V.O.G.: 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.G.
Largest movements
- Cash +€30,975
up €30,975 (+42.3%), from €73,266 to €104,241
mainly Net result for the year (+€59,116) and Depreciation (+€6,956)
- Receivables within one year +€23,932
up €23,932 (+258%), from €9,269 to €33,202
of which Other amounts receivable: +€23,932
- Tangible fixed assets -€5,455
down €5,455 (-49.9%), from €10,923 to €5,468
of which Furniture and vehicles: -€8,428
- Reserves +€59,116
up €59,116 (+83.1%), from €71,105 to €130,220
of which Distributable reserves: +€60,976
- Tax, wage and social debts -€4,551
down €4,551 (-53.8%), from €8,455 to €3,905
- Debts after one year -€3,005
no longer reported in 2025 (was €3,005)
- Current portion of long-term debt -€1,660
down €1,660 (-32.6%), from €5,096 to €3,436
- Gross operating margin -€20,096
down €20,096 (-17.3%), from €115,853 to €95,757
- Taxes +€10,449
up €10,449 (+56.6%), from €18,455 to €28,905
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 | €94,437 | €143,918 | +€49,481 | +52.4% |
| Fixed assets | 21/28 | €10,923 | €5,468 | -€5,455 | -49.9% |
| Tangible fixed assets | 22/27 | €10,923 | €5,468 | -€5,455 | -49.9% |
| Plant, machinery and equipment | 23 | €1,723 | €4,696 | +€2,974 | +173% |
| Furniture and vehicles | 24 | €9,200 | €771 | -€8,428 | -91.6% |
| Current assets | 29/58 | €83,515 | €138,450 | +€54,936 | +65.8% |
| Amounts receivable within one year | 40/41 | €9,269 | €33,202 | +€23,932 | +258% |
| Trade receivables | 40 | €9,269 | €9,269 | = | 0.0% |
| Other amounts receivable | 41 | - | €23,932 | +€23,932 | |
| Cash at bank and in hand | 54/58 | €73,266 | €104,241 | +€30,975 | +42.3% |
| Deferred charges and accrued income | 490/1 | €979 | €1,008 | +€29 | +2.9% |
| Total equity and liabilities | 10/49 | €94,437 | €143,918 | +€49,481 | +52.4% |
| Equity | 10/15 | €77,305 | €136,420 | +€59,116 | +76.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €71,105 | €130,220 | +€59,116 | +83.1% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €69,245 | €130,220 | +€60,976 | +88.1% |
| Amounts payable | 17/49 | €17,132 | €7,498 | -€9,635 | -56.2% |
| Amounts payable after more than one year | 17 | €3,005 | - | -€3,005 | |
| Financial debts | 170/4 | €3,005 | - | -€3,005 | |
| Amounts payable within one year | 42/48 | €14,127 | €7,498 | -€6,630 | -46.9% |
| Current portion of amounts payable after more than one year | 42 | €5,096 | €3,436 | -€1,660 | -32.6% |
| Trade debts | 44 | €177 | €157 | -€20 | -11.1% |
| Suppliers | 440/4 | €177 | €157 | -€20 | -11.1% |
| Taxes, remuneration and social security | 45 | €8,455 | €3,905 | -€4,551 | -53.8% |
| Taxes | 450/3 | €8,455 | €3,905 | -€4,551 | -53.8% |
| Other amounts payable | 47/48 | €399 | - | -€399 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,076 | €6,956 | -€120 | -1.7% |
| Other operating charges | 640/8 | €797 | €810 | +€13 | +1.6% |
| Gross operating margin | 9900 | €115,853 | €95,757 | -€20,096 | -17.3% |
| Operating profit (loss) | 9901 | €107,980 | €87,992 | -€19,988 | -18.5% |
| Financial income | 75/76B | - | €648 | +€648 | |
| Recurring financial income | 75 | - | €648 | +€648 | |
| Financial charges | 65/66B | €311 | €620 | +€309 | +99.3% |
| Recurring financial charges | 65 | €311 | €620 | +€309 | +99.3% |
| Profit (loss) for the period before taxes | 9903 | €107,669 | €88,020 | -€19,649 | -18.2% |
| Income taxes | 67/77 | €18,455 | €28,905 | +€10,449 | +56.6% |
| Profit (loss) for the period | 9904 | €89,214 | €59,116 | -€30,098 | -33.7% |
| Profit (loss) for the period to be appropriated | 9905 | €89,214 | €59,116 | -€30,098 | -33.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.