VOTECH: 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.
VOTECH
Largest movements
- Tangible fixed assets -€22,492
down €22,492 (-9.0%), from €250,261 to €227,768
of which Land and buildings: -€18,793
- Receivables within one year +€5,660
up €5,660 (+7.2%), from €79,110 to €84,770
of which Other amounts receivable: +€5,691
- Debts after one year -€23,105
down €23,105 (-33.2%), from €69,689 to €46,584
- Reserves +€11,676
up €11,676 (+5.4%), from €218,110 to €229,786
of which Distributable reserves: +€11,676
- Current portion of long-term debt -€6,588
down €6,588 (-22.2%), from €29,693 to €23,105
- Short-term financial debts +€4,551
new in 2025: €4,551
- Trade debts -€3,650
down €3,650 (-37.2%), from €9,801 to €6,151
- Gross operating margin +€29,682
up €29,682 (+383.1%), from €7,747 to €37,430
- Financial charges -€4,630
down €4,630 (-45.8%), from €10,116 to €5,486
of which Non-recurring financial charges: -€3,093
- Other operating charges +€2,295
up €2,295 (+935.7%), from €245 to €2,540
- Financial income +€1,780
up €1,780 (+56.5%), from €3,149 to €4,929
of which Financial income: +€1,780
- Taxes +€1,202
up €1,202 (+846.1%), from €142 to €1,344
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 | €344,139 | €327,387 | -€16,751 | -4.9% |
| Fixed assets | 21/28 | €251,911 | €229,418 | -€22,492 | -8.9% |
| Tangible fixed assets | 22/27 | €250,261 | €227,768 | -€22,492 | -9.0% |
| Land and buildings | 22 | €239,129 | €220,336 | -€18,793 | -7.9% |
| Plant, machinery and equipment | 23 | €9,952 | €7,432 | -€2,520 | -25.3% |
| Furniture and vehicles | 24 | €1,179 | €0 | -€1,179 | -100.0% |
| Financial fixed assets | 28 | €1,650 | €1,650 | = | 0.0% |
| Current assets | 29/58 | €92,228 | €97,969 | +€5,741 | +6.2% |
| Stocks and contracts in progress | 3 | €5,720 | €5,170 | -€550 | -9.6% |
| Stocks | 30/36 | €5,720 | €5,170 | -€550 | -9.6% |
| Amounts receivable within one year | 40/41 | €79,110 | €84,770 | +€5,660 | +7.2% |
| Trade receivables | 40 | €10,563 | €10,532 | -€30 | -0.3% |
| Other amounts receivable | 41 | €68,547 | €74,238 | +€5,691 | +8.3% |
| Cash at bank and in hand | 54/58 | €4,682 | €2,787 | -€1,895 | -40.5% |
| Deferred charges and accrued income | 490/1 | €2,716 | €5,242 | +€2,526 | +93.0% |
| Total equity and liabilities | 10/49 | €344,139 | €327,387 | -€16,751 | -4.9% |
| Equity | 10/15 | €230,510 | €242,186 | +€11,676 | +5.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €218,110 | €229,786 | +€11,676 | +5.4% |
| Tax-exempt reserves | 132 | €6,589 | €6,589 | = | 0.0% |
| Distributable reserves | 133 | €211,521 | €223,197 | +€11,676 | +5.5% |
| Amounts payable | 17/49 | €113,629 | €85,201 | -€28,427 | -25.0% |
| Amounts payable after more than one year | 17 | €69,689 | €46,584 | -€23,105 | -33.2% |
| Financial debts | 170/4 | €69,689 | €46,584 | -€23,105 | -33.2% |
| Amounts payable within one year | 42/48 | €43,859 | €38,535 | -€5,324 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €29,693 | €23,105 | -€6,588 | -22.2% |
| Financial debts | 43 | - | €4,551 | +€4,551 | |
| Credit institutions | 430/8 | - | €4,551 | +€4,551 | |
| Trade debts | 44 | €9,801 | €6,151 | -€3,650 | -37.2% |
| Suppliers | 440/4 | €9,801 | €6,151 | -€3,650 | -37.2% |
| Taxes, remuneration and social security | 45 | €4,365 | €4,728 | +€363 | +8.3% |
| Taxes | 450/3 | €2,824 | €4,728 | +€1,904 | +67.4% |
| Remuneration and social security | 454/9 | €1,541 | €0 | -€1,541 | -100.0% |
| Accrued charges and deferred income | 492/3 | €80 | €82 | +€2 | +2.4% |
| Non-recurring operating income | 76A | - | €1,671 | +€1,671 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,969 | €21,313 | -€656 | -3.0% |
| Other operating charges | 640/8 | €245 | €2,540 | +€2,295 | +935.7% |
| Non-recurring operating charges | 66A | €2,590 | €0 | -€2,590 | -100.0% |
| Gross operating margin | 9900 | €7,747 | €37,430 | +€29,682 | +383.1% |
| Operating profit (loss) | 9901 | -€17,057 | €13,577 | +€30,634 | |
| Financial income | 75/76B | €3,149 | €4,929 | +€1,780 | +56.5% |
| Recurring financial income | 75 | €3,149 | €4,929 | +€1,780 | +56.5% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €10,116 | €5,486 | -€4,630 | -45.8% |
| Recurring financial charges | 65 | €7,024 | €5,486 | -€1,538 | -21.9% |
| Non-recurring financial charges | 66B | €3,093 | €0 | -€3,093 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€24,025 | €13,020 | +€37,045 | |
| Income taxes | 67/77 | €142 | €1,344 | +€1,202 | +846.1% |
| Profit (loss) for the period | 9904 | -€24,167 | €11,676 | +€35,843 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,167 | €11,676 | +€35,843 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.