VIZAVI: 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.
VIZAVI
Largest movements
- Stocks and contracts -€11,378
down €11,378 (-26.5%), from €42,901 to €31,523
- Receivables within one year -€6,029
down €6,029 (-13.3%), from €45,386 to €39,357
of which Trade receivables: -€6,353
- Profit (loss) carried forward -€7,165
down €7,165, from €2,921 to -€4,243
- Other debts -€6,171
down €6,171 (-64.5%), from €9,574 to €3,403
- Current portion of long-term debt -€5,500
no longer reported in 2025 (was €5,500)
- Tax, wage and social debts +€1,670
up €1,670 (+21.3%), from €7,834 to €9,503
of which Remuneration and social security: +€1,400
- Gross operating margin -€33,825
down €33,825, from €20,089 to -€13,735
- Taxes -€5,573
down €5,573 (-94.1%), from €5,925 to €352
- Other operating charges -€5,465
down €5,465 (-87.8%), from €6,224 to €759
- Write-downs -€5,161
down €5,161 (-135%), from -€3,821 to -€8,982
- Depreciation -€209
no longer reported in 2025 (was €209)
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 | €94,535 | €77,338 | -€17,196 | -18.2% |
| Current assets | 29/58 | €94,535 | €77,338 | -€17,196 | -18.2% |
| Stocks and contracts in progress | 3 | €42,901 | €31,523 | -€11,378 | -26.5% |
| Stocks | 30/36 | €42,901 | €31,523 | -€11,378 | -26.5% |
| Amounts receivable within one year | 40/41 | €45,386 | €39,357 | -€6,029 | -13.3% |
| Trade receivables | 40 | €44,526 | €38,174 | -€6,353 | -14.3% |
| Other amounts receivable | 41 | €860 | €1,183 | +€324 | +37.6% |
| Cash at bank and in hand | 54/58 | €5,529 | €5,682 | +€153 | +2.8% |
| Deferred charges and accrued income | 490/1 | €719 | €776 | +€57 | +8.0% |
| Total equity and liabilities | 10/49 | €94,535 | €77,338 | -€17,196 | -18.2% |
| Equity | 10/15 | €71,121 | €63,957 | -€7,165 | -10.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,921 | -€4,243 | -€7,165 | |
| Amounts payable | 17/49 | €23,413 | €13,382 | -€10,032 | -42.8% |
| Amounts payable within one year | 42/48 | €23,413 | €13,382 | -€10,032 | -42.8% |
| Current portion of amounts payable after more than one year | 42 | €5,500 | - | -€5,500 | |
| Trade debts | 44 | €506 | €475 | -€31 | -6.1% |
| Suppliers | 440/4 | €506 | €475 | -€31 | -6.1% |
| Taxes, remuneration and social security | 45 | €7,834 | €9,503 | +€1,670 | +21.3% |
| Taxes | 450/3 | €7,834 | €8,103 | +€270 | +3.4% |
| Remuneration and social security | 454/9 | - | €1,400 | +€1,400 | |
| Other amounts payable | 47/48 | €9,574 | €3,403 | -€6,171 | -64.5% |
| Non-recurring operating income | 76A | €1,696 | €74 | -€1,622 | -95.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €209 | - | -€209 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,821 | -€8,982 | -€5,161 | -135% |
| Other operating charges | 640/8 | €6,224 | €759 | -€5,465 | -87.8% |
| Gross operating margin | 9900 | €20,089 | -€13,735 | -€33,825 | |
| Operating profit (loss) | 9901 | €17,478 | -€5,512 | -€22,990 | |
| Financial charges | 65/66B | €1,324 | €1,300 | -€24 | -1.8% |
| Recurring financial charges | 65 | €1,324 | €1,300 | -€24 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €16,154 | -€6,812 | -€22,966 | |
| Income taxes | 67/77 | €5,925 | €352 | -€5,573 | -94.1% |
| Profit (loss) for the period | 9904 | €10,228 | -€7,165 | -€17,393 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,228 | -€7,165 | -€17,393 |
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 19 October 2026 via checked.be.