VOETS: what changed
Two fiscal 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.
VOETS
Largest movements
- Receivables within one year +€51,270
up €51,270 (+42.1%), from €121,880 to €173,151
of which Other amounts receivable: +€50,000
- Tangible fixed assets -€7,473
down €7,473 (-5.2%), from €145,068 to €137,594
- Other debts +€40,290
up €40,290 (+57.3%), from €70,358 to €110,648
- Profit (loss) carried forward +€7,756
up €7,756 (+9.2%), from €84,550 to €92,306
- Tax, wage and social debts -€6,984
down €6,984 (-30.9%), from €22,613 to €15,629
No income-statement line moved by more than 1% of the activity.
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 | €272,420 | €313,615 | +€41,194 | +15.1% |
| Fixed assets | 21/28 | €145,118 | €137,644 | -€7,473 | -5.1% |
| Tangible fixed assets | 22/27 | €145,068 | €137,594 | -€7,473 | -5.2% |
| Land and buildings | 22 | €145,068 | €137,594 | -€7,473 | -5.2% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €127,303 | €175,970 | +€48,668 | +38.2% |
| Amounts receivable within one year | 40/41 | €121,880 | €173,151 | +€51,270 | +42.1% |
| Trade receivables | 40 | €2,830 | €4,101 | +€1,270 | +44.9% |
| Other amounts receivable | 41 | €119,050 | €169,050 | +€50,000 | +42.0% |
| Cash at bank and in hand | 54/58 | €4,644 | €2,820 | -€1,824 | -39.3% |
| Deferred charges and accrued income | 490/1 | €778 | €0 | -€778 | -100.0% |
| Total equity and liabilities | 10/49 | €272,420 | €313,615 | +€41,194 | +15.1% |
| Equity | 10/15 | €178,766 | €186,522 | +€7,756 | +4.3% |
| Contributions | 10/11 | €74,789 | €74,789 | = | 0.0% |
| Reserves | 13 | €19,427 | €19,427 | = | 0.0% |
| Distributable reserves | 133 | €19,427 | €19,427 | = | 0.0% |
| Profit (loss) carried forward | 14 | €84,550 | €92,306 | +€7,756 | +9.2% |
| Amounts payable | 17/49 | €93,655 | €127,093 | +€33,439 | +35.7% |
| Amounts payable within one year | 42/48 | €93,655 | €127,093 | +€33,439 | +35.7% |
| Trade debts | 44 | €684 | €817 | +€133 | +19.4% |
| Suppliers | 440/4 | €684 | €817 | +€133 | +19.4% |
| Taxes, remuneration and social security | 45 | €22,613 | €15,629 | -€6,984 | -30.9% |
| Taxes | 450/3 | €22,613 | €15,629 | -€6,984 | -30.9% |
| Other amounts payable | 47/48 | €70,358 | €110,648 | +€40,290 | +57.3% |
| Non-recurring operating income | 76A | €1,000 | €0 | -€1,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,473 | €7,473 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €2,455 | €2,525 | +€70 | +2.9% |
| Gross operating margin | 9900 | €142,453 | €141,359 | -€1,094 | -0.8% |
| Operating profit (loss) | 9901 | €132,525 | €131,360 | -€1,165 | -0.9% |
| Financial income | 75/76B | €527 | €295 | -€232 | -44.1% |
| Recurring financial income | 75 | €527 | €295 | -€232 | -44.1% |
| Financial charges | 65/66B | €435 | €308 | -€127 | -29.2% |
| Recurring financial charges | 65 | €435 | €308 | -€127 | -29.2% |
| Profit (loss) for the period before taxes | 9903 | €132,616 | €131,347 | -€1,270 | -1.0% |
| Income taxes | 67/77 | €34,538 | €33,591 | -€947 | -2.7% |
| Profit (loss) for the period | 9904 | €98,078 | €97,756 | -€322 | -0.3% |
| Profit (loss) for the period to be appropriated | 9905 | €98,078 | €97,756 | -€322 | -0.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.