VOZ ENGINEERING: 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.
VOZ ENGINEERING
Largest movements
- Tangible fixed assets +€130,595
up €130,595 (+1460.4%), from €8,942 to €139,537
of which Land and buildings: +€81,515
- Receivables within one year -€30,909
down €30,909 (-59.6%), from €51,833 to €20,924
of which Trade receivables: -€26,845
- Cash -€29,787
down €29,787 (-94.0%), from €31,690 to €1,903
mainly Investment in fixed assets (net) (-€141,220) and Other debts (-€3,000)
- Deferred charges and accrued income +€2,197
up €2,197 (+255.6%), from €859 to €3,056
- Profit (loss) carried forward +€30,210
up €30,210 (+43.6%), from €69,292 to €99,502
- Debts after one year +€23,760
new in 2025: €23,760
- Current portion of long-term debt +€13,039
new in 2025: €13,039
- Trade debts +€5,769
up €5,769 (+2349.4%), from €246 to €6,014
- Other debts -€3,000
no longer reported in 2025 (was €3,000)
- Depreciation +€8,934
up €8,934 (+528.2%), from €1,691 to €10,625
- Gross operating margin +€7,218
up €7,218 (+14.1%), from €51,347 to €58,564
- Taxes +€3,587
up €3,587 (+36.9%), from €9,712 to €13,299
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 | €93,325 | €165,421 | +€72,096 | +77.3% |
| Fixed assets | 21/28 | €8,942 | €139,537 | +€130,595 | +1460.4% |
| Tangible fixed assets | 22/27 | €8,942 | €139,537 | +€130,595 | +1460.4% |
| Land and buildings | 22 | €5,174 | €86,688 | +€81,515 | +1575.6% |
| Furniture and vehicles | 24 | €3,769 | €52,849 | +€49,080 | +1302.3% |
| Current assets | 29/58 | €84,383 | €25,883 | -€58,499 | -69.3% |
| Amounts receivable within one year | 40/41 | €51,833 | €20,924 | -€30,909 | -59.6% |
| Trade receivables | 40 | €41,283 | €14,438 | -€26,845 | -65.0% |
| Other amounts receivable | 41 | €10,550 | €6,486 | -€4,064 | -38.5% |
| Cash at bank and in hand | 54/58 | €31,690 | €1,903 | -€29,787 | -94.0% |
| Deferred charges and accrued income | 490/1 | €859 | €3,056 | +€2,197 | +255.6% |
| Total equity and liabilities | 10/49 | €93,325 | €165,421 | +€72,096 | +77.3% |
| Equity | 10/15 | €71,292 | €101,502 | +€30,210 | +42.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €69,292 | €99,502 | +€30,210 | +43.6% |
| Amounts payable | 17/49 | €22,033 | €63,918 | +€41,885 | +190.1% |
| Amounts payable after more than one year | 17 | - | €23,760 | +€23,760 | |
| Financial debts | 170/4 | - | €23,760 | +€23,760 | |
| Amounts payable within one year | 42/48 | €22,033 | €40,158 | +€18,125 | +82.3% |
| Current portion of amounts payable after more than one year | 42 | - | €13,039 | +€13,039 | |
| Trade debts | 44 | €246 | €6,014 | +€5,769 | +2349.4% |
| Suppliers | 440/4 | €246 | €6,014 | +€5,769 | +2349.4% |
| Taxes, remuneration and social security | 45 | €18,787 | €21,105 | +€2,317 | +12.3% |
| Taxes | 450/3 | €18,787 | €19,705 | +€917 | +4.9% |
| Remuneration and social security | 454/9 | - | €1,400 | +€1,400 | |
| Other amounts payable | 47/48 | €3,000 | - | -€3,000 | |
| Remuneration, social security and pensions | 62 | €1,829 | €2,224 | +€395 | +21.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,691 | €10,625 | +€8,934 | +528.2% |
| Other operating charges | 640/8 | €570 | €671 | +€101 | +17.8% |
| Gross operating margin | 9900 | €51,347 | €58,564 | +€7,218 | +14.1% |
| Operating profit (loss) | 9901 | €47,256 | €45,044 | -€2,212 | -4.7% |
| Financial income | 75/76B | €70 | €360 | +€291 | +417.8% |
| Recurring financial income | 75 | €70 | €360 | +€291 | +417.8% |
| Financial charges | 65/66B | €1,462 | €1,895 | +€433 | +29.6% |
| Recurring financial charges | 65 | €1,462 | €1,895 | +€433 | +29.6% |
| Profit (loss) for the period before taxes | 9903 | €45,864 | €43,509 | -€2,355 | -5.1% |
| Income taxes | 67/77 | €9,712 | €13,299 | +€3,587 | +36.9% |
| Profit (loss) for the period | 9904 | €36,152 | €30,210 | -€5,942 | -16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €36,152 | €30,210 | -€5,942 | -16.4% |
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.