VOGH: what changed
VOGH
Largest movements
- Receivables within one year +€103,749
up €103,749 (+75.5%), from €137,480 to €241,229
of which Trade receivables: +€97,626
- Stocks and contracts -€35,000
down €35,000 (-50.0%), from €70,000 to €35,000
- Other debts +€101,375
up €101,375 (+66.6%), from €152,282 to €253,657
- Trade debts -€28,016
down €28,016 (-94.7%), from €29,587 to €1,571
- Tax, wage and social debts -€4,443
down €4,443 (-88.0%), from €5,049 to €606
- Financial charges -€5,038
down €5,038 (-77.9%), from €6,466 to €1,428
- Financial income -€4,957
down €4,957 (-73.0%), from €6,787 to €1,830
- Gross operating margin -€4,051
down €4,051 (-57.3%), from €7,073 to €3,023
- Taxes -€759
down €759 (-55.6%), from €1,365 to €606
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €210,804 | €281,954 | +€71,150 | +33.8% |
| Current assets | 29/58 | €210,804 | €281,954 | +€71,150 | +33.8% |
| Stocks and contracts in progress | 3 | €70,000 | €35,000 | -€35,000 | -50.0% |
| Stocks | 30/36 | €70,000 | €35,000 | -€35,000 | -50.0% |
| Amounts receivable within one year | 40/41 | €137,480 | €241,229 | +€103,749 | +75.5% |
| Trade receivables | 40 | €137,115 | €234,740 | +€97,626 | +71.2% |
| Other amounts receivable | 41 | €365 | €6,489 | +€6,124 | +1,678% |
| Cash at bank and in hand | 54/58 | €2,058 | €4,523 | +€2,464 | +120% |
| Deferred charges and accrued income | 490/1 | €1,266 | €1,203 | -€64 | -5.0% |
| Total equity and liabilities | 10/49 | €210,804 | €281,954 | +€71,150 | +33.8% |
| Equity | 10/15 | €23,631 | €25,864 | +€2,233 | +9.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €18,631 | €20,864 | +€2,233 | +12.0% |
| Distributable reserves | 133 | €18,631 | €20,864 | +€2,233 | +12.0% |
| Amounts payable | 17/49 | €187,173 | €256,090 | +€68,917 | +36.8% |
| Amounts payable within one year | 42/48 | €186,918 | €255,835 | +€68,917 | +36.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €29,587 | €1,571 | -€28,016 | -94.7% |
| Suppliers | 440/4 | €29,587 | €1,571 | -€28,016 | -94.7% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €5,049 | €606 | -€4,443 | -88.0% |
| Taxes | 450/3 | €5,049 | €606 | -€4,443 | -88.0% |
| Other amounts payable | 47/48 | €152,282 | €253,657 | +€101,375 | +66.6% |
| Accrued charges and deferred income | 492/3 | €256 | €256 | = | 0.0% |
| Other operating charges | 640/8 | €569 | €585 | +€16 | +2.9% |
| Gross operating margin | 9900 | €7,073 | €3,023 | -€4,051 | -57.3% |
| Operating profit (loss) | 9901 | €6,504 | €2,437 | -€4,067 | -62.5% |
| Financial income | 75/76B | €6,787 | €1,830 | -€4,957 | -73.0% |
| Recurring financial income | 75 | €6,787 | €1,830 | -€4,957 | -73.0% |
| Financial charges | 65/66B | €6,466 | €1,428 | -€5,038 | -77.9% |
| Recurring financial charges | 65 | €6,466 | €1,428 | -€5,038 | -77.9% |
| Profit (loss) for the period before taxes | 9903 | €6,825 | €2,839 | -€3,986 | -58.4% |
| Income taxes | 67/77 | €1,365 | €606 | -€759 | -55.6% |
| Profit (loss) for the period | 9904 | €5,460 | €2,233 | -€3,227 | -59.1% |
| Profit (loss) for the period to be appropriated | 9905 | €5,460 | €2,233 | -€3,227 | -59.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.