VOX GROUP: 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.
VOX GROUP
Largest movements
- Tangible fixed assets -€29,100
down €29,100 (-34.7%), from €83,773 to €54,673
of which Furniture and vehicles: -€22,387
- Cash -€21,276
down €21,276 (-10.3%), from €205,759 to €184,483
mainly Contributions, distributions and other (-€80,000) and Other debts (-€29,821)
- Other debts -€29,821
down €29,821 (-27.2%), from €109,538 to €79,717
- Tax, wage and social debts -€21,466
down €21,466 (-67.6%), from €31,732 to €10,266
- Reserves +€15,048
up €15,048 (+3.8%), from €392,906 to €407,954
- Current portion of long-term debt -€9,726
down €9,726 (-100.0%), from €9,726 to €0
- Gross operating margin +€64,333
up €64,333 (+60.9%), from €105,595 to €169,928
- Financial income -€18,091
no longer reported in 2025 (was €18,091)
of which Financial income: -€18,091
- Taxes +€16,045
up €16,045 (+58.8%), from €27,264 to €43,308
- Depreciation -€5,344
down €5,344 (-15.5%), from €34,444 to €29,100
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 | €555,717 | €512,099 | -€43,618 | -7.8% |
| Fixed assets | 21/28 | €83,798 | €54,698 | -€29,100 | -34.7% |
| Tangible fixed assets | 22/27 | €83,773 | €54,673 | -€29,100 | -34.7% |
| Plant, machinery and equipment | 23 | €9,363 | €6,819 | -€2,544 | -27.2% |
| Furniture and vehicles | 24 | €61,395 | €39,008 | -€22,387 | -36.5% |
| Other tangible fixed assets | 26 | €13,015 | €8,845 | -€4,169 | -32.0% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €471,919 | €457,402 | -€14,518 | -3.1% |
| Amounts receivable within one year | 40/41 | €15,125 | €20,558 | +€5,433 | +35.9% |
| Trade receivables | 40 | €15,125 | €6,353 | -€8,773 | -58.0% |
| Other amounts receivable | 41 | - | €14,205 | +€14,205 | |
| Current investments | 50/53 | €250,000 | €250,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €205,759 | €184,483 | -€21,276 | -10.3% |
| Deferred charges and accrued income | 490/1 | €1,035 | €2,361 | +€1,326 | +128.1% |
| Total equity and liabilities | 10/49 | €555,717 | €512,099 | -€43,618 | -7.8% |
| Equity | 10/15 | €399,106 | €414,154 | +€15,048 | +3.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €392,906 | €407,954 | +€15,048 | +3.8% |
| Distributable reserves | 133 | €392,906 | €407,954 | +€15,048 | +3.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €156,611 | €97,945 | -€58,666 | -37.5% |
| Amounts payable within one year | 42/48 | €154,545 | €95,878 | -€58,667 | -38.0% |
| Current portion of amounts payable after more than one year | 42 | €9,726 | €0 | -€9,726 | -100.0% |
| Financial debts | 43 | - | €16 | +€16 | |
| Credit institutions | 430/8 | - | €16 | +€16 | |
| Trade debts | 44 | €3,549 | €5,879 | +€2,330 | +65.6% |
| Suppliers | 440/4 | €3,549 | €5,879 | +€2,330 | +65.6% |
| Taxes, remuneration and social security | 45 | €31,732 | €10,266 | -€21,466 | -67.6% |
| Taxes | 450/3 | €31,732 | €10,266 | -€21,466 | -67.6% |
| Other amounts payable | 47/48 | €109,538 | €79,717 | -€29,821 | -27.2% |
| Accrued charges and deferred income | 492/3 | €2,066 | €2,067 | +€1 | +0.1% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,444 | €29,100 | -€5,344 | -15.5% |
| Other operating charges | 640/8 | €3,279 | €2,178 | -€1,101 | -33.6% |
| Gross operating margin | 9900 | €105,595 | €169,928 | +€64,333 | +60.9% |
| Operating profit (loss) | 9901 | €67,872 | €138,650 | +€70,779 | +104.3% |
| Financial income | 75/76B | €18,091 | - | -€18,091 | |
| Recurring financial income | 75 | €18,091 | - | -€18,091 | |
| Non-recurring financial income | 76B | €18,091 | - | -€18,091 | |
| Financial charges | 65/66B | €347 | €294 | -€53 | -15.3% |
| Recurring financial charges | 65 | €347 | €294 | -€53 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €85,615 | €138,356 | +€52,741 | +61.6% |
| Income taxes | 67/77 | €27,264 | €43,308 | +€16,045 | +58.8% |
| Profit (loss) for the period | 9904 | €58,351 | €95,048 | +€36,697 | +62.9% |
| Profit (loss) for the period to be appropriated | 9905 | €58,351 | €95,048 | +€36,697 | +62.9% |
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 8 October 2026 via checked.be.