VODOVO: what changed
VODOVO
Largest movements
- Receivables within one year +€65,933
up €65,933 (+359%), from €18,353 to €84,286
of which Trade receivables: +€65,718
- Deferred charges and accrued income -€19,349
down €19,349 (-83.9%), from €23,065 to €3,717
- Cash +€11,217
up €11,217 (+5,135%), from €218 to €11,436
mainly Net result for the year (+€44,170) and Deferred charges and accrued income (+€19,349)
- Intangible fixed assets -€8,004
down €8,004 (-28.6%), from €27,980 to €19,976
- Stocks and contracts -€5,642
down €5,642 (-20.6%), from €27,448 to €21,806
- Profit (loss) carried forward +€44,170
up €44,170, from -€42,634 to €1,536
- Debts after one year -€6,236
down €6,236 (-14.5%), from €43,147 to €36,911
- Other debts +€2,150
up €2,150 (+142%), from €1,515 to €3,665
- Tax, wage and social debts +€2,008
up €2,008 (+51.9%), from €3,869 to €5,877
of which Taxes: +€2,268
- Gross operating margin +€82,032
up €82,032, from -€13,759 to €68,273
- Write-downs +€6,663
new in 2025: €6,663
- Taxes +€1,960
up €1,960 (+635%), from €308 to €2,268
- Financial charges -€1,171
down €1,171 (-21.2%), from €5,528 to €4,357
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €101,008 | €143,947 | +€42,939 | +42.5% |
| Fixed assets | 21/28 | €31,924 | €22,703 | -€9,221 | -28.9% |
| Intangible fixed assets | 21 | €27,980 | €19,976 | -€8,004 | -28.6% |
| Tangible fixed assets | 22/27 | €3,944 | €2,727 | -€1,217 | -30.8% |
| Plant, machinery and equipment | 23 | €3,786 | €2,675 | -€1,111 | -29.3% |
| Furniture and vehicles | 24 | €159 | €53 | -€106 | -66.9% |
| Current assets | 29/58 | €69,084 | €121,244 | +€52,160 | +75.5% |
| Stocks and contracts in progress | 3 | €27,448 | €21,806 | -€5,642 | -20.6% |
| Stocks | 30/36 | €27,448 | €21,806 | -€5,642 | -20.6% |
| Amounts receivable within one year | 40/41 | €18,353 | €84,286 | +€65,933 | +359% |
| Trade receivables | 40 | €17,306 | €83,024 | +€65,718 | +380% |
| Other amounts receivable | 41 | €1,047 | €1,262 | +€215 | +20.6% |
| Cash at bank and in hand | 54/58 | €218 | €11,436 | +€11,217 | +5,135% |
| Deferred charges and accrued income | 490/1 | €23,065 | €3,717 | -€19,349 | -83.9% |
| Total equity and liabilities | 10/49 | €101,008 | €143,947 | +€42,939 | +42.5% |
| Equity | 10/15 | €38,502 | €82,672 | +€44,170 | +115% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €74,936 | €74,936 | = | 0.0% |
| Distributable reserves | 133 | €74,936 | €74,936 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,634 | €1,536 | +€44,170 | |
| Amounts payable | 17/49 | €62,506 | €61,275 | -€1,231 | -2.0% |
| Amounts payable after more than one year | 17 | €43,147 | €36,911 | -€6,236 | -14.5% |
| Financial debts | 170/4 | €43,147 | €36,911 | -€6,236 | -14.5% |
| Amounts payable within one year | 42/48 | €19,359 | €24,364 | +€5,005 | +25.9% |
| Current portion of amounts payable after more than one year | 42 | €5,901 | €6,236 | +€335 | +5.7% |
| Trade debts | 44 | €8,074 | €8,587 | +€513 | +6.3% |
| Suppliers | 440/4 | €8,074 | €8,587 | +€513 | +6.3% |
| Taxes, remuneration and social security | 45 | €3,869 | €5,877 | +€2,008 | +51.9% |
| Taxes | 450/3 | €308 | €2,577 | +€2,268 | +735% |
| Remuneration and social security | 454/9 | €3,561 | €3,300 | -€261 | -7.3% |
| Other amounts payable | 47/48 | €1,515 | €3,665 | +€2,150 | +142% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,671 | €10,006 | +€335 | +3.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €6,663 | +€6,663 | |
| Other operating charges | 640/8 | €1,041 | €808 | -€233 | -22.4% |
| Gross operating margin | 9900 | -€13,759 | €68,273 | +€82,032 | |
| Operating profit (loss) | 9901 | -€24,471 | €50,795 | +€75,267 | |
| Financial income | 75/76B | €1 | €0 | -€1 | -97.8% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -97.8% |
| Financial charges | 65/66B | €5,528 | €4,357 | -€1,171 | -21.2% |
| Recurring financial charges | 65 | €5,528 | €4,357 | -€1,171 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | -€29,999 | €46,438 | +€76,437 | |
| Income taxes | 67/77 | €308 | €2,268 | +€1,960 | +635% |
| Profit (loss) for the period | 9904 | -€30,307 | €44,170 | +€74,477 | |
| Profit (loss) for the period to be appropriated | 9905 | -€30,307 | €44,170 | +€74,477 |
Next steps
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.