VISUAL PLUS CORPORATION: 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 PLUS CORPORATION
Largest movements
- Cash -€269,930
down €269,930 (-28.9%), from €932,689 to €662,759
mainly Debts after one year (-€503,495) and Receivables within one year (-€100,258)
- Stocks and contracts -€123,857
down €123,857 (-25.0%), from €495,295 to €371,438
- Receivables within one year +€100,258
up €100,258 (+40.8%), from €245,529 to €345,787
of which Trade receivables: +€106,025
- Debts after one year -€503,495
no longer reported in 2025 (was €503,495)
- Trade debts +€144,973
up €144,973 (+81.4%), from €178,070 to €323,043
- Provisions +€41,012
up €41,012 (+244%), from €16,819 to €57,831
- Financial charges -€11,598
down €11,598 (-86.5%), from €13,415 to €1,817
- Gross operating margin +€11,500
up €11,500 (+15.8%), from €72,616 to €84,116
- Taxes +€4,861
up €4,861 (+976%), from €498 to €5,359
- Other operating charges -€2,923
down €2,923 (-65.6%), from €4,454 to €1,531
- Write-downs +€2,532
up €2,532 (+10.4%), from -€24,374 to -€21,842
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.
Derived cash bridge
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 | €1,695,824 | €1,387,323 | -€308,501 | -18.2% |
| Fixed assets | 21/28 | €17,560 | €4,652 | -€12,908 | -73.5% |
| Tangible fixed assets | 22/27 | €6,260 | €3,852 | -€2,408 | -38.5% |
| Furniture and vehicles | 24 | €6,260 | €3,852 | -€2,408 | -38.5% |
| Financial fixed assets | 28 | €11,300 | €800 | -€10,500 | -92.9% |
| Current assets | 29/58 | €1,678,264 | €1,382,671 | -€295,593 | -17.6% |
| Stocks and contracts in progress | 3 | €495,295 | €371,438 | -€123,857 | -25.0% |
| Stocks | 30/36 | €495,295 | €371,438 | -€123,857 | -25.0% |
| Amounts receivable within one year | 40/41 | €245,529 | €345,787 | +€100,258 | +40.8% |
| Trade receivables | 40 | €226,051 | €332,076 | +€106,025 | +46.9% |
| Other amounts receivable | 41 | €19,478 | €13,711 | -€5,767 | -29.6% |
| Cash at bank and in hand | 54/58 | €932,689 | €662,759 | -€269,930 | -28.9% |
| Deferred charges and accrued income | 490/1 | €4,751 | €2,687 | -€2,064 | -43.4% |
| Total equity and liabilities | 10/49 | €1,695,824 | €1,387,323 | -€308,501 | -18.2% |
| Equity | 10/15 | €978,012 | €982,443 | +€4,431 | +0.5% |
| Contributions | 10/11 | €450,000 | €450,000 | = | 0.0% |
| Capital | 10 | €450,000 | €450,000 | = | 0.0% |
| Issued capital | 100 | €450,000 | €450,000 | = | 0.0% |
| Reserves | 13 | €178,690 | €183,121 | +€4,431 | +2.5% |
| Non-distributable reserves | 130/1 | €45,000 | €45,000 | = | 0.0% |
| Legal reserve | 130 | €45,000 | €45,000 | = | 0.0% |
| Distributable reserves | 133 | €133,690 | €138,121 | +€4,431 | +3.3% |
| Profit (loss) carried forward | 14 | €349,322 | €349,322 | = | 0.0% |
| Provisions and deferred taxes | 16 | €16,819 | €57,831 | +€41,012 | +244% |
| Provisions for liabilities and charges | 160/5 | €16,819 | €57,831 | +€41,012 | +244% |
| Other liabilities and charges | 164/5 | €16,819 | €57,831 | +€41,012 | +244% |
| Amounts payable | 17/49 | €700,993 | €347,049 | -€353,944 | -50.5% |
| Amounts payable after more than one year | 17 | €503,495 | - | -€503,495 | |
| Other amounts payable | 178/9 | €503,495 | - | -€503,495 | |
| Amounts payable within one year | 42/48 | €197,498 | €347,049 | +€149,551 | +75.7% |
| Trade debts | 44 | €178,070 | €323,043 | +€144,973 | +81.4% |
| Suppliers | 440/4 | €178,070 | €323,043 | +€144,973 | +81.4% |
| Taxes, remuneration and social security | 45 | €19,351 | €20,275 | +€924 | +4.8% |
| Taxes | 450/3 | €3,140 | €5,377 | +€2,237 | +71.2% |
| Remuneration and social security | 454/9 | €16,211 | €14,898 | -€1,313 | -8.1% |
| Other amounts payable | 47/48 | €77 | €3,731 | +€3,654 | +4,745% |
| Remuneration, social security and pensions | 62 | €86,554 | €86,983 | +€429 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €866 | €2,408 | +€1,542 | +178% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€24,374 | -€21,842 | +€2,532 | +10.4% |
| Other operating charges | 640/8 | €4,454 | €1,531 | -€2,923 | -65.6% |
| Gross operating margin | 9900 | €72,616 | €84,116 | +€11,500 | +15.8% |
| Operating profit (loss) | 9901 | €5,116 | €15,036 | +€9,920 | +194% |
| Financial income | 75/76B | €1,445 | €71 | -€1,374 | -95.1% |
| Recurring financial income | 75 | €1,445 | €71 | -€1,374 | -95.1% |
| Financial charges | 65/66B | €13,415 | €1,817 | -€11,598 | -86.5% |
| Recurring financial charges | 65 | €13,415 | €1,817 | -€11,598 | -86.5% |
| Profit (loss) for the period before taxes | 9903 | -€6,854 | €13,290 | +€20,144 | |
| Income taxes | 67/77 | €498 | €5,359 | +€4,861 | +976% |
| Profit (loss) for the period | 9904 | -€7,352 | €7,931 | +€15,283 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,352 | €7,931 | +€15,283 |
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 17 October 2026 via checked.be.