VOTTERS
ActiveSummary
VOTTERS has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €24,745 and a net result of €2,201. Equity is growing by ~10.2% per year across the filed fiscal years. Its solvency ranks better than 37% of 30651 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Financials · fiscal year 2025, micro schema
Equity
€24,745▼ 3.1%
2024 · €25,544
Total assets
€70,840▲ 9.7%
2024 · €64,594
Net result
€2,201▼ 78.1%
2024 · €10,043
Working capital
-€25,255=
2024 · -€25,253
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€12,039€10,712▼ 11.0%€16,156▲ 50.8%€13,702▼ 15.2%€3,582▼ 73.9%
Net result€10,348within the sector's middle half€9,915within the sector's middle half▼ 4.2%€12,721within the sector's middle half▲ 28.3%€10,043within the sector's middle half▼ 21.1%€2,201within the sector's middle half▼ 78.1%
Equity€14,364below the sector's middle half▲ 258%€20,780within the sector's middle half▲ 44.7%€21,501within the sector's middle half▲ 3.5%€25,544within the sector's middle half▲ 18.8%€24,745within the sector's middle half▼ 3.1%
Total assets€66,641below the sector's middle half▼ 4.1%€60,023below the sector's middle half▼ 9.9%€60,755below the sector's middle half▲ 1.2%€64,594below the sector's middle half▲ 6.3%€70,840within the sector's middle half▲ 9.7%
Debt€52,277▼ 20.1%€39,243▼ 24.9%€39,254=€39,050▼ 0.5%€46,095▲ 18.0%
Working capital-€25,218below the sector's middle half▲ 24.4%-€21,237below the sector's middle half▲ 15.8%-€26,256below the sector's middle half▼ 23.6%-€25,253below the sector's middle half▲ 3.8%-€25,255below the sector's middle half=
Solvency21.6%below the sector's middle half▲ 15.8pp34.6%within the sector's middle half▲ 13.1pp35.4%within the sector's middle half▲ 0.8pp39.5%within the sector's middle half▲ 4.2pp34.9%within the sector's middle half▼ 4.6pp
Current ratio0.31below the sector's middle half▲ 0.060.27below the sector's middle half▼ 0.040.24below the sector's middle half▼ 0.020.35below the sector's middle half▲ 0.110.45below the sector's middle half▲ 0.10
Return on assets (ROA)15.5%within the sector's middle half▲ 39.9pp16.5%within the sector's middle half▲ 1.0pp20.9%above the sector's middle half▲ 4.4pp15.5%within the sector's middle half▼ 5.4pp3.1%within the sector's middle half▼ 12.4pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 74% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €70,840
Fixed assets
€50,000 ▼ 1.6%
Current assets
€20,840 ▲ 51.0%
Equity and liabilities €70,840
Equity
€24,745 ▼ 3.1%
Debt
€46,095 ▲ 18.0%
Debt's share of the balance-sheet total rises from 60.5% to 65.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€4,379▼
2024 · €15,165
Cash flow
€2,998▼
2024 · €11,505
Quick ratio
0.43▲
2024 · 0.33
Debt to equity
1.86▲
2024 · 1.53
ROE
8.9%▼
2024 · 39.3%
Interest coverage
11.81▼
2024 · 27.98
Debt ≤ 1 year
€46,095▲
2024 · €39,050
Income taxes
€1,016▼
2024 · €3,126
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,170 | €3,163 | €1,030 | €1,462 | €797 | ▼ 45.5% |
| Other operating charges640/8 | €1,318 | €2,243 | €2,761 | €1,947 | €2,247 | ▲ 15.4% |
| Gross operating margin9900 | €17,527 | €16,117 | €19,946 | €17,111 | €6,626 | ▼ 61.3% |
| Operating profit (loss)9901 | €12,039 | €10,712 | €16,156 | €13,702 | €3,582 | ▼ 73.9% |
| Financial income75/76B | €14 | €0 | €3 | €8 | €5 | ▼ 36.1% |
| Recurring financial income75 | €14 | €0 | €3 | €8 | €5 | ▼ 36.1% |
| Financial charges65/66B | €1,499 | €797 | €710 | €542 | €371 | ▼ 31.6% |
| Recurring financial charges65 | €1,499 | €797 | €710 | €542 | €371 | ▼ 31.6% |
| Profit (loss) for the period before taxes9903 | €10,554 | €9,915 | €15,449 | €13,169 | €3,217 | ▼ 75.6% |
| Income taxes67/77 | €207 | - | €2,728 | €3,126 | €1,016 | ▼ 67.5% |
| Profit (loss) for the period9904 | €10,348 | €9,915 | €12,721 | €10,043 | €2,201 | ▼ 78.1% |
| Profit (loss) for the period to be appropriated9905 | €10,348 | €9,915 | €12,721 | €10,043 | €2,201 | ▼ 78.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €66,641 | €60,023 | €60,755 | €64,594 | €70,840 | ▲ 9.7% |
| Fixed assets21/28 | €55,493 | €52,330 | €52,259 | €50,797 | €50,000 | ▼ 1.6% |
| Tangible fixed assets22/27 | €5,493 | €2,330 | €2,259 | €797 | - | - |
| Plant, machinery and equipment23 | €781 | €577 | €374 | €170 | - | - |
| Furniture and vehicles24 | - | - | €912 | €432 | - | - |
| Other tangible fixed assets26 | €4,712 | €1,753 | €974 | €195 | - | - |
| Financial fixed assets28 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Current assets29/58 | €11,148 | €7,693 | €8,495 | €13,797 | €20,840 | ▲ 51.0% |
| Stocks and contracts in progress3 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Stocks30/36 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Amounts receivable within one year40/41 | €7,562 | €2,664 | €6,697 | €5,860 | €15,364 | ▲ 162% |
| Trade receivables40 | €6,141 | €1,580 | €5,614 | €4,580 | €14,394 | ▲ 214% |
| Other amounts receivable41 | €1,421 | €1,084 | €1,083 | €1,280 | €970 | ▼ 24.3% |
| Cash at bank and in hand54/58 | €1,584 | €3,266 | - | €6,781 | €4,476 | ▼ 34.0% |
| Deferred charges and accrued income490/1 | €1,001 | €762 | €798 | €155 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €66,641 | €60,023 | €60,755 | €64,594 | €70,840 | ▲ 9.7% |
| Equity10/15 | €14,364 | €20,780 | €21,501 | €25,544 | €24,745 | ▼ 3.1% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | -€6,096 | €320 | €1,041 | €5,084 | €4,285 | ▼ 15.7% |
| Amounts payable17/49 | €52,277 | €39,243 | €39,254 | €39,050 | €46,095 | ▲ 18.0% |
| Amounts payable after more than one year17 | €15,911 | €10,313 | €4,503 | - | - | - |
| Financial debts170/4 | €15,911 | €10,313 | €4,503 | - | - | - |
| Amounts payable within one year42/48 | €36,366 | €28,930 | €34,751 | €39,050 | €46,095 | ▲ 18.0% |
| Current portion of amounts payable after more than one year42 | €28,393 | €20,598 | €15,810 | €14,503 | €10,000 | ▼ 31.0% |
| Financial debts43 | - | - | €49 | - | - | - |
| Credit institutions430/8 | - | - | €49 | - | - | - |
| Trade debts44 | €1,862 | €4,084 | €3,245 | €2,205 | - | - |
| Suppliers440/4 | €1,862 | €4,084 | €3,245 | €2,205 | - | - |
| Taxes, remuneration and social security45 | - | - | €2,728 | €12,800 | €8,814 | ▼ 31.1% |
| Taxes450/3 | - | - | €2,728 | €2,800 | €3,814 | ▲ 36.2% |
| Remuneration and social security454/9 | - | - | - | €10,000 | €5,000 | ▼ 50.0% |
| Other amounts payable47/48 | €6,111 | €4,248 | €12,918 | €9,542 | €27,281 | ▲ 186% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,348 | €9,915 | €12,721 | €10,043 | €2,201 | ▼ 78.1% |
| + Depreciation and write-downs630 | €4,170 | €3,163 | €1,030 | €1,462 | €797 | ▼ 45.5% |
| Operating cash flow (approximation) | €14,518 | €13,078 | €13,751 | €11,505 | €2,998 | ▼ 73.9% |
| Investment in fixed assets (approximation) | - | €0 | -€959 | €0 | €0 | - |
| Change in cash | - | €1,682 | - | - | -€2,305 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
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Of 11,139 companies in this sector we hold annual accounts for 5,517. 4,175 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector