diff --git a/netbox_utilities/__init__.py b/netbox_utilities/__init__.py
index 743a75c..b645c51 100644
--- a/netbox_utilities/__init__.py
+++ b/netbox_utilities/__init__.py
@@ -1,6 +1,6 @@
 from netbox.plugins import PluginConfig, get_plugin_config
 
-__version__ = "0.12.0"
+__version__ = "0.12.1"
 
 
 class NetBoxUtilitiesConfig(PluginConfig):
diff --git a/netbox_utilities/svg_export.py b/netbox_utilities/svg_export.py
index 8ebce93..2a0800e 100644
--- a/netbox_utilities/svg_export.py
+++ b/netbox_utilities/svg_export.py
@@ -11,24 +11,30 @@ _IMAGE_TAGS = (f"{{{SVG_NS}}}image", "image")
 _HREF_ATTRS = ("href", f"{{{XLINK_NS}}}href")
 
 RACK_VIEW_MODES = {"images-and-labels", "images-only", "labels-only"}
-_LABEL_CLASSES = {"label"}
-_IMAGE_CLASSES = {"device-image", "device-image-label"}
+_PLAIN_LABEL_CLASS = "label"
+_IMAGE_CLASS = "device-image"
+_IMAGE_LABEL_CLASS = "device-image-label"
 
 
 def apply_rack_view_mode(svg_source, mode):
-    """Mirror the rack elevation page's "Bilder"/"Beschriftungen" toggle server-side.
+    """Filter the rack elevation SVG down to images-only or labels-only content.
 
-    That toggle only hides elements client-side via CSS after the browser
-    already has the full SVG, so a freshly server-rendered export needs its
-    own equivalent to honor the mode the user had selected.
+    NetBox's own "Bilder"/"Beschriftungen" toggle never actually removes the
+    plain .label text: it just leaves an opaque .device-image sitting on top
+    of it, so a device without a photo still shows its name in "images-only"
+    live. A downloaded, static export has no such fallback text to hide
+    behind an image, so here "images-only" removes every label outright
+    (.label and .device-image-label) to always produce a pure image view,
+    and "labels-only" removes the image layer to reproduce the same
+    box-with-text view NetBox itself already shows for that mode.
     """
     if mode not in RACK_VIEW_MODES or mode == "images-and-labels":
         return svg_source
     root = ET.fromstring(svg_source)
     if mode == "images-only":
-        _remove_elements_with_class(root, _LABEL_CLASSES)
+        _remove_elements_with_class(root, {_PLAIN_LABEL_CLASS, _IMAGE_LABEL_CLASS})
     elif mode == "labels-only":
-        _remove_elements_with_class(root, _IMAGE_CLASSES)
+        _remove_elements_with_class(root, {_IMAGE_CLASS, _IMAGE_LABEL_CLASS})
     return ET.tostring(root, encoding="unicode")
 
 
diff --git a/netbox_utilities/tests/test_svg_export.py b/netbox_utilities/tests/test_svg_export.py
index 18665dd..bcbb642 100644
--- a/netbox_utilities/tests/test_svg_export.py
+++ b/netbox_utilities/tests/test_svg_export.py
@@ -105,14 +105,14 @@ class ApplyRackViewModeTest(SimpleTestCase):
     def test_images_and_labels_leaves_svg_untouched(self):
         self.assertEqual(apply_rack_view_mode(self.SVG, "images-and-labels"), self.SVG)
 
-    def test_images_only_removes_label_text(self):
+    def test_images_only_keeps_only_the_image(self):
         result = apply_rack_view_mode(self.SVG, "images-only")
 
         self.assertNotIn('class="label"', result)
+        self.assertNotIn("device-image-label", result)
         self.assertIn('class="device-image"', result)
-        self.assertIn('class="device-image-label"', result)
 
-    def test_labels_only_removes_device_images(self):
+    def test_labels_only_keeps_only_the_plain_label(self):
         result = apply_rack_view_mode(self.SVG, "labels-only")
 
         self.assertIn('class="label"', result)
diff --git a/pyproject.toml b/pyproject.toml
index 4c1f1f1..47dd135 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -4,7 +4,7 @@ build-backend = "hatchling.build"
 
 [project]
 name = "netbox-utilities"
-version = "0.12.0"
+version = "0.12.1"
 description = "Navigation, tenant utilities, connection VLANs, partial-width racks, and bulk operations for NetBox 4.6/4.7"
 readme = "README.md"
 requires-python = ">=3.12"