Visser Construct: 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.
Visser Construct
Largest movements
- Receivables within one year +€51,297
up €51,297 (+52.7%), from €97,299 to €148,596
of which Trade receivables: +€131,193
- Cash +€24,601
up €24,601 (+140.1%), from €17,564 to €42,165
mainly Trade debts (+€49,491) and Net result for the year (+€28,796)
- Tangible fixed assets -€10,653
down €10,653 (-22.1%), from €48,186 to €37,533
- Trade debts +€49,491
up €49,491 (+2896.7%), from €1,709 to €51,200
- Reserves +€27,996
up €27,996 (+30.6%), from €91,410 to €119,406
- Debts after one year -€19,145
down €19,145 (-30.2%), from €63,382 to €44,237
- Tax, wage and social debts +€4,020
up €4,020 (+65.3%), from €6,158 to €10,178
- Gross operating margin +€44,725
up €44,725 (+522.6%), from €8,559 to €53,284
- Taxes +€10,018
up €10,018 (+3224.3%), from €311 to €10,329
- Depreciation +€7,350
up €7,350 (+222.5%), from €3,304 to €10,653
- Financial charges +€1,941
up €1,941 (+218.2%), from €890 to €2,830
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 | €238,183 | €303,537 | +€65,354 | +27.4% |
| Fixed assets | 21/28 | €121,587 | €110,934 | -€10,653 | -8.8% |
| Tangible fixed assets | 22/27 | €48,186 | €37,533 | -€10,653 | -22.1% |
| Furniture and vehicles | 24 | €48,186 | €37,533 | -€10,653 | -22.1% |
| Financial fixed assets | 28 | €73,401 | €73,401 | = | 0.0% |
| Current assets | 29/58 | €116,596 | €192,603 | +€76,008 | +65.2% |
| Amounts receivable within one year | 40/41 | €97,299 | €148,596 | +€51,297 | +52.7% |
| Trade receivables | 40 | €12,232 | €143,425 | +€131,193 | +1072.5% |
| Other amounts receivable | 41 | €85,067 | €5,171 | -€79,896 | -93.9% |
| Cash at bank and in hand | 54/58 | €17,564 | €42,165 | +€24,601 | +140.1% |
| Deferred charges and accrued income | 490/1 | €1,733 | €1,842 | +€110 | +6.3% |
| Total equity and liabilities | 10/49 | €238,183 | €303,537 | +€65,354 | +27.4% |
| Equity | 10/15 | €146,919 | €174,914 | +€27,996 | +19.1% |
| Contributions | 10/11 | €37,200 | €37,200 | = | 0.0% |
| Reserves | 13 | €91,410 | €119,406 | +€27,996 | +30.6% |
| Distributable reserves | 133 | €91,410 | €119,406 | +€27,996 | +30.6% |
| Profit (loss) carried forward | 14 | €18,309 | €18,309 | = | 0.0% |
| Amounts payable | 17/49 | €91,264 | €128,623 | +€37,358 | +40.9% |
| Amounts payable after more than one year | 17 | €63,382 | €44,237 | -€19,145 | -30.2% |
| Financial debts | 170/4 | €63,382 | €44,237 | -€19,145 | -30.2% |
| Amounts payable within one year | 42/48 | €27,882 | €84,385 | +€56,503 | +202.7% |
| Current portion of amounts payable after more than one year | 42 | €18,496 | €19,145 | +€649 | +3.5% |
| Trade debts | 44 | €1,709 | €51,200 | +€49,491 | +2896.7% |
| Suppliers | 440/4 | €1,709 | €51,200 | +€49,491 | +2896.7% |
| Taxes, remuneration and social security | 45 | €6,158 | €10,178 | +€4,020 | +65.3% |
| Taxes | 450/3 | €6,158 | €10,178 | +€4,020 | +65.3% |
| Other amounts payable | 47/48 | €1,520 | €3,862 | +€2,342 | +154.1% |
| Non-recurring operating income | 76A | €2,000 | - | -€2,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,304 | €10,653 | +€7,350 | +222.5% |
| Other operating charges | 640/8 | €612 | €676 | +€65 | +10.6% |
| Gross operating margin | 9900 | €8,559 | €53,284 | +€44,725 | +522.6% |
| Operating profit (loss) | 9901 | €4,644 | €41,954 | +€37,311 | +803.5% |
| Financial income | 75/76B | €464 | - | -€464 | |
| Recurring financial income | 75 | €464 | - | -€464 | |
| Financial charges | 65/66B | €890 | €2,830 | +€1,941 | +218.2% |
| Recurring financial charges | 65 | €890 | €2,830 | +€1,941 | +218.2% |
| Profit (loss) for the period before taxes | 9903 | €4,218 | €39,124 | +€34,907 | +827.6% |
| Income taxes | 67/77 | €311 | €10,329 | +€10,018 | +3224.3% |
| Profit (loss) for the period | 9904 | €3,907 | €28,796 | +€24,889 | +637.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,907 | €28,796 | +€24,889 | +637.0% |
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.