VIZI: 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.
VIZI
Largest movements
- Cash +€2.8m
up €2.8m (+437%), from €641,873 to €3.4m
mainly Net result for the year (+€5.7m) and Current investments (+€1.9m)
- Current investments -€1.9m
down €1.9m (-29.7%), from €6.4m to €4.5m
- Financial fixed assets -€716,000
down €716,000 (-13.4%), from €5.3m to €4.6m
- Tangible fixed assets -€308,205
down €308,205 (-90.3%), from €341,414 to €33,209
of which Other tangible fixed assets: -€295,536
- Receivables within one year -€223,325
down €223,325 (-15.4%), from €1.4m to €1.2m
of which Other amounts receivable: -€259,875
- Reserves +€5.6m
up €5.6m (+145%), from €3.9m to €9.5m
of which Distributable reserves: +€4.9m
- Other debts -€2.8m
down €2.8m (-99.3%), from €2.8m to €20,000
- Short-term financial debts -€2.6m
down €2.6m (-100%), from €2.6m to €0
of which Other loans: -€2.5m
- Debts after one year -€320,795
down €320,795 (-100%), from €320,795 to €0
- Accrued charges and deferred income -€210,315
down €210,315 (-95.1%), from €221,038 to €10,723
- Financial income +€5.4m
up €5.4m (+303%), from €1.8m to €7.2m
of which Financial income: +€3.8m
- Financial charges +€884,661
up €884,661 (+159%), from €556,206 to €1.4m
- Taxes -€261,651
down €261,651 (-59.6%), from €439,340 to €177,689
- Gross operating margin -€74,780
down €74,780 (-26.5%), from €282,677 to €207,896
- Depreciation -€4,376
down €4,376 (-17.5%), from €25,006 to €20,630
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,364,908 | €14,054,039 | -€310,869 | -2.2% |
| Fixed assets | 21/28 | €5,677,414 | €4,653,209 | -€1.0m | -18.0% |
| Tangible fixed assets | 22/27 | €341,414 | €33,209 | -€308,205 | -90.3% |
| Land and buildings | 22 | €5,253 | €2,700 | -€2,553 | -48.6% |
| Furniture and vehicles | 24 | €20,369 | €10,252 | -€10,117 | -49.7% |
| Other tangible fixed assets | 26 | €315,793 | €20,257 | -€295,536 | -93.6% |
| Financial fixed assets | 28 | €5,336,000 | €4,620,000 | -€716,000 | -13.4% |
| Current assets | 29/58 | €8,687,494 | €9,400,830 | +€713,336 | +8.2% |
| Amounts receivable after more than one year | 29 | - | €204,155 | +€204,155 | |
| Other amounts receivable | 291 | - | €204,155 | +€204,155 | |
| Amounts receivable within one year | 40/41 | €1,449,164 | €1,225,839 | -€223,325 | -15.4% |
| Trade receivables | 40 | €151,512 | €188,061 | +€36,550 | +24.1% |
| Other amounts receivable | 41 | €1,297,652 | €1,037,777 | -€259,875 | -20.0% |
| Current investments | 50/53 | €6,417,420 | €4,514,010 | -€1.9m | -29.7% |
| Cash at bank and in hand | 54/58 | €641,873 | €3,448,067 | +€2.8m | +437% |
| Deferred charges and accrued income | 490/1 | €179,037 | €8,759 | -€170,278 | -95.1% |
| Total equity and liabilities | 10/49 | €14,364,908 | €14,054,039 | -€310,869 | -2.2% |
| Equity | 10/15 | €8,102,028 | €13,735,313 | +€5.6m | +69.5% |
| Contributions | 10/11 | €4,228,611 | €4,228,611 | = | 0.0% |
| Reserves | 13 | €3,873,417 | €9,506,703 | +€5.6m | +145% |
| Tax-exempt reserves | 132 | €483,720 | €1,210,067 | +€726,347 | +150% |
| Distributable reserves | 133 | €3,389,697 | €8,296,635 | +€4.9m | +145% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €6,262,881 | €318,726 | -€5.9m | -94.9% |
| Amounts payable after more than one year | 17 | €320,795 | €0 | -€320,795 | -100% |
| Financial debts | 170/4 | €320,795 | €0 | -€320,795 | -100% |
| Amounts payable within one year | 42/48 | €5,721,047 | €308,003 | -€5.4m | -94.6% |
| Current portion of amounts payable after more than one year | 42 | €31,532 | €0 | -€31,532 | -100% |
| Financial debts | 43 | €2,600,000 | €0 | -€2.6m | -100% |
| Credit institutions | 430/8 | €150,000 | €0 | -€150,000 | -100% |
| Other loans | 439 | €2,450,000 | €0 | -€2.5m | -100% |
| Trade debts | 44 | €191,040 | €274,447 | +€83,407 | +43.7% |
| Suppliers | 440/4 | €191,040 | €274,447 | +€83,407 | +43.7% |
| Taxes, remuneration and social security | 45 | €93,265 | €13,556 | -€79,709 | -85.5% |
| Taxes | 450/3 | €83,821 | €2,785 | -€81,036 | -96.7% |
| Remuneration and social security | 454/9 | €9,443 | €10,770 | +€1,327 | +14.1% |
| Other amounts payable | 47/48 | €2,805,210 | €20,000 | -€2.8m | -99.3% |
| Accrued charges and deferred income | 492/3 | €221,038 | €10,723 | -€210,315 | -95.1% |
| Non-recurring operating income | 76A | €233,703 | €108,378 | -€125,325 | -53.6% |
| Remuneration, social security and pensions | 62 | €76,401 | €78,114 | +€1,713 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,006 | €20,630 | -€4,376 | -17.5% |
| Other operating charges | 640/8 | €6,365 | €6,777 | +€412 | +6.5% |
| Gross operating margin | 9900 | €282,677 | €207,896 | -€74,780 | -26.5% |
| Operating profit (loss) | 9901 | €174,904 | €102,375 | -€72,529 | -41.5% |
| Financial income | 75/76B | €1,780,862 | €7,169,466 | +€5.4m | +303% |
| Recurring financial income | 75 | €1,780,862 | €5,542,592 | +€3.8m | +211% |
| Non-recurring financial income | 76B | - | €1,626,874 | +€1.6m | |
| Financial charges | 65/66B | €556,206 | €1,440,867 | +€884,661 | +159% |
| Recurring financial charges | 65 | €556,206 | €1,440,867 | +€884,661 | +159% |
| Profit (loss) for the period before taxes | 9903 | €1,399,560 | €5,830,975 | +€4.4m | +317% |
| Income taxes | 67/77 | €439,340 | €177,689 | -€261,651 | -59.6% |
| Profit (loss) for the period | 9904 | €960,220 | €5,653,286 | +€4.7m | +489% |
| Transfer to tax-exempt reserves | 689 | €273,650 | €726,347 | +€452,697 | +165% |
| Profit (loss) for the period to be appropriated | 9905 | €686,570 | €4,926,938 | +€4.2m | +618% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.