VOA CONCEPT: 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.
VOA CONCEPT
Largest movements
- Receivables within one year +€17,916
up €17,916 (+79.8%), from €22,454 to €40,370
of which Trade receivables: +€16,160
- Tangible fixed assets -€3,755
down €3,755 (-11.0%), from €33,990 to €30,235
of which Furniture and vehicles: -€5,867
- Cash +€2,591
up €2,591 (+1,774%), from €146 to €2,737
mainly Net result for the year (+€11,634) and Depreciation (+€7,720)
- Profit (loss) carried forward +€11,634
up €11,634 (+136%), from €8,529 to €20,163
- Debts after one year -€8,781
down €8,781 (-25.0%), from €35,063 to €26,282
- Trade debts +€5,405
up €5,405 (+204%), from €2,653 to €8,057
- Other debts +€4,726
up €4,726 (+2,178%), from €217 to €4,943
- Tax, wage and social debts +€4,426
up €4,426 (+422%), from €1,050 to €5,476
- Gross operating margin +€15,520
up €15,520 (+144%), from €10,783 to €26,303
- Depreciation +€5,982
up €5,982 (+344%), from €1,738 to €7,720
- Taxes +€3,115
new in 2025: €3,115
- Financial charges +€3,027
up €3,027 (+822%), from €368 to €3,396
- Other operating charges +€290
up €290 (+195%), from €149 to €439
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 | €56,590 | €73,703 | +€17,112 | +30.2% |
| Fixed assets | 21/28 | €33,990 | €30,235 | -€3,755 | -11.0% |
| Tangible fixed assets | 22/27 | €33,990 | €30,235 | -€3,755 | -11.0% |
| Plant, machinery and equipment | 23 | - | €2,112 | +€2,112 | |
| Furniture and vehicles | 24 | €33,990 | €28,123 | -€5,867 | -17.3% |
| Current assets | 29/58 | €22,600 | €43,467 | +€20,867 | +92.3% |
| Amounts receivable within one year | 40/41 | €22,454 | €40,370 | +€17,916 | +79.8% |
| Trade receivables | 40 | €20,917 | €37,078 | +€16,160 | +77.3% |
| Other amounts receivable | 41 | €1,537 | €3,292 | +€1,755 | +114% |
| Cash at bank and in hand | 54/58 | €146 | €2,737 | +€2,591 | +1,774% |
| Deferred charges and accrued income | 490/1 | - | €361 | +€361 | |
| Total equity and liabilities | 10/49 | €56,590 | €73,703 | +€17,112 | +30.2% |
| Equity | 10/15 | €8,529 | €20,163 | +€11,634 | +136% |
| Profit (loss) carried forward | 14 | €8,529 | €20,163 | +€11,634 | +136% |
| Amounts payable | 17/49 | €48,062 | €53,540 | +€5,478 | +11.4% |
| Amounts payable after more than one year | 17 | €35,063 | €26,282 | -€8,781 | -25.0% |
| Financial debts | 170/4 | €35,063 | €26,282 | -€8,781 | -25.0% |
| Amounts payable within one year | 42/48 | €12,998 | €27,258 | +€14,260 | +110% |
| Current portion of amounts payable after more than one year | 42 | €9,079 | €8,781 | -€297 | -3.3% |
| Trade debts | 44 | €2,653 | €8,057 | +€5,405 | +204% |
| Suppliers | 440/4 | €2,653 | €8,057 | +€5,405 | +204% |
| Taxes, remuneration and social security | 45 | €1,050 | €5,476 | +€4,426 | +422% |
| Taxes | 450/3 | €1,050 | €5,476 | +€4,426 | +422% |
| Other amounts payable | 47/48 | €217 | €4,943 | +€4,726 | +2,178% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,738 | €7,720 | +€5,982 | +344% |
| Other operating charges | 640/8 | €149 | €439 | +€290 | +195% |
| Gross operating margin | 9900 | €10,783 | €26,303 | +€15,520 | +144% |
| Operating profit (loss) | 9901 | €8,897 | €18,144 | +€9,247 | +104% |
| Financial charges | 65/66B | €368 | €3,396 | +€3,027 | +822% |
| Recurring financial charges | 65 | €368 | €3,396 | +€3,027 | +822% |
| Profit (loss) for the period before taxes | 9903 | €8,529 | €14,749 | +€6,220 | +72.9% |
| Income taxes | 67/77 | - | €3,115 | +€3,115 | |
| Profit (loss) for the period | 9904 | €8,529 | €11,634 | +€3,105 | +36.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,529 | €11,634 | +€3,105 | +36.4% |
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 17 October 2026 via checked.be.