VISUEL MANAGEMENT: 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.
VISUEL MANAGEMENT
Largest movements
- Cash +€87,097
up €87,097 (+67.3%), from €129,401 to €216,498
mainly Net result for the year (+€85,825) and Depreciation (+€9,192)
- Reserves +€85,900
up €85,900 (+69.8%), from €123,000 to €208,900
- Debts after one year -€6,238
down €6,238 (-30.4%), from €20,504 to €14,265
- Other debts +€6,022
up €6,022 (+114%), from €5,269 to €11,291
- Gross operating margin +€5,961
up €5,961 (+5.2%), from €114,518 to €120,478
- Depreciation +€3,900
up €3,900 (+73.7%), from €5,292 to €9,192
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 | €177,037 | €264,142 | +€87,104 | +49.2% |
| Fixed assets | 21/28 | €32,787 | €30,636 | -€2,152 | -6.6% |
| Tangible fixed assets | 22/27 | €32,787 | €30,636 | -€2,152 | -6.6% |
| Plant, machinery and equipment | 23 | €1,855 | €1,420 | -€435 | -23.5% |
| Furniture and vehicles | 24 | €30,933 | €29,216 | -€1,717 | -5.6% |
| Current assets | 29/58 | €144,250 | €233,506 | +€89,256 | +61.9% |
| Amounts receivable within one year | 40/41 | €14,849 | €17,008 | +€2,159 | +14.5% |
| Trade receivables | 40 | €14,849 | €17,008 | +€2,159 | +14.5% |
| Cash at bank and in hand | 54/58 | €129,401 | €216,498 | +€87,097 | +67.3% |
| Total equity and liabilities | 10/49 | €177,037 | €264,142 | +€87,104 | +49.2% |
| Equity | 10/15 | €126,144 | €211,969 | +€85,825 | +68.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €123,000 | €208,900 | +€85,900 | +69.8% |
| Distributable reserves | 133 | €123,000 | €208,900 | +€85,900 | +69.8% |
| Profit (loss) carried forward | 14 | €144 | €69 | -€75 | -51.8% |
| Amounts payable | 17/49 | €50,893 | €52,172 | +€1,279 | +2.5% |
| Amounts payable after more than one year | 17 | €20,504 | €14,265 | -€6,238 | -30.4% |
| Financial debts | 170/4 | €20,504 | €14,265 | -€6,238 | -30.4% |
| Amounts payable within one year | 42/48 | €30,390 | €37,907 | +€7,517 | +24.7% |
| Current portion of amounts payable after more than one year | 42 | €6,030 | €6,238 | +€208 | +3.5% |
| Trade debts | 44 | €1,403 | €2,165 | +€761 | +54.3% |
| Suppliers | 440/4 | €1,403 | €2,165 | +€761 | +54.3% |
| Taxes, remuneration and social security | 45 | €17,687 | €18,213 | +€526 | +3.0% |
| Taxes | 450/3 | €15,687 | €16,213 | +€526 | +3.4% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €5,269 | €11,291 | +€6,022 | +114% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,292 | €9,192 | +€3,900 | +73.7% |
| Other operating charges | 640/8 | €1,119 | €780 | -€339 | -30.3% |
| Gross operating margin | 9900 | €114,518 | €120,478 | +€5,961 | +5.2% |
| Operating profit (loss) | 9901 | €108,106 | €110,506 | +€2,400 | +2.2% |
| Financial income | 75/76B | €0 | €128 | +€128 | +427,433% |
| Recurring financial income | 75 | €0 | €128 | +€128 | +427,433% |
| Financial charges | 65/66B | €1,883 | €905 | -€978 | -51.9% |
| Recurring financial charges | 65 | €1,883 | €905 | -€978 | -51.9% |
| Profit (loss) for the period before taxes | 9903 | €106,224 | €109,730 | +€3,506 | +3.3% |
| Income taxes | 67/77 | €23,135 | €23,904 | +€769 | +3.3% |
| Profit (loss) for the period | 9904 | €83,088 | €85,825 | +€2,737 | +3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €83,088 | €85,825 | +€2,737 | +3.3% |
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 15 October 2026 via checked.be.