VO-IT
Absorbed by Van Oirschot Verwarmingsgroothandel NVFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 20-01-2026 PDF all 17 filings
Turnover
≈ €1.2m
Estimated: probably between €750,000 and €2.1m
Total assets
€1.1m▼ 13.9%
2024 · €1.3m
Net result
€191,519▼ 50.3%
2024 · €385,474
Working capital
€454,078▲ 149%
2024 · €182,611
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€259,382
▼ 50.3%
2025
20182025
Net result
€191,519
▼ 50.3%
2025
20182025
Equity
€924,914
▲ 26.1%
2025
20182025
Total assets
€1.1m
▼ 13.9%
2025
20182025
Debt
€165,035
▼ 69.0%
2025
20182025
Working capital
€454,078
▲ 149%
2025
20182025
Staff (FTE)
3.3
▼ 21.4%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.1m-€0.3m▲ 214%€0.4m▲ 22.6%€0.5m▲ 11.0%€0.4m▼ 6.8%€0.3m▼ 18.0%€0.5m▲ 49.2%€0.3m▼ 50.3%
Net result€0.07m-€0.2m▲ 223%€0.3m▲ 28.2%€0.3m▲ 11.9%€0.3m▼ 8.1%€0.2m▼ 22.8%€0.4m▲ 58.8%€0.2m▼ 50.3%
Equity€0.01m-€0.03m▲ 238%€0.03m▲ 1.6%€0.2m▲ 421%€0.5m▲ 179%€0.7m▲ 49.5%€0.7m▲ 0.1%€0.9m▲ 26.1%
Total assets€0.2m-€0.3m▲ 56.7%€0.5m▲ 51.9%€1.2m▲ 144%€1.0m▼ 15.3%€1.0m▼ 0.2%€1.3m▲ 25.9%€1.1m▼ 13.9%
Debt€0.2m-€0.3m▲ 47.5%€0.5m▲ 57.7%€1.0m▲ 124%€0.5m▼ 49.0%€0.3m▼ 47.3%€0.5m▲ 95.4%€0.2m▼ 69.0%
Working capital€0.009m-€0.03m▲ 208%€0.01m▼ 65.0%-€0.03m€0.05m€0.08m▲ 55.4%€0.2m▲ 123%€0.5m▲ 149%
Staff (FTE)1.1-3.1▲ 182%3.5▲ 12.9%4.8▲ 37.1%3.8▼ 20.8%3.6▼ 5.3%4.2▲ 16.7%3.3▼ 21.4%
The operating result for 2025 is 50% lower than in 2024 and the lowest since 2018.
Large changes and their cause
- 2025 Net result -50% on 2024. Last accounts before the absorption by Van Oirschot Verwarmingsgroothandel NV (effective 31-12-2025). This financial year ran 6 months, the previous one 12.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€471,228 ▼ 14.4%
Current assets
€618,721 ▼ 13.5%
Equity and liabilities €1.1m
Equity
€924,914 ▲ 26.1%
Debt
€165,035 ▼ 69.0%
Debt's share of the balance-sheet total falls from 42.1% to 15.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€397,692▼
2024 · €793,037
Cash flow
€329,828▼
2024 · €656,405
Current ratio
3.76▲
2024 · 1.34
Debt to equity
0.18▼
2024 · 0.73
ROE
20.7%▼
2024 · 52.6%
ROA
17.6%▼
2024 · 30.4%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€164,643▼
2024 · €532,873
Income taxes
€66,188▼
2024 · €130,998
Staff costs
€127,458▼
2024 · €310,393
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 30-06-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 4 | 4 | 3 | 4 | 3 |
| full-time | 4 | 4 | 3 | 4 | 3 |
| part-time | - | 0 | 0 | 0 | 0 |
| in full-time equivalents | 4 | 4 | 3 | 4 | 3 |
| Average over the year, in full-time equivalents | 4.8 | 3.8 | 3.6 | 4.2 | 3.3 |
| On a permanent contract | 4 | 4 | 3 | 4 | 3 |
| Joined | 1 | 1 | 0 | 2 | 0 |
| Left | 2 | 1 | 1 | 1 | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 30-06-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €539,379 | €201,258 | €70,697 | €90,053 | €28,839 |
| Intangible fixed assets | €11,283 | - | €265,525 | €82,969 | €29,915 |
| Depreciation and write-downs of the year | €97,608 | €153,681 | €230,343 | €270,931 | €138,310 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €0.02m | - |
| Remuneration, social security and pensions62 | - | - | - | €0.4m | €0.3m | €0.3m | €0.3m | €0.1m | ▼ 58.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €278 | €0.009m | €0.009m | €0.1m | €0.2m | €0.2m | €0.3m | €0.1m | ▼ 49.0% |
| Other operating charges640/8 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €240 | ▼ 63.3% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €179 | €0 | ▼ 100% |
| Gross operating margin9900 | €0.1m | €0.6m | €0.7m | €0.9m | €0.9m | €0.9m | €1.1m | €0.5m | ▼ 52.4% |
| Operating profit (loss)9901 | €0.1m | €0.3m | €0.4m | €0.5m | €0.4m | €0.3m | €0.5m | €0.3m | ▼ 50.3% |
| Financial income75/76B | - | - | - | €0.005m | €0 | €30 | €0 | - | - |
| Recurring financial income75 | - | €1 | - | €0.005m | €0 | €30 | €0 | - | - |
| Financial charges65/66B | - | - | - | €0.003m | €0.004m | €0.004m | €0.006m | €0.002m | ▼ 70.3% |
| Recurring financial charges65 | €27 | €258 | €0.001m | €0.003m | €0.004m | €0.004m | €0.006m | €0.002m | ▼ 70.3% |
| Profit (loss) for the period before taxes9903 | €0.1m | €0.3m | €0.4m | €0.5m | €0.4m | €0.3m | €0.5m | €0.3m | ▼ 50.1% |
| Income taxes67/77 | €0.03m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.07m | ▼ 49.5% |
| Profit (loss) for the period9904 | €0.07m | €0.2m | €0.3m | €0.3m | €0.3m | €0.2m | €0.4m | €0.2m | ▼ 50.3% |
| Profit (loss) for the period to be appropriated9905 | €0.07m | €0.2m | €0.3m | €0.3m | €0.3m | €0.2m | €0.4m | €0.2m | ▼ 50.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.2m | €0.3m | €0.5m | €1.2m | €1.0m | €1.0m | €1.3m | €1.1m | ▼ 13.9% |
| Fixed assets21/28 | €0.001m | €0.03m | €0.04m | €0.5m | €0.5m | €0.7m | €0.6m | €0.5m | ▼ 14.4% |
| Intangible fixed assets21 | - | - | - | €0.01m | €0.008m | €0.2m | €0.3m | €0.2m | ▼ 2.8% |
| Tangible fixed assets22/27 | €0.001m | €0.03m | €0.04m | €0.5m | €0.5m | €0.4m | €0.3m | €0.2m | ▼ 24.5% |
| Plant, machinery and equipment23 | - | - | - | €0.5m | €0.5m | €0.4m | €0.3m | €0.2m | ▼ 24.0% |
| Furniture and vehicles24 | - | - | - | €0.03m | €0.02m | €0.007m | €0.003m | €0.001m | ▼ 63.7% |
| Current assets29/58 | €0.2m | €0.3m | €0.4m | €0.7m | €0.5m | €0.4m | €0.7m | €0.6m | ▼ 13.5% |
| Amounts receivable within one year40/41 | €0.1m | €0.1m | €0.4m | €0.2m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 1.8% |
| Trade receivables40 | - | - | - | €0.2m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 16.7% |
| Other amounts receivable41 | - | - | - | - | €0.002m | €0.02m | €0.02m | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €0.1m | €0.2m | €0.008m | €0.4m | €0.3m | €0.2m | €0.5m | €0.4m | ▼ 14.2% |
| Deferred charges and accrued income490/1 | - | - | - | €0.03m | €0.04m | €0.05m | €0.04m | €0.009m | ▼ 75.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.2m | €0.3m | €0.5m | €1.2m | €1.0m | €1.0m | €1.3m | €1.1m | ▼ 13.9% |
| Equity10/15 | €0.01m | €0.03m | €0.03m | €0.2m | €0.5m | €0.7m | €0.7m | €0.9m | ▲ 26.1% |
| Contributions10/11 | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Reserves13 | €0.002m | €0.002m | €0.002m | €0.2m | €0.5m | €0.7m | €0.7m | €0.7m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €0.2m | €0.5m | €0.7m | €0.7m | €0.7m | = |
| Profit (loss) carried forward14 | €0.002m | €0.03m | €0.03m | €0.003m | €0.003m | €0.003m | €0 | €0.2m | - |
| Amounts payable17/49 | €0.2m | €0.3m | €0.5m | €1.0m | €0.5m | €0.3m | €0.5m | €0.2m | ▼ 69.0% |
| Amounts payable after more than one year17 | - | €0.03m | €0.02m | €0.3m | €0.1m | €0 | - | - | - |
| Financial debts170/4 | - | - | - | €0.3m | €0.1m | €0 | - | - | - |
| Amounts payable within one year42/48 | €0.2m | €0.3m | €0.4m | €0.7m | €0.4m | €0.3m | €0.5m | €0.2m | ▼ 69.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.2m | €0.2m | €0.1m | €0 | - | - |
| Financial debts43 | - | - | - | - | €0.04m | €0.04m | €0.03m | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | - | €0.04m | €0.04m | €0.03m | €0 | ▼ 100% |
| Trade debts44 | €0.03m | €0.009m | €0.03m | €0.02m | €0.1m | €0.09m | €0.06m | €0.1m | ▲ 82.2% |
| Suppliers440/4 | - | - | - | €0.02m | €0.1m | €0.09m | €0.06m | €0.1m | ▲ 82.2% |
| Taxes, remuneration and social security45 | - | - | - | €0.09m | €0.05m | €0.04m | €0.06m | €0.05m | ▼ 17.9% |
| Taxes450/3 | - | - | - | €0.07m | €0.02m | €0.004m | €0.03m | €0.03m | ▲ 20.5% |
| Remuneration and social security454/9 | - | - | - | €0.02m | €0.03m | €0.03m | €0.03m | €0.01m | ▼ 54.2% |
| Other amounts payable47/48 | - | - | - | €0.4m | €0 | - | €0.4m | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €392 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €73,736 | €238,359 | €305,537 | €342,026 | €314,436 | €242,728 | €385,474 | €191,519 | ▼ 50.3% |
| + Depreciation and write-downs630 | €278 | €8,681 | €9,479 | €97,608 | €153,681 | €230,343 | €270,931 | €138,310 | ▼ 49.0% |
| Operating cash flow (approximation) | €74,014 | €247,040 | €315,016 | €439,634 | €468,117 | €473,071 | €656,405 | €329,828 | ▼ 49.8% |
| Investment in fixed assets (approximation) | - | -€41,126 | -€20,798 | -€550,662 | -€201,258 | -€336,222 | -€170,525 | -€58,754 | ▲ 65.5% |
| Change in cash | - | €93,179 | -€179,701 | €440,793 | -€150,913 | -€120,251 | €334,566 | -€72,754 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | abbreviated format | 20-01-2026 | 2026-00010791 | |
| 31-12-2024 | abbreviated format | 15-04-2025 | 2025-00069779 | |
| 31-12-2023 | abbreviated format | 03-07-2024 | 2024-00200681 | |
| 31-12-2022 | abbreviated format | 13-07-2023 | 2023-00232223 | |
| 31-12-2021 | abbreviated format | 30-06-2022 | 2022-20158405 | |
| 31-12-2020 | abbreviated format | 12-07-2021 | 2021-34100054 | |
| 31-12-2019 | abbreviated format | 19-03-2020 | 2020-07100161 | |
| 31-12-2018 | abbreviated format | 02-07-2019 | 2019-27600210 | |
| 30-09-2018 | abbreviated format | 20-12-2018 | 2018-75300114 | |
| 30-09-2017 | abbreviated format | 29-01-2018 | 2018-02600086 |