VATEC: 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.
VATEC
Largest movements
- Cash -€44,706
down €44,706 (-12.7%), from €351,242 to €306,535
mainly Contributions, distributions and other (-€114,012) and Other debts (-€93,602)
- Tangible fixed assets -€34,069
down €34,069 (-21.7%), from €156,693 to €122,624
of which Furniture and vehicles: -€31,948
- Receivables within one year +€17,796
up €17,796 (+40.8%), from €43,586 to €61,382
of which Trade receivables: +€14,468
- Other debts -€93,602
down €93,602 (-99.8%), from €93,794 to €192
- Reserves +€24,122
up €24,122 (+5.3%), from €454,188 to €478,309
of which Distributable reserves: +€27,996
- Gross operating margin +€22,758
up €22,758 (+10.2%), from €222,184 to €244,942
- Taxes +€17,223
up €17,223 (+39.1%), from €44,053 to €61,276
- Depreciation +€5,581
up €5,581 (+17.2%), from €32,455 to €38,035
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 | €576,833 | €508,745 | -€68,088 | -11.8% |
| Fixed assets | 21/28 | €156,693 | €122,624 | -€34,069 | -21.7% |
| Tangible fixed assets | 22/27 | €156,693 | €122,624 | -€34,069 | -21.7% |
| Plant, machinery and equipment | 23 | €5,525 | €4,077 | -€1,448 | -26.2% |
| Furniture and vehicles | 24 | €146,844 | €114,896 | -€31,948 | -21.8% |
| Other tangible fixed assets | 26 | €4,324 | €3,651 | -€673 | -15.6% |
| Current assets | 29/58 | €420,140 | €386,122 | -€34,019 | -8.1% |
| Stocks and contracts in progress | 3 | €18,400 | €13,700 | -€4,700 | -25.5% |
| Stocks | 30/36 | €18,400 | €13,700 | -€4,700 | -25.5% |
| Amounts receivable within one year | 40/41 | €43,586 | €61,382 | +€17,796 | +40.8% |
| Trade receivables | 40 | €40,647 | €55,115 | +€14,468 | +35.6% |
| Other amounts receivable | 41 | €2,939 | €6,267 | +€3,327 | +113.2% |
| Cash at bank and in hand | 54/58 | €351,242 | €306,535 | -€44,706 | -12.7% |
| Deferred charges and accrued income | 490/1 | €6,913 | €4,505 | -€2,408 | -34.8% |
| Total equity and liabilities | 10/49 | €576,833 | €508,745 | -€68,088 | -11.8% |
| Equity | 10/15 | €460,388 | €484,509 | +€24,122 | +5.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €454,188 | €478,309 | +€24,122 | +5.3% |
| Tax-exempt reserves | 132 | €16,852 | €12,978 | -€3,874 | -23.0% |
| Distributable reserves | 133 | €437,335 | €465,331 | +€27,996 | +6.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €4,213 | €3,244 | -€969 | -23.0% |
| Deferred taxes | 168 | €4,213 | €3,244 | -€969 | -23.0% |
| Amounts payable | 17/49 | €112,232 | €20,991 | -€91,241 | -81.3% |
| Amounts payable within one year | 42/48 | €112,232 | €20,741 | -€91,491 | -81.5% |
| Trade debts | 44 | €3,043 | €2,385 | -€658 | -21.6% |
| Suppliers | 440/4 | €3,043 | €2,385 | -€658 | -21.6% |
| Taxes, remuneration and social security | 45 | €15,395 | €18,164 | +€2,769 | +18.0% |
| Taxes | 450/3 | €15,395 | €16,032 | +€637 | +4.1% |
| Remuneration and social security | 454/9 | - | €2,132 | +€2,132 | |
| Other amounts payable | 47/48 | €93,794 | €192 | -€93,602 | -99.8% |
| Accrued charges and deferred income | 492/3 | - | €250 | +€250 | |
| Non-recurring operating income | 76A | €35,232 | €0 | -€35,232 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,455 | €38,035 | +€5,581 | +17.2% |
| Other operating charges | 640/8 | €3,200 | €3,027 | -€173 | -5.4% |
| Gross operating margin | 9900 | €222,184 | €244,942 | +€22,758 | +10.2% |
| Operating profit (loss) | 9901 | €186,529 | €203,880 | +€17,351 | +9.3% |
| Financial income | 75/76B | €652 | €522 | -€130 | -19.9% |
| Recurring financial income | 75 | €652 | €522 | -€130 | -19.9% |
| Financial charges | 65/66B | €3,829 | €5,962 | +€2,133 | +55.7% |
| Recurring financial charges | 65 | €3,829 | €5,962 | +€2,133 | +55.7% |
| Profit (loss) for the period before taxes | 9903 | €183,353 | €198,441 | +€15,088 | +8.2% |
| Transfer from deferred taxes | 780 | €630 | €969 | +€339 | +53.8% |
| Transfer to deferred taxes | 680 | €4,843 | €0 | -€4,843 | -100.0% |
| Income taxes | 67/77 | €44,053 | €61,276 | +€17,223 | +39.1% |
| Profit (loss) for the period | 9904 | €135,086 | €138,133 | +€3,047 | +2.3% |
| Transfer from tax-exempt reserves | 789 | €2,519 | €3,874 | +€1,355 | +53.8% |
| Transfer to tax-exempt reserves | 689 | €19,372 | €0 | -€19,372 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €118,234 | €142,008 | +€23,774 | +20.1% |
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 5 October 2026 via checked.be.