VOCON: what changed
What changed
VOCON
NACE 43.211, General electrical installation work
filed annual accounts (NBB)
Net result for the year
€48,536
2024 · €53,092-€4,556
Equity
€343,683
2024 · €466,332-€122,649
Cash
€60,037
2024 · €55,702+€4,335
Balance sheet total
€2.7m
2024 · €3.0m-€326,180
Largest movements
Assets
- Stocks and contracts -€573,417
down €573,417 (-28.8%), from €2.0m to €1.4m
- Receivables within one year +€339,090
up €339,090 (+1,131%), from €29,988 to €369,078
of which Trade receivables: +€341,599
- Tangible fixed assets -€107,408
down €107,408 (-12.9%), from €833,488 to €726,080
Equity and liabilities
- Debts after one year -€369,487
down €369,487 (-19.4%), from €1.9m to €1.5m
- Other debts +€290,145
up €290,145 (+87.2%), from €332,551 to €622,696
- Reserves -€122,649
down €122,649 (-27.0%), from €453,932 to €331,283
- Accrued charges and deferred income -€99,750
down €99,750 (-99.8%), from €100,000 to €250
- Trade debts -€62,178
no longer reported in 2025 (was €62,178)
Income statement
- Gross operating margin +€75,368
up €75,368 (+40.2%), from €187,610 to €262,978
- Financial charges +€47,664
up €47,664 (+194%), from €24,529 to €72,193
- Financial income -€17,820
down €17,820 (-93.5%), from €19,052 to €1,232
- Depreciation +€13,912
up €13,912 (+14.6%), from €95,086 to €108,998
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
€53,092
Gross operating margin
+€75,368
Depreciation
-€13,912
Other operating charges
-€206
Financial income
-€17,820
Financial charges
-€47,664
Taxes
-€322
Result 2025
€48,536
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
+€519,484
Investment
-€12,811
Financing
-€502,337
Cash 2024
€55,702
From operations (derived)
+€519,484
Net result for the year
+€48,536
Depreciation
+€108,998
Stocks and contracts
+€573,417
Receivables within one year
-€339,090
Trade debts
-€62,178
Tax, wage and social debts
-€596
Other debts
+€290,145
Accrued charges and deferred income
-€99,750
Investment (derived)
-€12,811
Investment in fixed assets (net)
-€248
Current investments
-€12,564
Financing
-€502,337
Debts after one year
-€369,487
Current portion of long-term debt
+€38,336
Contributions, distributions and other
-€171,186
Cash 2025
€60,037
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,984,410 | €2,658,230 | -€326,180 | -10.9% |
| Fixed assets | 21/28 | €838,003 | €729,253 | -€108,751 | -13.0% |
| Tangible fixed assets | 22/27 | €833,488 | €726,080 | -€107,408 | -12.9% |
| Land and buildings | 22 | €565,607 | €529,552 | -€36,055 | -6.4% |
| Plant, machinery and equipment | 23 | €15,988 | €8,675 | -€7,313 | -45.7% |
| Furniture and vehicles | 24 | €199,329 | €146,020 | -€53,310 | -26.7% |
| Other tangible fixed assets | 26 | €52,564 | €41,833 | -€10,731 | -20.4% |
| Financial fixed assets | 28 | €4,515 | €3,173 | -€1,343 | -29.7% |
| Current assets | 29/58 | €2,146,406 | €1,928,978 | -€217,429 | -10.1% |
| Stocks and contracts in progress | 3 | €1,991,570 | €1,418,153 | -€573,417 | -28.8% |
| Stocks | 30/36 | €1,991,570 | €1,418,153 | -€573,417 | -28.8% |
| Amounts receivable within one year | 40/41 | €29,988 | €369,078 | +€339,090 | +1,131% |
| Trade receivables | 40 | €14,636 | €356,235 | +€341,599 | +2,334% |
| Other amounts receivable | 41 | €15,352 | €12,843 | -€2,509 | -16.3% |
| Current investments | 50/53 | €69,146 | €81,710 | +€12,564 | +18.2% |
| Cash at bank and in hand | 54/58 | €55,702 | €60,037 | +€4,335 | +7.8% |
| Total equity and liabilities | 10/49 | €2,984,410 | €2,658,230 | -€326,180 | -10.9% |
| Equity | 10/15 | €466,332 | €343,683 | -€122,649 | -26.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €453,932 | €331,283 | -€122,649 | -27.0% |
| Distributable reserves | 133 | €453,932 | €331,283 | -€122,649 | -27.0% |
| Amounts payable | 17/49 | €2,518,078 | €2,314,548 | -€203,530 | -8.1% |
| Amounts payable after more than one year | 17 | €1,904,004 | €1,534,517 | -€369,487 | -19.4% |
| Financial debts | 170/4 | €1,904,004 | €1,534,517 | -€369,487 | -19.4% |
| Amounts payable within one year | 42/48 | €514,074 | €779,780 | +€265,707 | +51.7% |
| Current portion of amounts payable after more than one year | 42 | €101,307 | €139,643 | +€38,336 | +37.8% |
| Trade debts | 44 | €62,178 | - | -€62,178 | |
| Suppliers | 440/4 | €62,178 | - | -€62,178 | |
| Taxes, remuneration and social security | 45 | €18,037 | €17,441 | -€596 | -3.3% |
| Taxes | 450/3 | €18,037 | €17,441 | -€596 | -3.3% |
| Other amounts payable | 47/48 | €332,551 | €622,696 | +€290,145 | +87.2% |
| Accrued charges and deferred income | 492/3 | €100,000 | €250 | -€99,750 | -99.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,086 | €108,998 | +€13,912 | +14.6% |
| Other operating charges | 640/8 | €14,554 | €14,760 | +€206 | +1.4% |
| Gross operating margin | 9900 | €187,610 | €262,978 | +€75,368 | +40.2% |
| Operating profit (loss) | 9901 | €77,970 | €139,220 | +€61,250 | +78.6% |
| Financial income | 75/76B | €19,052 | €1,232 | -€17,820 | -93.5% |
| Recurring financial income | 75 | €19,052 | €1,232 | -€17,820 | -93.5% |
| Financial charges | 65/66B | €24,529 | €72,193 | +€47,664 | +194% |
| Recurring financial charges | 65 | €24,529 | €72,193 | +€47,664 | +194% |
| Profit (loss) for the period before taxes | 9903 | €72,493 | €68,259 | -€4,234 | -5.8% |
| Income taxes | 67/77 | €19,401 | €19,722 | +€322 | +1.7% |
| Profit (loss) for the period | 9904 | €53,092 | €48,536 | -€4,556 | -8.6% |
| Profit (loss) for the period to be appropriated | 9905 | €53,092 | €48,536 | -€4,556 | -8.6% |
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 3 November 2026 via checked.be.