VISUAL SAFETY: 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 SAFETY
Largest movements
- Financial fixed assets +€269,435
up €269,435 (+103%), from €260,518 to €529,953
- Receivables within one year -€136,876
down €136,876 (-49.2%), from €277,983 to €141,107
of which Trade receivables: -€145,448
- Deferred charges and accrued income +€14,378
up €14,378 (+7,087%), from €203 to €14,581
- Reserves +€56,071
up €56,071 (+12.6%), from €443,598 to €499,669
of which Distributable reserves: +€56,071
- Trade debts +€44,334
up €44,334 (+411%), from €10,799 to €55,133
- Tax, wage and social debts +€42,689
up €42,689 (+46.3%), from €92,173 to €134,861
of which Taxes: +€45,943
- Gross operating margin -€32,046
down €32,046 (-28.5%), from €112,622 to €80,576
- Financial charges -€10,924
down €10,924 (-86.4%), from €12,650 to €1,726
- Other operating charges -€1,682
down €1,682 (-90.9%), from €1,850 to €168
- Taxes -€1,364
down €1,364 (-5.6%), from €24,487 to €23,124
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €552,769 | €695,863 | +€143,093 | +25.9% |
| Fixed assets | 21/28 | €265,293 | €536,442 | +€271,150 | +102% |
| Tangible fixed assets | 22/27 | €4,775 | €6,489 | +€1,714 | +35.9% |
| Furniture and vehicles | 24 | €4,775 | €6,489 | +€1,714 | +35.9% |
| Financial fixed assets | 28 | €260,518 | €529,953 | +€269,435 | +103% |
| Current assets | 29/58 | €287,477 | €159,420 | -€128,057 | -44.5% |
| Amounts receivable within one year | 40/41 | €277,983 | €141,107 | -€136,876 | -49.2% |
| Trade receivables | 40 | €196,985 | €51,536 | -€145,448 | -73.8% |
| Other amounts receivable | 41 | €80,998 | €89,571 | +€8,572 | +10.6% |
| Current investments | 50/53 | €3,353 | €3,353 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,938 | €379 | -€5,559 | -93.6% |
| Deferred charges and accrued income | 490/1 | €203 | €14,581 | +€14,378 | +7,087% |
| Total equity and liabilities | 10/49 | €552,769 | €695,863 | +€143,093 | +25.9% |
| Equity | 10/15 | €449,798 | €505,869 | +€56,071 | +12.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €443,598 | €499,669 | +€56,071 | +12.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €441,738 | €497,809 | +€56,071 | +12.7% |
| Amounts payable | 17/49 | €102,972 | €189,994 | +€87,022 | +84.5% |
| Amounts payable within one year | 42/48 | €102,972 | €189,994 | +€87,022 | +84.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €10,799 | €55,133 | +€44,334 | +411% |
| Suppliers | 440/4 | €10,799 | €55,133 | +€44,334 | +411% |
| Taxes, remuneration and social security | 45 | €92,173 | €134,861 | +€42,689 | +46.3% |
| Taxes | 450/3 | €88,918 | €134,861 | +€45,943 | +51.7% |
| Remuneration and social security | 454/9 | €3,255 | €0 | -€3,255 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,720 | €2,390 | +€670 | +38.9% |
| Other operating charges | 640/8 | €1,850 | €168 | -€1,682 | -90.9% |
| Gross operating margin | 9900 | €112,622 | €80,576 | -€32,046 | -28.5% |
| Operating profit (loss) | 9901 | €109,052 | €78,018 | -€31,034 | -28.5% |
| Financial income | 75/76B | €2,536 | €2,903 | +€367 | +14.5% |
| Recurring financial income | 75 | €2,536 | €2,903 | +€367 | +14.5% |
| Financial charges | 65/66B | €12,650 | €1,726 | -€10,924 | -86.4% |
| Recurring financial charges | 65 | €12,650 | €1,726 | -€10,924 | -86.4% |
| Profit (loss) for the period before taxes | 9903 | €98,938 | €79,195 | -€19,743 | -20.0% |
| Income taxes | 67/77 | €24,487 | €23,124 | -€1,364 | -5.6% |
| Profit (loss) for the period | 9904 | €74,451 | €56,071 | -€18,379 | -24.7% |
| Profit (loss) for the period to be appropriated | 9905 | €74,451 | €56,071 | -€18,379 | -24.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.