NEW VEDECA: 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.
NEW VEDECA
Largest movements
- Receivables within one year +€123,094
up €123,094 (+38.9%), from €316,783 to €439,876
of which Trade receivables: +€121,850
- Tangible fixed assets +€63,087
up €63,087 (+60.9%), from €103,531 to €166,618
of which Furniture and vehicles: +€44,998
- Stocks and contracts -€52,453
down €52,453 (-12.8%), from €408,912 to €356,459
- Cash +€24,029
up €24,029 (+56.7%), from €42,384 to €66,413
mainly Net result for the year (+€85,763) and Stocks and contracts (+€52,453)
- Profit (loss) carried forward +€85,763
up €85,763 (+29.3%), from €293,199 to €378,961
- Tax, wage and social debts +€46,988
up €46,988 (+55.7%), from €84,362 to €131,350
of which Taxes: +€32,906
- Debts after one year +€39,037
up €39,037 (+69.2%), from €56,380 to €95,416
- Trade debts -€27,432
down €27,432 (-16.2%), from €168,915 to €141,483
- Staff costs +€16,019
up €16,019 (+12.9%), from €123,840 to €139,859
- Gross operating margin +€12,562
up €12,562 (+4.0%), from €312,515 to €325,077
- Depreciation +€3,570
up €3,570 (+10.0%), from €35,773 to €39,343
- Taxes +€3,290
up €3,290 (+8.1%), from €40,539 to €43,828
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 | €901,174 | €1,054,931 | +€153,757 | +17.1% |
| Fixed assets | 21/28 | €133,096 | €192,183 | +€59,087 | +44.4% |
| Intangible fixed assets | 21 | €28,000 | €24,000 | -€4,000 | -14.3% |
| Tangible fixed assets | 22/27 | €103,531 | €166,618 | +€63,087 | +60.9% |
| Plant, machinery and equipment | 23 | - | €2,368 | +€2,368 | |
| Furniture and vehicles | 24 | €81,743 | €126,741 | +€44,998 | +55.0% |
| Other tangible fixed assets | 26 | €21,788 | €18,156 | -€3,631 | -16.7% |
| Assets under construction and advance payments | 27 | - | €19,352 | +€19,352 | |
| Financial fixed assets | 28 | €1,565 | €1,565 | = | 0.0% |
| Current assets | 29/58 | €768,078 | €862,748 | +€94,669 | +12.3% |
| Stocks and contracts in progress | 3 | €408,912 | €356,459 | -€52,453 | -12.8% |
| Stocks | 30/36 | €408,912 | €356,459 | -€52,453 | -12.8% |
| Amounts receivable within one year | 40/41 | €316,783 | €439,876 | +€123,094 | +38.9% |
| Trade receivables | 40 | €316,783 | €438,632 | +€121,850 | +38.5% |
| Other amounts receivable | 41 | - | €1,244 | +€1,244 | |
| Cash at bank and in hand | 54/58 | €42,384 | €66,413 | +€24,029 | +56.7% |
| Total equity and liabilities | 10/49 | €901,174 | €1,054,931 | +€153,757 | +17.1% |
| Equity | 10/15 | €537,346 | €623,109 | +€85,763 | +16.0% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Contributions outside capital | 11 | €20,460 | - | -€20,460 | |
| Other | 1109/19 | €20,460 | - | -€20,460 | |
| Reserves | 13 | €223,687 | €223,687 | = | 0.0% |
| Tax-exempt reserves | 132 | €202,936 | €202,936 | = | 0.0% |
| Distributable reserves | 133 | €20,751 | €20,751 | = | 0.0% |
| Profit (loss) carried forward | 14 | €293,199 | €378,961 | +€85,763 | +29.3% |
| Amounts payable | 17/49 | €363,828 | €431,822 | +€67,994 | +18.7% |
| Amounts payable after more than one year | 17 | €56,380 | €95,416 | +€39,037 | +69.2% |
| Financial debts | 170/4 | €56,380 | €95,416 | +€39,037 | +69.2% |
| Amounts payable within one year | 42/48 | €307,448 | €336,406 | +€28,957 | +9.4% |
| Current portion of amounts payable after more than one year | 42 | €31,209 | €37,844 | +€6,635 | +21.3% |
| Trade debts | 44 | €168,915 | €141,483 | -€27,432 | -16.2% |
| Suppliers | 440/4 | €168,915 | €141,483 | -€27,432 | -16.2% |
| Taxes, remuneration and social security | 45 | €84,362 | €131,350 | +€46,988 | +55.7% |
| Taxes | 450/3 | €38,502 | €71,408 | +€32,906 | +85.5% |
| Remuneration and social security | 454/9 | €45,860 | €59,942 | +€14,082 | +30.7% |
| Other amounts payable | 47/48 | €22,963 | €25,728 | +€2,765 | +12.0% |
| Non-recurring operating income | 76A | €5,000 | - | -€5,000 | |
| Remuneration, social security and pensions | 62 | €123,840 | €139,859 | +€16,019 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,773 | €39,343 | +€3,570 | +10.0% |
| Other operating charges | 640/8 | €5,974 | €7,070 | +€1,096 | +18.3% |
| Gross operating margin | 9900 | €312,515 | €325,077 | +€12,562 | +4.0% |
| Operating profit (loss) | 9901 | €146,927 | €138,805 | -€8,122 | -5.5% |
| Financial income | 75/76B | - | €22 | +€22 | |
| Recurring financial income | 75 | - | €22 | +€22 | |
| Financial charges | 65/66B | €6,326 | €9,236 | +€2,910 | +46.0% |
| Recurring financial charges | 65 | €6,326 | €9,236 | +€2,910 | +46.0% |
| Profit (loss) for the period before taxes | 9903 | €140,601 | €129,591 | -€11,010 | -7.8% |
| Income taxes | 67/77 | €40,539 | €43,828 | +€3,290 | +8.1% |
| Profit (loss) for the period | 9904 | €100,063 | €85,763 | -€14,300 | -14.3% |
| Profit (loss) for the period to be appropriated | 9905 | €100,063 | €85,763 | -€14,300 | -14.3% |
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 24 October 2026 via checked.be.