VOP GROUP: 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.
VOP GROUP
Largest movements
- Financial fixed assets +€31,550
up €31,550 (+13.4%), from €235,950 to €267,500
- Receivables within one year +€7,355
up €7,355 (+22.5%), from €32,645 to €40,000
- Deferred charges and accrued income -€5,014
down €5,014 (-66.1%), from €7,586 to €2,571
- Cash -€4,653
down €4,653 (-36.5%), from €12,758 to €8,106
mainly Investment in fixed assets (net) (-€31,550) and Tax, wage and social debts (-€15,614)
- Tangible fixed assets -€4,109
down €4,109 (-49.3%), from €8,328 to €4,219
of which Furniture and vehicles: -€3,685
- Other debts +€23,126
up €23,126 (+43.2%), from €53,485 to €76,611
- Tax, wage and social debts -€15,614
down €15,614 (-67.6%), from €23,095 to €7,481
of which Taxes: -€15,652
- Trade debts +€13,548
up €13,548 (+811.8%), from €1,669 to €15,217
- Reserves +€5,145
up €5,145 (+4.3%), from €118,687 to €123,831
- Gross operating margin -€29,132
down €29,132 (-56.1%), from €51,968 to €22,836
- Taxes -€10,367
down €10,367 (-80.5%), from €12,886 to €2,519
- Financial charges +€6,661
up €6,661 (+120.3%), from €5,537 to €12,198
- Financial income +€6,550
up €6,550 (+16374925.0%), from €0 to €6,550
of which Non-recurring financial income: +€6,550
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 | €297,268 | €322,396 | +€25,128 | +8.5% |
| Fixed assets | 21/28 | €244,278 | €271,719 | +€27,441 | +11.2% |
| Tangible fixed assets | 22/27 | €8,328 | €4,219 | -€4,109 | -49.3% |
| Plant, machinery and equipment | 23 | €918 | €494 | -€424 | -46.2% |
| Furniture and vehicles | 24 | €7,410 | €3,725 | -€3,685 | -49.7% |
| Financial fixed assets | 28 | €235,950 | €267,500 | +€31,550 | +13.4% |
| Current assets | 29/58 | €52,989 | €50,677 | -€2,312 | -4.4% |
| Amounts receivable within one year | 40/41 | €32,645 | €40,000 | +€7,355 | +22.5% |
| Trade receivables | 40 | €32,645 | €40,000 | +€7,355 | +22.5% |
| Cash at bank and in hand | 54/58 | €12,758 | €8,106 | -€4,653 | -36.5% |
| Deferred charges and accrued income | 490/1 | €7,586 | €2,571 | -€5,014 | -66.1% |
| Total equity and liabilities | 10/49 | €297,268 | €322,396 | +€25,128 | +8.5% |
| Equity | 10/15 | €119,787 | €124,931 | +€5,145 | +4.3% |
| Contributions | 10/11 | €1,100 | €1,100 | = | 0.0% |
| Reserves | 13 | €118,687 | €123,831 | +€5,145 | +4.3% |
| Distributable reserves | 133 | €118,687 | €123,831 | +€5,145 | +4.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €177,481 | €197,465 | +€19,984 | +11.3% |
| Amounts payable after more than one year | 17 | €81,906 | €81,250 | -€656 | -0.8% |
| Financial debts | 170/4 | €81,906 | €81,250 | -€656 | -0.8% |
| Amounts payable within one year | 42/48 | €95,575 | €116,215 | +€20,640 | +21.6% |
| Current portion of amounts payable after more than one year | 42 | €17,325 | €16,906 | -€419 | -2.4% |
| Trade debts | 44 | €1,669 | €15,217 | +€13,548 | +811.8% |
| Suppliers | 440/4 | €1,669 | €15,217 | +€13,548 | +811.8% |
| Taxes, remuneration and social security | 45 | €23,095 | €7,481 | -€15,614 | -67.6% |
| Taxes | 450/3 | €20,049 | €4,397 | -€15,652 | -78.1% |
| Remuneration and social security | 454/9 | €3,046 | €3,084 | +€38 | +1.2% |
| Other amounts payable | 47/48 | €53,485 | €76,611 | +€23,126 | +43.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,034 | €4,109 | +€75 | +1.9% |
| Other operating charges | 640/8 | €637 | €820 | +€183 | +28.7% |
| Gross operating margin | 9900 | €51,968 | €22,836 | -€29,132 | -56.1% |
| Operating profit (loss) | 9901 | €47,297 | €17,907 | -€29,389 | -62.1% |
| Financial income | 75/76B | €0 | €6,550 | +€6,550 | +16374925.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -75.0% |
| Non-recurring financial income | 76B | - | €6,550 | +€6,550 | |
| Financial charges | 65/66B | €5,537 | €12,198 | +€6,661 | +120.3% |
| Recurring financial charges | 65 | €5,537 | €12,198 | +€6,661 | +120.3% |
| Profit (loss) for the period before taxes | 9903 | €41,759 | €12,259 | -€29,500 | -70.6% |
| Income taxes | 67/77 | €12,886 | €2,519 | -€10,367 | -80.5% |
| Profit (loss) for the period | 9904 | €28,873 | €9,740 | -€19,133 | -66.3% |
| Profit (loss) for the period to be appropriated | 9905 | €28,873 | €9,740 | -€19,133 | -66.3% |
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.