PLACO VOUGA: 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.
PLACO VOUGA
Largest movements
- Cash -€192,698
down €192,698 (-93.7%), from €205,599 to €12,901
mainly Trade debts (-€55,556) and Deferred charges and accrued income (-€50,552)
- Deferred charges and accrued income +€50,552
up €50,552 (+1,308%), from €3,864 to €54,417
- Receivables within one year +€42,655
up €42,655 (+22.8%), from €187,364 to €230,019
of which Other amounts receivable: +€23,093
- Tangible fixed assets +€27,494
up €27,494 (+496%), from €5,546 to €33,040
- Trade debts -€55,556
down €55,556 (-56.5%), from €98,272 to €42,716
- Accrued charges and deferred income -€36,939
down €36,939 (-88.2%), from €41,877 to €4,938
- Short-term financial debts +€27,900
up €27,900 (+27,766%), from €100 to €28,000
- Debts after one year +€11,983
new in 2025: €11,983
- Profit (loss) carried forward -€9,410
down €9,410 (-4.6%), from €205,911 to €196,501
- Gross operating margin -€205,937
down €205,937 (-74.2%), from €277,550 to €71,614
- Taxes -€44,597
down €44,597 (-100.0%), from €44,597 to €0
- Staff costs -€13,418
down €13,418 (-18.7%), from €71,901 to €58,483
- Other operating charges -€3,637
down €3,637 (-40.2%), from €9,055 to €5,418
- Depreciation +€2,906
up €2,906 (+57.6%), from €5,042 to €7,948
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 | €402,884 | €330,886 | -€71,998 | -17.9% |
| Fixed assets | 21/28 | €6,056 | €33,550 | +€27,494 | +454% |
| Tangible fixed assets | 22/27 | €5,546 | €33,040 | +€27,494 | +496% |
| Furniture and vehicles | 24 | €5,546 | €33,040 | +€27,494 | +496% |
| Financial fixed assets | 28 | €510 | €510 | = | 0.0% |
| Current assets | 29/58 | €396,828 | €297,336 | -€99,491 | -25.1% |
| Amounts receivable within one year | 40/41 | €187,364 | €230,019 | +€42,655 | +22.8% |
| Trade receivables | 40 | €157,184 | €176,746 | +€19,562 | +12.4% |
| Other amounts receivable | 41 | €30,180 | €53,273 | +€23,093 | +76.5% |
| Cash at bank and in hand | 54/58 | €205,599 | €12,901 | -€192,698 | -93.7% |
| Deferred charges and accrued income | 490/1 | €3,864 | €54,417 | +€50,552 | +1,308% |
| Total equity and liabilities | 10/49 | €402,884 | €330,886 | -€71,998 | -17.9% |
| Equity | 10/15 | €209,241 | €199,831 | -€9,410 | -4.5% |
| Contributions | 10/11 | €3,330 | €3,330 | = | 0.0% |
| Profit (loss) carried forward | 14 | €205,911 | €196,501 | -€9,410 | -4.6% |
| Provisions and deferred taxes | 16 | €8,823 | - | -€8,823 | |
| Provisions for liabilities and charges | 160/5 | €8,823 | - | -€8,823 | |
| Environmental obligations | 163 | €8,823 | - | -€8,823 | |
| Amounts payable | 17/49 | €184,819 | €131,055 | -€53,764 | -29.1% |
| Amounts payable after more than one year | 17 | - | €11,983 | +€11,983 | |
| Financial debts | 170/4 | - | €11,983 | +€11,983 | |
| Amounts payable within one year | 42/48 | €142,942 | €114,134 | -€28,808 | -20.2% |
| Current portion of amounts payable after more than one year | 42 | - | €9,095 | +€9,095 | |
| Financial debts | 43 | €100 | €28,000 | +€27,900 | +27,766% |
| Credit institutions | 430/8 | €100 | €28,000 | +€27,900 | +27,766% |
| Trade debts | 44 | €98,272 | €42,716 | -€55,556 | -56.5% |
| Suppliers | 440/4 | €98,272 | €42,716 | -€55,556 | -56.5% |
| Taxes, remuneration and social security | 45 | €24,619 | €15,986 | -€8,633 | -35.1% |
| Taxes | 450/3 | €22,793 | €6,626 | -€16,167 | -70.9% |
| Remuneration and social security | 454/9 | €1,826 | €9,360 | +€7,534 | +413% |
| Other amounts payable | 47/48 | €19,950 | €18,338 | -€1,613 | -8.1% |
| Accrued charges and deferred income | 492/3 | €41,877 | €4,938 | -€36,939 | -88.2% |
| Non-recurring operating income | 76A | - | €8,823 | +€8,823 | |
| Remuneration, social security and pensions | 62 | €71,901 | €58,483 | -€13,418 | -18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,042 | €7,948 | +€2,906 | +57.6% |
| Other operating charges | 640/8 | €9,055 | €5,418 | -€3,637 | -40.2% |
| Non-recurring operating charges | 66A | - | €359 | +€359 | |
| Gross operating margin | 9900 | €277,550 | €71,614 | -€205,937 | -74.2% |
| Operating profit (loss) | 9901 | €191,552 | -€594 | -€192,146 | |
| Financial income | 75/76B | €149 | €83 | -€66 | -44.1% |
| Recurring financial income | 75 | €149 | €83 | -€66 | -44.1% |
| Financial charges | 65/66B | €9,802 | €8,899 | -€903 | -9.2% |
| Recurring financial charges | 65 | €9,802 | €8,899 | -€903 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €181,899 | -€9,410 | -€191,309 | |
| Income taxes | 67/77 | €44,597 | €0 | -€44,597 | -100.0% |
| Profit (loss) for the period | 9904 | €137,301 | -€9,410 | -€146,712 | |
| Profit (loss) for the period to be appropriated | 9905 | €137,301 | -€9,410 | -€146,712 |
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 24 October 2026 via checked.be.