Votect: 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.
Votect
Largest movements
- Receivables within one year +€293,705
up €293,705 (+132.8%), from €221,122 to €514,826
of which Trade receivables: +€308,187
- Tangible fixed assets +€191,941
up €191,941 (+70.9%), from €270,668 to €462,609
of which Other tangible fixed assets: +€126,098
- Receivables after one year -€115,000
down €115,000 (-100.0%), from €115,000 to €0
- Deferred charges and accrued income +€93,145
up €93,145 (+1496.4%), from €6,225 to €99,369
- Cash +€61,297
up €61,297 (+265.5%), from €23,086 to €84,383
mainly Trade debts (+€345,894) and Debts after one year (+€226,771)
- Trade debts +€345,894
up €345,894 (+160.4%), from €215,654 to €561,548
- Debts after one year +€226,771
up €226,771 (+215.6%), from €105,163 to €331,935
- Other debts +€138,888
up €138,888 (+54.3%), from €255,723 to €394,610
- Profit (loss) carried forward -€104,258
new in 2025: -€104,258
- Accrued charges and deferred income -€48,195
down €48,195 (-95.2%), from €50,600 to €2,405
- Gross operating margin +€203,628
up €203,628 (+52.7%), from €386,391 to €590,019
- Financial charges +€132,309
up €132,309 (+556.6%), from €23,771 to €156,080
of which Non-recurring financial charges: +€130,000
- Write-downs +€105,069
up €105,069 (+1500.1%), from €7,004 to €112,073
- Staff costs +€67,352
up €67,352 (+25.1%), from €268,707 to €336,059
- Taxes -€16,292
down €16,292, from €13,974 to -€2,317
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 | €1,057,767 | €1,586,073 | +€528,306 | +49.9% |
| Fixed assets | 21/28 | €637,335 | €823,609 | +€186,275 | +29.2% |
| Intangible fixed assets | 21 | €94,266 | €81,266 | -€13,000 | -13.8% |
| Tangible fixed assets | 22/27 | €270,668 | €462,609 | +€191,941 | +70.9% |
| Plant, machinery and equipment | 23 | €59,516 | €126,875 | +€67,359 | +113.2% |
| Furniture and vehicles | 24 | €5,849 | €4,333 | -€1,516 | -25.9% |
| Other tangible fixed assets | 26 | €205,303 | €331,401 | +€126,098 | +61.4% |
| Financial fixed assets | 28 | €272,401 | €279,735 | +€7,334 | +2.7% |
| Current assets | 29/58 | €420,433 | €762,464 | +€342,031 | +81.4% |
| Amounts receivable after more than one year | 29 | €115,000 | €0 | -€115,000 | -100.0% |
| Other amounts receivable | 291 | €115,000 | €0 | -€115,000 | -100.0% |
| Stocks and contracts in progress | 3 | €55,000 | €63,885 | +€8,885 | +16.2% |
| Stocks | 30/36 | €55,000 | €63,885 | +€8,885 | +16.2% |
| Amounts receivable within one year | 40/41 | €221,122 | €514,826 | +€293,705 | +132.8% |
| Trade receivables | 40 | €139,589 | €447,775 | +€308,187 | +220.8% |
| Other amounts receivable | 41 | €81,533 | €67,051 | -€14,482 | -17.8% |
| Cash at bank and in hand | 54/58 | €23,086 | €84,383 | +€61,297 | +265.5% |
| Deferred charges and accrued income | 490/1 | €6,225 | €99,369 | +€93,145 | +1496.4% |
| Total equity and liabilities | 10/49 | €1,057,767 | €1,586,073 | +€528,306 | +49.9% |
| Equity | 10/15 | €273,963 | €169,705 | -€104,258 | -38.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €255,363 | €255,363 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €253,503 | €253,503 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€104,258 | -€104,258 | |
| Amounts payable | 17/49 | €783,804 | €1,416,368 | +€632,564 | +80.7% |
| Amounts payable after more than one year | 17 | €105,163 | €331,935 | +€226,771 | +215.6% |
| Financial debts | 170/4 | €105,163 | €331,935 | +€226,771 | +215.6% |
| Amounts payable within one year | 42/48 | €628,040 | €1,082,028 | +€453,988 | +72.3% |
| Current portion of amounts payable after more than one year | 42 | €108,063 | €86,985 | -€21,078 | -19.5% |
| Financial debts | 43 | - | €3,145 | +€3,145 | |
| Credit institutions | 430/8 | - | €3,145 | +€3,145 | |
| Trade debts | 44 | €215,654 | €561,548 | +€345,894 | +160.4% |
| Suppliers | 440/4 | €215,654 | €561,548 | +€345,894 | +160.4% |
| Advances received on contracts in progress | 46 | - | €8,820 | +€8,820 | |
| Taxes, remuneration and social security | 45 | €48,601 | €26,921 | -€21,680 | -44.6% |
| Taxes | 450/3 | €25,783 | €1,427 | -€24,356 | -94.5% |
| Remuneration and social security | 454/9 | €22,817 | €25,493 | +€2,676 | +11.7% |
| Other amounts payable | 47/48 | €255,723 | €394,610 | +€138,888 | +54.3% |
| Accrued charges and deferred income | 492/3 | €50,600 | €2,405 | -€48,195 | -95.2% |
| Remuneration, social security and pensions | 62 | €268,707 | €336,059 | +€67,352 | +25.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,074 | €57,048 | +€8,974 | +18.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,004 | €112,073 | +€105,069 | +1500.1% |
| Other operating charges | 640/8 | €2,703 | €10,439 | +€7,735 | +286.1% |
| Non-recurring operating charges | 66A | - | €25,164 | +€25,164 | |
| Gross operating margin | 9900 | €386,391 | €590,019 | +€203,628 | +52.7% |
| Operating profit (loss) | 9901 | €59,903 | €49,237 | -€10,666 | -17.8% |
| Financial income | 75/76B | €54 | €268 | +€213 | +391.9% |
| Recurring financial income | 75 | €54 | €268 | +€213 | +391.9% |
| Financial charges | 65/66B | €23,771 | €156,080 | +€132,309 | +556.6% |
| Recurring financial charges | 65 | €23,771 | €26,080 | +€2,309 | +9.7% |
| Non-recurring financial charges | 66B | - | €130,000 | +€130,000 | |
| Profit (loss) for the period before taxes | 9903 | €36,187 | -€106,575 | -€142,762 | |
| Income taxes | 67/77 | €13,974 | -€2,317 | -€16,292 | |
| Profit (loss) for the period | 9904 | €22,212 | -€104,258 | -€126,470 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,212 | -€104,258 | -€126,470 |
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 7 October 2026 via checked.be.