VOORMAN: 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.
VOORMAN
Largest movements
- Receivables within one year -€11,676
down €11,676 (-94.2%), from €12,399 to €723
of which Trade receivables: -€11,652
- Cash +€8,671
up €8,671 (+29.9%), from €29,007 to €37,678
mainly Other debts (+€92,956) and Net result for the year (+€57,562)
- Other debts +€92,956
up €92,956 (+220.2%), from €42,218 to €135,173
- Profit (loss) carried forward -€72,509
down €72,509 (-55.7%), from €130,070 to €57,562
- Debts after one year -€39,543
down €39,543 (-9.1%), from €434,535 to €394,991
- Tax, wage and social debts +€10,459
up €10,459 (+31.0%), from €33,685 to €44,144
- Gross operating margin +€21,747
up €21,747 (+24.0%), from €90,630 to €112,377
- Financial charges +€4,564
up €4,564 (+28.2%), from €16,170 to €20,735
- Taxes +€4,518
up €4,518 (+28.5%), from €15,868 to €20,387
- Depreciation -€1,609
down €1,609 (-11.1%), from €14,448 to €12,839
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 | €687,117 | €677,195 | -€9,922 | -1.4% |
| Fixed assets | 21/28 | €643,184 | €637,805 | -€5,379 | -0.8% |
| Tangible fixed assets | 22/27 | €63,184 | €57,805 | -€5,379 | -8.5% |
| Plant, machinery and equipment | 23 | €4,680 | - | -€4,680 | |
| Furniture and vehicles | 24 | €6,256 | €430 | -€5,826 | -93.1% |
| Other tangible fixed assets | 26 | €52,248 | €57,375 | +€5,127 | +9.8% |
| Financial fixed assets | 28 | €580,000 | €580,000 | = | 0.0% |
| Current assets | 29/58 | €43,933 | €39,390 | -€4,543 | -10.3% |
| Amounts receivable within one year | 40/41 | €12,399 | €723 | -€11,676 | -94.2% |
| Trade receivables | 40 | €12,375 | €723 | -€11,652 | -94.2% |
| Other amounts receivable | 41 | €24 | - | -€24 | |
| Cash at bank and in hand | 54/58 | €29,007 | €37,678 | +€8,671 | +29.9% |
| Deferred charges and accrued income | 490/1 | €2,527 | €989 | -€1,538 | -60.9% |
| Total equity and liabilities | 10/49 | €687,117 | €677,195 | -€9,922 | -1.4% |
| Equity | 10/15 | €133,370 | €60,862 | -€72,509 | -54.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €300 | €300 | = | 0.0% |
| Distributable reserves | 133 | €300 | €300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €130,070 | €57,562 | -€72,509 | -55.7% |
| Amounts payable | 17/49 | €553,747 | €616,334 | +€62,586 | +11.3% |
| Amounts payable after more than one year | 17 | €434,535 | €394,991 | -€39,543 | -9.1% |
| Financial debts | 170/4 | €434,535 | €394,991 | -€39,543 | -9.1% |
| Amounts payable within one year | 42/48 | €119,147 | €221,275 | +€102,129 | +85.7% |
| Current portion of amounts payable after more than one year | 42 | €37,987 | €39,543 | +€1,556 | +4.1% |
| Trade debts | 44 | €5,256 | €2,414 | -€2,842 | -54.1% |
| Suppliers | 440/4 | €5,256 | €2,414 | -€2,842 | -54.1% |
| Taxes, remuneration and social security | 45 | €33,685 | €44,144 | +€10,459 | +31.0% |
| Taxes | 450/3 | €33,685 | €44,144 | +€10,459 | +31.0% |
| Other amounts payable | 47/48 | €42,218 | €135,173 | +€92,956 | +220.2% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,448 | €12,839 | -€1,609 | -11.1% |
| Other operating charges | 640/8 | €1,112 | €855 | -€257 | -23.1% |
| Gross operating margin | 9900 | €90,630 | €112,377 | +€21,747 | +24.0% |
| Operating profit (loss) | 9901 | €75,071 | €98,683 | +€23,612 | +31.5% |
| Financial income | 75/76B | €0 | €0 | +€0 | +87.5% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +87.5% |
| Financial charges | 65/66B | €16,170 | €20,735 | +€4,564 | +28.2% |
| Recurring financial charges | 65 | €16,170 | €20,735 | +€4,564 | +28.2% |
| Profit (loss) for the period before taxes | 9903 | €58,900 | €77,948 | +€19,048 | +32.3% |
| Income taxes | 67/77 | €15,868 | €20,387 | +€4,518 | +28.5% |
| Profit (loss) for the period | 9904 | €43,032 | €57,562 | +€14,530 | +33.8% |
| Profit (loss) for the period to be appropriated | 9905 | €43,032 | €57,562 | +€14,530 | +33.8% |
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 8 October 2026 via checked.be.