Vsible: 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.
Vsible
Largest movements
- Receivables within one year -€15,463
down €15,463 (-93.0%), from €16,629 to €1,165
of which Trade receivables: -€15,249
- Tangible fixed assets -€14,469
down €14,469 (-20.6%), from €70,215 to €55,745
of which Furniture and vehicles: -€10,496
- Current investments +€7,021
new in 2025: €7,021
- Cash -€1,143
down €1,143 (-30.3%), from €3,767 to €2,624
mainly Net result for the year (-€11,774) and Debts after one year (-€8,782)
- Profit (loss) carried forward -€11,774
new in 2025: -€11,774
- Debts after one year -€8,782
down €8,782 (-16.1%), from €54,385 to €45,603
- Tax, wage and social debts -€2,753
down €2,753 (-45.7%), from €6,029 to €3,276
- Gross operating margin -€10,623
down €10,623 (-59.6%), from €17,817 to €7,194
- Depreciation +€9,297
up €9,297 (+152%), from €6,122 to €15,419
- Taxes -€2,366
down €2,366 (-93.7%), from €2,526 to €160
- Financial charges +€1,492
up €1,492 (+171%), from €872 to €2,364
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 | €92,752 | €69,234 | -€23,518 | -25.4% |
| Fixed assets | 21/28 | €70,215 | €55,745 | -€14,469 | -20.6% |
| Tangible fixed assets | 22/27 | €70,215 | €55,745 | -€14,469 | -20.6% |
| Plant, machinery and equipment | 23 | €11,132 | €8,323 | -€2,810 | -25.2% |
| Furniture and vehicles | 24 | €51,237 | €40,741 | -€10,496 | -20.5% |
| Other tangible fixed assets | 26 | €7,846 | €6,681 | -€1,164 | -14.8% |
| Current assets | 29/58 | €22,538 | €13,489 | -€9,049 | -40.1% |
| Amounts receivable within one year | 40/41 | €16,629 | €1,165 | -€15,463 | -93.0% |
| Trade receivables | 40 | €16,414 | €1,165 | -€15,249 | -92.9% |
| Other amounts receivable | 41 | €214 | - | -€214 | |
| Current investments | 50/53 | - | €7,021 | +€7,021 | |
| Cash at bank and in hand | 54/58 | €3,767 | €2,624 | -€1,143 | -30.3% |
| Deferred charges and accrued income | 490/1 | €2,142 | €2,678 | +€536 | +25.0% |
| Total equity and liabilities | 10/49 | €92,752 | €69,234 | -€23,518 | -25.4% |
| Equity | 10/15 | €28,293 | €16,519 | -€11,774 | -41.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €26,293 | €26,293 | = | 0.0% |
| Distributable reserves | 133 | €26,293 | €26,293 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€11,774 | -€11,774 | |
| Amounts payable | 17/49 | €64,459 | €52,715 | -€11,744 | -18.2% |
| Amounts payable after more than one year | 17 | €54,385 | €45,603 | -€8,782 | -16.1% |
| Financial debts | 170/4 | €54,385 | €45,603 | -€8,782 | -16.1% |
| Amounts payable within one year | 42/48 | €10,074 | €7,113 | -€2,961 | -29.4% |
| Trade debts | 44 | €1,072 | €567 | -€505 | -47.1% |
| Suppliers | 440/4 | €1,072 | €567 | -€505 | -47.1% |
| Taxes, remuneration and social security | 45 | €6,029 | €3,276 | -€2,753 | -45.7% |
| Taxes | 450/3 | €6,029 | €3,276 | -€2,753 | -45.7% |
| Other amounts payable | 47/48 | €2,974 | €3,270 | +€297 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,122 | €15,419 | +€9,297 | +152% |
| Other operating charges | 640/8 | €1,050 | €1,027 | -€23 | -2.2% |
| Non-recurring operating charges | 66A | €4,297 | - | -€4,297 | |
| Gross operating margin | 9900 | €17,817 | €7,194 | -€10,623 | -59.6% |
| Operating profit (loss) | 9901 | €6,348 | -€9,252 | -€15,600 | |
| Financial income | 75/76B | €9 | €1 | -€8 | -86.3% |
| Recurring financial income | 75 | €9 | €1 | -€8 | -86.3% |
| Financial charges | 65/66B | €872 | €2,364 | +€1,492 | +171% |
| Recurring financial charges | 65 | €872 | €2,364 | +€1,492 | +171% |
| Profit (loss) for the period before taxes | 9903 | €5,485 | -€11,614 | -€17,099 | |
| Income taxes | 67/77 | €2,526 | €160 | -€2,366 | -93.7% |
| Profit (loss) for the period | 9904 | €2,959 | -€11,774 | -€14,734 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,959 | -€11,774 | -€14,734 |
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.