VEBACOM: 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.
VEBACOM
Largest movements
- Tangible fixed assets +€88,788
up €88,788 (+320.6%), from €27,692 to €116,479
of which Leasing and similar rights: +€84,902
- Receivables within one year -€29,975
down €29,975 (-43.2%), from €69,460 to €39,485
of which Trade receivables: -€30,286
- Cash +€6,206
up €6,206 (+21.1%), from €29,444 to €35,650
mainly Debts after one year (+€154,206) and Net result for the year (+€38,681)
- Debts after one year +€154,206
new in 2025: €154,206
- Other debts -€116,910
no longer reported in 2025 (was €116,910)
- Current portion of long-term debt +€32,498
new in 2025: €32,498
- Profit (loss) carried forward +€18,681
up €18,681 (+29.5%), from €63,227 to €81,908
- Trade debts -€12,700
down €12,700 (-83.8%), from €15,156 to €2,457
- Gross operating margin +€20,076
up €20,076 (+41.8%), from €48,072 to €68,148
- Financial charges +€4,529
up €4,529 (+4243.7%), from €107 to €4,636
- Depreciation +€2,490
up €2,490 (+24.3%), from €10,241 to €12,731
- Financial income -€1,588
down €1,588 (-89.8%), from €1,769 to €181
- Taxes +€1,172
up €1,172 (+11.2%), from €10,500 to €11,672
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 | €243,939 | €308,727 | +€64,788 | +26.6% |
| Fixed assets | 21/28 | €144,602 | €233,389 | +€88,788 | +61.4% |
| Tangible fixed assets | 22/27 | €27,692 | €116,479 | +€88,788 | +320.6% |
| Plant, machinery and equipment | 23 | €215 | - | -€215 | |
| Furniture and vehicles | 24 | €12,755 | €18,801 | +€6,046 | +47.4% |
| Leasing and similar rights | 25 | - | €84,902 | +€84,902 | |
| Other tangible fixed assets | 26 | €14,721 | €12,776 | -€1,945 | -13.2% |
| Financial fixed assets | 28 | €116,910 | €116,910 | = | 0.0% |
| Current assets | 29/58 | €99,337 | €75,338 | -€23,999 | -24.2% |
| Amounts receivable within one year | 40/41 | €69,460 | €39,485 | -€29,975 | -43.2% |
| Trade receivables | 40 | €53,602 | €23,316 | -€30,286 | -56.5% |
| Other amounts receivable | 41 | €15,859 | €16,169 | +€311 | +2.0% |
| Cash at bank and in hand | 54/58 | €29,444 | €35,650 | +€6,206 | +21.1% |
| Deferred charges and accrued income | 490/1 | €433 | €203 | -€230 | -53.1% |
| Total equity and liabilities | 10/49 | €243,939 | €308,727 | +€64,788 | +26.6% |
| Equity | 10/15 | €87,627 | €106,308 | +€18,681 | +21.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €23,400 | €23,400 | = | 0.0% |
| Distributable reserves | 133 | €23,400 | €23,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,227 | €81,908 | +€18,681 | +29.5% |
| Amounts payable | 17/49 | €156,312 | €202,420 | +€46,108 | +29.5% |
| Amounts payable after more than one year | 17 | - | €154,206 | +€154,206 | |
| Financial debts | 170/4 | - | €154,206 | +€154,206 | |
| Amounts payable within one year | 42/48 | €156,312 | €48,214 | -€108,098 | -69.2% |
| Current portion of amounts payable after more than one year | 42 | - | €32,498 | +€32,498 | |
| Trade debts | 44 | €15,156 | €2,457 | -€12,700 | -83.8% |
| Suppliers | 440/4 | €15,156 | €2,457 | -€12,700 | -83.8% |
| Taxes, remuneration and social security | 45 | €24,246 | €13,259 | -€10,986 | -45.3% |
| Taxes | 450/3 | €24,246 | €13,259 | -€10,986 | -45.3% |
| Other amounts payable | 47/48 | €116,910 | - | -€116,910 | |
| Non-recurring operating income | 76A | - | €10,945 | +€10,945 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,241 | €12,731 | +€2,490 | +24.3% |
| Other operating charges | 640/8 | €592 | €610 | +€18 | +3.0% |
| Gross operating margin | 9900 | €48,072 | €68,148 | +€20,076 | +41.8% |
| Operating profit (loss) | 9901 | €37,240 | €54,807 | +€17,568 | +47.2% |
| Financial income | 75/76B | €1,769 | €181 | -€1,588 | -89.8% |
| Recurring financial income | 75 | €1,769 | €181 | -€1,588 | -89.8% |
| Financial charges | 65/66B | €107 | €4,636 | +€4,529 | +4243.7% |
| Recurring financial charges | 65 | €107 | €4,636 | +€4,529 | +4243.7% |
| Profit (loss) for the period before taxes | 9903 | €38,903 | €50,353 | +€11,450 | +29.4% |
| Income taxes | 67/77 | €10,500 | €11,672 | +€1,172 | +11.2% |
| Profit (loss) for the period | 9904 | €28,403 | €38,681 | +€10,278 | +36.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,403 | €38,681 | +€10,278 | +36.2% |
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.