VO COMMUNICATION: 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.
What changed
VO COMMUNICATION
NACE 82.300, Organisation of conventions and trade shows
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€872,911
2024 · €51,931-€924,842
Equity
€1.8m
2024 · €2.7m-€916,712
Cash
€576,989
2024 · €383,687+€193,302
Balance sheet total
€5.4m
2024 · €9.4m-€4.1m
Largest movements
Assets
- Receivables within one year -€4.8m
down €4.8m (-59.6%), from €8.1m to €3.3m
of which Other amounts receivable: -€2.6m
- Financial fixed assets +€773,725
up €773,725 (+9238.5%), from €8,375 to €782,100
of which Affiliated companies: +€782,100
- Cash +€193,302
up €193,302 (+50.4%), from €383,687 to €576,989
mainly Receivables within one year (+€4.8m) and Debts after one year (+€327,528)
- Stocks and contracts -€172,983
down €172,983 (-41.2%), from €419,387 to €246,404
Equity and liabilities
- Other debts -€1.8m
down €1.8m (-81.2%), from €2.3m to €424,920
- Profit (loss) carried forward -€1.2m
down €1.2m, from €993,411 to -€241,546
- Trade debts -€924,968
down €924,968 (-43.6%), from €2.1m to €1.2m
- Short-term financial debts -€573,423
down €573,423 (-38.3%), from €1.5m to €925,109
- Debts after one year +€327,528
new in 2025: €327,528
Income statement
- Turnover -€3.7m
down €3.7m (-32.4%), from €11.4m to €7.7m
- Goods and materials -€2.4m
down €2.4m (-31.1%), from €7.9m to €5.4m
- Services and other goods -€294,978
down €294,978 (-12.7%), from €2.3m to €2.0m
- Staff costs +€162,852
up €162,852 (+14.9%), from €1.1m to €1.3m
- Financial income +€131,441
up €131,441 (+531.7%), from €24,719 to €156,160
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.
Result 2024
€51,931
Turnover
-€3.7m
Other operating income
+€38,917
Goods and materials
+€2.4m
Services and other goods
+€294,978
Staff costs
-€162,852
Depreciation
-€3,815
Write-downs
-€4,500
Other operating charges
-€540
Other operating items
-€41,540
Financial income
+€131,441
Financial charges
+€11,088
Taxes
+€62,614
Deferred taxes and other
-€1
Result 2025
-€872,911
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.
From operations
+€1.2m
Investment
-€773,725
Financing
-€194,140
Cash 2024
€383,687
From operations (derived)
+€1.2m
Net result for the year
-€872,911
Depreciation
+€6,698
Stocks and contracts
+€172,983
Receivables within one year
+€4.8m
Smaller working-capital items
+€9,017
Trade debts
-€924,968
Tax, wage and social debts
-€26,556
Advances received
-€197,331
Other debts
-€1.8m
Investment (derived)
-€773,725
Investment in fixed assets (net)
-€773,725
Financing
-€194,140
Debts after one year
+€327,528
Current portion of long-term debt
+€95,554
Short-term financial debts
-€573,423
Contributions, distributions and other
-€43,800
Not broken down
-€3
Cash 2025
€576,989
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,416,846 | €5,357,873 | -€4.1m | -43.1% |
| Fixed assets | 21/28 | €36,031 | €803,058 | +€767,027 | +2128.8% |
| Intangible fixed assets | 21 | €24,772 | €18,461 | -€6,311 | -25.5% |
| Tangible fixed assets | 22/27 | €2,884 | €2,497 | -€387 | -13.4% |
| Furniture and vehicles | 24 | €2,884 | €2,497 | -€387 | -13.4% |
| Financial fixed assets | 28 | €8,375 | €782,100 | +€773,725 | +9238.5% |
| Affiliated companies | 280/1 | - | €782,100 | +€782,100 | |
| Participating interests | 280 | - | €782,100 | +€782,100 | |
| Other financial fixed assets | 284/8 | €8,375 | €0 | -€8,375 | -100.0% |
| Amounts receivable and cash guarantees | 285/8 | €8,375 | €0 | -€8,375 | -100.0% |
| Current assets | 29/58 | €9,380,815 | €4,554,815 | -€4.8m | -51.4% |
| Stocks and contracts in progress | 3 | €419,387 | €246,404 | -€172,983 | -41.2% |
| Contracts in progress | 37 | €419,387 | €246,404 | -€172,983 | -41.2% |
| Amounts receivable within one year | 40/41 | €8,115,332 | €3,280,475 | -€4.8m | -59.6% |
| Trade receivables | 40 | €4,810,825 | €2,607,891 | -€2.2m | -45.8% |
| Other amounts receivable | 41 | €3,304,507 | €672,584 | -€2.6m | -79.6% |
| Current investments | 50/53 | €430,000 | €430,000 | = | 0.0% |
| Own shares | 50 | €430,000 | €430,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €383,687 | €576,989 | +€193,302 | +50.4% |
| Deferred charges and accrued income | 490/1 | €32,409 | €20,946 | -€11,463 | -35.4% |
| Total equity and liabilities | 10/49 | €9,416,846 | €5,357,873 | -€4.1m | -43.1% |
| Equity | 10/15 | €2,680,501 | €1,763,789 | -€916,712 | -34.2% |
| Contributions | 10/11 | €75,000 | €373,992 | +€298,992 | +398.7% |
| Capital | 10 | €75,000 | €373,992 | +€298,992 | +398.7% |
| Issued capital | 100 | €75,000 | €373,992 | +€298,992 | +398.7% |
| Reserves | 13 | €1,612,090 | €1,631,344 | +€19,254 | +1.2% |
| Non-distributable reserves | 130/1 | €437,500 | €456,754 | +€19,254 | +4.4% |
| Legal reserve | 130 | €7,500 | €26,754 | +€19,254 | +256.7% |
| Own shares acquired | 1312 | €430,000 | €430,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,048,290 | €0 | -€1.0m | -100.0% |
| Distributable reserves | 133 | €126,300 | €1,174,590 | +€1.0m | +830.0% |
| Profit (loss) carried forward | 14 | €993,411 | -€241,546 | -€1.2m | |
| Amounts payable | 17/49 | €6,736,345 | €3,594,084 | -€3.1m | -46.6% |
| Amounts payable after more than one year | 17 | - | €327,528 | +€327,528 | |
| Financial debts | 170/4 | - | €327,528 | +€327,528 | |
| Credit institutions | 173 | - | €327,528 | +€327,528 | |
| Amounts payable within one year | 42/48 | €6,727,722 | €3,260,379 | -€3.5m | -51.5% |
| Current portion of amounts payable after more than one year | 42 | - | €95,554 | +€95,554 | |
| Financial debts | 43 | €1,498,532 | €925,109 | -€573,423 | -38.3% |
| Credit institutions | 430/8 | €1,498,532 | €925,109 | -€573,423 | -38.3% |
| Trade debts | 44 | €2,119,255 | €1,194,287 | -€924,968 | -43.6% |
| Suppliers | 440/4 | €2,119,255 | €1,194,287 | -€924,968 | -43.6% |
| Advances received on contracts in progress | 46 | €697,151 | €499,820 | -€197,331 | -28.3% |
| Taxes, remuneration and social security | 45 | €147,246 | €120,690 | -€26,556 | -18.0% |
| Taxes | 450/3 | €0 | €1,429 | +€1,429 | |
| Remuneration and social security | 454/9 | €147,246 | €119,261 | -€27,985 | -19.0% |
| Other amounts payable | 47/48 | €2,265,539 | €424,920 | -€1.8m | -81.2% |
| Accrued charges and deferred income | 492/3 | €8,623 | €6,177 | -€2,446 | -28.4% |
| Operating income | 70/76A | €11,542,063 | €7,869,363 | -€3.7m | -31.8% |
| Turnover | 70 | €11,429,110 | €7,731,318 | -€3.7m | -32.4% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €0 | - | = | |
| Other operating income | 74 | €96,993 | €135,910 | +€38,917 | +40.1% |
| Non-recurring operating income | 76A | €15,960 | €2,134 | -€13,826 | -86.6% |
| Operating charges | 60/66A | €11,376,232 | €8,833,514 | -€2.5m | -22.4% |
| Goods for resale, raw materials and consumables | 60 | €7,859,187 | €5,412,028 | -€2.4m | -31.1% |
| Purchases | 600/8 | €7,859,187 | €5,412,028 | -€2.4m | -31.1% |
| Services and other goods | 61 | €2,322,940 | €2,027,962 | -€294,978 | -12.7% |
| Remuneration, social security and pensions | 62 | €1,091,106 | €1,253,958 | +€162,852 | +14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,883 | €6,698 | +€3,815 | +132.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,500 | €0 | +€4,500 | |
| Other operating charges | 640/8 | €93,898 | €94,437 | +€540 | +0.6% |
| Non-recurring operating charges | 66A | €10,718 | €38,432 | +€27,714 | +258.6% |
| Operating profit (loss) | 9901 | €165,832 | -€964,152 | -€1.1m | |
| Financial income | 75/76B | €24,719 | €156,160 | +€131,441 | +531.7% |
| Recurring financial income | 75 | €24,719 | €156,160 | +€131,441 | +531.7% |
| Income from financial fixed assets | 750 | - | €150,000 | +€150,000 | |
| Income from current assets | 751 | €12,922 | €6,159 | -€6,763 | -52.3% |
| Other financial income | 752/9 | €11,797 | €0 | -€11,797 | -100.0% |
| Financial charges | 65/66B | €70,100 | €59,012 | -€11,088 | -15.8% |
| Recurring financial charges | 65 | €70,100 | €59,012 | -€11,088 | -15.8% |
| Debt charges | 650 | €67,497 | €56,683 | -€10,814 | -16.0% |
| Other financial charges | 652/9 | €2,603 | €2,329 | -€274 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €120,451 | -€867,004 | -€987,455 | |
| Income taxes | 67/77 | €68,520 | €5,906 | -€62,614 | -91.4% |
| Taxes | 670/3 | €68,520 | €13,033 | -€55,487 | -81.0% |
| Tax adjustments and reversals of tax provisions | 77 | - | €7,127 | +€7,127 | |
| Profit (loss) for the period | 9904 | €51,931 | -€872,911 | -€924,842 | |
| Transfer from tax-exempt reserves | 789 | €0 | €1,048,290 | +€1.0m | |
| Profit (loss) for the period to be appropriated | 9905 | €51,931 | €175,379 | +€123,448 | +237.7% |
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 8 October 2026 via checked.be.