VISTATEC: 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.
VISTATEC
Largest movements
- Receivables within one year +€270,765
up €270,765 (+88.8%), from €304,923 to €575,688
of which Trade receivables: +€200,517
- Cash -€54,763
down €54,763 (-68.6%), from €79,805 to €25,043
mainly Receivables within one year (-€270,765) and Short-term financial debts (-€71,951)
- Stocks and contracts -€15,769
down €15,769 (-12.1%), from €129,818 to €114,049
- Debts after one year +€204,567
up €204,567 (+167.6%), from €122,076 to €326,643
- Short-term financial debts -€71,951
down €71,951 (-45.9%), from €156,721 to €84,770
of which Other loans: -€75,000
- Trade debts +€49,120
up €49,120 (+40.1%), from €122,436 to €171,556
- Current portion of long-term debt +€23,321
up €23,321 (+39.3%), from €59,326 to €82,646
- Staff costs +€97,319
up €97,319 (+13.9%), from €700,098 to €797,417
- Taxes -€35,384
down €35,384 (-80.8%), from €43,768 to €8,384
- Gross operating margin +€20,743
up €20,743 (+2.3%), from €884,843 to €905,586
- Depreciation +€16,567
up €16,567 (+36.6%), from €45,235 to €61,802
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 | €1,005,783 | €1,218,922 | +€213,139 | +21.2% |
| Fixed assets | 21/28 | €491,236 | €492,864 | +€1,627 | +0.3% |
| Intangible fixed assets | 21 | €8,232 | €6,050 | -€2,182 | -26.5% |
| Tangible fixed assets | 22/27 | €133,005 | €136,814 | +€3,810 | +2.9% |
| Plant, machinery and equipment | 23 | €11,983 | €8,773 | -€3,210 | -26.8% |
| Furniture and vehicles | 24 | €22,726 | €10,037 | -€12,689 | -55.8% |
| Leasing and similar rights | 25 | €83,150 | €99,394 | +€16,244 | +19.5% |
| Other tangible fixed assets | 26 | €15,145 | €18,610 | +€3,465 | +22.9% |
| Financial fixed assets | 28 | €350,000 | €350,000 | = | 0.0% |
| Current assets | 29/58 | €514,546 | €726,058 | +€211,512 | +41.1% |
| Stocks and contracts in progress | 3 | €129,818 | €114,049 | -€15,769 | -12.1% |
| Stocks | 30/36 | €129,818 | €114,049 | -€15,769 | -12.1% |
| Amounts receivable within one year | 40/41 | €304,923 | €575,688 | +€270,765 | +88.8% |
| Trade receivables | 40 | €161,699 | €362,216 | +€200,517 | +124.0% |
| Other amounts receivable | 41 | €143,224 | €213,472 | +€70,248 | +49.0% |
| Cash at bank and in hand | 54/58 | €79,805 | €25,043 | -€54,763 | -68.6% |
| Deferred charges and accrued income | 490/1 | - | €11,279 | +€11,279 | |
| Total equity and liabilities | 10/49 | €1,005,783 | €1,218,922 | +€213,139 | +21.2% |
| Equity | 10/15 | €374,276 | €381,281 | +€7,005 | +1.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €354,276 | €361,281 | +€7,005 | +2.0% |
| Distributable reserves | 133 | €354,276 | €361,281 | +€7,005 | +2.0% |
| Amounts payable | 17/49 | €631,506 | €837,640 | +€206,134 | +32.6% |
| Amounts payable after more than one year | 17 | €122,076 | €326,643 | +€204,567 | +167.6% |
| Financial debts | 170/4 | €122,076 | €326,643 | +€204,567 | +167.6% |
| Amounts payable within one year | 42/48 | €476,255 | €480,443 | +€4,187 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €59,326 | €82,646 | +€23,321 | +39.3% |
| Financial debts | 43 | €156,721 | €84,770 | -€71,951 | -45.9% |
| Credit institutions | 430/8 | €6,721 | €9,770 | +€3,049 | +45.4% |
| Other loans | 439 | €150,000 | €75,000 | -€75,000 | -50.0% |
| Trade debts | 44 | €122,436 | €171,556 | +€49,120 | +40.1% |
| Suppliers | 440/4 | €122,436 | €171,556 | +€49,120 | +40.1% |
| Taxes, remuneration and social security | 45 | €112,773 | €116,470 | +€3,698 | +3.3% |
| Taxes | 450/3 | €31,272 | €33,035 | +€1,763 | +5.6% |
| Remuneration and social security | 454/9 | €81,500 | €83,436 | +€1,935 | +2.4% |
| Other amounts payable | 47/48 | €25,000 | €25,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €33,175 | €30,555 | -€2,621 | -7.9% |
| Non-recurring operating income | 76A | €68,942 | €1,700 | -€67,242 | -97.5% |
| Remuneration, social security and pensions | 62 | €700,098 | €797,417 | +€97,319 | +13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,235 | €61,802 | +€16,567 | +36.6% |
| Other operating charges | 640/8 | €5,017 | €3,811 | -€1,205 | -24.0% |
| Gross operating margin | 9900 | €884,843 | €905,586 | +€20,743 | +2.3% |
| Operating profit (loss) | 9901 | €134,493 | €42,555 | -€91,937 | -68.4% |
| Financial income | 75/76B | €2,623 | €172 | -€2,451 | -93.4% |
| Recurring financial income | 75 | €2,623 | €172 | -€2,451 | -93.4% |
| Financial charges | 65/66B | €14,731 | €22,611 | +€7,881 | +53.5% |
| Recurring financial charges | 65 | €14,731 | €22,611 | +€7,881 | +53.5% |
| Profit (loss) for the period before taxes | 9903 | €122,385 | €20,116 | -€102,269 | -83.6% |
| Income taxes | 67/77 | €43,768 | €8,384 | -€35,384 | -80.8% |
| Profit (loss) for the period | 9904 | €78,617 | €11,732 | -€66,885 | -85.1% |
| Profit (loss) for the period to be appropriated | 9905 | €78,617 | €11,732 | -€66,885 | -85.1% |
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.