VOSKES: 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.
What changed
VOSKES
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€90
2024 · €1,783-€1,693
Equity
€117,752
2024 · €117,662+€90
Cash
€63,540
2024 · €64,681-€1,140
Balance sheet total
€928,630
2024 · €159,591+€769,040
Largest movements
Assets
- Financial fixed assets +€770,000
new in 2025: €770,000
Equity and liabilities
- Other debts +€771,131
up €771,131 (+3,630%), from €21,242 to €792,372
Income statement
- Financial charges +€6,572
up €6,572 (+352%), from €1,868 to €8,440
- Gross operating margin +€3,646
up €3,646 (+30.4%), from €12,003 to €15,648
- Taxes -€930
down €930, from €731 to -€199
- Financial income +€397
up €397 (+305,515%), from €0 to €397
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.
Result 2024
€1,783
Gross operating margin
+€3,646
Other operating charges
-€94
Financial income
+€397
Financial charges
-€6,572
Taxes
+€930
Result 2025
€90
raises the resultlowers the result
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.
From operations
+€774,546
Investment
-€770,000
Financing
-€5,687
Cash 2024
€64,681
From operations (derived)
+€774,546
Net result for the year
+€90
Depreciation
+€4,555
Receivables within one year
-€4,886
Smaller working-capital items
-€581
Trade debts
-€2,479
Other debts
+€771,131
Accrued charges and deferred income
+€6,715
Investment (derived)
-€770,000
Investment in fixed assets (net)
-€770,000
Financing
-€5,687
Debts after one year
-€2,866
Current portion of long-term debt
-€2,821
Cash 2025
€63,540
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €159,591 | €928,630 | +€769,040 | +482% |
| Fixed assets | 21/28 | €94,759 | €860,204 | +€765,445 | +808% |
| Tangible fixed assets | 22/27 | €94,759 | €90,204 | -€4,555 | -4.8% |
| Land and buildings | 22 | €94,759 | €90,204 | -€4,555 | -4.8% |
| Financial fixed assets | 28 | - | €770,000 | +€770,000 | |
| Current assets | 29/58 | €64,831 | €68,426 | +€3,595 | +5.5% |
| Amounts receivable within one year | 40/41 | - | €4,886 | +€4,886 | |
| Trade receivables | 40 | - | €3,686 | +€3,686 | |
| Other amounts receivable | 41 | - | €1,200 | +€1,200 | |
| Current investments | 50/53 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €64,681 | €63,540 | -€1,140 | -1.8% |
| Deferred charges and accrued income | 490/1 | €150 | €0 | -€150 | -100% |
| Total equity and liabilities | 10/49 | €159,591 | €928,630 | +€769,040 | +482% |
| Equity | 10/15 | €117,662 | €117,752 | +€90 | +0.1% |
| Contributions | 10/11 | €29,747 | €29,747 | = | 0.0% |
| Reserves | 13 | €87,914 | €88,005 | +€90 | +0.1% |
| Distributable reserves | 133 | €87,914 | €88,005 | +€90 | +0.1% |
| Amounts payable | 17/49 | €41,929 | €810,878 | +€768,949 | +1,834% |
| Amounts payable after more than one year | 17 | €2,866 | €0 | -€2,866 | -100% |
| Financial debts | 170/4 | €2,866 | €0 | -€2,866 | -100% |
| Amounts payable within one year | 42/48 | €37,448 | €802,548 | +€765,100 | +2,043% |
| Current portion of amounts payable after more than one year | 42 | €5,686 | €2,865 | -€2,821 | -49.6% |
| Trade debts | 44 | €9,790 | €7,311 | -€2,479 | -25.3% |
| Suppliers | 440/4 | €9,790 | €7,311 | -€2,479 | -25.3% |
| Taxes, remuneration and social security | 45 | €731 | €0 | -€731 | -100% |
| Taxes | 450/3 | €731 | €0 | -€731 | -100% |
| Other amounts payable | 47/48 | €21,242 | €792,372 | +€771,131 | +3,630% |
| Accrued charges and deferred income | 492/3 | €1,615 | €8,330 | +€6,715 | +416% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,555 | €4,555 | = | 0.0% |
| Other operating charges | 640/8 | €3,064 | €3,159 | +€94 | +3.1% |
| Gross operating margin | 9900 | €12,003 | €15,648 | +€3,646 | +30.4% |
| Operating profit (loss) | 9901 | €4,383 | €7,934 | +€3,551 | +81.0% |
| Financial income | 75/76B | €0 | €397 | +€397 | +305,515% |
| Recurring financial income | 75 | €0 | €397 | +€397 | +305,515% |
| Financial charges | 65/66B | €1,868 | €8,440 | +€6,572 | +352% |
| Recurring financial charges | 65 | €1,868 | €8,440 | +€6,572 | +352% |
| Profit (loss) for the period before taxes | 9903 | €2,515 | -€109 | -€2,623 | |
| Income taxes | 67/77 | €731 | -€199 | -€930 | |
| Profit (loss) for the period | 9904 | €1,783 | €90 | -€1,693 | -94.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,783 | €90 | -€1,693 | -94.9% |
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 15 October 2026 via checked.be.