VIS Annual Report 2023-2024 - Report - Page 9
Annual Report 2024 – 2025
7
Profit & Loss Statement
01/08/23 –31/07/24
01/08/22–31/07/23
39,637,091.95
35,670,746.92
294,581.55
116,192.11
39,931,673.50
35,786,939.03
3,175,952.58
3,155,413.64
31,811,592.10
28,581,758.50
Amortisation and depreciation
1,255,224.50
1,242,693.90
Other operating expenses
2,078,554.77
2,010,333.02
OPERATING PROFIT
1,610,349.55
796,739.97
394,680.24
49,797.08
NET PROFIT FOR THE YEAR
2,005,029.79
846,537.05
Release of reserves
3,194,529.00
193,925.40
Allocation to reserves
5,199,558.79
1,040,462.45
0.00
0.00
Owner’s Capital
15,493,691.90
13,488,662.11
Annual Net Cash Flow
10,915,345.20
11,055,417.72
Net revenue incl. subsidies
Other operating income
TOTAL INCOME
Cost of materials and purchased services
Personnel expenses
Financial Result
PROFIT/LOSS FOR THE YEAR
Balance Sheet Ratios
Capital Investments
Each year, the Capital Fee paid by new students, along with the depreciation of fixed
assets, fund investments in campus building and infrastructure repairs and improvements. In the fall of 2024, the Board
of Governors decided to take a technical
assessment of the building before continuing facilities and infrastructure projects to
meet safety, modernization and compliance issues. The technical assessment is
foreseen to take place in the first quarter of
2025. However, the following major project was approved and carried out during
the school year:
● Electrical and lighting project phase 2
and 3
The school’s aging electrical system requires a complete renovation. Since the
electrical work can only be carried out
during the annual summer break, the
project has been divided into eight phases,
with one or two phases completed each
summer. The project consists of replacing
all old wiring and electrical fixtures such
as switches and sockets, replacing old
lighting with energy-efficient LED lamps,
replacing LAN cables and outlets with the
latest standards, and replacing the ceilings in hallways, classrooms and offices
once the electrical work is complete in
each section. The first phase of the project was completed in August 2023 and
included the ground floor of the Primary
wing of the school. The project continued
in summer 2024 with the completion of
wiring, lighting, LAN upgrade and ceiling
replacement in floor 1 and 2 of the Primary section.
2024–25 Budget
In February 2024, the Board of Governors approved a balanced budget for the
