VOMA: 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.
VOMA
Largest movements
- Cash +€89,503
up €89,503 (+63.2%), from €141,639 to €231,142
mainly Net result for the year (+€75,968) and Current investments (+€34,948)
- Current investments -€34,948
down €34,948 (-17.7%), from €198,000 to €163,052
- Receivables within one year +€7,227
up €7,227 (+33.8%), from €21,402 to €28,629
of which Other amounts receivable: +€5,742
- Reserves +€62,736
up €62,736 (+21.7%), from €288,636 to €351,372
of which Distributable reserves: +€62,736
- Gross operating margin -€52,621
down €52,621 (-32.7%), from €160,778 to €108,157
- Taxes -€17,489
down €17,489 (-36.8%), from €47,537 to €30,048
- Financial income +€4,935
up €4,935 (+461.1%), from €1,070 to €6,005
- Financial charges +€3,852
up €3,852 (+2668.6%), from €144 to €3,997
- Depreciation +€1,655
up €1,655 (+87.0%), from €1,902 to €3,557
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 | €376,556 | €439,787 | +€63,231 | +16.8% |
| Fixed assets | 21/28 | €11,372 | €12,770 | +€1,399 | +12.3% |
| Tangible fixed assets | 22/27 | €11,372 | €12,770 | +€1,399 | +12.3% |
| Plant, machinery and equipment | 23 | €2,738 | €1,686 | -€1,052 | -38.4% |
| Furniture and vehicles | 24 | €8,634 | €11,085 | +€2,451 | +28.4% |
| Current assets | 29/58 | €365,184 | €427,016 | +€61,832 | +16.9% |
| Amounts receivable within one year | 40/41 | €21,402 | €28,629 | +€7,227 | +33.8% |
| Trade receivables | 40 | €20,386 | €21,871 | +€1,485 | +7.3% |
| Other amounts receivable | 41 | €1,015 | €6,758 | +€5,742 | +565.5% |
| Current investments | 50/53 | €198,000 | €163,052 | -€34,948 | -17.7% |
| Cash at bank and in hand | 54/58 | €141,639 | €231,142 | +€89,503 | +63.2% |
| Deferred charges and accrued income | 490/1 | €4,144 | €4,193 | +€49 | +1.2% |
| Total equity and liabilities | 10/49 | €376,556 | €439,787 | +€63,231 | +16.8% |
| Equity | 10/15 | €333,133 | €395,869 | +€62,736 | +18.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €288,636 | €351,372 | +€62,736 | +21.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €286,776 | €349,512 | +€62,736 | +21.9% |
| Profit (loss) carried forward | 14 | €32,097 | €32,097 | = | 0.0% |
| Amounts payable | 17/49 | €43,422 | €43,917 | +€495 | +1.1% |
| Amounts payable within one year | 42/48 | €43,422 | €43,917 | +€495 | +1.1% |
| Trade debts | 44 | €1,391 | €1,506 | +€115 | +8.3% |
| Suppliers | 440/4 | €1,391 | €1,506 | +€115 | +8.3% |
| Taxes, remuneration and social security | 45 | €24,217 | €22,715 | -€1,503 | -6.2% |
| Taxes | 450/3 | €24,217 | €22,715 | -€1,503 | -6.2% |
| Other amounts payable | 47/48 | €17,814 | €19,696 | +€1,882 | +10.6% |
| Non-recurring operating income | 76A | €10,000 | - | -€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,902 | €3,557 | +€1,655 | +87.0% |
| Other operating charges | 640/8 | €577 | €593 | +€16 | +2.8% |
| Gross operating margin | 9900 | €160,778 | €108,157 | -€52,621 | -32.7% |
| Operating profit (loss) | 9901 | €158,300 | €104,007 | -€54,292 | -34.3% |
| Financial income | 75/76B | €1,070 | €6,005 | +€4,935 | +461.1% |
| Recurring financial income | 75 | €1,070 | €6,005 | +€4,935 | +461.1% |
| Financial charges | 65/66B | €144 | €3,997 | +€3,852 | +2668.6% |
| Recurring financial charges | 65 | €144 | €3,997 | +€3,852 | +2668.6% |
| Profit (loss) for the period before taxes | 9903 | €159,226 | €106,016 | -€53,209 | -33.4% |
| Income taxes | 67/77 | €47,537 | €30,048 | -€17,489 | -36.8% |
| Profit (loss) for the period | 9904 | €111,689 | €75,968 | -€35,721 | -32.0% |
| Profit (loss) for the period to be appropriated | 9905 | €111,689 | €75,968 | -€35,721 | -32.0% |
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 5 October 2026 via checked.be.