V.O.C.S.: 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.
V.O.C.S.
Largest movements
- Cash -€77,757
down €77,757 (-78.8%), from €98,651 to €20,894
mainly Other debts (-€114,925) and Contributions, distributions and other (-€39,106)
- Receivables within one year +€23,492
up €23,492 (+1,231%), from €1,908 to €25,401
of which Trade receivables: +€21,308
- Tangible fixed assets -€10,880
down €10,880 (-19.7%), from €55,092 to €44,212
of which Furniture and vehicles: -€11,195
- Other debts -€114,925
down €114,925 (-70.7%), from €162,548 to €47,623
- Reserves +€50,017
up €50,017 (+47.0%), from €106,429 to €156,446
- Gross operating margin -€90,984
down €90,984 (-39.5%), from €230,263 to €139,279
- Financial income -€26,250
no longer reported in 2025 (was €26,250)
- Taxes -€22,738
down €22,738 (-41.0%), from €55,442 to €32,704
- Financial charges +€2,746
up €2,746 (+273%), from €1,006 to €3,752
- Depreciation +€2,688
up €2,688 (+26.0%), from €10,327 to €13,015
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 | €302,287 | €235,693 | -€66,594 | -22.0% |
| Fixed assets | 21/28 | €192,592 | €181,712 | -€10,880 | -5.6% |
| Tangible fixed assets | 22/27 | €55,092 | €44,212 | -€10,880 | -19.7% |
| Plant, machinery and equipment | 23 | €2,334 | €3,728 | +€1,393 | +59.7% |
| Furniture and vehicles | 24 | €47,036 | €35,841 | -€11,195 | -23.8% |
| Other tangible fixed assets | 26 | €5,722 | €4,643 | -€1,079 | -18.9% |
| Financial fixed assets | 28 | €137,500 | €137,500 | = | 0.0% |
| Current assets | 29/58 | €109,694 | €53,981 | -€55,713 | -50.8% |
| Amounts receivable within one year | 40/41 | €1,908 | €25,401 | +€23,492 | +1,231% |
| Trade receivables | 40 | €1,702 | €23,010 | +€21,308 | +1,252% |
| Other amounts receivable | 41 | €207 | €2,391 | +€2,184 | +1,057% |
| Current investments | 50/53 | - | €487 | +€487 | |
| Cash at bank and in hand | 54/58 | €98,651 | €20,894 | -€77,757 | -78.8% |
| Deferred charges and accrued income | 490/1 | €9,135 | €7,200 | -€1,935 | -21.2% |
| Total equity and liabilities | 10/49 | €302,287 | €235,693 | -€66,594 | -22.0% |
| Equity | 10/15 | €125,029 | €175,046 | +€50,017 | +40.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €106,429 | €156,446 | +€50,017 | +47.0% |
| Distributable reserves | 133 | €106,429 | €156,446 | +€50,017 | +47.0% |
| Amounts payable | 17/49 | €177,258 | €60,647 | -€116,611 | -65.8% |
| Amounts payable within one year | 42/48 | €177,258 | €60,647 | -€116,611 | -65.8% |
| Trade debts | 44 | €4,379 | €1,366 | -€3,013 | -68.8% |
| Suppliers | 440/4 | €4,379 | €1,366 | -€3,013 | -68.8% |
| Taxes, remuneration and social security | 45 | €10,330 | €11,658 | +€1,327 | +12.8% |
| Taxes | 450/3 | €10,330 | €11,658 | +€1,327 | +12.8% |
| Other amounts payable | 47/48 | €162,548 | €47,623 | -€114,925 | -70.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,327 | €13,015 | +€2,688 | +26.0% |
| Other operating charges | 640/8 | €632 | €684 | +€52 | +8.3% |
| Gross operating margin | 9900 | €230,263 | €139,279 | -€90,984 | -39.5% |
| Operating profit (loss) | 9901 | €219,304 | €125,580 | -€93,724 | -42.7% |
| Financial income | 75/76B | €26,250 | - | -€26,250 | |
| Recurring financial income | 75 | €26,250 | - | -€26,250 | |
| Financial charges | 65/66B | €1,006 | €3,752 | +€2,746 | +273% |
| Recurring financial charges | 65 | €1,006 | €3,752 | +€2,746 | +273% |
| Profit (loss) for the period before taxes | 9903 | €244,548 | €121,828 | -€122,720 | -50.2% |
| Income taxes | 67/77 | €55,442 | €32,704 | -€22,738 | -41.0% |
| Profit (loss) for the period | 9904 | €189,106 | €89,124 | -€99,983 | -52.9% |
| Profit (loss) for the period to be appropriated | 9905 | €189,106 | €89,124 | -€99,983 | -52.9% |
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 23 October 2026 via checked.be.