VOG: 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.
VOG
Largest movements
- Receivables within one year +€24,225
up €24,225 (+680.7%), from €3,559 to €27,784
of which Trade receivables: +€25,175
- Tangible fixed assets +€16,729
up €16,729 (+427.0%), from €3,918 to €20,647
of which Furniture and vehicles: +€17,312
- Cash +€14,114
up €14,114 (+43.7%), from €32,306 to €46,420
mainly Net result for the year (+€29,659) and Trade debts (+€21,422)
- Reserves +€26,881
up €26,881 (+98.9%), from €27,179 to €54,060
- Trade debts +€21,422
up €21,422 (+1677.2%), from €1,277 to €22,699
- Tax, wage and social debts +€7,015
up €7,015 (+446.6%), from €1,571 to €8,585
- Other debts -€3,639
down €3,639 (-36.1%), from €10,070 to €6,431
- Profit (loss) carried forward +€2,778
no longer reported in 2025 (was -€2,778)
- Gross operating margin +€38,073
up €38,073 (+381.8%), from €9,972 to €48,045
- Taxes +€13,444
up €13,444 (+856.0%), from €1,571 to €15,015
- Depreciation -€579
down €579 (-24.6%), from €2,349 to €1,771
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 | €41,319 | €95,776 | +€54,457 | +131.8% |
| Fixed assets | 21/28 | €3,918 | €20,647 | +€16,729 | +427.0% |
| Tangible fixed assets | 22/27 | €3,918 | €20,647 | +€16,729 | +427.0% |
| Plant, machinery and equipment | 23 | €1,096 | €513 | -€583 | -53.2% |
| Furniture and vehicles | 24 | €2,822 | €20,134 | +€17,312 | +613.5% |
| Current assets | 29/58 | €37,402 | €75,129 | +€37,727 | +100.9% |
| Amounts receivable within one year | 40/41 | €3,559 | €27,784 | +€24,225 | +680.7% |
| Trade receivables | 40 | €303 | €25,478 | +€25,175 | +8322.4% |
| Other amounts receivable | 41 | €3,256 | €2,306 | -€950 | -29.2% |
| Cash at bank and in hand | 54/58 | €32,306 | €46,420 | +€14,114 | +43.7% |
| Deferred charges and accrued income | 490/1 | €1,537 | €925 | -€612 | -39.8% |
| Total equity and liabilities | 10/49 | €41,319 | €95,776 | +€54,457 | +131.8% |
| Equity | 10/15 | €28,401 | €58,060 | +€29,659 | +104.4% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €27,179 | €54,060 | +€26,881 | +98.9% |
| Distributable reserves | 133 | €27,179 | €54,060 | +€26,881 | +98.9% |
| Profit (loss) carried forward | 14 | -€2,778 | - | +€2,778 | |
| Amounts payable | 17/49 | €12,918 | €37,716 | +€24,798 | +192.0% |
| Amounts payable within one year | 42/48 | €12,918 | €37,716 | +€24,798 | +192.0% |
| Trade debts | 44 | €1,277 | €22,699 | +€21,422 | +1677.2% |
| Suppliers | 440/4 | €1,277 | €22,699 | +€21,422 | +1677.2% |
| Taxes, remuneration and social security | 45 | €1,571 | €8,585 | +€7,015 | +446.6% |
| Taxes | 450/3 | €1,571 | €8,585 | +€7,015 | +446.6% |
| Other amounts payable | 47/48 | €10,070 | €6,431 | -€3,639 | -36.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,349 | €1,771 | -€579 | -24.6% |
| Other operating charges | 640/8 | €1,013 | €934 | -€80 | -7.9% |
| Gross operating margin | 9900 | €9,972 | €48,045 | +€38,073 | +381.8% |
| Operating profit (loss) | 9901 | €6,610 | €45,341 | +€38,731 | +586.0% |
| Financial income | 75/76B | €1 | €9 | +€8 | +811.0% |
| Recurring financial income | 75 | €1 | €9 | +€8 | +811.0% |
| Financial charges | 65/66B | €945 | €676 | -€270 | -28.5% |
| Recurring financial charges | 65 | €945 | €676 | -€270 | -28.5% |
| Profit (loss) for the period before taxes | 9903 | €5,665 | €44,674 | +€39,009 | +688.6% |
| Income taxes | 67/77 | €1,571 | €15,015 | +€13,444 | +856.0% |
| Profit (loss) for the period | 9904 | €4,095 | €29,659 | +€25,564 | +624.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,095 | €29,659 | +€25,564 | +624.4% |
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 8 October 2026 via checked.be.