VISUALGURU: 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.
VISUALGURU
Largest movements
- Receivables within one year -€20,276
down €20,276 (-10.7%), from €189,177 to €168,901
of which Other amounts receivable: -€28,418
- Cash -€4,120
down €4,120 (-48.3%), from €8,529 to €4,409
mainly Other debts (-€22,325) and Contributions, distributions and other (-€18,400)
- Other debts -€22,325
no longer reported in 2025 (was €22,325)
- Reserves -€11,206
down €11,206 (-19.4%), from €57,900 to €46,694
of which Distributable reserves: -€11,206
- Tax, wage and social debts +€6,172
up €6,172 (+349.7%), from €1,765 to €7,937
- Trade debts +€4,391
up €4,391 (+21.2%), from €20,724 to €25,116
- Gross operating margin +€11,365
up €11,365, from -€4,544 to €6,821
- Taxes +€3,413
up €3,413 (+331.9%), from €1,028 to €4,442
- Financial income -€1,699
down €1,699 (-20.8%), from €8,168 to €6,469
- Financial charges -€568
down €568 (-39.9%), from €1,424 to €856
- Provisions +€398
new in 2025: €398
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 | €198,989 | €176,068 | -€22,922 | -11.5% |
| Fixed assets | 21/28 | €1,048 | €2,675 | +€1,627 | +155.3% |
| Tangible fixed assets | 22/27 | €969 | €2,597 | +€1,627 | +167.9% |
| Furniture and vehicles | 24 | €969 | €2,597 | +€1,627 | +167.9% |
| Financial fixed assets | 28 | €79 | €79 | = | 0.0% |
| Current assets | 29/58 | €197,941 | €173,392 | -€24,549 | -12.4% |
| Amounts receivable within one year | 40/41 | €189,177 | €168,901 | -€20,276 | -10.7% |
| Trade receivables | 40 | €50,934 | €59,075 | +€8,141 | +16.0% |
| Other amounts receivable | 41 | €138,243 | €109,826 | -€28,418 | -20.6% |
| Cash at bank and in hand | 54/58 | €8,529 | €4,409 | -€4,120 | -48.3% |
| Deferred charges and accrued income | 490/1 | €235 | €83 | -€152 | -64.9% |
| Total equity and liabilities | 10/49 | €198,989 | €176,068 | -€22,922 | -11.5% |
| Equity | 10/15 | €151,662 | €140,456 | -€11,206 | -7.4% |
| Contributions | 10/11 | €40,800 | €40,800 | = | 0.0% |
| Reserves | 13 | €57,900 | €46,694 | -€11,206 | -19.4% |
| Non-distributable reserves | 130/1 | €3,500 | €3,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,500 | €3,500 | = | 0.0% |
| Distributable reserves | 133 | €54,400 | €43,194 | -€11,206 | -20.6% |
| Profit (loss) carried forward | 14 | €52,962 | €52,962 | = | 0.0% |
| Amounts payable | 17/49 | €47,327 | €35,611 | -€11,715 | -24.8% |
| Amounts payable within one year | 42/48 | €47,327 | €35,611 | -€11,715 | -24.8% |
| Current portion of amounts payable after more than one year | 42 | €2,512 | €2,558 | +€46 | +1.8% |
| Trade debts | 44 | €20,724 | €25,116 | +€4,391 | +21.2% |
| Suppliers | 440/4 | €20,724 | €25,116 | +€4,391 | +21.2% |
| Taxes, remuneration and social security | 45 | €1,765 | €7,937 | +€6,172 | +349.7% |
| Taxes | 450/3 | €1,765 | €7,937 | +€6,172 | +349.7% |
| Other amounts payable | 47/48 | €22,325 | - | -€22,325 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121 | - | -€121 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €398 | +€398 | |
| Other operating charges | 640/8 | €537 | €400 | -€138 | -25.6% |
| Gross operating margin | 9900 | -€4,544 | €6,821 | +€11,365 | |
| Operating profit (loss) | 9901 | -€5,202 | €6,023 | +€11,225 | |
| Financial income | 75/76B | €8,168 | €6,469 | -€1,699 | -20.8% |
| Recurring financial income | 75 | €8,168 | €6,469 | -€1,699 | -20.8% |
| Financial charges | 65/66B | €1,424 | €856 | -€568 | -39.9% |
| Recurring financial charges | 65 | €1,424 | €856 | -€568 | -39.9% |
| Profit (loss) for the period before taxes | 9903 | €1,542 | €11,636 | +€10,094 | +654.6% |
| Income taxes | 67/77 | €1,028 | €4,442 | +€3,413 | +331.9% |
| Profit (loss) for the period | 9904 | €513 | €7,194 | +€6,680 | +1300.9% |
| Profit (loss) for the period to be appropriated | 9905 | €513 | €7,194 | +€6,680 | +1300.9% |
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 12 October 2026 via checked.be.