Vogel Import Export: 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
Vogel Import Export
NACE 46.130, Agents in the wholesale of timber and building materials
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€208,612
2024 · €19,313+€189,299
Equity
€4.2m
2024 · €4.0m+€208,612
Cash
€604,472
2024 · €1.3m-€647,368
Balance sheet total
€8.7m
2024 · €10.6m-€1.9m
Largest movements
Assets
- Receivables within one year -€772,221
down €772,221 (-14.6%), from €5.3m to €4.5m
of which Trade receivables: -€783,539
- Cash -€647,368
down €647,368 (-51.7%), from €1.3m to €604,472
mainly Short-term financial debts (-€2.2m) and Accrued charges and deferred income (-€48,655)
- Stocks and contracts -€439,427
down €439,427 (-12.5%), from €3.5m to €3.1m
Equity and liabilities
- Short-term financial debts -€2.2m
down €2.2m (-35.9%), from €6.0m to €3.9m
- Profit (loss) carried forward +€208,612
up €208,612 (+54.9%), from €379,652 to €588,264
Income statement
- Write-downs -€555,720
down €555,720, from €159,408 to -€396,312
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
€19,313
Turnover
+€88,380
Other operating income
-€33,542
Goods and materials
+€70,920
Services and other goods
-€218,014
Staff costs
-€6,696
Depreciation
-€7,527
Write-downs
+€555,720
Other operating charges
+€51,449
Other operating items
-€446,932
Financial income
+€6,742
Financial charges
+€206,995
Taxes
-€77,975
Deferred taxes and other
-€221
Result 2025
€208,612
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€1.5m
Investment
+€4,817
Financing
-€2.1m
Cash 2024
€1.3m
From operations (derived)
+€1.5m
Net result for the year
+€208,612
Depreciation
+€80,484
Stocks and contracts
+€439,427
Receivables within one year
+€772,221
Deferred charges and accrued income
-€32,945
Trade debts
+€95,291
Tax, wage and social debts
-€30,640
Other debts
+€7,648
Accrued charges and deferred income
-€48,655
Investment (derived)
+€4,817
Investment in fixed assets (net)
+€4,817
Financing
-€2.1m
Debts after one year
+€22,693
Current portion of long-term debt
-€41
Short-term financial debts
-€2.2m
Cash 2025
€604,472
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,628,443 | €8,717,071 | -€1.9m | -18.0% |
| Fixed assets | 21/28 | €545,984 | €460,683 | -€85,301 | -15.6% |
| Intangible fixed assets | 21 | €31,832 | €66,018 | +€34,186 | +107% |
| Tangible fixed assets | 22/27 | €335,642 | €316,775 | -€18,867 | -5.6% |
| Furniture and vehicles | 24 | €70,116 | €72,803 | +€2,687 | +3.8% |
| Other tangible fixed assets | 26 | €265,526 | €243,972 | -€21,554 | -8.1% |
| Financial fixed assets | 28 | €178,510 | €77,890 | -€100,620 | -56.4% |
| Affiliated companies | 280/1 | €124,767 | €74,767 | -€50,000 | -40.1% |
| Participating interests | 280 | €124,767 | €74,767 | -€50,000 | -40.1% |
| Other financial fixed assets | 284/8 | €53,743 | €3,123 | -€50,620 | -94.2% |
| Amounts receivable and cash guarantees | 285/8 | €53,743 | €3,123 | -€50,620 | -94.2% |
| Current assets | 29/58 | €10,082,459 | €8,256,388 | -€1.8m | -18.1% |
| Stocks and contracts in progress | 3 | €3,511,432 | €3,072,005 | -€439,427 | -12.5% |
| Stocks | 30/36 | €3,511,432 | €3,072,005 | -€439,427 | -12.5% |
| Goods purchased for resale | 34 | €3,511,432 | €3,072,005 | -€439,427 | -12.5% |
| Amounts receivable within one year | 40/41 | €5,302,255 | €4,530,034 | -€772,221 | -14.6% |
| Trade receivables | 40 | €5,215,296 | €4,431,757 | -€783,539 | -15.0% |
| Other amounts receivable | 41 | €86,959 | €98,277 | +€11,318 | +13.0% |
| Cash at bank and in hand | 54/58 | €1,251,840 | €604,472 | -€647,368 | -51.7% |
| Deferred charges and accrued income | 490/1 | €16,932 | €49,877 | +€32,945 | +195% |
| Total equity and liabilities | 10/49 | €10,628,443 | €8,717,071 | -€1.9m | -18.0% |
| Equity | 10/15 | €4,039,652 | €4,248,264 | +€208,612 | +5.2% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Capital | 10 | €600,000 | €600,000 | = | 0.0% |
| Issued capital | 100 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €3,060,000 | €3,060,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €60,000 | €60,000 | = | 0.0% |
| Legal reserve | 130 | €60,000 | €60,000 | = | 0.0% |
| Distributable reserves | 133 | €3,000,000 | €3,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €379,652 | €588,264 | +€208,612 | +54.9% |
| Amounts payable | 17/49 | €6,588,791 | €4,468,807 | -€2.1m | -32.2% |
| Amounts payable after more than one year | 17 | €2,356 | €25,049 | +€22,693 | +963% |
| Financial debts | 170/4 | €2,356 | €25,049 | +€22,693 | +963% |
| Credit institutions | 173 | €2,356 | €25,049 | +€22,693 | +963% |
| Amounts payable within one year | 42/48 | €6,505,600 | €4,411,578 | -€2.1m | -32.2% |
| Current portion of amounts payable after more than one year | 42 | €9,421 | €9,380 | -€41 | -0.4% |
| Financial debts | 43 | €6,037,441 | €3,871,161 | -€2.2m | -35.9% |
| Credit institutions | 430/8 | €6,037,441 | €3,871,161 | -€2.2m | -35.9% |
| Trade debts | 44 | €354,039 | €449,330 | +€95,291 | +26.9% |
| Suppliers | 440/4 | €354,039 | €449,330 | +€95,291 | +26.9% |
| Taxes, remuneration and social security | 45 | €99,213 | €68,573 | -€30,640 | -30.9% |
| Taxes | 450/3 | €25,705 | - | -€25,705 | |
| Remuneration and social security | 454/9 | €73,508 | €68,573 | -€4,935 | -6.7% |
| Other amounts payable | 47/48 | €5,486 | €13,134 | +€7,648 | +139% |
| Accrued charges and deferred income | 492/3 | €80,835 | €32,180 | -€48,655 | -60.2% |
| Operating income | 70/76A | €28,683,896 | €28,727,234 | +€43,338 | +0.2% |
| Turnover | 70 | €28,606,406 | €28,694,786 | +€88,380 | +0.3% |
| Other operating income | 74 | €65,990 | €32,448 | -€33,542 | -50.8% |
| Non-recurring operating income | 76A | €11,500 | - | -€11,500 | |
| Operating charges | 60/66A | €28,132,383 | €28,121,963 | -€10,420 | 0.0% |
| Goods for resale, raw materials and consumables | 60 | €24,785,753 | €24,714,833 | -€70,920 | -0.3% |
| Purchases | 600/8 | €24,518,784 | €24,275,406 | -€243,378 | -1.0% |
| Change in stocks: decrease (increase) | 609 | €266,969 | €439,427 | +€172,458 | +64.6% |
| Services and other goods | 61 | €2,168,083 | €2,386,097 | +€218,014 | +10.1% |
| Remuneration, social security and pensions | 62 | €838,388 | €845,084 | +€6,696 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,957 | €80,484 | +€7,527 | +10.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €159,408 | -€396,312 | -€555,720 | |
| Other operating charges | 640/8 | €96,294 | €44,845 | -€51,449 | -53.4% |
| Non-recurring operating charges | 66A | €11,500 | €446,932 | +€435,432 | +3,786% |
| Operating profit (loss) | 9901 | €551,513 | €605,271 | +€53,758 | +9.7% |
| Financial income | 75/76B | €131,887 | €138,629 | +€6,742 | +5.1% |
| Recurring financial income | 75 | €131,887 | €138,629 | +€6,742 | +5.1% |
| Other financial income | 752/9 | €131,887 | €138,629 | +€6,742 | +5.1% |
| Financial charges | 65/66B | €642,796 | €435,801 | -€206,995 | -32.2% |
| Recurring financial charges | 65 | €642,796 | €385,801 | -€256,995 | -40.0% |
| Debt charges | 650 | €392,193 | €281,222 | -€110,971 | -28.3% |
| Other financial charges | 652/9 | €250,603 | €104,579 | -€146,024 | -58.3% |
| Non-recurring financial charges | 66B | - | €50,000 | +€50,000 | |
| Profit (loss) for the period before taxes | 9903 | €40,604 | €308,099 | +€267,495 | +659% |
| Transfer from deferred taxes | 780 | €221 | - | -€221 | |
| Income taxes | 67/77 | €21,512 | €99,487 | +€77,975 | +362% |
| Taxes | 670/3 | €21,512 | €99,500 | +€77,988 | +363% |
| Tax adjustments and reversals of tax provisions | 77 | - | €13 | +€13 | |
| Profit (loss) for the period | 9904 | €19,313 | €208,612 | +€189,299 | +980% |
| Transfer from tax-exempt reserves | 789 | €662 | - | -€662 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,975 | €208,612 | +€188,637 | +944% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.