VOCATIO: 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.
VOCATIO
Largest movements
- Current investments +€50,319
up €50,319 (+33.4%), from €150,734 to €201,052
- Cash +€33,960
up €33,960 (+49.1%), from €69,152 to €103,113
mainly Net result for the year (+€72,280) and Depreciation (+€12,303)
- Tangible fixed assets -€12,303
down €12,303 (-76.7%), from €16,041 to €3,738
- Deferred charges and accrued income -€3,592
down €3,592 (-14.9%), from €24,040 to €20,448
- Reserves +€72,280
up €72,280 (+32.7%), from €220,901 to €293,180
- Current portion of long-term debt -€6,728
down €6,728 (-66.3%), from €10,141 to €3,414
- Tax, wage and social debts +€4,296
up €4,296 (+52.3%), from €8,220 to €12,515
- Debts after one year -€3,414
down €3,414 (-100%), from €3,414 to €0
- Gross operating margin +€18,254
up €18,254 (+19.3%), from €94,783 to €113,038
- Taxes +€5,344
up €5,344 (+22.9%), from €23,342 to €28,686
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 | €260,994 | €332,316 | +€71,323 | +27.3% |
| Fixed assets | 21/28 | €16,041 | €3,738 | -€12,303 | -76.7% |
| Tangible fixed assets | 22/27 | €16,041 | €3,738 | -€12,303 | -76.7% |
| Furniture and vehicles | 24 | €16,041 | €3,738 | -€12,303 | -76.7% |
| Current assets | 29/58 | €244,953 | €328,578 | +€83,625 | +34.1% |
| Amounts receivable within one year | 40/41 | €1,026 | €3,965 | +€2,939 | +286% |
| Trade receivables | 40 | - | €3,965 | +€3,965 | |
| Other amounts receivable | 41 | €1,026 | €0 | -€1,026 | -100% |
| Current investments | 50/53 | €150,734 | €201,052 | +€50,319 | +33.4% |
| Cash at bank and in hand | 54/58 | €69,152 | €103,113 | +€33,960 | +49.1% |
| Deferred charges and accrued income | 490/1 | €24,040 | €20,448 | -€3,592 | -14.9% |
| Total equity and liabilities | 10/49 | €260,994 | €332,316 | +€71,323 | +27.3% |
| Equity | 10/15 | €223,401 | €295,680 | +€72,280 | +32.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €220,901 | €293,180 | +€72,280 | +32.7% |
| Distributable reserves | 133 | €220,901 | €293,180 | +€72,280 | +32.7% |
| Amounts payable | 17/49 | €37,593 | €36,636 | -€957 | -2.5% |
| Amounts payable after more than one year | 17 | €3,414 | €0 | -€3,414 | -100% |
| Financial debts | 170/4 | €3,414 | €0 | -€3,414 | -100% |
| Amounts payable within one year | 42/48 | €33,762 | €33,219 | -€543 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €10,141 | €3,414 | -€6,728 | -66.3% |
| Trade debts | 44 | €1,369 | €84 | -€1,284 | -93.8% |
| Suppliers | 440/4 | €1,369 | €84 | -€1,284 | -93.8% |
| Taxes, remuneration and social security | 45 | €8,220 | €12,515 | +€4,296 | +52.3% |
| Taxes | 450/3 | €8,220 | €12,515 | +€4,296 | +52.3% |
| Other amounts payable | 47/48 | €14,033 | €17,206 | +€3,173 | +22.6% |
| Accrued charges and deferred income | 492/3 | €417 | €3,417 | +€3,000 | +720% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,074 | €12,303 | +€229 | +1.9% |
| Other operating charges | 640/8 | €1,007 | €558 | -€449 | -44.6% |
| Gross operating margin | 9900 | €94,783 | €113,038 | +€18,254 | +19.3% |
| Operating profit (loss) | 9901 | €81,702 | €100,177 | +€18,475 | +22.6% |
| Financial income | 75/76B | €1,519 | €1,412 | -€107 | -7.1% |
| Recurring financial income | 75 | €1,519 | €1,412 | -€107 | -7.1% |
| Financial charges | 65/66B | €758 | €624 | -€134 | -17.7% |
| Recurring financial charges | 65 | €758 | €624 | -€134 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €82,463 | €100,965 | +€18,502 | +22.4% |
| Income taxes | 67/77 | €23,342 | €28,686 | +€5,344 | +22.9% |
| Profit (loss) for the period | 9904 | €59,122 | €72,280 | +€13,158 | +22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €59,122 | €72,280 | +€13,158 | +22.3% |
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 18 October 2026 via checked.be.