Voet & Zool: 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.
Voet & Zool
Largest movements
- Tangible fixed assets +€29,263
up €29,263 (+73.4%), from €39,881 to €69,144
of which Plant, machinery and equipment: +€17,125
- Cash -€13,151
down €13,151 (-12.5%), from €105,192 to €92,041
mainly Investment in fixed assets (net) (-€41,669) and Debts after one year (-€7,035)
- Receivables within one year +€1,842
up €1,842 (+31.6%), from €5,837 to €7,680
of which Trade receivables: +€5,443
- Reserves +€21,884
up €21,884 (+29.5%), from €74,153 to €96,038
- Debts after one year -€7,035
down €7,035 (-15.0%), from €46,906 to €39,871
- Other debts +€5,656
new in 2025: €5,656
- Current portion of long-term debt +€4,275
new in 2025: €4,275
- Trade debts -€3,611
down €3,611 (-33.0%), from €10,940 to €7,329
- Depreciation +€7,934
up €7,934 (+177%), from €4,473 to €12,406
- Gross operating margin -€3,781
down €3,781 (-8.0%), from €47,468 to €43,687
- Taxes -€3,215
down €3,215 (-36.1%), from €8,911 to €5,696
- Financial charges +€1,228
up €1,228 (+134%), from €917 to €2,146
- Other operating charges +€701
up €701 (+81.9%), from €857 to €1,558
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.
Derived cash bridge
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 | €150,910 | €168,864 | +€17,954 | +11.9% |
| Fixed assets | 21/28 | €39,881 | €69,144 | +€29,263 | +73.4% |
| Tangible fixed assets | 22/27 | €39,881 | €69,144 | +€29,263 | +73.4% |
| Plant, machinery and equipment | 23 | €16,917 | €34,042 | +€17,125 | +101% |
| Furniture and vehicles | 24 | - | €8,768 | +€8,768 | |
| Other tangible fixed assets | 26 | €22,964 | €26,334 | +€3,370 | +14.7% |
| Current assets | 29/58 | €111,029 | €99,721 | -€11,309 | -10.2% |
| Amounts receivable within one year | 40/41 | €5,837 | €7,680 | +€1,842 | +31.6% |
| Trade receivables | 40 | €2,237 | €7,680 | +€5,443 | +243% |
| Other amounts receivable | 41 | €3,601 | - | -€3,601 | |
| Cash at bank and in hand | 54/58 | €105,192 | €92,041 | -€13,151 | -12.5% |
| Total equity and liabilities | 10/49 | €150,910 | €168,864 | +€17,954 | +11.9% |
| Equity | 10/15 | €84,153 | €106,038 | +€21,884 | +26.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €74,153 | €96,038 | +€21,884 | +29.5% |
| Distributable reserves | 133 | €74,153 | €96,038 | +€21,884 | +29.5% |
| Amounts payable | 17/49 | €66,757 | €62,827 | -€3,930 | -5.9% |
| Amounts payable after more than one year | 17 | €46,906 | €39,871 | -€7,035 | -15.0% |
| Financial debts | 170/4 | €46,906 | €39,871 | -€7,035 | -15.0% |
| Amounts payable within one year | 42/48 | €19,851 | €22,956 | +€3,105 | +15.6% |
| Current portion of amounts payable after more than one year | 42 | - | €4,275 | +€4,275 | |
| Trade debts | 44 | €10,940 | €7,329 | -€3,611 | -33.0% |
| Suppliers | 440/4 | €10,940 | €7,329 | -€3,611 | -33.0% |
| Taxes, remuneration and social security | 45 | €8,911 | €5,696 | -€3,215 | -36.1% |
| Taxes | 450/3 | €8,911 | €5,696 | -€3,215 | -36.1% |
| Other amounts payable | 47/48 | - | €5,656 | +€5,656 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,473 | €12,406 | +€7,934 | +177% |
| Other operating charges | 640/8 | €857 | €1,558 | +€701 | +81.9% |
| Gross operating margin | 9900 | €47,468 | €43,687 | -€3,781 | -8.0% |
| Operating profit (loss) | 9901 | €42,139 | €29,723 | -€12,416 | -29.5% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €917 | €2,146 | +€1,228 | +134% |
| Recurring financial charges | 65 | €917 | €2,146 | +€1,228 | +134% |
| Profit (loss) for the period before taxes | 9903 | €41,222 | €27,580 | -€13,641 | -33.1% |
| Income taxes | 67/77 | €8,911 | €5,696 | -€3,215 | -36.1% |
| Profit (loss) for the period | 9904 | €32,311 | €21,884 | -€10,426 | -32.3% |
| Profit (loss) for the period to be appropriated | 9905 | €32,311 | €21,884 | -€10,426 | -32.3% |
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 25 October 2026 via checked.be.