VOGUE: 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.
VOGUE
Largest movements
- Current investments -€75,000
no longer reported in 2025 (was €75,000)
- Cash +€54,056
up €54,056 (+69.2%), from €78,117 to €132,173
mainly Current investments (+€75,000) and Depreciation (+€2,782)
- Tangible fixed assets -€2,782
down €2,782 (-30.3%), from €9,178 to €6,396
of which Plant, machinery and equipment: -€2,499
- Reserves -€23,754
down €23,754 (-18.4%), from €129,398 to €105,644
- Tax, wage and social debts -€2,243
down €2,243 (-58.1%), from €3,859 to €1,616
- Accrued charges and deferred income +€2,202
up €2,202 (+731.6%), from €301 to €2,503
- Other debts +€2,058
up €2,058 (+18.3%), from €11,239 to €13,297
- Gross operating margin -€40,846
down €40,846, from €34,184 to -€6,662
- Taxes -€13,270
no longer reported in 2025 (was €13,270)
- Staff costs -€3,395
down €3,395, from €3,237 to -€158
- Financial income +€2,514
up €2,514 (+4489.3%), from €56 to €2,570
- Depreciation +€1,202
up €1,202 (+76.1%), from €1,580 to €2,782
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 | €166,001 | €143,431 | -€22,570 | -13.6% |
| Fixed assets | 21/28 | €9,178 | €6,396 | -€2,782 | -30.3% |
| Tangible fixed assets | 22/27 | €9,178 | €6,396 | -€2,782 | -30.3% |
| Plant, machinery and equipment | 23 | €8,698 | €6,199 | -€2,499 | -28.7% |
| Furniture and vehicles | 24 | €480 | €197 | -€283 | -59.0% |
| Current assets | 29/58 | €156,823 | €137,035 | -€19,788 | -12.6% |
| Amounts receivable within one year | 40/41 | €3,644 | €4,820 | +€1,176 | +32.3% |
| Trade receivables | 40 | €2,624 | €3,215 | +€591 | +22.5% |
| Other amounts receivable | 41 | €1,020 | €1,605 | +€585 | +57.4% |
| Current investments | 50/53 | €75,000 | - | -€75,000 | |
| Cash at bank and in hand | 54/58 | €78,117 | €132,173 | +€54,056 | +69.2% |
| Deferred charges and accrued income | 490/1 | €62 | €42 | -€20 | -32.3% |
| Total equity and liabilities | 10/49 | €166,001 | €143,431 | -€22,570 | -13.6% |
| Equity | 10/15 | €149,398 | €125,644 | -€23,754 | -15.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €129,398 | €105,644 | -€23,754 | -18.4% |
| Distributable reserves | 133 | €129,398 | €105,644 | -€23,754 | -18.4% |
| Amounts payable | 17/49 | €16,603 | €17,787 | +€1,184 | +7.1% |
| Amounts payable within one year | 42/48 | €16,302 | €15,284 | -€1,018 | -6.2% |
| Trade debts | 44 | €1,204 | €371 | -€833 | -69.2% |
| Suppliers | 440/4 | €1,204 | €371 | -€833 | -69.2% |
| Taxes, remuneration and social security | 45 | €3,859 | €1,616 | -€2,243 | -58.1% |
| Taxes | 450/3 | €3,859 | €1,616 | -€2,243 | -58.1% |
| Other amounts payable | 47/48 | €11,239 | €13,297 | +€2,058 | +18.3% |
| Accrued charges and deferred income | 492/3 | €301 | €2,503 | +€2,202 | +731.6% |
| Remuneration, social security and pensions | 62 | €3,237 | -€158 | -€3,395 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,580 | €2,782 | +€1,202 | +76.1% |
| Other operating charges | 640/8 | €1,882 | €831 | -€1,051 | -55.8% |
| Gross operating margin | 9900 | €34,184 | -€6,662 | -€40,846 | |
| Operating profit (loss) | 9901 | €27,485 | -€10,117 | -€37,602 | |
| Financial income | 75/76B | €56 | €2,570 | +€2,514 | +4489.3% |
| Recurring financial income | 75 | €56 | €2,570 | +€2,514 | +4489.3% |
| Financial charges | 65/66B | €753 | €207 | -€546 | -72.5% |
| Recurring financial charges | 65 | €753 | €207 | -€546 | -72.5% |
| Profit (loss) for the period before taxes | 9903 | €26,788 | -€7,754 | -€34,542 | |
| Transfer from deferred taxes | 780 | €4,672 | - | -€4,672 | |
| Income taxes | 67/77 | €13,270 | - | -€13,270 | |
| Profit (loss) for the period | 9904 | €18,190 | -€7,754 | -€25,944 | |
| Transfer from tax-exempt reserves | 789 | €9,073 | - | -€9,073 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,263 | -€7,754 | -€35,017 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.