VOBELFI: 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.
VOBELFI
Largest movements
- Tangible fixed assets -€150,676
down €150,676 (-10.9%), from €1.4m to €1.2m
of which Land and buildings: -€79,256
- Other debts -€177,189
down €177,189 (-13.7%), from €1.3m to €1.1m
- Trade debts +€54,365
up €54,365 (+29.9%), from €181,615 to €235,980
- Profit (loss) carried forward -€38,099
down €38,099 (-23.9%), from -€159,459 to -€197,558
- Staff costs +€62,199
up €62,199 (+26.8%), from €231,819 to €294,018
- Gross operating margin +€28,799
up €28,799 (+6.8%), from €425,856 to €454,656
- Financial charges -€25,982
down €25,982 (-39.6%), from €65,645 to €39,663
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 | €1,453,132 | €1,304,076 | -€149,056 | -10.3% |
| Fixed assets | 21/28 | €1,382,745 | €1,232,068 | -€150,676 | -10.9% |
| Tangible fixed assets | 22/27 | €1,382,745 | €1,232,068 | -€150,676 | -10.9% |
| Land and buildings | 22 | €658,917 | €579,661 | -€79,256 | -12.0% |
| Plant, machinery and equipment | 23 | €146,376 | €88,878 | -€57,498 | -39.3% |
| Furniture and vehicles | 24 | €2,836 | €1,449 | -€1,387 | -48.9% |
| Other tangible fixed assets | 26 | €574,616 | €562,081 | -€12,536 | -2.2% |
| Current assets | 29/58 | €70,387 | €72,008 | +€1,620 | +2.3% |
| Stocks and contracts in progress | 3 | €47,479 | €41,067 | -€6,412 | -13.5% |
| Stocks | 30/36 | €47,479 | €41,067 | -€6,412 | -13.5% |
| Amounts receivable within one year | 40/41 | €356 | €1,606 | +€1,250 | +351% |
| Trade receivables | 40 | €328 | €1,530 | +€1,202 | +366% |
| Other amounts receivable | 41 | €28 | €75 | +€47 | +170% |
| Cash at bank and in hand | 54/58 | €22,553 | €29,335 | +€6,783 | +30.1% |
| Total equity and liabilities | 10/49 | €1,453,132 | €1,304,076 | -€149,056 | -10.3% |
| Equity | 10/15 | -€91,259 | -€129,358 | -€38,099 | -41.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€159,459 | -€197,558 | -€38,099 | -23.9% |
| Amounts payable | 17/49 | €1,544,391 | €1,433,434 | -€110,957 | -7.2% |
| Amounts payable within one year | 42/48 | €1,544,391 | €1,433,434 | -€110,957 | -7.2% |
| Trade debts | 44 | €181,615 | €235,980 | +€54,365 | +29.9% |
| Suppliers | 440/4 | €181,615 | €235,980 | +€54,365 | +29.9% |
| Taxes, remuneration and social security | 45 | €69,209 | €81,076 | +€11,867 | +17.1% |
| Taxes | 450/3 | €26,406 | €29,986 | +€3,580 | +13.6% |
| Remuneration and social security | 454/9 | €42,803 | €51,090 | +€8,287 | +19.4% |
| Other amounts payable | 47/48 | €1,293,567 | €1,116,378 | -€177,189 | -13.7% |
| Non-recurring operating income | 76A | - | €4,500 | +€4,500 | |
| Remuneration, social security and pensions | 62 | €231,819 | €294,018 | +€62,199 | +26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €154,416 | €154,594 | +€178 | +0.1% |
| Other operating charges | 640/8 | €2,289 | €4,155 | +€1,866 | +81.5% |
| Gross operating margin | 9900 | €425,856 | €454,656 | +€28,799 | +6.8% |
| Operating profit (loss) | 9901 | €37,333 | €1,889 | -€35,444 | -94.9% |
| Financial income | 75/76B | €8 | - | -€8 | |
| Recurring financial income | 75 | €8 | - | -€8 | |
| Financial charges | 65/66B | €65,645 | €39,663 | -€25,982 | -39.6% |
| Recurring financial charges | 65 | €65,645 | €39,663 | -€25,982 | -39.6% |
| Profit (loss) for the period before taxes | 9903 | -€28,304 | -€37,774 | -€9,470 | -33.5% |
| Income taxes | 67/77 | €372 | €325 | -€47 | -12.7% |
| Profit (loss) for the period | 9904 | -€28,676 | -€38,099 | -€9,423 | -32.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,676 | -€38,099 | -€9,423 | -32.9% |
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 17 October 2026 via checked.be.