VOVEMA: 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.
VOVEMA
Largest movements
- Receivables within one year +€18,494
up €18,494 (+140%), from €13,221 to €31,715
of which Other amounts receivable: +€14,088
- Cash +€9,197
up €9,197 (+110%), from €8,378 to €17,575
mainly Net result for the year (+€38,283) and Depreciation (+€9,919)
- Tangible fixed assets -€4,638
down €4,638 (-7.3%), from €63,413 to €58,775
of which Land and buildings: -€7,806
- Profit (loss) carried forward +€38,283
up €38,283 (+104%), from €36,833 to €75,116
- Other debts -€10,611
no longer reported in 2025 (was €10,611)
- Debts after one year -€6,107
down €6,107 (-37.3%), from €16,387 to €10,280
- Tax, wage and social debts +€3,417
up €3,417 (+128%), from €2,662 to €6,079
- Accrued charges and deferred income -€3,159
no longer reported in 2025 (was €3,159)
- Gross operating margin +€17,766
up €17,766 (+36.5%), from €48,728 to €66,494
- Taxes +€3,516
up €3,516 (+45.9%), from €7,662 to €11,179
- Financial charges -€1,208
down €1,208 (-17.6%), from €6,877 to €5,669
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 | €87,790 | €111,058 | +€23,268 | +26.5% |
| Fixed assets | 21/28 | €63,413 | €58,775 | -€4,638 | -7.3% |
| Tangible fixed assets | 22/27 | €63,413 | €58,775 | -€4,638 | -7.3% |
| Land and buildings | 22 | €59,245 | €51,440 | -€7,806 | -13.2% |
| Plant, machinery and equipment | 23 | €2,820 | €6,355 | +€3,536 | +125% |
| Furniture and vehicles | 24 | €1,348 | €980 | -€368 | -27.3% |
| Current assets | 29/58 | €24,377 | €52,283 | +€27,906 | +114% |
| Amounts receivable within one year | 40/41 | €13,221 | €31,715 | +€18,494 | +140% |
| Trade receivables | 40 | €13,221 | €17,627 | +€4,405 | +33.3% |
| Other amounts receivable | 41 | - | €14,088 | +€14,088 | |
| Cash at bank and in hand | 54/58 | €8,378 | €17,575 | +€9,197 | +110% |
| Deferred charges and accrued income | 490/1 | €2,778 | €2,993 | +€215 | +7.7% |
| Total equity and liabilities | 10/49 | €87,790 | €111,058 | +€23,268 | +26.5% |
| Equity | 10/15 | €46,152 | €84,435 | +€38,283 | +82.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €6,319 | €6,319 | = | 0.0% |
| Distributable reserves | 133 | €6,319 | €6,319 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,833 | €75,116 | +€38,283 | +104% |
| Amounts payable | 17/49 | €41,638 | €26,623 | -€15,014 | -36.1% |
| Amounts payable after more than one year | 17 | €16,387 | €10,280 | -€6,107 | -37.3% |
| Financial debts | 170/4 | €16,387 | €10,280 | -€6,107 | -37.3% |
| Amounts payable within one year | 42/48 | €22,092 | €16,344 | -€5,748 | -26.0% |
| Current portion of amounts payable after more than one year | 42 | €5,825 | €6,107 | +€282 | +4.8% |
| Trade debts | 44 | €2,994 | €4,157 | +€1,164 | +38.9% |
| Suppliers | 440/4 | €2,994 | €4,157 | +€1,164 | +38.9% |
| Taxes, remuneration and social security | 45 | €2,662 | €6,079 | +€3,417 | +128% |
| Taxes | 450/3 | €2,662 | €6,079 | +€3,417 | +128% |
| Other amounts payable | 47/48 | €10,611 | - | -€10,611 | |
| Accrued charges and deferred income | 492/3 | €3,159 | - | -€3,159 | |
| Non-recurring operating income | 76A | €3,096 | €1,849 | -€1,247 | -40.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,324 | €9,919 | +€595 | +6.4% |
| Other operating charges | 640/8 | €1,765 | €1,355 | -€410 | -23.2% |
| Non-recurring operating charges | 66A | - | €90 | +€90 | |
| Gross operating margin | 9900 | €48,728 | €66,494 | +€17,766 | +36.5% |
| Operating profit (loss) | 9901 | €37,640 | €55,130 | +€17,490 | +46.5% |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €6,877 | €5,669 | -€1,208 | -17.6% |
| Recurring financial charges | 65 | €6,877 | €5,669 | -€1,208 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €30,769 | €49,461 | +€18,692 | +60.7% |
| Income taxes | 67/77 | €7,662 | €11,179 | +€3,516 | +45.9% |
| Profit (loss) for the period | 9904 | €23,107 | €38,283 | +€15,176 | +65.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,107 | €38,283 | +€15,176 | +65.7% |
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 13 October 2026 via checked.be.