PATRICK VOTION: what changed
Two fiscal 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.
PATRICK VOTION
Largest movements
- Cash -€70,626
down €70,626 (-51.0%), from €138,564 to €67,939
mainly Investment in fixed assets (net) (-€49,443) and Contributions, distributions and other (-€34,800)
- Tangible fixed assets +€39,617
up €39,617 (+1547.4%), from €2,560 to €42,177
of which Furniture and vehicles: +€40,205
- Receivables within one year +€27,200
up €27,200 (+2620.9%), from €1,038 to €28,238
of which Trade receivables: +€22,774
- Reserves -€10,800
down €10,800 (-42.9%), from €25,160 to €14,360
- Tax, wage and social debts +€4,353
up €4,353 (+25.2%), from €17,284 to €21,637
- Other debts +€1,820
up €1,820 (+5.3%), from €34,653 to €36,474
- Depreciation +€8,841
up €8,841 (+896.8%), from €986 to €9,827
- Gross operating margin +€5,452
up €5,452 (+12.0%), from €45,570 to €51,022
- Purchases and services +€3,171
up €3,171 (+24.8%), from €12,781 to €15,952
- Other operating charges +€2,098
up €2,098 (+147.0%), from €1,427 to €3,525
- Taxes +€1,202
up €1,202 (+10.7%), from €11,233 to €12,434
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.
Cash bridge derived
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 | €142,202 | €138,393 | -€3,809 | -2.7% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €2,600 | €42,217 | +€39,617 | +1523.6% |
| Tangible fixed assets | 22/27 | €2,560 | €42,177 | +€39,617 | +1547.4% |
| Land and buildings | 22 | €2,353 | €1,765 | -€588 | -25.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | €40,205 | +€40,205 | |
| Other tangible fixed assets | 26 | €207 | €207 | = | 0.0% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €139,602 | €96,176 | -€43,426 | -31.1% |
| Amounts receivable within one year | 40/41 | €1,038 | €28,238 | +€27,200 | +2620.9% |
| Trade receivables | 40 | €1,038 | €23,812 | +€22,774 | +2194.5% |
| Other amounts receivable | 41 | €0 | €4,426 | +€4,426 | |
| Cash at bank and in hand | 54/58 | €138,564 | €67,939 | -€70,626 | -51.0% |
| Total equity and liabilities | 10/49 | €142,202 | €138,393 | -€3,809 | -2.7% |
| Equity | 10/15 | €90,234 | €80,230 | -€10,004 | -11.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Other | 1109/19 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €25,160 | €14,360 | -€10,800 | -42.9% |
| Distributable reserves | 133 | €25,160 | €14,360 | -€10,800 | -42.9% |
| Profit (loss) carried forward | 14 | €52,674 | €53,470 | +€796 | +1.5% |
| Amounts payable | 17/49 | €51,968 | €58,163 | +€6,195 | +11.9% |
| Amounts payable within one year | 42/48 | €51,968 | €58,163 | +€6,195 | +11.9% |
| Trade debts | 44 | €30 | €52 | +€22 | +72.3% |
| Suppliers | 440/4 | €30 | €52 | +€22 | +72.3% |
| Taxes, remuneration and social security | 45 | €17,284 | €21,637 | +€4,353 | +25.2% |
| Taxes | 450/3 | €17,284 | €21,637 | +€4,353 | +25.2% |
| Other amounts payable | 47/48 | €34,653 | €36,474 | +€1,820 | +5.3% |
| Turnover | 70 | €55,165 | €54,948 | -€216 | -0.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €12,781 | €15,952 | +€3,171 | +24.8% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €986 | €9,827 | +€8,841 | +896.8% |
| Other operating charges | 640/8 | €1,427 | €3,525 | +€2,098 | +147.0% |
| Gross operating margin | 9900 | €45,570 | €51,022 | +€5,452 | +12.0% |
| Operating profit (loss) | 9901 | €43,157 | €37,670 | -€5,487 | -12.7% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €424 | €440 | +€17 | +3.9% |
| Recurring financial charges | 65 | €424 | €440 | +€17 | +3.9% |
| Profit (loss) for the period before taxes | 9903 | €42,734 | €37,230 | -€5,504 | -12.9% |
| Income taxes | 67/77 | €11,233 | €12,434 | +€1,202 | +10.7% |
| Profit (loss) for the period | 9904 | €31,501 | €24,796 | -€6,705 | -21.3% |
| Profit (loss) for the period to be appropriated | 9905 | €31,501 | €24,796 | -€6,705 | -21.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.