VISUAL CARTES.BE: 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.
VISUAL CARTES.BE
Largest movements
- Receivables within one year +€36,485
up €36,485 (+11.5%), from €318,059 to €354,544
of which Other amounts receivable: +€86,614
- Formation expenses -€5,450
down €5,450 (-50.0%), from €10,900 to €5,450
- Reserves +€43,494
up €43,494 (+1050.6%), from €4,140 to €47,634
of which Distributable reserves: +€43,494
- Trade debts -€35,826
down €35,826 (-15.2%), from €235,429 to €199,603
- Other debts -€17,723
down €17,723 (-99.1%), from €17,888 to €164
- Debts after one year +€17,001
up €17,001, from €0 to €17,001
- Tax, wage and social debts +€14,619
up €14,619 (+22.7%), from €64,506 to €79,125
of which Taxes: +€17,463
- Gross operating margin +€26,181
up €26,181 (+9.2%), from €285,707 to €311,888
- Taxes +€10,693
up €10,693 (+108.2%), from €9,878 to €20,572
- Other operating charges -€4,974
down €4,974 (-72.7%), from €6,842 to €1,868
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 | €397,957 | €424,697 | +€26,741 | +6.7% |
| Formation expenses | 20 | €10,900 | €5,450 | -€5,450 | -50.0% |
| Fixed assets | 21/28 | €836 | €2,985 | +€2,149 | +257.1% |
| Tangible fixed assets | 22/27 | €636 | €2,785 | +€2,149 | +337.9% |
| Plant, machinery and equipment | 23 | €636 | €424 | -€212 | -33.3% |
| Furniture and vehicles | 24 | €0 | €2,361 | +€2,361 | |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €386,221 | €416,262 | +€30,042 | +7.8% |
| Stocks and contracts in progress | 3 | €8,580 | €5,575 | -€3,005 | -35.0% |
| Stocks | 30/36 | €8,580 | €5,575 | -€3,005 | -35.0% |
| Amounts receivable within one year | 40/41 | €318,059 | €354,544 | +€36,485 | +11.5% |
| Trade receivables | 40 | €174,609 | €124,480 | -€50,129 | -28.7% |
| Other amounts receivable | 41 | €143,450 | €230,064 | +€86,614 | +60.4% |
| Cash at bank and in hand | 54/58 | €55,130 | €51,083 | -€4,047 | -7.3% |
| Deferred charges and accrued income | 490/1 | €4,451 | €5,060 | +€609 | +13.7% |
| Total equity and liabilities | 10/49 | €397,957 | €424,697 | +€26,741 | +6.7% |
| Equity | 10/15 | €45,540 | €89,034 | +€43,494 | +95.5% |
| Contributions | 10/11 | €41,400 | €41,400 | = | 0.0% |
| Reserves | 13 | €4,140 | €47,634 | +€43,494 | +1050.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €4,140 | €47,634 | +€43,494 | +1050.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €352,417 | €335,663 | -€16,753 | -4.8% |
| Amounts payable after more than one year | 17 | €0 | €17,001 | +€17,001 | |
| Financial debts | 170/4 | €0 | €17,001 | +€17,001 | |
| Amounts payable within one year | 42/48 | €352,416 | €318,662 | -€33,754 | -9.6% |
| Current portion of amounts payable after more than one year | 42 | €34,593 | €39,769 | +€5,176 | +15.0% |
| Trade debts | 44 | €235,429 | €199,603 | -€35,826 | -15.2% |
| Suppliers | 440/4 | €235,429 | €199,603 | -€35,826 | -15.2% |
| Taxes, remuneration and social security | 45 | €64,506 | €79,125 | +€14,619 | +22.7% |
| Taxes | 450/3 | €28,359 | €45,822 | +€17,463 | +61.6% |
| Remuneration and social security | 454/9 | €36,147 | €33,303 | -€2,844 | -7.9% |
| Other amounts payable | 47/48 | €17,888 | €164 | -€17,723 | -99.1% |
| Accrued charges and deferred income | 492/3 | €1 | €0 | -€1 | -100.0% |
| Remuneration, social security and pensions | 62 | €235,527 | €236,892 | +€1,365 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,759 | €6,525 | -€234 | -3.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,031 | €0 | -€3,031 | -100.0% |
| Other operating charges | 640/8 | €6,842 | €1,868 | -€4,974 | -72.7% |
| Gross operating margin | 9900 | €285,707 | €311,888 | +€26,181 | +9.2% |
| Operating profit (loss) | 9901 | €33,548 | €66,604 | +€33,056 | +98.5% |
| Financial income | 75/76B | €3 | €2,086 | +€2,083 | +66335.7% |
| Recurring financial income | 75 | €3 | €2,086 | +€2,083 | +66335.7% |
| Financial charges | 65/66B | €5,950 | €4,625 | -€1,325 | -22.3% |
| Recurring financial charges | 65 | €5,950 | €4,625 | -€1,325 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | €27,602 | €64,066 | +€36,464 | +132.1% |
| Income taxes | 67/77 | €9,878 | €20,572 | +€10,693 | +108.2% |
| Profit (loss) for the period | 9904 | €17,723 | €43,494 | +€25,771 | +145.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,723 | €43,494 | +€25,771 | +145.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.