VOCAL: 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.
VOCAL
Largest movements
- Tangible fixed assets +€14,777
up €14,777 (+6.8%), from €218,745 to €233,522
of which Furniture and vehicles: +€25,267
- Cash -€10,770
down €10,770 (-10.1%), from €106,511 to €95,741
mainly Investment in fixed assets (net) (-€30,817) and Other debts (-€12,524)
- Other debts -€12,524
down €12,524 (-4.0%), from €309,791 to €297,267
- Profit (loss) carried forward +€11,522
up €11,522, from -€10,286 to €1,236
- Gross operating margin +€19,121
up €19,121 (+114%), from €16,810 to €35,931
- Financial charges +€3,189
up €3,189 (+2,398%), from €133 to €3,322
- Taxes +€1,674
up €1,674 (+1,087%), from €154 to €1,828
- Other operating charges +€1,010
up €1,010 (+34.0%), from €2,974 to €3,984
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 | €416,738 | €417,637 | +€899 | +0.2% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €219,029 | €233,522 | +€14,493 | +6.6% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €218,745 | €233,522 | +€14,777 | +6.8% |
| Land and buildings | 22 | €213,332 | €199,988 | -€13,344 | -6.3% |
| Plant, machinery and equipment | 23 | €4,501 | €7,355 | +€2,854 | +63.4% |
| Furniture and vehicles | 24 | €912 | €26,179 | +€25,267 | +2,771% |
| Financial fixed assets | 28 | €284 | - | -€284 | |
| Current assets | 29/58 | €197,709 | €184,115 | -€13,594 | -6.9% |
| Amounts receivable within one year | 40/41 | €9,086 | €8,143 | -€943 | -10.4% |
| Trade receivables | 40 | €8,624 | €8,143 | -€481 | -5.6% |
| Other amounts receivable | 41 | €462 | - | -€462 | |
| Current investments | 50/53 | €76,846 | €78,076 | +€1,230 | +1.6% |
| Cash at bank and in hand | 54/58 | €106,511 | €95,741 | -€10,770 | -10.1% |
| Deferred charges and accrued income | 490/1 | €5,266 | €2,155 | -€3,111 | -59.1% |
| Total equity and liabilities | 10/49 | €416,738 | €417,637 | +€899 | +0.2% |
| Equity | 10/15 | €98,878 | €110,400 | +€11,522 | +11.7% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €90,414 | €90,414 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,608 | €2,608 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,608 | €2,608 | = | 0.0% |
| Tax-exempt reserves | 132 | €32,750 | €32,750 | = | 0.0% |
| Distributable reserves | 133 | €55,056 | €55,056 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,286 | €1,236 | +€11,522 | |
| Amounts payable | 17/49 | €317,860 | €307,237 | -€10,623 | -3.3% |
| Amounts payable within one year | 42/48 | €317,860 | €305,100 | -€12,760 | -4.0% |
| Trade debts | 44 | €6,186 | €2,526 | -€3,660 | -59.2% |
| Suppliers | 440/4 | €6,186 | €2,526 | -€3,660 | -59.2% |
| Taxes, remuneration and social security | 45 | €1,883 | €5,307 | +€3,424 | +182% |
| Taxes | 450/3 | €1,883 | €5,307 | +€3,424 | +182% |
| Other amounts payable | 47/48 | €309,791 | €297,267 | -€12,524 | -4.0% |
| Accrued charges and deferred income | 492/3 | - | €2,137 | +€2,137 | |
| Non-recurring operating income | 76A | - | €15,838 | +€15,838 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,377 | €16,324 | -€53 | -0.3% |
| Other operating charges | 640/8 | €2,974 | €3,984 | +€1,010 | +34.0% |
| Gross operating margin | 9900 | €16,810 | €35,931 | +€19,121 | +114% |
| Operating profit (loss) | 9901 | -€2,541 | €15,623 | +€18,164 | |
| Financial income | 75/76B | €1,838 | €1,882 | +€44 | +2.4% |
| Recurring financial income | 75 | €1,838 | €1,882 | +€44 | +2.4% |
| Financial charges | 65/66B | €133 | €3,322 | +€3,189 | +2,398% |
| Recurring financial charges | 65 | €133 | €3,322 | +€3,189 | +2,398% |
| Profit (loss) for the period before taxes | 9903 | -€836 | €14,183 | +€15,019 | |
| Income taxes | 67/77 | €154 | €1,828 | +€1,674 | +1,087% |
| Profit (loss) for the period | 9904 | -€990 | €12,355 | +€13,345 | |
| Profit (loss) for the period to be appropriated | 9905 | -€990 | €12,355 | +€13,345 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.