VISUATECH: 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.
VISUATECH
Largest movements
- Tangible fixed assets -€38,934
down €38,934 (-6.7%), from €582,210 to €543,276
of which Land and buildings: -€36,815
- Cash +€30,085
up €30,085 (+576.9%), from €5,215 to €35,300
mainly Debts after one year (+€222,928) and Depreciation (+€46,815)
- Receivables within one year -€16,037
down €16,037 (-48.7%), from €32,932 to €16,895
of which Trade receivables: -€18,049
- Short-term financial debts -€287,680
down €287,680 (-99.8%), from €288,125 to €445
- Debts after one year +€222,928
up €222,928 (+69.8%), from €319,220 to €542,149
- Other debts +€45,431
up €45,431 (+132.8%), from €34,201 to €79,632
- Trade debts -€25,795
down €25,795 (-97.9%), from €26,338 to €544
- Current portion of long-term debt +€22,815
up €22,815 (+42.2%), from €54,126 to €76,941
- Staff costs -€106,692
down €106,692 (-95.9%), from €111,239 to €4,547
- Financial charges -€33,924
down €33,924 (-50.6%), from €67,092 to €33,167
- Gross operating margin -€18,870
down €18,870 (-15.6%), from €120,983 to €102,113
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 | €621,643 | €596,547 | -€25,096 | -4.0% |
| Fixed assets | 21/28 | €582,396 | €543,462 | -€38,934 | -6.7% |
| Tangible fixed assets | 22/27 | €582,210 | €543,276 | -€38,934 | -6.7% |
| Land and buildings | 22 | €580,091 | €543,276 | -€36,815 | -6.3% |
| Furniture and vehicles | 24 | €2,118 | - | -€2,118 | |
| Financial fixed assets | 28 | €186 | €186 | = | 0.0% |
| Current assets | 29/58 | €39,247 | €53,085 | +€13,838 | +35.3% |
| Amounts receivable within one year | 40/41 | €32,932 | €16,895 | -€16,037 | -48.7% |
| Trade receivables | 40 | €28,077 | €10,028 | -€18,049 | -64.3% |
| Other amounts receivable | 41 | €4,855 | €6,867 | +€2,012 | +41.4% |
| Cash at bank and in hand | 54/58 | €5,215 | €35,300 | +€30,085 | +576.9% |
| Deferred charges and accrued income | 490/1 | €1,100 | €890 | -€210 | -19.1% |
| Total equity and liabilities | 10/49 | €621,643 | €596,547 | -€25,096 | -4.0% |
| Equity | 10/15 | -€116,329 | -€108,314 | +€8,016 | +6.9% |
| Contributions | 10/11 | €101,375 | €101,375 | = | 0.0% |
| Reserves | 13 | €48,799 | €48,799 | = | 0.0% |
| Distributable reserves | 133 | €48,799 | €48,799 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€266,503 | -€258,487 | +€8,016 | +3.0% |
| Amounts payable | 17/49 | €737,972 | €704,861 | -€33,111 | -4.5% |
| Amounts payable after more than one year | 17 | €319,220 | €542,149 | +€222,928 | +69.8% |
| Financial debts | 170/4 | €319,220 | €542,149 | +€222,928 | +69.8% |
| Amounts payable within one year | 42/48 | €411,940 | €162,712 | -€249,228 | -60.5% |
| Current portion of amounts payable after more than one year | 42 | €54,126 | €76,941 | +€22,815 | +42.2% |
| Financial debts | 43 | €288,125 | €445 | -€287,680 | -99.8% |
| Credit institutions | 430/8 | €288,125 | €445 | -€287,680 | -99.8% |
| Trade debts | 44 | €26,338 | €544 | -€25,795 | -97.9% |
| Suppliers | 440/4 | €26,338 | €544 | -€25,795 | -97.9% |
| Taxes, remuneration and social security | 45 | €9,150 | €5,150 | -€4,000 | -43.7% |
| Taxes | 450/3 | €8,131 | €5,150 | -€2,981 | -36.7% |
| Remuneration and social security | 454/9 | €1,019 | - | -€1,019 | |
| Other amounts payable | 47/48 | €34,201 | €79,632 | +€45,431 | +132.8% |
| Accrued charges and deferred income | 492/3 | €6,811 | - | -€6,811 | |
| Non-recurring operating income | 76A | - | €382 | +€382 | |
| Remuneration, social security and pensions | 62 | €111,239 | €4,547 | -€106,692 | -95.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,571 | €46,815 | -€756 | -1.6% |
| Other operating charges | 640/8 | €9,737 | €9,595 | -€142 | -1.5% |
| Non-recurring operating charges | 66A | €15,387 | - | -€15,387 | |
| Gross operating margin | 9900 | €120,983 | €102,113 | -€18,870 | -15.6% |
| Operating profit (loss) | 9901 | -€62,951 | €41,156 | +€104,107 | |
| Financial income | 75/76B | - | €15 | +€15 | |
| Recurring financial income | 75 | - | €15 | +€15 | |
| Financial charges | 65/66B | €67,092 | €33,167 | -€33,924 | -50.6% |
| Recurring financial charges | 65 | €67,092 | €33,167 | -€33,924 | -50.6% |
| Profit (loss) for the period before taxes | 9903 | -€130,043 | €8,004 | +€138,047 | |
| Income taxes | 67/77 | €178 | -€12 | -€190 | |
| Profit (loss) for the period | 9904 | -€130,221 | €8,016 | +€138,237 | |
| Profit (loss) for the period to be appropriated | 9905 | -€130,221 | €8,016 | +€138,237 |
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 8 October 2026 via checked.be.