VOSGES: 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.
VOSGES
Largest movements
- Cash +€88,025
up €88,025 (+169%), from €52,190 to €140,215
mainly Debts after one year (+€126,786) and Net result for the year (+€105,556)
- Current investments +€54,821
up €54,821 (+16.6%), from €330,800 to €385,620
- Tangible fixed assets -€33,820
down €33,820 (-13.4%), from €251,533 to €217,713
of which Furniture and vehicles: -€33,517
- Other debts -€136,229
down €136,229 (-98.9%), from €137,717 to €1,488
- Debts after one year +€126,786
up €126,786 (+64.8%), from €195,536 to €322,321
of which Other amounts payable: +€137,500
- Reserves +€105,500
up €105,500 (+46.5%), from €226,921 to €332,421
of which Distributable reserves: +€109,000
- Taxes +€18,037
up €18,037 (+66.6%), from €27,080 to €45,117
- Gross operating margin +€6,329
up €6,329 (+3.6%), from €177,911 to €184,239
- Depreciation +€4,108
up €4,108 (+12.5%), from €32,856 to €36,964
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 | €649,309 | €757,632 | +€108,322 | +16.7% |
| Fixed assets | 21/28 | €251,533 | €217,713 | -€33,820 | -13.4% |
| Tangible fixed assets | 22/27 | €251,533 | €217,713 | -€33,820 | -13.4% |
| Plant, machinery and equipment | 23 | €4,787 | €4,484 | -€303 | -6.3% |
| Furniture and vehicles | 24 | €246,746 | €213,229 | -€33,517 | -13.6% |
| Current assets | 29/58 | €397,777 | €539,919 | +€142,142 | +35.7% |
| Stocks and contracts in progress | 3 | €6,394 | €5,027 | -€1,367 | -21.4% |
| Stocks | 30/36 | €6,394 | €5,027 | -€1,367 | -21.4% |
| Amounts receivable within one year | 40/41 | €6,843 | €7,207 | +€364 | +5.3% |
| Trade receivables | 40 | €6,137 | €6,906 | +€769 | +12.5% |
| Other amounts receivable | 41 | €706 | €301 | -€405 | -57.4% |
| Current investments | 50/53 | €330,800 | €385,620 | +€54,821 | +16.6% |
| Cash at bank and in hand | 54/58 | €52,190 | €140,215 | +€88,025 | +169% |
| Deferred charges and accrued income | 490/1 | €1,550 | €1,850 | +€300 | +19.4% |
| Total equity and liabilities | 10/49 | €649,309 | €757,632 | +€108,322 | +16.7% |
| Equity | 10/15 | €255,172 | €360,728 | +€105,556 | +41.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €226,921 | €332,421 | +€105,500 | +46.5% |
| Tax-exempt reserves | 132 | €24,921 | €21,421 | -€3,500 | -14.0% |
| Distributable reserves | 133 | €202,000 | €311,000 | +€109,000 | +54.0% |
| Profit (loss) carried forward | 14 | €9,651 | €9,708 | +€56 | +0.6% |
| Provisions and deferred taxes | 16 | €6,230 | €5,355 | -€875 | -14.0% |
| Deferred taxes | 168 | €6,230 | €5,355 | -€875 | -14.0% |
| Amounts payable | 17/49 | €387,907 | €391,548 | +€3,641 | +0.9% |
| Amounts payable after more than one year | 17 | €195,536 | €322,321 | +€126,786 | +64.8% |
| Financial debts | 170/4 | €58,036 | €47,321 | -€10,714 | -18.5% |
| Other amounts payable | 178/9 | €137,500 | €275,000 | +€137,500 | +100% |
| Amounts payable within one year | 42/48 | €192,371 | €69,227 | -€123,145 | -64.0% |
| Current portion of amounts payable after more than one year | 42 | €10,714 | €10,714 | = | 0.0% |
| Trade debts | 44 | €32,218 | €38,539 | +€6,321 | +19.6% |
| Suppliers | 440/4 | €32,218 | €38,539 | +€6,321 | +19.6% |
| Taxes, remuneration and social security | 45 | €11,722 | €18,485 | +€6,763 | +57.7% |
| Taxes | 450/3 | €11,722 | €18,485 | +€6,763 | +57.7% |
| Other amounts payable | 47/48 | €137,717 | €1,488 | -€136,229 | -98.9% |
| Non-recurring operating income | 76A | €35,000 | - | -€35,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,856 | €36,964 | +€4,108 | +12.5% |
| Other operating charges | 640/8 | €1,669 | €1,538 | -€130 | -7.8% |
| Gross operating margin | 9900 | €177,911 | €184,239 | +€6,329 | +3.6% |
| Operating profit (loss) | 9901 | €143,387 | €145,738 | +€2,351 | +1.6% |
| Financial income | 75/76B | €5,560 | €6,508 | +€948 | +17.0% |
| Recurring financial income | 75 | €5,560 | €6,508 | +€948 | +17.0% |
| Financial charges | 65/66B | €1,709 | €2,447 | +€738 | +43.2% |
| Recurring financial charges | 65 | €1,709 | €2,447 | +€738 | +43.2% |
| Profit (loss) for the period before taxes | 9903 | €147,237 | €149,798 | +€2,561 | +1.7% |
| Transfer from deferred taxes | 780 | €770 | €875 | +€105 | +13.7% |
| Transfer to deferred taxes | 680 | €7,000 | - | -€7,000 | |
| Income taxes | 67/77 | €27,080 | €45,117 | +€18,037 | +66.6% |
| Profit (loss) for the period | 9904 | €113,927 | €105,556 | -€8,371 | -7.3% |
| Transfer from tax-exempt reserves | 789 | €3,079 | €3,500 | +€421 | +13.7% |
| Transfer to tax-exempt reserves | 689 | €28,000 | - | -€28,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €89,006 | €109,056 | +€20,050 | +22.5% |
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 19 October 2026 via checked.be.