AS VOEDING: what changed
Two financial 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.
AS VOEDING
Largest movements
- Stocks and contracts +€25,587
up €25,587 (+79.4%), from €32,217 to €57,804
- Cash -€9,566
down €9,566 (-18.0%), from €53,226 to €43,660
mainly Stocks and contracts (-€25,587) and Other debts (-€5,318)
- Tangible fixed assets -€6,044
down €6,044 (-65.8%), from €9,182 to €3,137
of which Furniture and vehicles: -€4,546
- Reserves +€9,355
up €9,355 (+14.5%), from €64,534 to €73,889
of which Distributable reserves: +€9,355
- Other debts -€5,318
down €5,318 (-87.2%), from €6,100 to €782
- Tax, wage and social debts +€3,519
up €3,519 (+60.5%), from €5,821 to €9,340
- Trade debts +€1,437
up €1,437 (+71.8%), from €2,001 to €3,438
- Gross operating margin +€9,806
up €9,806 (+72.0%), from €13,614 to €23,420
- Taxes +€2,221
up €2,221 (+118%), from €1,880 to €4,101
- Other operating charges +€1,896
up €1,896 (+1,013%), from €187 to €2,083
- Depreciation -€1,556
down €1,556 (-20.5%), from €7,600 to €6,044
- Financial charges +€1,534
up €1,534 (+493%), from €311 to €1,845
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.
Derived cash bridge
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 | €97,055 | €106,049 | +€8,994 | +9.3% |
| Fixed assets | 21/28 | €9,182 | €3,137 | -€6,044 | -65.8% |
| Tangible fixed assets | 22/27 | €9,182 | €3,137 | -€6,044 | -65.8% |
| Land and buildings | 22 | €2,625 | €1,966 | -€658 | -25.1% |
| Plant, machinery and equipment | 23 | €2,010 | €1,171 | -€840 | -41.8% |
| Furniture and vehicles | 24 | €4,546 | €0 | -€4,546 | -100.0% |
| Current assets | 29/58 | €87,873 | €102,911 | +€15,038 | +17.1% |
| Stocks and contracts in progress | 3 | €32,217 | €57,804 | +€25,587 | +79.4% |
| Stocks | 30/36 | €32,217 | €57,804 | +€25,587 | +79.4% |
| Amounts receivable within one year | 40/41 | €481 | €102 | -€380 | -78.9% |
| Other amounts receivable | 41 | €481 | €102 | -€380 | -78.9% |
| Cash at bank and in hand | 54/58 | €53,226 | €43,660 | -€9,566 | -18.0% |
| Deferred charges and accrued income | 490/1 | €1,949 | €1,346 | -€603 | -30.9% |
| Total equity and liabilities | 10/49 | €97,055 | €106,049 | +€8,994 | +9.3% |
| Equity | 10/15 | €83,134 | €92,489 | +€9,355 | +11.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €64,534 | €73,889 | +€9,355 | +14.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €62,674 | €72,029 | +€9,355 | +14.9% |
| Amounts payable | 17/49 | €13,921 | €13,560 | -€361 | -2.6% |
| Amounts payable within one year | 42/48 | €13,921 | €13,560 | -€361 | -2.6% |
| Trade debts | 44 | €2,001 | €3,438 | +€1,437 | +71.8% |
| Suppliers | 440/4 | €2,001 | €3,438 | +€1,437 | +71.8% |
| Taxes, remuneration and social security | 45 | €5,821 | €9,340 | +€3,519 | +60.5% |
| Taxes | 450/3 | €5,821 | €9,340 | +€3,519 | +60.5% |
| Other amounts payable | 47/48 | €6,100 | €782 | -€5,318 | -87.2% |
| Non-recurring operating income | 76A | €6,496 | €1,080 | -€5,416 | -83.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,600 | €6,044 | -€1,556 | -20.5% |
| Other operating charges | 640/8 | €187 | €2,083 | +€1,896 | +1,013% |
| Gross operating margin | 9900 | €13,614 | €23,420 | +€9,806 | +72.0% |
| Operating profit (loss) | 9901 | €5,827 | €15,293 | +€9,466 | +162% |
| Financial income | 75/76B | - | €8 | +€8 | |
| Recurring financial income | 75 | - | €8 | +€8 | |
| Financial charges | 65/66B | €311 | €1,845 | +€1,534 | +493% |
| Recurring financial charges | 65 | €311 | €1,845 | +€1,534 | +493% |
| Profit (loss) for the period before taxes | 9903 | €5,516 | €13,456 | +€7,941 | +144% |
| Income taxes | 67/77 | €1,880 | €4,101 | +€2,221 | +118% |
| Profit (loss) for the period | 9904 | €3,636 | €9,355 | +€5,720 | +157% |
| Profit (loss) for the period to be appropriated | 9905 | €3,636 | €9,355 | +€5,720 | +157% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.