VISOR-LUX: 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.
VISOR-LUX
Largest movements
- Receivables within one year -€874,567
down €874,567 (-87.1%), from €1.0m to €129,791
of which Other amounts receivable: -€494,758
- Current investments +€600,000
new in 2025: €600,000
- Cash -€48,951
down €48,951 (-45.8%), from €106,881 to €57,930
mainly Current investments (-€600,000) and Trade debts (-€394,064)
- Trade debts -€394,064
down €394,064 (-100.0%), from €394,224 to €161
- Reserves +€59,549
up €59,549 (+8.9%), from €667,017 to €726,566
of which Distributable reserves: +€63,809
- Tax, wage and social debts +€25,607
up €25,607 (+165.1%), from €15,508 to €41,115
- Other debts -€15,150
down €15,150 (-100.0%), from €15,150 to €0
- Gross operating margin +€27,548
up €27,548 (+51.6%), from €53,407 to €80,956
- Taxes +€8,904
up €8,904 (+69.8%), from €12,752 to €21,657
- Financial income +€2,274
up €2,274 (+11372000.0%), from €0 to €2,274
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 | €1,112,100 | €788,042 | -€324,058 | -29.1% |
| Fixed assets | 21/28 | €682 | €135 | -€547 | -80.2% |
| Tangible fixed assets | 22/27 | €682 | €135 | -€547 | -80.2% |
| Furniture and vehicles | 24 | €682 | €135 | -€547 | -80.2% |
| Current assets | 29/58 | €1,111,418 | €787,907 | -€323,511 | -29.1% |
| Amounts receivable within one year | 40/41 | €1,004,358 | €129,791 | -€874,567 | -87.1% |
| Trade receivables | 40 | €507,434 | €127,624 | -€379,809 | -74.8% |
| Other amounts receivable | 41 | €496,924 | €2,167 | -€494,758 | -99.6% |
| Current investments | 50/53 | - | €600,000 | +€600,000 | |
| Cash at bank and in hand | 54/58 | €106,881 | €57,930 | -€48,951 | -45.8% |
| Deferred charges and accrued income | 490/1 | €179 | €186 | +€6 | +3.6% |
| Total equity and liabilities | 10/49 | €1,112,100 | €788,042 | -€324,058 | -29.1% |
| Equity | 10/15 | €687,217 | €746,766 | +€59,549 | +8.7% |
| Contributions | 10/11 | €20,200 | €20,200 | = | 0.0% |
| Reserves | 13 | €667,017 | €726,566 | +€59,549 | +8.9% |
| Non-distributable reserves | 130/1 | €4,260 | €0 | -€4,260 | -100.0% |
| Reserves not available under the articles | 1311 | €4,260 | €0 | -€4,260 | -100.0% |
| Tax-exempt reserves | 132 | €19,162 | €19,162 | = | 0.0% |
| Distributable reserves | 133 | €643,595 | €707,404 | +€63,809 | +9.9% |
| Amounts payable | 17/49 | €424,883 | €41,276 | -€383,607 | -90.3% |
| Amounts payable within one year | 42/48 | €424,883 | €41,276 | -€383,607 | -90.3% |
| Trade debts | 44 | €394,224 | €161 | -€394,064 | -100.0% |
| Suppliers | 440/4 | €394,224 | €161 | -€394,064 | -100.0% |
| Taxes, remuneration and social security | 45 | €15,508 | €41,115 | +€25,607 | +165.1% |
| Taxes | 450/3 | €15,508 | €41,115 | +€25,607 | +165.1% |
| Other amounts payable | 47/48 | €15,150 | €0 | -€15,150 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €587 | €547 | -€40 | -6.8% |
| Other operating charges | 640/8 | €1,254 | €1,292 | +€38 | +3.0% |
| Gross operating margin | 9900 | €53,407 | €80,956 | +€27,548 | +51.6% |
| Operating profit (loss) | 9901 | €51,567 | €79,117 | +€27,551 | +53.4% |
| Financial income | 75/76B | €0 | €2,274 | +€2,274 | +11372000.0% |
| Recurring financial income | 75 | €0 | €2,274 | +€2,274 | +11372000.0% |
| Financial charges | 65/66B | €333 | €186 | -€147 | -44.1% |
| Recurring financial charges | 65 | €333 | €186 | -€147 | -44.1% |
| Profit (loss) for the period before taxes | 9903 | €51,234 | €81,206 | +€29,972 | +58.5% |
| Income taxes | 67/77 | €12,752 | €21,657 | +€8,904 | +69.8% |
| Profit (loss) for the period | 9904 | €38,482 | €59,549 | +€21,067 | +54.7% |
| Profit (loss) for the period to be appropriated | 9905 | €38,482 | €59,549 | +€21,067 | +54.7% |
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 7 October 2026 via checked.be.