VISUS: 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.
VISUS
Largest movements
- Current investments +€33,627
up €33,627 (+87.6%), from €38,400 to €72,027
- Receivables within one year -€29,698
down €29,698 (-50.4%), from €58,925 to €29,227
- Tangible fixed assets -€13,439
down €13,439 (-26.8%), from €50,095 to €36,656
of which Plant, machinery and equipment: -€12,707
- Cash -€13,256
down €13,256 (-63.7%), from €20,817 to €7,562
mainly Contributions, distributions and other (-€148,902) and Current investments (-€33,627)
- Debts after one year -€20,122
down €20,122 (-24.2%), from €83,260 to €63,137
- Reserves -€7,440
down €7,440 (-80.0%), from €9,300 to €1,860
of which Non-distributable reserves: -€9,300
- Tax, wage and social debts +€4,785
up €4,785 (+17.7%), from €27,106 to €31,891
- Gross operating margin -€4,835
down €4,835 (-2.3%), from €214,433 to €209,598
- Other operating charges -€2,578
down €2,578 (-94.6%), from €2,725 to €146
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 | €396,228 | €372,388 | -€23,840 | -6.0% |
| Fixed assets | 21/28 | €50,095 | €36,656 | -€13,439 | -26.8% |
| Tangible fixed assets | 22/27 | €50,095 | €36,656 | -€13,439 | -26.8% |
| Land and buildings | 22 | €19,757 | €13,162 | -€6,595 | -33.4% |
| Plant, machinery and equipment | 23 | €23,437 | €10,729 | -€12,707 | -54.2% |
| Furniture and vehicles | 24 | €1,265 | - | -€1,265 | |
| Other tangible fixed assets | 26 | €5,637 | €12,765 | +€7,128 | +126% |
| Current assets | 29/58 | €346,134 | €335,733 | -€10,401 | -3.0% |
| Amounts receivable after more than one year | 29 | €222,000 | €222,000 | = | 0.0% |
| Other amounts receivable | 291 | €222,000 | €222,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €58,925 | €29,227 | -€29,698 | -50.4% |
| Other amounts receivable | 41 | €58,925 | €29,227 | -€29,698 | -50.4% |
| Current investments | 50/53 | €38,400 | €72,027 | +€33,627 | +87.6% |
| Cash at bank and in hand | 54/58 | €20,817 | €7,562 | -€13,256 | -63.7% |
| Deferred charges and accrued income | 490/1 | €5,991 | €4,917 | -€1,075 | -17.9% |
| Total equity and liabilities | 10/49 | €396,228 | €372,388 | -€23,840 | -6.0% |
| Equity | 10/15 | €102,300 | €94,860 | -€7,440 | -7.3% |
| Contributions | 10/11 | €93,000 | €93,000 | = | 0.0% |
| Reserves | 13 | €9,300 | €1,860 | -€7,440 | -80.0% |
| Non-distributable reserves | 130/1 | €9,300 | - | -€9,300 | |
| Reserves not available under the articles | 1311 | €9,300 | - | -€9,300 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Provisions and deferred taxes | 16 | €30,147 | €30,147 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €30,147 | €30,147 | = | 0.0% |
| Pensions and similar obligations | 160 | €30,147 | €30,147 | = | 0.0% |
| Amounts payable | 17/49 | €263,781 | €247,382 | -€16,400 | -6.2% |
| Amounts payable after more than one year | 17 | €83,260 | €63,137 | -€20,122 | -24.2% |
| Financial debts | 170/4 | €83,260 | €63,137 | -€20,122 | -24.2% |
| Amounts payable within one year | 42/48 | €180,522 | €184,244 | +€3,723 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €33,400 | €29,814 | -€3,585 | -10.7% |
| Trade debts | 44 | €474 | €4,013 | +€3,539 | +747% |
| Suppliers | 440/4 | €474 | €4,013 | +€3,539 | +747% |
| Taxes, remuneration and social security | 45 | €27,106 | €31,891 | +€4,785 | +17.7% |
| Taxes | 450/3 | €27,106 | €31,891 | +€4,785 | +17.7% |
| Other amounts payable | 47/48 | €119,542 | €118,526 | -€1,016 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,635 | €22,319 | +€684 | +3.2% |
| Other operating charges | 640/8 | €2,725 | €146 | -€2,578 | -94.6% |
| Non-recurring operating charges | 66A | - | €106 | +€106 | |
| Gross operating margin | 9900 | €214,433 | €209,598 | -€4,835 | -2.3% |
| Operating profit (loss) | 9901 | €190,074 | €187,027 | -€3,047 | -1.6% |
| Financial income | 75/76B | €7,397 | €9,095 | +€1,699 | +23.0% |
| Recurring financial income | 75 | €7,397 | €9,095 | +€1,699 | +23.0% |
| Financial charges | 65/66B | €7,137 | €8,842 | +€1,705 | +23.9% |
| Recurring financial charges | 65 | €7,137 | €8,842 | +€1,705 | +23.9% |
| Profit (loss) for the period before taxes | 9903 | €190,334 | €187,280 | -€3,053 | -1.6% |
| Income taxes | 67/77 | €44,550 | €45,819 | +€1,268 | +2.8% |
| Profit (loss) for the period | 9904 | €145,783 | €141,462 | -€4,322 | -3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €145,783 | €141,462 | -€4,322 | -3.0% |
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.