VOSCO: 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.
VOSCO
Largest movements
- Tangible fixed assets +€114,239
up €114,239 (+1296.8%), from €8,809 to €123,048
- Cash -€81,781
down €81,781 (-91.7%), from €89,230 to €7,449
mainly Investment in fixed assets (net) (-€178,686) and Receivables within one year (-€30,978)
- Financial fixed assets +€55,000
new in 2025: €55,000
- Receivables within one year +€30,978
up €30,978 (+150.7%), from €20,557 to €51,535
of which Trade receivables: +€31,061
- Deferred charges and accrued income +€10,263
new in 2025: €10,263
- Other debts +€65,469
up €65,469 (+534.1%), from €12,258 to €77,727
- Trade debts +€62,307
up €62,307 (+2023.4%), from €3,079 to €65,386
- Tax, wage and social debts +€30,194
up €30,194 (+475.0%), from €6,357 to €36,551
of which Taxes: +€16,544
- Short-term financial debts -€19,410
no longer reported in 2025 (was €19,410)
- Current portion of long-term debt -€8,169
down €8,169 (-91.6%), from €8,918 to €749
- Gross operating margin -€10,715
down €10,715 (-51.4%), from €20,840 to €10,125
- Taxes -€2,329
no longer reported in 2025 (was €2,329)
- Depreciation +€638
up €638 (+7.2%), from €8,809 to €9,447
- Financial charges -€632
down €632 (-63.0%), from €1,003 to €371
- Other operating charges +€425
up €425 (+50.8%), from €837 to €1,261
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 | €118,596 | €247,295 | +€128,699 | +108.5% |
| Fixed assets | 21/28 | €8,809 | €178,048 | +€169,239 | +1921.2% |
| Tangible fixed assets | 22/27 | €8,809 | €123,048 | +€114,239 | +1296.8% |
| Furniture and vehicles | 24 | €8,809 | €123,048 | +€114,239 | +1296.8% |
| Financial fixed assets | 28 | - | €55,000 | +€55,000 | |
| Current assets | 29/58 | €109,787 | €69,247 | -€40,540 | -36.9% |
| Amounts receivable within one year | 40/41 | €20,557 | €51,535 | +€30,978 | +150.7% |
| Trade receivables | 40 | €16,803 | €47,864 | +€31,061 | +184.9% |
| Other amounts receivable | 41 | €3,754 | €3,671 | -€83 | -2.2% |
| Cash at bank and in hand | 54/58 | €89,230 | €7,449 | -€81,781 | -91.7% |
| Deferred charges and accrued income | 490/1 | - | €10,263 | +€10,263 | |
| Total equity and liabilities | 10/49 | €118,596 | €247,295 | +€128,699 | +108.5% |
| Equity | 10/15 | €67,825 | €66,883 | -€942 | -1.4% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €55,825 | €54,883 | -€942 | -1.7% |
| Distributable reserves | 133 | €55,825 | €54,883 | -€942 | -1.7% |
| Amounts payable | 17/49 | €50,770 | €180,412 | +€129,642 | +255.3% |
| Amounts payable after more than one year | 17 | €749 | - | -€749 | |
| Financial debts | 170/4 | €749 | - | -€749 | |
| Amounts payable within one year | 42/48 | €50,022 | €180,412 | +€130,390 | +260.7% |
| Current portion of amounts payable after more than one year | 42 | €8,918 | €749 | -€8,169 | -91.6% |
| Financial debts | 43 | €19,410 | - | -€19,410 | |
| Other loans | 439 | €19,410 | - | -€19,410 | |
| Trade debts | 44 | €3,079 | €65,386 | +€62,307 | +2023.4% |
| Suppliers | 440/4 | €3,079 | €65,386 | +€62,307 | +2023.4% |
| Taxes, remuneration and social security | 45 | €6,357 | €36,551 | +€30,194 | +475.0% |
| Taxes | 450/3 | €6,357 | €22,901 | +€16,544 | +260.2% |
| Remuneration and social security | 454/9 | - | €13,650 | +€13,650 | |
| Other amounts payable | 47/48 | €12,258 | €77,727 | +€65,469 | +534.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,809 | €9,447 | +€638 | +7.2% |
| Other operating charges | 640/8 | €837 | €1,261 | +€425 | +50.8% |
| Gross operating margin | 9900 | €20,840 | €10,125 | -€10,715 | -51.4% |
| Operating profit (loss) | 9901 | €11,194 | -€583 | -€11,778 | |
| Financial income | 75/76B | - | €12 | +€12 | |
| Recurring financial income | 75 | - | €12 | +€12 | |
| Financial charges | 65/66B | €1,003 | €371 | -€632 | -63.0% |
| Recurring financial charges | 65 | €1,003 | €371 | -€632 | -63.0% |
| Profit (loss) for the period before taxes | 9903 | €10,192 | -€942 | -€11,134 | |
| Income taxes | 67/77 | €2,329 | - | -€2,329 | |
| Profit (loss) for the period | 9904 | €7,863 | -€942 | -€8,805 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,863 | -€942 | -€8,805 |
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 4 October 2026 via checked.be.