VORTECH: 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.
VORTECH
Largest movements
- Tangible fixed assets +€12,049
up €12,049 (+119.4%), from €10,090 to €22,139
of which Other tangible fixed assets: +€8,000
- Receivables within one year -€8,313
down €8,313 (-61.2%), from €13,592 to €5,279
of which Trade receivables: -€8,013
- Cash +€5,591
up €5,591 (+14.1%), from €39,794 to €45,385
mainly Net result for the year (+€11,414) and Receivables within one year (+€8,313)
- Profit (loss) carried forward +€11,414
up €11,414 (+23.5%), from -€48,640 to -€37,226
- Current portion of long-term debt -€5,125
down €5,125 (-91.5%), from €5,604 to €479
- Other debts +€3,107
up €3,107 (+16.6%), from €18,692 to €21,800
- Gross operating margin -€2,243
down €2,243 (-10.8%), from €20,844 to €18,601
- Other operating charges +€773
up €773 (+95.7%), from €808 to €1,581
- Financial charges -€295
down €295 (-34.0%), from €866 to €571
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 | €64,824 | €74,282 | +€9,459 | +14.6% |
| Fixed assets | 21/28 | €10,591 | €22,139 | +€11,547 | +109.0% |
| Tangible fixed assets | 22/27 | €10,090 | €22,139 | +€12,049 | +119.4% |
| Land and buildings | 22 | €317 | €0 | -€317 | -100.0% |
| Furniture and vehicles | 24 | €9,773 | €14,139 | +€4,366 | +44.7% |
| Other tangible fixed assets | 26 | - | €8,000 | +€8,000 | |
| Financial fixed assets | 28 | €501 | €0 | -€501 | -100.0% |
| Current assets | 29/58 | €54,232 | €52,144 | -€2,088 | -3.9% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €13,592 | €5,279 | -€8,313 | -61.2% |
| Trade receivables | 40 | €13,240 | €5,227 | -€8,013 | -60.5% |
| Other amounts receivable | 41 | €352 | €52 | -€300 | -85.3% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €39,794 | €45,385 | +€5,591 | +14.1% |
| Deferred charges and accrued income | 490/1 | €846 | €1,479 | +€633 | +74.8% |
| Total equity and liabilities | 10/49 | €64,824 | €74,282 | +€9,459 | +14.6% |
| Equity | 10/15 | €33,960 | €45,374 | +€11,414 | +33.6% |
| Contributions | 10/11 | €82,600 | €82,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,640 | -€37,226 | +€11,414 | +23.5% |
| Amounts payable | 17/49 | €30,864 | €28,908 | -€1,955 | -6.3% |
| Amounts payable after more than one year | 17 | €479 | €0 | -€479 | -100.0% |
| Financial debts | 170/4 | €479 | €0 | -€479 | -100.0% |
| Amounts payable within one year | 42/48 | €30,385 | €28,908 | -€1,477 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | €5,604 | €479 | -€5,125 | -91.5% |
| Trade debts | 44 | €1,005 | €1,330 | +€325 | +32.4% |
| Suppliers | 440/4 | €1,005 | €1,330 | +€325 | +32.4% |
| Taxes, remuneration and social security | 45 | €5,084 | €5,300 | +€216 | +4.2% |
| Taxes | 450/3 | €3,584 | €3,800 | +€216 | +6.0% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €18,692 | €21,800 | +€3,107 | +16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,047 | €5,201 | +€154 | +3.1% |
| Other operating charges | 640/8 | €808 | €1,581 | +€773 | +95.7% |
| Gross operating margin | 9900 | €20,844 | €18,601 | -€2,243 | -10.8% |
| Operating profit (loss) | 9901 | €14,988 | €11,819 | -€3,170 | -21.1% |
| Financial income | 75/76B | €0 | €167 | +€167 | |
| Recurring financial income | 75 | €0 | €167 | +€167 | |
| Financial charges | 65/66B | €866 | €571 | -€295 | -34.0% |
| Recurring financial charges | 65 | €866 | €571 | -€295 | -34.0% |
| Profit (loss) for the period before taxes | 9903 | €14,122 | €11,414 | -€2,708 | -19.2% |
| Profit (loss) for the period | 9904 | €14,122 | €11,414 | -€2,708 | -19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €14,122 | €11,414 | -€2,708 | -19.2% |
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 28 September 2026 via checked.be.