VOSENERGIES: what changed
VOSENERGIES
Largest movements
- Tangible fixed assets -€22,694
down €22,694 (-62.5%), from €36,332 to €13,638
of which Furniture and vehicles: -€24,857
- Receivables within one year +€20,385
up €20,385 (+107%), from €18,972 to €39,357
of which Trade receivables: +€13,659
- Current investments -€15,710
down €15,710 (-29.6%), from €53,087 to €37,377
- Cash -€5,890
down €5,890 (-70.2%), from €8,385 to €2,495
mainly Receivables within one year (-€20,385) and Trade debts (-€9,040)
- Deferred charges and accrued income +€1,615
up €1,615 (+108%), from €1,500 to €3,115
- Trade debts -€9,040
down €9,040 (-71.2%), from €12,693 to €3,654
- Debts after one year -€6,242
no longer reported in 2025 (was €6,242)
- Current portion of long-term debt -€5,327
no longer reported in 2025 (was €5,327)
- Tax, wage and social debts +€3,406
up €3,406 (+33.5%), from €10,178 to €13,583
of which Taxes: +€4,536
- Other debts -€3,000
no longer reported in 2025 (was €3,000)
- Gross operating margin -€62,571
down €62,571 (-60.2%), from €103,863 to €41,292
- Taxes -€18,271
down €18,271 (-99.1%), from €18,434 to €164
- Other operating charges +€10,913
up €10,913 (+387%), from €2,817 to €13,730
- Staff costs +€3,368
up €3,368 (+15.5%), from €21,678 to €25,047
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €118,391 | €96,098 | -€22,294 | -18.8% |
| Fixed assets | 21/28 | €36,447 | €13,753 | -€22,694 | -62.3% |
| Tangible fixed assets | 22/27 | €36,332 | €13,638 | -€22,694 | -62.5% |
| Plant, machinery and equipment | 23 | - | €2,164 | +€2,164 | |
| Furniture and vehicles | 24 | €36,332 | €11,474 | -€24,857 | -68.4% |
| Financial fixed assets | 28 | €115 | €115 | = | 0.0% |
| Current assets | 29/58 | €81,945 | €82,345 | +€400 | +0.5% |
| Amounts receivable within one year | 40/41 | €18,972 | €39,357 | +€20,385 | +107% |
| Trade receivables | 40 | €12,031 | €25,690 | +€13,659 | +114% |
| Other amounts receivable | 41 | €6,941 | €13,667 | +€6,726 | +96.9% |
| Current investments | 50/53 | €53,087 | €37,377 | -€15,710 | -29.6% |
| Cash at bank and in hand | 54/58 | €8,385 | €2,495 | -€5,890 | -70.2% |
| Deferred charges and accrued income | 490/1 | €1,500 | €3,115 | +€1,615 | +108% |
| Total equity and liabilities | 10/49 | €118,391 | €96,098 | -€22,294 | -18.8% |
| Equity | 10/15 | €80,952 | €78,861 | -€2,091 | -2.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €30,469 | €30,469 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €469 | +€469 | |
| Reserves not available under the articles | 1311 | - | €469 | +€469 | |
| Distributable reserves | 133 | €30,469 | €30,000 | -€469 | -1.5% |
| Profit (loss) carried forward | 14 | €31,883 | €29,792 | -€2,091 | -6.6% |
| Amounts payable | 17/49 | €37,439 | €17,237 | -€20,202 | -54.0% |
| Amounts payable after more than one year | 17 | €6,242 | - | -€6,242 | |
| Financial debts | 170/4 | €6,242 | - | -€6,242 | |
| Amounts payable within one year | 42/48 | €31,198 | €17,237 | -€13,961 | -44.7% |
| Current portion of amounts payable after more than one year | 42 | €5,327 | - | -€5,327 | |
| Trade debts | 44 | €12,693 | €3,654 | -€9,040 | -71.2% |
| Suppliers | 440/4 | €12,693 | €3,654 | -€9,040 | -71.2% |
| Taxes, remuneration and social security | 45 | €10,178 | €13,583 | +€3,406 | +33.5% |
| Taxes | 450/3 | €3,457 | €7,993 | +€4,536 | +131% |
| Remuneration and social security | 454/9 | €6,720 | €5,590 | -€1,130 | -16.8% |
| Other amounts payable | 47/48 | €3,000 | - | -€3,000 | |
| Remuneration, social security and pensions | 62 | €21,678 | €25,047 | +€3,368 | +15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,033 | €4,513 | -€520 | -10.3% |
| Other operating charges | 640/8 | €2,817 | €13,730 | +€10,913 | +387% |
| Gross operating margin | 9900 | €103,863 | €41,292 | -€62,571 | -60.2% |
| Operating profit (loss) | 9901 | €74,335 | -€1,997 | -€76,332 | |
| Financial income | 75/76B | €972 | €1,542 | +€570 | +58.6% |
| Recurring financial income | 75 | €972 | €1,542 | +€570 | +58.6% |
| Financial charges | 65/66B | €769 | €1,472 | +€703 | +91.5% |
| Recurring financial charges | 65 | €381 | €1,472 | +€1,091 | +286% |
| Non-recurring financial charges | 66B | €388 | - | -€388 | |
| Profit (loss) for the period before taxes | 9903 | €74,538 | -€1,927 | -€76,465 | |
| Income taxes | 67/77 | €18,434 | €164 | -€18,271 | -99.1% |
| Profit (loss) for the period | 9904 | €56,104 | -€2,091 | -€58,195 | |
| Profit (loss) for the period to be appropriated | 9905 | €56,104 | -€2,091 | -€58,195 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.