VZION: what changed
Two fiscal 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.
VZION
Largest movements
- Tangible fixed assets +€474,580
up €474,580 (+86.6%), from €547,725 to €1.0m
of which Land and buildings: +€479,856
- Intangible fixed assets +€62,092
up €62,092 (+195.9%), from €31,697 to €93,789
- Debts after one year +€394,397
up €394,397 (+99.1%), from €398,051 to €792,449
- Other debts +€167,704
up €167,704 (+32500.7%), from €516 to €168,220
- Profit (loss) carried forward -€34,038
down €34,038 (-56.3%), from -€60,496 to -€94,534
- Financial charges +€18,848
up €18,848 (+145.3%), from €12,973 to €31,821
- Gross operating margin +€7,245
up €7,245 (+19.4%), from €37,292 to €44,537
- Depreciation +€5,614
up €5,614 (+17.7%), from €31,633 to €37,247
- Other operating charges +€3,230
up €3,230 (+51.4%), from €6,278 to €9,508
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.
Cash bridge derived
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 | €580,243 | €1,119,562 | +€539,319 | +92.9% |
| Fixed assets | 21/28 | €579,422 | €1,116,094 | +€536,672 | +92.6% |
| Intangible fixed assets | 21 | €31,697 | €93,789 | +€62,092 | +195.9% |
| Tangible fixed assets | 22/27 | €547,725 | €1,022,305 | +€474,580 | +86.6% |
| Land and buildings | 22 | €542,449 | €1,022,305 | +€479,856 | +88.5% |
| Other tangible fixed assets | 26 | €5,276 | - | -€5,276 | |
| Current assets | 29/58 | €821 | €3,468 | +€2,647 | +322.6% |
| Amounts receivable within one year | 40/41 | €300 | €548 | +€248 | +82.5% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €300 | €548 | +€248 | +82.5% |
| Cash at bank and in hand | 54/58 | €521 | €2,920 | +€2,400 | +461.0% |
| Total equity and liabilities | 10/49 | €580,243 | €1,119,562 | +€539,319 | +92.9% |
| Equity | 10/15 | €158,014 | €123,976 | -€34,038 | -21.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Revaluation surpluses | 12 | €208,510 | €208,510 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€60,496 | -€94,534 | -€34,038 | -56.3% |
| Amounts payable | 17/49 | €422,229 | €995,585 | +€573,357 | +135.8% |
| Amounts payable after more than one year | 17 | €398,051 | €792,449 | +€394,397 | +99.1% |
| Financial debts | 170/4 | €398,051 | €792,449 | +€394,397 | +99.1% |
| Amounts payable within one year | 42/48 | €24,177 | €203,136 | +€178,959 | +740.2% |
| Current portion of amounts payable after more than one year | 42 | €18,698 | €21,603 | +€2,904 | +15.5% |
| Trade debts | 44 | €4,663 | €13,014 | +€8,351 | +179.1% |
| Suppliers | 440/4 | €4,663 | €13,014 | +€8,351 | +179.1% |
| Taxes, remuneration and social security | 45 | €300 | €300 | = | 0.0% |
| Taxes | 450/3 | €300 | €300 | = | 0.0% |
| Other amounts payable | 47/48 | €516 | €168,220 | +€167,704 | +32500.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,633 | €37,247 | +€5,614 | +17.7% |
| Other operating charges | 640/8 | €6,278 | €9,508 | +€3,230 | +51.4% |
| Non-recurring operating charges | 66A | €300 | - | -€300 | |
| Gross operating margin | 9900 | €37,292 | €44,537 | +€7,245 | +19.4% |
| Operating profit (loss) | 9901 | -€919 | -€2,217 | -€1,299 | -141.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €12,973 | €31,821 | +€18,848 | +145.3% |
| Recurring financial charges | 65 | €12,973 | €31,821 | +€18,848 | +145.3% |
| Profit (loss) for the period before taxes | 9903 | -€13,892 | -€34,038 | -€20,146 | -145.0% |
| Profit (loss) for the period | 9904 | -€13,892 | -€34,038 | -€20,146 | -145.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,892 | -€34,038 | -€20,146 | -145.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.