VOEDING LESAGE: 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.
What changed
VOEDING LESAGE
NACE 46.360, Wholesale trade
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€138,695
2024 · €160,139-€21,444
Equity
€3.2m
2024 · €3.0m+€138,695
Cash
€217,779
2024 · €51,610+€166,169
Balance sheet total
€22.5m
2024 · €23.6m-€1.0m
Largest movements
Assets
- Stocks and contracts -€948,852
down €948,852 (-4.6%), from €20.6m to €19.6m
Equity and liabilities
- Trade debts -€3.2m
down €3.2m (-42.1%), from €7.6m to €4.4m
- Short-term financial debts +€1.4m
up €1.4m (+14.6%), from €9.3m to €10.6m
of which Credit institutions: +€1.4m
- Advances received +€786,544
up €786,544 (+831.9%), from €94,549 to €881,093
Income statement
- Turnover -€5.7m
down €5.7m (-19.5%), from €29.1m to €23.4m
- Goods and materials -€4.9m
down €4.9m (-20.5%), from €24.0m to €19.1m
of which Purchases: -€6.4m
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.
Result 2024
€160,139
Turnover
-€5.7m
Other operating income
-€24,278
Goods and materials
+€4.9m
Services and other goods
+€284,529
Staff costs
+€202,582
Depreciation
-€18,187
Write-downs
+€9,317
Other operating charges
+€1,642
Other operating items
+€58,622
Financial income
+€158
Financial charges
+€223,782
Taxes
+€4,959
Result 2025
€138,695
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.
From operations
-€956,111
Investment
-€168,129
Financing
+€1.3m
Cash 2024
€51,610
From operations (derived)
-€956,111
Net result for the year
+€138,695
Depreciation
+€219,968
Stocks and contracts
+€948,852
Receivables within one year
+€233,278
Deferred charges and accrued income
-€28,976
Trade debts
-€3.2m
Tax, wage and social debts
-€21,079
Advances received
+€786,544
Accrued charges and deferred income
-€24,700
Investment (derived)
-€168,129
Investment in fixed assets (net)
-€168,129
Financing
+€1.3m
Debts after one year
-€46,736
Current portion of long-term debt
-€20,655
Short-term financial debts
+€1.4m
Cash 2025
€217,779
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,583,685 | €22,544,862 | -€1.0m | -4.4% |
| Fixed assets | 21/28 | €719,590 | €667,752 | -€51,839 | -7.2% |
| Intangible fixed assets | 21 | €111,242 | €120,825 | +€9,583 | +8.6% |
| Tangible fixed assets | 22/27 | €565,816 | €504,364 | -€61,452 | -10.9% |
| Land and buildings | 22 | €229 | €124 | -€105 | -45.9% |
| Plant, machinery and equipment | 23 | €49,959 | €36,203 | -€13,757 | -27.5% |
| Furniture and vehicles | 24 | €158,489 | €154,133 | -€4,356 | -2.7% |
| Leasing and similar rights | 25 | €21,408 | €14,348 | -€7,060 | -33.0% |
| Other tangible fixed assets | 26 | €335,730 | €299,556 | -€36,174 | -10.8% |
| Financial fixed assets | 28 | €42,533 | €42,563 | +€30 | +0.1% |
| Other financial fixed assets | 284/8 | €42,533 | €42,563 | +€30 | +0.1% |
| Shares | 284 | €13,933 | €13,933 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €28,600 | €28,630 | +€30 | +0.1% |
| Current assets | 29/58 | €22,864,095 | €21,877,110 | -€986,985 | -4.3% |
| Stocks and contracts in progress | 3 | €20,585,578 | €19,636,726 | -€948,852 | -4.6% |
| Stocks | 30/36 | €20,585,578 | €19,636,726 | -€948,852 | -4.6% |
| Goods purchased for resale | 34 | €16,008,865 | €16,097,013 | +€88,149 | +0.6% |
| Advance payments | 36 | €4,576,714 | €3,539,713 | -€1.0m | -22.7% |
| Amounts receivable within one year | 40/41 | €2,130,536 | €1,897,258 | -€233,278 | -10.9% |
| Trade receivables | 40 | €2,121,416 | €1,868,986 | -€252,429 | -11.9% |
| Other amounts receivable | 41 | €9,120 | €28,271 | +€19,151 | +210.0% |
| Cash at bank and in hand | 54/58 | €51,610 | €217,779 | +€166,169 | +322.0% |
| Deferred charges and accrued income | 490/1 | €96,371 | €125,347 | +€28,976 | +30.1% |
| Total equity and liabilities | 10/49 | €23,583,685 | €22,544,862 | -€1.0m | -4.4% |
| Equity | 10/15 | €3,041,332 | €3,180,027 | +€138,695 | +4.6% |
| Contributions | 10/11 | €1,175,000 | €1,175,000 | = | 0.0% |
| Capital | 10 | €1,175,000 | €1,175,000 | = | 0.0% |
| Issued capital | 100 | €1,175,000 | €1,175,000 | = | 0.0% |
| Reserves | 13 | €589,600 | €597,500 | +€7,900 | +1.3% |
| Non-distributable reserves | 130/1 | €109,600 | €117,500 | +€7,900 | +7.2% |
| Legal reserve | 130 | €109,600 | €117,500 | +€7,900 | +7.2% |
| Distributable reserves | 133 | €480,000 | €480,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,276,732 | €1,407,527 | +€130,795 | +10.2% |
| Amounts payable | 17/49 | €20,542,354 | €19,364,835 | -€1.2m | -5.7% |
| Amounts payable after more than one year | 17 | €2,721,350 | €2,674,614 | -€46,736 | -1.7% |
| Financial debts | 170/4 | €156,846 | €16,320 | -€140,526 | -89.6% |
| Leasing and similar obligations | 172 | €13,768 | €6,137 | -€7,630 | -55.4% |
| Credit institutions | 173 | €143,078 | €10,182 | -€132,896 | -92.9% |
| Other amounts payable | 178/9 | €2,564,504 | €2,658,294 | +€93,790 | +3.7% |
| Amounts payable within one year | 42/48 | €17,672,456 | €16,566,375 | -€1.1m | -6.3% |
| Current portion of amounts payable after more than one year | 42 | €160,526 | €139,871 | -€20,655 | -12.9% |
| Financial debts | 43 | €9,273,899 | €10,631,700 | +€1.4m | +14.6% |
| Credit institutions | 430/8 | €9,133,899 | €10,491,700 | +€1.4m | +14.9% |
| Other loans | 439 | €140,000 | €140,000 | = | 0.0% |
| Trade debts | 44 | €7,626,795 | €4,418,103 | -€3.2m | -42.1% |
| Suppliers | 440/4 | €7,626,795 | €4,418,103 | -€3.2m | -42.1% |
| Advances received on contracts in progress | 46 | €94,549 | €881,093 | +€786,544 | +831.9% |
| Taxes, remuneration and social security | 45 | €516,687 | €495,607 | -€21,079 | -4.1% |
| Taxes | 450/3 | €306,472 | €302,586 | -€3,886 | -1.3% |
| Remuneration and social security | 454/9 | €210,215 | €193,021 | -€17,194 | -8.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €148,547 | €123,847 | -€24,700 | -16.6% |
| Operating income | 70/76A | €29,300,604 | €23,609,117 | -€5.7m | -19.4% |
| Turnover | 70 | €29,064,094 | €23,392,670 | -€5.7m | -19.5% |
| Other operating income | 74 | €210,518 | €186,241 | -€24,278 | -11.5% |
| Non-recurring operating income | 76A | €25,992 | €30,206 | +€4,215 | +16.2% |
| Operating charges | 60/66A | €28,194,380 | €22,753,235 | -€5.4m | -19.3% |
| Goods for resale, raw materials and consumables | 60 | €23,969,133 | €19,062,280 | -€4.9m | -20.5% |
| Purchases | 600/8 | €23,075,125 | €16,663,756 | -€6.4m | -27.8% |
| Change in stocks: decrease (increase) | 609 | €894,008 | €2,398,524 | +€1.5m | +168.3% |
| Services and other goods | 61 | €1,941,132 | €1,656,603 | -€284,529 | -14.7% |
| Remuneration, social security and pensions | 62 | €2,006,620 | €1,804,037 | -€202,582 | -10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €201,781 | €219,968 | +€18,187 | +9.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€26,207 | -€35,524 | -€9,317 | -35.6% |
| Other operating charges | 640/8 | €37,878 | €36,237 | -€1,642 | -4.3% |
| Non-recurring operating charges | 66A | €64,042 | €9,635 | -€54,407 | -85.0% |
| Operating profit (loss) | 9901 | €1,106,224 | €855,882 | -€250,343 | -22.6% |
| Financial income | 75/76B | €14,843 | €15,000 | +€158 | +1.1% |
| Recurring financial income | 75 | €14,843 | €15,000 | +€158 | +1.1% |
| Income from financial fixed assets | 750 | €4 | €4 | -€0 | -5.0% |
| Other financial income | 752/9 | €14,838 | €14,996 | +€158 | +1.1% |
| Financial charges | 65/66B | €894,411 | €670,629 | -€223,782 | -25.0% |
| Recurring financial charges | 65 | €792,624 | €670,629 | -€121,995 | -15.4% |
| Debt charges | 650 | €704,008 | €591,874 | -€112,134 | -15.9% |
| Other financial charges | 652/9 | €88,616 | €78,755 | -€9,861 | -11.1% |
| Non-recurring financial charges | 66B | €101,787 | €0 | -€101,787 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €226,656 | €200,253 | -€26,403 | -11.6% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €66,517 | €61,558 | -€4,959 | -7.5% |
| Taxes | 670/3 | €66,517 | €61,558 | -€4,959 | -7.5% |
| Profit (loss) for the period | 9904 | €160,139 | €138,695 | -€21,444 | -13.4% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €160,139 | €138,695 | -€21,444 | -13.4% |
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 11 October 2026 via checked.be.