring operating charges | 66A | €27 | €4,794 | +€4,767 | +17,909% |
| Gross operating margin | 9900 | €897,507 | €792,285 | -€105,222 | -11.7% |
| Operating profit (loss) | 9901 | €324,714 | €112,714 | -€211,999 | -65.3% |
| Financial income | 75/76B | €147 | €63 | -€83 | -56.7% |
| Recurring financial income | 75 | €147 | €63 | -€83 | -56.7% |
| Financial charges | 65/66B | €16,524 | €13,827 | -€2,697 | -16.3% |
| Recurring financial charges | 65 | €16,524 | €13,827 | -€2,697 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | €308,336 | €98,951 | -€209,386 | -67.9% |
| Income taxes | 67/77 | €104,334 | €28,867 | -€75,467 | -72.3% |
| Profit (loss) for the period | 9904 | €204,002 | €70,083 | -€133,918 | -65.6% |
| Profit (loss) for the period to be appropriated | 9905 | €204,002 | €70,083 | -€133,918 | -65.6% |
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 17 October 2026 via checked.be.