Visual Identity Management: 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.
What changed
Visual Identity Management
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€18,124
2024 · €17,396+€728
Equity
€362,026
2024 · €363,902-€1,876
Cash
€48,972
2024 · €71,511-€22,539
Balance sheet total
€466,640
2024 · €489,166-€22,527
Largest movements
Assets
- Cash -€22,539
down €22,539 (-31.5%), from €71,511 to €48,972
mainly Investment in fixed assets (net) (-€21,784) and Contributions, distributions and other (-€20,000)
Equity and liabilities
- Trade debts -€9,302
down €9,302 (-95.8%), from €9,708 to €406
Income statement
- Other operating charges -€7,408
down €7,408 (-49.8%), from €14,866 to €7,459
- Depreciation +€3,508
up €3,508 (+16.5%), from €21,201 to €24,709
- Gross operating margin -€2,648
down €2,648 (-4.4%), from €60,360 to €57,713
- Taxes +€999
up €999 (+13.0%), from €7,686 to €8,685
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.
Result 2024
€17,396
Gross operating margin
-€2,648
Depreciation
-€3,508
Other operating charges
+€7,408
Financial income
+€399
Financial charges
+€202
Taxes
-€999
Deferred taxes and other
-€126
Result 2025
€18,124
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.
From operations
+€26,742
Investment
-€21,784
Financing
-€27,498
Cash 2024
€71,511
From operations (derived)
+€26,742
Net result for the year
+€18,124
Depreciation
+€24,709
Receivables within one year
-€2,905
Deferred charges and accrued income
-€33
Provisions
-€838
Trade debts
-€9,302
Tax, wage and social debts
-€1,021
Other debts
-€1,992
Investment (derived)
-€21,784
Investment in fixed assets (net)
-€21,784
Financing
-€27,498
Debts after one year
-€2,630
Current portion of long-term debt
-€4,867
Contributions, distributions and other
-€20,000
Cash 2025
€48,972
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €489,166 | €466,640 | -€22,527 | -4.6% |
| Fixed assets | 21/28 | €412,596 | €409,670 | -€2,925 | -0.7% |
| Tangible fixed assets | 22/27 | €412,346 | €409,420 | -€2,925 | -0.7% |
| Land and buildings | 22 | €395,453 | €370,343 | -€25,110 | -6.3% |
| Plant, machinery and equipment | 23 | €1,265 | €31,553 | +€30,288 | +2393.7% |
| Furniture and vehicles | 24 | €11,729 | €7,524 | -€4,204 | -35.8% |
| Other tangible fixed assets | 26 | €3,899 | €0 | -€3,899 | -100.0% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €76,571 | €56,969 | -€19,601 | -25.6% |
| Amounts receivable within one year | 40/41 | €4,827 | €7,732 | +€2,905 | +60.2% |
| Trade receivables | 40 | €369 | €2,172 | +€1,803 | +489.2% |
| Other amounts receivable | 41 | €4,458 | €5,560 | +€1,101 | +24.7% |
| Cash at bank and in hand | 54/58 | €71,511 | €48,972 | -€22,539 | -31.5% |
| Deferred charges and accrued income | 490/1 | €233 | €266 | +€33 | +14.2% |
| Total equity and liabilities | 10/49 | €489,166 | €466,640 | -€22,527 | -4.6% |
| Equity | 10/15 | €363,902 | €362,026 | -€1,876 | -0.5% |
| Contributions | 10/11 | €80,600 | €80,600 | = | 0.0% |
| Capital | 10 | €80,600 | €80,600 | = | 0.0% |
| Issued capital | 100 | €80,600 | €80,600 | = | 0.0% |
| Reserves | 13 | €283,302 | €281,426 | -€1,876 | -0.7% |
| Non-distributable reserves | 130/1 | €8,060 | €8,060 | = | 0.0% |
| Legal reserve | 130 | €8,060 | €8,060 | = | 0.0% |
| Tax-exempt reserves | 132 | €87,876 | €85,364 | -€2,513 | -2.9% |
| Distributable reserves | 133 | €187,366 | €188,003 | +€637 | +0.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €23,709 | €22,871 | -€838 | -3.5% |
| Deferred taxes | 168 | €23,709 | €22,871 | -€838 | -3.5% |
| Amounts payable | 17/49 | €101,555 | €81,742 | -€19,813 | -19.5% |
| Amounts payable after more than one year | 17 | €59,015 | €56,385 | -€2,630 | -4.5% |
| Financial debts | 170/4 | €59,015 | €56,385 | -€2,630 | -4.5% |
| Amounts payable within one year | 42/48 | €42,540 | €25,357 | -€17,183 | -40.4% |
| Current portion of amounts payable after more than one year | 42 | €8,153 | €3,286 | -€4,867 | -59.7% |
| Trade debts | 44 | €9,708 | €406 | -€9,302 | -95.8% |
| Suppliers | 440/4 | €9,708 | €406 | -€9,302 | -95.8% |
| Taxes, remuneration and social security | 45 | €2,686 | €1,665 | -€1,021 | -38.0% |
| Taxes | 450/3 | €2,686 | €1,665 | -€1,021 | -38.0% |
| Other amounts payable | 47/48 | €21,992 | €20,000 | -€1,992 | -9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,201 | €24,709 | +€3,508 | +16.5% |
| Other operating charges | 640/8 | €14,866 | €7,459 | -€7,408 | -49.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €60,360 | €57,713 | -€2,648 | -4.4% |
| Operating profit (loss) | 9901 | €24,293 | €25,545 | +€1,252 | +5.2% |
| Financial income | 75/76B | €212 | €610 | +€399 | +188.3% |
| Recurring financial income | 75 | €212 | €610 | +€399 | +188.3% |
| Financial charges | 65/66B | €386 | €184 | -€202 | -52.4% |
| Recurring financial charges | 65 | €386 | €184 | -€202 | -52.4% |
| Profit (loss) for the period before taxes | 9903 | €24,119 | €25,972 | +€1,853 | +7.7% |
| Transfer from deferred taxes | 780 | €964 | €838 | -€126 | -13.1% |
| Income taxes | 67/77 | €7,686 | €8,685 | +€999 | +13.0% |
| Profit (loss) for the period | 9904 | €17,396 | €18,124 | +€728 | +4.2% |
| Transfer from tax-exempt reserves | 789 | €2,360 | €2,513 | +€153 | +6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €19,756 | €20,637 | +€880 | +4.5% |
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 6 October 2026 via checked.be.