VISUEEL PRINTING: 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.
VISUEEL PRINTING
Largest movements
- Cash -€94,434
down €94,434 (-28.7%), from €329,430 to €234,996
mainly Receivables after one year (-€70,000) and Other debts (-€16,239)
- Receivables after one year +€70,000
new in 2025: €70,000
- Tangible fixed assets -€30,306
down €30,306 (-7.2%), from €423,437 to €393,131
of which Land and buildings: -€18,850
- Receivables within one year +€11,490
up €11,490 (+24.9%), from €46,168 to €57,658
of which Trade receivables: +€9,577
- Other debts -€16,239
down €16,239 (-35.7%), from €45,542 to €29,303
- Debts after one year -€13,511
down €13,511 (-5.8%), from €234,808 to €221,297
- Reserves -€8,256
down €8,256 (-1.7%), from €473,340 to €465,084
of which Distributable reserves: -€8,256
- Gross operating margin +€36,187
up €36,187, from -€3,236 to €32,951
- Depreciation +€21,898
up €21,898 (+260%), from €8,408 to €30,306
- Financial charges +€9,892
up €9,892 (+174%), from €5,679 to €15,571
- Financial income +€1,747
up €1,747 (+31.6%), from €5,522 to €7,269
- Taxes -€1,049
down €1,049 (-88.9%), from €1,179 to €131
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 | €806,579 | €755,894 | -€50,685 | -6.3% |
| Fixed assets | 21/28 | €423,437 | €393,131 | -€30,306 | -7.2% |
| Tangible fixed assets | 22/27 | €423,437 | €393,131 | -€30,306 | -7.2% |
| Land and buildings | 22 | €372,625 | €353,776 | -€18,850 | -5.1% |
| Plant, machinery and equipment | 23 | €47,678 | €37,678 | -€10,000 | -21.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €3,134 | €1,678 | -€1,456 | -46.5% |
| Current assets | 29/58 | €383,142 | €362,763 | -€20,379 | -5.3% |
| Amounts receivable after more than one year | 29 | - | €70,000 | +€70,000 | |
| Other amounts receivable | 291 | - | €70,000 | +€70,000 | |
| Amounts receivable within one year | 40/41 | €46,168 | €57,658 | +€11,490 | +24.9% |
| Trade receivables | 40 | €46,168 | €55,745 | +€9,577 | +20.7% |
| Other amounts receivable | 41 | €0 | €1,913 | +€1,913 | |
| Cash at bank and in hand | 54/58 | €329,430 | €234,996 | -€94,434 | -28.7% |
| Deferred charges and accrued income | 490/1 | €7,544 | €108 | -€7,436 | -98.6% |
| Total equity and liabilities | 10/49 | €806,579 | €755,894 | -€50,685 | -6.3% |
| Equity | 10/15 | €491,940 | €483,684 | -€8,256 | -1.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €473,340 | €465,084 | -€8,256 | -1.7% |
| 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 | €471,480 | €463,224 | -€8,256 | -1.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €314,639 | €272,210 | -€42,429 | -13.5% |
| Amounts payable after more than one year | 17 | €234,808 | €221,297 | -€13,511 | -5.8% |
| Financial debts | 170/4 | €234,808 | €221,297 | -€13,511 | -5.8% |
| Amounts payable within one year | 42/48 | €75,433 | €46,889 | -€28,544 | -37.8% |
| Current portion of amounts payable after more than one year | 42 | €13,058 | €13,511 | +€453 | +3.5% |
| Trade debts | 44 | €6,945 | €4,074 | -€2,871 | -41.3% |
| Suppliers | 440/4 | €6,945 | €4,074 | -€2,871 | -41.3% |
| Advances received on contracts in progress | 46 | €7,800 | €0 | -€7,800 | -100% |
| Taxes, remuneration and social security | 45 | €2,088 | €0 | -€2,088 | -100% |
| Taxes | 450/3 | €2,088 | €0 | -€2,088 | -100% |
| Other amounts payable | 47/48 | €45,542 | €29,303 | -€16,239 | -35.7% |
| Accrued charges and deferred income | 492/3 | €4,398 | €4,024 | -€374 | -8.5% |
| Remuneration, social security and pensions | 62 | €163 | €170 | +€7 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,408 | €30,306 | +€21,898 | +260% |
| Other operating charges | 640/8 | €1,349 | €1,849 | +€500 | +37.1% |
| Non-recurring operating charges | 66A | €844 | €450 | -€394 | -46.7% |
| Gross operating margin | 9900 | -€3,236 | €32,951 | +€36,187 | |
| Operating profit (loss) | 9901 | -€14,000 | €177 | +€14,177 | |
| Financial income | 75/76B | €5,522 | €7,269 | +€1,747 | +31.6% |
| Recurring financial income | 75 | €5,522 | €7,269 | +€1,747 | +31.6% |
| Financial charges | 65/66B | €5,679 | €15,571 | +€9,892 | +174% |
| Recurring financial charges | 65 | €5,679 | €15,571 | +€9,892 | +174% |
| Profit (loss) for the period before taxes | 9903 | -€14,157 | -€8,126 | +€6,032 | +42.6% |
| Income taxes | 67/77 | €1,179 | €131 | -€1,049 | -88.9% |
| Profit (loss) for the period | 9904 | -€15,337 | -€8,256 | +€7,081 | +46.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,337 | -€8,256 | +€7,081 | +46.2% |
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 25 October 2026 via checked.be.