VOGELHOEK: 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.
VOGELHOEK
Largest movements
- Cash +€97,825
up €97,825 (+43.2%), from €226,558 to €324,384
mainly Net result for the year (+€134,371) and Depreciation (+€36,098)
- Profit (loss) carried forward +€132,306
up €132,306 (+30.0%), from €441,569 to €573,876
- Debts after one year -€46,490
down €46,490 (-11.8%), from €395,166 to €348,676
- Financial income +€4,369
up €4,369 (+682,680%), from €1 to €4,370
- Gross operating margin +€2,433
up €2,433 (+1.0%), from €240,296 to €242,729
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 | €2,276,886 | €2,372,663 | +€95,777 | +4.2% |
| Fixed assets | 21/28 | €2,050,320 | €2,045,312 | -€5,009 | -0.2% |
| Tangible fixed assets | 22/27 | €2,050,290 | €2,045,282 | -€5,009 | -0.2% |
| Land and buildings | 22 | €2,050,290 | €2,045,282 | -€5,009 | -0.2% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €226,566 | €327,352 | +€100,786 | +44.5% |
| Amounts receivable within one year | 40/41 | €7 | €7 | = | 0.0% |
| Other amounts receivable | 41 | €7 | €7 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €226,558 | €324,384 | +€97,825 | +43.2% |
| Deferred charges and accrued income | 490/1 | €0 | €2,960 | +€2,960 | |
| Total equity and liabilities | 10/49 | €2,276,886 | €2,372,663 | +€95,777 | +4.2% |
| Equity | 10/15 | €1,789,148 | €1,923,520 | +€134,371 | +7.5% |
| Contributions | 10/11 | €1,226,949 | €1,226,949 | = | 0.0% |
| Capital | 10 | €1,226,949 | €1,226,949 | = | 0.0% |
| Issued capital | 100 | €1,226,949 | €1,226,949 | = | 0.0% |
| Reserves | 13 | €120,630 | €122,695 | +€2,065 | +1.7% |
| Non-distributable reserves | 130/1 | €120,630 | €122,695 | +€2,065 | +1.7% |
| Legal reserve | 130 | €120,630 | €122,695 | +€2,065 | +1.7% |
| Profit (loss) carried forward | 14 | €441,569 | €573,876 | +€132,306 | +30.0% |
| Amounts payable | 17/49 | €487,737 | €449,143 | -€38,594 | -7.9% |
| Amounts payable after more than one year | 17 | €395,166 | €348,676 | -€46,490 | -11.8% |
| Financial debts | 170/4 | €395,166 | €348,676 | -€46,490 | -11.8% |
| Amounts payable within one year | 42/48 | €83,068 | €90,485 | +€7,416 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €69,333 | €76,490 | +€7,157 | +10.3% |
| Taxes, remuneration and social security | 45 | €13,735 | €13,994 | +€259 | +1.9% |
| Taxes | 450/3 | €13,735 | €13,994 | +€259 | +1.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €9,503 | €9,983 | +€480 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,263 | €36,098 | +€836 | +2.4% |
| Other operating charges | 640/8 | €22,865 | €23,864 | +€999 | +4.4% |
| Gross operating margin | 9900 | €240,296 | €242,729 | +€2,433 | +1.0% |
| Operating profit (loss) | 9901 | €182,168 | €182,767 | +€598 | +0.3% |
| Financial income | 75/76B | €1 | €4,370 | +€4,369 | +682,680% |
| Recurring financial income | 75 | €1 | €4,370 | +€4,369 | +682,680% |
| Financial charges | 65/66B | €8,356 | €7,460 | -€896 | -10.7% |
| Recurring financial charges | 65 | €8,356 | €7,460 | -€896 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €173,814 | €179,677 | +€5,863 | +3.4% |
| Income taxes | 67/77 | €43,735 | €45,305 | +€1,570 | +3.6% |
| Profit (loss) for the period | 9904 | €130,078 | €134,371 | +€4,293 | +3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €130,078 | €134,371 | +€4,293 | +3.3% |
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 21 October 2026 via checked.be.