VOS: what changed
Two financial 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.
VOS
Largest movements
- Tangible fixed assets -€36,316
down €36,316 (-3.2%), from €1.1m to €1.1m
of which Land and buildings: -€30,579
- Receivables within one year +€24,688
up €24,688 (+26.5%), from €92,995 to €117,684
of which Trade receivables: +€28,942
- Profit (loss) carried forward +€74,557
up €74,557 (+34.8%), from €214,265 to €288,822
- Debts after one year -€65,613
down €65,613 (-7.4%), from €890,236 to €824,623
of which Financial debts: -€65,899
- Trade debts -€15,333
down €15,333 (-68.7%), from €22,317 to €6,984
- Gross operating margin -€18,642
down €18,642 (-9.1%), from €204,475 to €185,833
- Depreciation -€10,649
down €10,649 (-18.8%), from €56,525 to €45,876
- Other operating charges -€9,190
down €9,190 (-78.9%), from €11,647 to €2,457
- Taxes +€4,004
up €4,004 (+14.9%), from €26,901 to €30,905
- Financial income +€2,723
up €2,723 (+311%), from €876 to €3,599
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.
Derived cash bridge
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 | €1,231,717 | €1,222,547 | -€9,170 | -0.7% |
| Fixed assets | 21/28 | €1,120,374 | €1,084,058 | -€36,316 | -3.2% |
| Tangible fixed assets | 22/27 | €1,120,374 | €1,084,058 | -€36,316 | -3.2% |
| Land and buildings | 22 | €1,080,838 | €1,050,258 | -€30,579 | -2.8% |
| Plant, machinery and equipment | 23 | €14,028 | €14,853 | +€825 | +5.9% |
| Furniture and vehicles | 24 | €25,508 | €18,946 | -€6,562 | -25.7% |
| Current assets | 29/58 | €111,343 | €138,489 | +€27,146 | +24.4% |
| Amounts receivable within one year | 40/41 | €92,995 | €117,684 | +€24,688 | +26.5% |
| Trade receivables | 40 | €22,453 | €51,395 | +€28,942 | +129% |
| Other amounts receivable | 41 | €70,543 | €66,288 | -€4,254 | -6.0% |
| Cash at bank and in hand | 54/58 | €17,845 | €19,811 | +€1,966 | +11.0% |
| Deferred charges and accrued income | 490/1 | €502 | €994 | +€492 | +98.0% |
| Total equity and liabilities | 10/49 | €1,231,717 | €1,222,547 | -€9,170 | -0.7% |
| Equity | 10/15 | €214,463 | €289,020 | +€74,557 | +34.8% |
| Contributions | 10/11 | €198 | €198 | = | 0.0% |
| Profit (loss) carried forward | 14 | €214,265 | €288,822 | +€74,557 | +34.8% |
| Amounts payable | 17/49 | €1,017,254 | €933,527 | -€83,727 | -8.2% |
| Amounts payable after more than one year | 17 | €890,236 | €824,623 | -€65,613 | -7.4% |
| Financial debts | 170/4 | €833,137 | €767,238 | -€65,899 | -7.9% |
| Other amounts payable | 178/9 | €57,099 | €57,385 | +€286 | +0.5% |
| Amounts payable within one year | 42/48 | €120,568 | €108,904 | -€11,664 | -9.7% |
| Current portion of amounts payable after more than one year | 42 | €57,589 | €62,284 | +€4,695 | +8.2% |
| Financial debts | 43 | €3,000 | €0 | -€3,000 | -100% |
| Credit institutions | 430/8 | €3,000 | €0 | -€3,000 | -100% |
| Trade debts | 44 | €22,317 | €6,984 | -€15,333 | -68.7% |
| Suppliers | 440/4 | €22,317 | €6,984 | -€15,333 | -68.7% |
| Taxes, remuneration and social security | 45 | €33,996 | €35,969 | +€1,973 | +5.8% |
| Taxes | 450/3 | €30,996 | €35,969 | +€4,973 | +16.0% |
| Remuneration and social security | 454/9 | €3,000 | €0 | -€3,000 | -100% |
| Other amounts payable | 47/48 | €3,666 | €3,666 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €6,449 | €0 | -€6,449 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,525 | €45,876 | -€10,649 | -18.8% |
| Other operating charges | 640/8 | €11,647 | €2,457 | -€9,190 | -78.9% |
| Gross operating margin | 9900 | €204,475 | €185,833 | -€18,642 | -9.1% |
| Operating profit (loss) | 9901 | €136,303 | €137,500 | +€1,197 | +0.9% |
| Financial income | 75/76B | €876 | €3,599 | +€2,723 | +311% |
| Recurring financial income | 75 | €876 | €3,599 | +€2,723 | +311% |
| Financial charges | 65/66B | €34,995 | €33,972 | -€1,022 | -2.9% |
| Recurring financial charges | 65 | €34,995 | €33,972 | -€1,022 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €102,185 | €107,128 | +€4,943 | +4.8% |
| Income taxes | 67/77 | €26,901 | €30,905 | +€4,004 | +14.9% |
| Profit (loss) for the period | 9904 | €75,284 | €76,223 | +€939 | +1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €75,284 | €76,223 | +€939 | +1.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.