VOCHTGUARD: what changed
What changed
VOCHTGUARD
NACE 43.421, Specialised construction activities
filed annual accounts (NBB)
Net result for the year
€48,568
2024 · €25,330+€23,238
Equity
€85,857
2024 · €67,289+€18,568
Cash
€43,559
2024 · €6,447+€37,112
Balance sheet total
€162,490
2024 · €113,756+€48,733
Largest movements
Assets
- Cash +€37,112
up €37,112 (+576%), from €6,447 to €43,559
mainly Net result for the year (+€48,568) and Other debts (+€30,173)
- Receivables within one year +€19,744
up €19,744 (+50.6%), from €39,016 to €58,760
of which Other amounts receivable: +€15,045
- Stocks and contracts -€5,988
down €5,988 (-50.7%), from €11,800 to €5,812
- Deferred charges and accrued income -€3,525
down €3,525 (-34.5%), from €10,214 to €6,689
Equity and liabilities
- Other debts +€30,173
new in 2025: €30,173
- Reserves +€18,568
up €18,568 (+28.7%), from €64,789 to €83,357
- Debts after one year -€8,169
down €8,169 (-28.9%), from €28,232 to €20,063
- Trade debts +€6,908
up €6,908 (+84.7%), from €8,155 to €15,064
Income statement
- Gross operating margin +€26,275
up €26,275 (+48.2%), from €54,498 to €80,772
- Taxes +€11,331
up €11,331 (+204%), from €5,554 to €16,885
- Staff costs -€10,652
down €10,652, from €9,444 to -€1,209
- Depreciation +€2,907
up €2,907 (+34.1%), from €8,533 to €11,440
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€25,330
Gross operating margin
+€26,275
Staff costs
+€10,652
Depreciation
-€2,907
Other operating charges
-€293
Financial income
+€392
Financial charges
+€450
Taxes
-€11,331
Result 2025
€48,568
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€87,468
Investment
-€12,830
Financing
-€37,526
Cash 2024
€6,447
From operations (derived)
+€87,468
Net result for the year
+€48,568
Depreciation
+€11,440
Stocks and contracts
+€5,988
Receivables within one year
-€19,744
Deferred charges and accrued income
+€3,525
Trade debts
+€6,908
Tax, wage and social debts
+€610
Other debts
+€30,173
Investment (derived)
-€12,830
Investment in fixed assets (net)
-€12,830
Financing
-€37,526
Debts after one year
-€8,169
Current portion of long-term debt
+€643
Contributions, distributions and other
-€30,000
Cash 2025
€43,559
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €113,756 | €162,490 | +€48,733 | +42.8% |
| Fixed assets | 21/28 | €46,280 | €47,669 | +€1,389 | +3.0% |
| Tangible fixed assets | 22/27 | €44,720 | €46,109 | +€1,389 | +3.1% |
| Land and buildings | 22 | - | €3,077 | +€3,077 | |
| Plant, machinery and equipment | 23 | €7,207 | €14,521 | +€7,314 | +101% |
| Furniture and vehicles | 24 | €37,512 | €28,511 | -€9,001 | -24.0% |
| Financial fixed assets | 28 | €1,560 | €1,560 | = | 0.0% |
| Current assets | 29/58 | €67,477 | €114,821 | +€47,344 | +70.2% |
| Stocks and contracts in progress | 3 | €11,800 | €5,812 | -€5,988 | -50.7% |
| Stocks | 30/36 | €11,800 | €5,812 | -€5,988 | -50.7% |
| Amounts receivable within one year | 40/41 | €39,016 | €58,760 | +€19,744 | +50.6% |
| Trade receivables | 40 | €18,387 | €23,086 | +€4,699 | +25.6% |
| Other amounts receivable | 41 | €20,629 | €35,674 | +€15,045 | +72.9% |
| Cash at bank and in hand | 54/58 | €6,447 | €43,559 | +€37,112 | +576% |
| Deferred charges and accrued income | 490/1 | €10,214 | €6,689 | -€3,525 | -34.5% |
| Total equity and liabilities | 10/49 | €113,756 | €162,490 | +€48,733 | +42.8% |
| Equity | 10/15 | €67,289 | €85,857 | +€18,568 | +27.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €64,789 | €83,357 | +€18,568 | +28.7% |
| Distributable reserves | 133 | €64,789 | €83,357 | +€18,568 | +28.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €46,468 | €76,633 | +€30,165 | +64.9% |
| Amounts payable after more than one year | 17 | €28,232 | €20,063 | -€8,169 | -28.9% |
| Financial debts | 170/4 | €28,232 | €20,063 | -€8,169 | -28.9% |
| Amounts payable within one year | 42/48 | €18,235 | €56,570 | +€38,335 | +210% |
| Current portion of amounts payable after more than one year | 42 | €7,526 | €8,169 | +€643 | +8.5% |
| Trade debts | 44 | €8,155 | €15,064 | +€6,908 | +84.7% |
| Suppliers | 440/4 | €8,155 | €15,064 | +€6,908 | +84.7% |
| Taxes, remuneration and social security | 45 | €2,554 | €3,164 | +€610 | +23.9% |
| Taxes | 450/3 | €2,554 | €3,164 | +€610 | +23.9% |
| Other amounts payable | 47/48 | - | €30,173 | +€30,173 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €2,471 | €0 | -€2,471 | -100% |
| Remuneration, social security and pensions | 62 | €9,444 | -€1,209 | -€10,652 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,533 | €11,440 | +€2,907 | +34.1% |
| Other operating charges | 640/8 | €761 | €1,054 | +€293 | +38.4% |
| Gross operating margin | 9900 | €54,498 | €80,772 | +€26,275 | +48.2% |
| Operating profit (loss) | 9901 | €35,759 | €69,487 | +€33,727 | +94.3% |
| Financial income | 75/76B | €742 | €1,134 | +€392 | +52.8% |
| Recurring financial income | 75 | €742 | €1,134 | +€392 | +52.8% |
| Financial charges | 65/66B | €5,618 | €5,168 | -€450 | -8.0% |
| Recurring financial charges | 65 | €5,618 | €5,168 | -€450 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €30,884 | €65,453 | +€34,569 | +112% |
| Income taxes | 67/77 | €5,554 | €16,885 | +€11,331 | +204% |
| Profit (loss) for the period | 9904 | €25,330 | €48,568 | +€23,238 | +91.7% |
| Profit (loss) for the period to be appropriated | 9905 | €25,330 | €48,568 | +€23,238 | +91.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.