VOVABOUW: 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.
VOVABOUW
Largest movements
- Stocks and contracts +€516,245
up €516,245 (+1,590%), from €32,465 to €548,710
of which Stocks: +€451,230
- Cash -€310,827
down €310,827 (-49.6%), from €626,302 to €315,475
mainly Stocks and contracts (-€516,245) and Trade debts (-€86,727)
- Tangible fixed assets -€43,968
down €43,968 (-13.2%), from €332,933 to €288,964
of which Furniture and vehicles: -€44,222
- Accrued charges and deferred income +€270,000
new in 2025: €270,000
- Trade debts -€86,727
down €86,727 (-78.1%), from €111,054 to €24,326
- Debts after one year -€43,184
down €43,184 (-21.5%), from €200,738 to €157,554
- Other debts +€22,979
up €22,979 (+3.6%), from €642,117 to €665,096
- Gross operating margin -€61,736
down €61,736 (-24.4%), from €252,820 to €191,085
- Financial charges -€16,225
down €16,225 (-62.2%), from €26,101 to €9,876
- Taxes -€16,082
down €16,082 (-89.4%), from €17,980 to €1,898
- Staff costs +€9,585
up €9,585 (+8.3%), from €115,367 to €124,952
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 | €1,083,242 | €1,248,661 | +€165,419 | +15.3% |
| Fixed assets | 21/28 | €332,933 | €288,964 | -€43,968 | -13.2% |
| Tangible fixed assets | 22/27 | €332,933 | €288,964 | -€43,968 | -13.2% |
| Plant, machinery and equipment | 23 | €3,626 | €3,879 | +€253 | +7.0% |
| Furniture and vehicles | 24 | €329,307 | €285,085 | -€44,222 | -13.4% |
| Current assets | 29/58 | €750,309 | €959,697 | +€209,388 | +27.9% |
| Stocks and contracts in progress | 3 | €32,465 | €548,710 | +€516,245 | +1,590% |
| Stocks | 30/36 | €32,465 | €483,694 | +€451,230 | +1,390% |
| Contracts in progress | 37 | - | €65,016 | +€65,016 | |
| Amounts receivable within one year | 40/41 | €74,388 | €84,824 | +€10,436 | +14.0% |
| Trade receivables | 40 | €71,883 | €81,924 | +€10,040 | +14.0% |
| Other amounts receivable | 41 | €2,504 | €2,900 | +€396 | +15.8% |
| Cash at bank and in hand | 54/58 | €626,302 | €315,475 | -€310,827 | -49.6% |
| Deferred charges and accrued income | 490/1 | €17,155 | €10,688 | -€6,467 | -37.7% |
| Total equity and liabilities | 10/49 | €1,083,242 | €1,248,661 | +€165,419 | +15.3% |
| Equity | 10/15 | €82,153 | €83,297 | +€1,144 | +1.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €63,553 | €64,697 | +€1,144 | +1.8% |
| Distributable reserves | 133 | €63,553 | €64,697 | +€1,144 | +1.8% |
| Amounts payable | 17/49 | €1,001,089 | €1,165,364 | +€164,276 | +16.4% |
| Amounts payable after more than one year | 17 | €200,738 | €157,554 | -€43,184 | -21.5% |
| Financial debts | 170/4 | €200,738 | €157,554 | -€43,184 | -21.5% |
| Amounts payable within one year | 42/48 | €800,350 | €737,810 | -€62,540 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €41,372 | €43,184 | +€1,813 | +4.4% |
| Trade debts | 44 | €111,054 | €24,326 | -€86,727 | -78.1% |
| Suppliers | 440/4 | €111,054 | €24,326 | -€86,727 | -78.1% |
| Taxes, remuneration and social security | 45 | €5,808 | €5,204 | -€604 | -10.4% |
| Taxes | 450/3 | €2,752 | €2,110 | -€642 | -23.3% |
| Remuneration and social security | 454/9 | €3,056 | €3,094 | +€38 | +1.2% |
| Other amounts payable | 47/48 | €642,117 | €665,096 | +€22,979 | +3.6% |
| Accrued charges and deferred income | 492/3 | - | €270,000 | +€270,000 | |
| Remuneration, social security and pensions | 62 | €115,367 | €124,952 | +€9,585 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,986 | €50,924 | +€1,938 | +4.0% |
| Other operating charges | 640/8 | €945 | €2,532 | +€1,587 | +168% |
| Gross operating margin | 9900 | €252,820 | €191,085 | -€61,736 | -24.4% |
| Operating profit (loss) | 9901 | €87,523 | €12,676 | -€74,847 | -85.5% |
| Financial income | 75/76B | €766 | €241 | -€525 | -68.5% |
| Recurring financial income | 75 | €766 | €241 | -€525 | -68.5% |
| Financial charges | 65/66B | €26,101 | €9,876 | -€16,225 | -62.2% |
| Recurring financial charges | 65 | €26,101 | €9,876 | -€16,225 | -62.2% |
| Profit (loss) for the period before taxes | 9903 | €62,188 | €3,041 | -€59,146 | -95.1% |
| Income taxes | 67/77 | €17,980 | €1,898 | -€16,082 | -89.4% |
| Profit (loss) for the period | 9904 | €44,208 | €1,144 | -€43,064 | -97.4% |
| Profit (loss) for the period to be appropriated | 9905 | €44,208 | €1,144 | -€43,064 | -97.4% |
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 28 October 2026 via checked.be.