VOTOREC MACHINERY: what changed
VOTOREC MACHINERY
Largest movements
- Receivables within one year -€61,924
down €61,924 (-40.4%), from €153,216 to €91,293
of which Trade receivables: -€48,192
- Stocks and contracts +€45,005
up €45,005 (+955%), from €4,714 to €49,719
of which Contracts in progress: +€45,060
- Cash -€43,981
down €43,981 (-100.0%), from €43,983 to €2
mainly Net result for the year (-€78,152) and Stocks and contracts (-€45,005)
- Tangible fixed assets -€18,477
down €18,477 (-18.5%), from €100,141 to €81,664
of which Furniture and vehicles: -€11,450
- Deferred charges and accrued income +€10,236
up €10,236 (+225%), from €4,558 to €14,794
- Reserves -€51,010
down €51,010 (-46.1%), from €110,711 to €59,702
- Debts after one year -€40,424
down €40,424 (-56.9%), from €71,070 to €30,646
- Short-term financial debts +€29,758
new in 2025: €29,758
- Profit (loss) carried forward -€27,142
down €27,142, from €0 to -€27,142
- Other debts -€18,659
down €18,659 (-100%), from €18,659 to €0
- Staff costs +€105,076
up €105,076 (+101%), from €104,025 to €209,100
- Gross operating margin -€60,719
down €60,719 (-27.2%), from €223,120 to €162,401
- Taxes -€18,016
down €18,016 (-98.0%), from €18,380 to €364
- Depreciation -€3,583
down €3,583 (-16.2%), from €22,061 to €18,477
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 | €306,613 | €237,472 | -€69,141 | -22.5% |
| Fixed assets | 21/28 | €100,141 | €81,664 | -€18,477 | -18.5% |
| Tangible fixed assets | 22/27 | €100,141 | €81,664 | -€18,477 | -18.5% |
| Plant, machinery and equipment | 23 | €24,893 | €18,936 | -€5,957 | -23.9% |
| Furniture and vehicles | 24 | €63,606 | €52,155 | -€11,450 | -18.0% |
| Other tangible fixed assets | 26 | €11,643 | €10,572 | -€1,071 | -9.2% |
| Current assets | 29/58 | €206,472 | €155,808 | -€50,664 | -24.5% |
| Stocks and contracts in progress | 3 | €4,714 | €49,719 | +€45,005 | +955% |
| Stocks | 30/36 | €4,714 | €4,659 | -€55 | -1.2% |
| Contracts in progress | 37 | - | €45,060 | +€45,060 | |
| Amounts receivable within one year | 40/41 | €153,216 | €91,293 | -€61,924 | -40.4% |
| Trade receivables | 40 | €136,836 | €88,644 | -€48,192 | -35.2% |
| Other amounts receivable | 41 | €16,380 | €2,649 | -€13,731 | -83.8% |
| Cash at bank and in hand | 54/58 | €43,983 | €2 | -€43,981 | -100.0% |
| Deferred charges and accrued income | 490/1 | €4,558 | €14,794 | +€10,236 | +225% |
| Total equity and liabilities | 10/49 | €306,613 | €237,472 | -€69,141 | -22.5% |
| Equity | 10/15 | €126,211 | €48,059 | -€78,152 | -61.9% |
| Contributions | 10/11 | €15,500 | €15,500 | = | 0.0% |
| Reserves | 13 | €110,711 | €59,702 | -€51,010 | -46.1% |
| Distributable reserves | 133 | €110,711 | €59,702 | -€51,010 | -46.1% |
| Profit (loss) carried forward | 14 | €0 | -€27,142 | -€27,142 | |
| Amounts payable | 17/49 | €180,402 | €189,413 | +€9,011 | +5.0% |
| Amounts payable after more than one year | 17 | €71,070 | €30,646 | -€40,424 | -56.9% |
| Financial debts | 170/4 | €71,070 | €30,646 | -€40,424 | -56.9% |
| Amounts payable within one year | 42/48 | €109,331 | €158,767 | +€49,435 | +45.2% |
| Current portion of amounts payable after more than one year | 42 | €42,352 | €40,424 | -€1,927 | -4.6% |
| Financial debts | 43 | - | €29,758 | +€29,758 | |
| Credit institutions | 430/8 | - | €29,758 | +€29,758 | |
| Trade debts | 44 | €22,455 | €40,198 | +€17,743 | +79.0% |
| Suppliers | 440/4 | €22,455 | €40,198 | +€17,743 | +79.0% |
| Advances received on contracts in progress | 46 | - | €12,600 | +€12,600 | |
| Taxes, remuneration and social security | 45 | €25,866 | €35,787 | +€9,921 | +38.4% |
| Taxes | 450/3 | €11,876 | €12,054 | +€179 | +1.5% |
| Remuneration and social security | 454/9 | €13,990 | €23,732 | +€9,742 | +69.6% |
| Other amounts payable | 47/48 | €18,659 | €0 | -€18,659 | -100% |
| Remuneration, social security and pensions | 62 | €104,025 | €209,100 | +€105,076 | +101% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,061 | €18,477 | -€3,583 | -16.2% |
| Other operating charges | 640/8 | €2,983 | €4,906 | +€1,923 | +64.5% |
| Non-recurring operating charges | 66A | €0 | €2,855 | +€2,855 | |
| Gross operating margin | 9900 | €223,120 | €162,401 | -€60,719 | -27.2% |
| Operating profit (loss) | 9901 | €94,052 | -€72,938 | -€166,989 | |
| Financial income | 75/76B | €230 | €267 | +€37 | +15.9% |
| Recurring financial income | 75 | €230 | €267 | +€37 | +15.9% |
| Financial charges | 65/66B | €4,892 | €5,117 | +€225 | +4.6% |
| Recurring financial charges | 65 | €4,892 | €5,117 | +€225 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | €89,390 | -€77,788 | -€167,178 | |
| Income taxes | 67/77 | €18,380 | €364 | -€18,016 | -98.0% |
| Profit (loss) for the period | 9904 | €71,010 | -€78,152 | -€149,162 | |
| Profit (loss) for the period to be appropriated | 9905 | €71,010 | -€78,152 | -€149,162 |
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 2 November 2026 via checked.be.