VOZ: 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.
VOZ
Largest movements
- Cash +€100,102
up €100,102 (+397%), from €25,224 to €125,327
mainly Trade debts (+€175,976) and Tax, wage and social debts (+€21,014)
- Receivables within one year +€72,813
up €72,813 (+261%), from €27,928 to €100,741
of which Trade receivables: +€83,438
- Tangible fixed assets +€26,297
up €26,297 (+71.7%), from €36,656 to €62,953
of which Plant, machinery and equipment: +€15,184
- Stocks and contracts +€4,874
up €4,874 (+41.4%), from €11,777 to €16,651
- Trade debts +€175,976
up €175,976 (+764%), from €23,022 to €198,998
- Reserves +€71,170
new in 2025: €71,170
- Profit (loss) carried forward -€59,077
no longer reported in 2025 (was €59,077)
- Tax, wage and social debts +€21,014
up €21,014 (+21,917%), from €96 to €21,110
of which Remuneration and social security: +€15,438
- Turnover -€542,954
no longer reported in 2025 (was €542,954)
- Purchases and services -€409,268
no longer reported in 2025 (was €409,268)
- Gross operating margin +€29,691
up €29,691 (+22.2%), from €133,687 to €163,377
- Staff costs +€8,740
up €8,740 (+8.2%), from €106,921 to €115,661
- Taxes +€6,828
up €6,828 (+308%), from €2,215 to €9,043
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 | €102,888 | €309,931 | +€207,043 | +201% |
| Fixed assets | 21/28 | €36,916 | €63,213 | +€26,297 | +71.2% |
| Tangible fixed assets | 22/27 | €36,656 | €62,953 | +€26,297 | +71.7% |
| Plant, machinery and equipment | 23 | €5,480 | €20,665 | +€15,184 | +277% |
| Furniture and vehicles | 24 | €19,991 | €33,715 | +€13,724 | +68.7% |
| Other tangible fixed assets | 26 | €11,185 | €8,573 | -€2,612 | -23.4% |
| Financial fixed assets | 28 | €260 | €260 | = | 0.0% |
| Current assets | 29/58 | €65,972 | €246,718 | +€180,746 | +274% |
| Stocks and contracts in progress | 3 | €11,777 | €16,651 | +€4,874 | +41.4% |
| Stocks | 30/36 | €11,777 | €16,651 | +€4,874 | +41.4% |
| Amounts receivable within one year | 40/41 | €27,928 | €100,741 | +€72,813 | +261% |
| Trade receivables | 40 | €10,040 | €93,478 | +€83,438 | +831% |
| Other amounts receivable | 41 | €17,888 | €7,263 | -€10,625 | -59.4% |
| Cash at bank and in hand | 54/58 | €25,224 | €125,327 | +€100,102 | +397% |
| Deferred charges and accrued income | 490/1 | €1,043 | €4,000 | +€2,957 | +283% |
| Total equity and liabilities | 10/49 | €102,888 | €309,931 | +€207,043 | +201% |
| Equity | 10/15 | €79,537 | €89,770 | +€10,233 | +12.9% |
| Contributions | 10/11 | €20,460 | €18,600 | -€1,860 | -9.1% |
| Reserves | 13 | - | €71,170 | +€71,170 | |
| Distributable reserves | 133 | - | €71,170 | +€71,170 | |
| Profit (loss) carried forward | 14 | €59,077 | - | -€59,077 | |
| Amounts payable | 17/49 | €23,351 | €220,161 | +€196,810 | +843% |
| Amounts payable within one year | 42/48 | €23,351 | €220,161 | +€196,810 | +843% |
| Trade debts | 44 | €23,022 | €198,998 | +€175,976 | +764% |
| Suppliers | 440/4 | €23,022 | €198,998 | +€175,976 | +764% |
| Taxes, remuneration and social security | 45 | €96 | €21,110 | +€21,014 | +21,917% |
| Taxes | 450/3 | - | €5,576 | +€5,576 | |
| Remuneration and social security | 454/9 | €96 | €15,534 | +€15,438 | +16,101% |
| Other amounts payable | 47/48 | €233 | €54 | -€179 | -77.0% |
| Turnover | 70 | €542,954 | - | -€542,954 | |
| Goods, raw materials, services and sundry goods | 60/61 | €409,268 | - | -€409,268 | |
| Remuneration, social security and pensions | 62 | €106,921 | €115,661 | +€8,740 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,173 | €11,099 | +€1,926 | +21.0% |
| Other operating charges | 640/8 | €9,709 | €11,922 | +€2,213 | +22.8% |
| Gross operating margin | 9900 | €133,687 | €163,377 | +€29,691 | +22.2% |
| Operating profit (loss) | 9901 | €7,884 | €24,695 | +€16,812 | +213% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €302 | €5,423 | +€5,121 | +1,697% |
| Recurring financial charges | 65 | €302 | €5,423 | +€5,121 | +1,697% |
| Profit (loss) for the period before taxes | 9903 | €7,582 | €19,275 | +€11,694 | +154% |
| Income taxes | 67/77 | €2,215 | €9,043 | +€6,828 | +308% |
| Profit (loss) for the period | 9904 | €5,367 | €10,233 | +€4,866 | +90.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,367 | €10,233 | +€4,866 | +90.7% |
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 19 October 2026 via checked.be.