VOTRON-CONSTRUCTION: 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.
VOTRON-CONSTRUCTION
Largest movements
- Tangible fixed assets -€26,562
down €26,562 (-40.4%), from €65,673 to €39,111
- Cash +€14,687
up €14,687 (+45.3%), from €32,407 to €47,094
mainly Depreciation (+€28,962) and Net result for the year (+€14,859)
- Trade debts -€22,089
down €22,089 (-61.9%), from €35,673 to €13,584
- Other debts -€17,603
down €17,603 (-12.6%), from €139,157 to €121,554
- Profit (loss) carried forward +€14,859
up €14,859 (+11.2%), from €132,759 to €147,618
- Accrued charges and deferred income +€8,899
up €8,899 (+67.7%), from €13,152 to €22,051
- Gross operating margin +€14,638
up €14,638 (+8.1%), from €179,810 to €194,447
- Depreciation -€9,970
down €9,970 (-25.6%), from €38,932 to €28,962
- Staff costs +€6,194
up €6,194 (+4.8%), from €128,948 to €135,142
- Financial charges +€2,261
up €2,261 (+23.8%), from €9,510 to €11,771
- Taxes +€2,102
up €2,102 (+5,864%), from €36 to €2,138
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 | €336,262 | €318,965 | -€17,297 | -5.1% |
| Fixed assets | 21/28 | €68,814 | €39,852 | -€28,962 | -42.1% |
| Intangible fixed assets | 21 | €2,966 | €566 | -€2,400 | -80.9% |
| Tangible fixed assets | 22/27 | €65,673 | €39,111 | -€26,562 | -40.4% |
| Plant, machinery and equipment | 23 | €23,226 | €12,429 | -€10,796 | -46.5% |
| Furniture and vehicles | 24 | €22,349 | €9,226 | -€13,122 | -58.7% |
| Other tangible fixed assets | 26 | €20,099 | €17,455 | -€2,644 | -13.2% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €267,448 | €279,113 | +€11,665 | +4.4% |
| Stocks and contracts in progress | 3 | €42,806 | €42,060 | -€747 | -1.7% |
| Stocks | 30/36 | €42,806 | €42,060 | -€747 | -1.7% |
| Amounts receivable within one year | 40/41 | €186,065 | €187,083 | +€1,018 | +0.5% |
| Trade receivables | 40 | €167,489 | €165,803 | -€1,686 | -1.0% |
| Other amounts receivable | 41 | €18,576 | €21,280 | +€2,705 | +14.6% |
| Cash at bank and in hand | 54/58 | €32,407 | €47,094 | +€14,687 | +45.3% |
| Deferred charges and accrued income | 490/1 | €6,170 | €2,876 | -€3,293 | -53.4% |
| Total equity and liabilities | 10/49 | €336,262 | €318,965 | -€17,297 | -5.1% |
| Equity | 10/15 | €142,759 | €157,618 | +€14,859 | +10.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €132,759 | €147,618 | +€14,859 | +11.2% |
| Amounts payable | 17/49 | €193,503 | €161,347 | -€32,155 | -16.6% |
| Amounts payable within one year | 42/48 | €180,351 | €139,296 | -€41,054 | -22.8% |
| Current portion of amounts payable after more than one year | 42 | €1,173 | - | -€1,173 | |
| Trade debts | 44 | €35,673 | €13,584 | -€22,089 | -61.9% |
| Suppliers | 440/4 | €35,673 | €13,584 | -€22,089 | -61.9% |
| Taxes, remuneration and social security | 45 | €4,348 | €4,159 | -€189 | -4.4% |
| Taxes | 450/3 | €2,263 | €2,111 | -€152 | -6.7% |
| Remuneration and social security | 454/9 | €2,085 | €2,047 | -€37 | -1.8% |
| Other amounts payable | 47/48 | €139,157 | €121,554 | -€17,603 | -12.6% |
| Accrued charges and deferred income | 492/3 | €13,152 | €22,051 | +€8,899 | +67.7% |
| Remuneration, social security and pensions | 62 | €128,948 | €135,142 | +€6,194 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,932 | €28,962 | -€9,970 | -25.6% |
| Other operating charges | 640/8 | €1,513 | €1,625 | +€112 | +7.4% |
| Gross operating margin | 9900 | €179,810 | €194,447 | +€14,638 | +8.1% |
| Operating profit (loss) | 9901 | €10,417 | €28,719 | +€18,302 | +176% |
| Financial income | 75/76B | €80 | €49 | -€31 | -38.9% |
| Recurring financial income | 75 | €80 | €49 | -€31 | -38.9% |
| Financial charges | 65/66B | €9,510 | €11,771 | +€2,261 | +23.8% |
| Recurring financial charges | 65 | €9,510 | €11,771 | +€2,261 | +23.8% |
| Profit (loss) for the period before taxes | 9903 | €986 | €16,997 | +€16,010 | +1,623% |
| Income taxes | 67/77 | €36 | €2,138 | +€2,102 | +5,864% |
| Profit (loss) for the period | 9904 | €951 | €14,859 | +€13,908 | +1,463% |
| Profit (loss) for the period to be appropriated | 9905 | €951 | €14,859 | +€13,908 | +1,463% |
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.