VODA: 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.
VODA
Largest movements
- Receivables within one year -€26,544
down €26,544 (-94.2%), from €28,174 to €1,629
of which Trade receivables: -€25,752
- Cash +€6,801
up €6,801 (+90.6%), from €7,509 to €14,310
mainly Receivables within one year (+€26,544) and Net result for the year (+€11,165)
- Tangible fixed assets +€4,356
up €4,356 (+9.3%), from €46,705 to €51,061
of which Furniture and vehicles: +€3,725
- Stocks and contracts +€2,015
up €2,015 (+10.8%), from €18,650 to €20,665
- Other debts -€41,590
down €41,590 (-49.0%), from €84,820 to €43,230
- Tax, wage and social debts +€9,170
up €9,170 (+657.5%), from €1,395 to €10,565
of which Taxes: +€8,200
- Profit (loss) carried forward +€8,867
no longer reported in 2025 (was -€8,867)
- Trade debts +€5,787
up €5,787 (+126.1%), from €4,589 to €10,377
- Accrued charges and deferred income +€2,964
up €2,964 (+704.8%), from €421 to €3,385
- Gross operating margin +€31,554
up €31,554 (+147.1%), from €21,452 to €53,006
- Staff costs +€17,396
up €17,396 (+133.8%), from €13,001 to €30,397
- Depreciation +€6,216
up €6,216 (+154.8%), from €4,015 to €10,231
- Financial income +€1,128
up €1,128 (+832.0%), from €136 to €1,263
- Write-downs +€660
no longer reported in 2025 (was -€660)
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.
Cash bridge derived
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 | €101,412 | €88,676 | -€12,736 | -12.6% |
| Fixed assets | 21/28 | €46,705 | €51,061 | +€4,356 | +9.3% |
| Tangible fixed assets | 22/27 | €46,705 | €51,061 | +€4,356 | +9.3% |
| Plant, machinery and equipment | 23 | €27,027 | €24,887 | -€2,140 | -7.9% |
| Furniture and vehicles | 24 | €9,490 | €13,214 | +€3,725 | +39.2% |
| Other tangible fixed assets | 26 | €10,188 | €12,960 | +€2,772 | +27.2% |
| Current assets | 29/58 | €54,707 | €37,616 | -€17,091 | -31.2% |
| Stocks and contracts in progress | 3 | €18,650 | €20,665 | +€2,015 | +10.8% |
| Stocks | 30/36 | €18,650 | €20,665 | +€2,015 | +10.8% |
| Amounts receivable within one year | 40/41 | €28,174 | €1,629 | -€26,544 | -94.2% |
| Trade receivables | 40 | €25,752 | - | -€25,752 | |
| Other amounts receivable | 41 | €2,421 | €1,629 | -€792 | -32.7% |
| Cash at bank and in hand | 54/58 | €7,509 | €14,310 | +€6,801 | +90.6% |
| Deferred charges and accrued income | 490/1 | €374 | €1,012 | +€637 | +170.3% |
| Total equity and liabilities | 10/49 | €101,412 | €88,676 | -€12,736 | -12.6% |
| Equity | 10/15 | €9,733 | €20,898 | +€11,165 | +114.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €2,298 | +€2,298 | |
| Distributable reserves | 133 | - | €2,298 | +€2,298 | |
| Profit (loss) carried forward | 14 | -€8,867 | - | +€8,867 | |
| Amounts payable | 17/49 | €91,679 | €67,778 | -€23,901 | -26.1% |
| Amounts payable within one year | 42/48 | €91,258 | €64,393 | -€26,865 | -29.4% |
| Financial debts | 43 | €454 | €221 | -€233 | -51.3% |
| Credit institutions | 430/8 | €454 | €221 | -€233 | -51.3% |
| Trade debts | 44 | €4,589 | €10,377 | +€5,787 | +126.1% |
| Suppliers | 440/4 | €4,589 | €10,377 | +€5,787 | +126.1% |
| Taxes, remuneration and social security | 45 | €1,395 | €10,565 | +€9,170 | +657.5% |
| Taxes | 450/3 | - | €8,200 | +€8,200 | |
| Remuneration and social security | 454/9 | €1,395 | €2,365 | +€970 | +69.5% |
| Other amounts payable | 47/48 | €84,820 | €43,230 | -€41,590 | -49.0% |
| Accrued charges and deferred income | 492/3 | €421 | €3,385 | +€2,964 | +704.8% |
| Non-recurring operating income | 76A | - | €1,799 | +€1,799 | |
| Remuneration, social security and pensions | 62 | €13,001 | €30,397 | +€17,396 | +133.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,015 | €10,231 | +€6,216 | +154.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€660 | - | +€660 | |
| Other operating charges | 640/8 | €1,572 | €1,453 | -€119 | -7.6% |
| Gross operating margin | 9900 | €21,452 | €53,006 | +€31,554 | +147.1% |
| Operating profit (loss) | 9901 | €3,523 | €10,925 | +€7,402 | +210.1% |
| Financial income | 75/76B | €136 | €1,263 | +€1,128 | +832.0% |
| Recurring financial income | 75 | €136 | €1,263 | +€1,128 | +832.0% |
| Financial charges | 65/66B | €149 | €793 | +€644 | +431.7% |
| Recurring financial charges | 65 | €149 | €793 | +€644 | +431.7% |
| Profit (loss) for the period before taxes | 9903 | €3,510 | €11,395 | +€7,886 | +224.7% |
| Income taxes | 67/77 | - | €230 | +€230 | |
| Profit (loss) for the period | 9904 | €3,510 | €11,165 | +€7,656 | +218.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,510 | €11,165 | +€7,656 | +218.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.