VEBECO: 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.
VEBECO
Largest movements
- Cash +€10,384
up €10,384 (+69.0%), from €15,055 to €25,440
mainly Other debts (+€24,137) and Depreciation (+€16,272)
- Tangible fixed assets -€7,909
down €7,909 (-11.1%), from €71,372 to €63,463
of which Land and buildings: -€9,455
- Stocks and contracts +€2,322
up €2,322 (+6.8%), from €34,343 to €36,665
- Other debts +€24,137
up €24,137 (+27.3%), from €88,394 to €112,531
- Profit (loss) carried forward -€14,036
down €14,036 (-21.1%), from -€66,588 to -€80,625
- Debts after one year -€6,185
down €6,185 (-11.0%), from €56,026 to €49,841
of which Financial debts: -€6,185
- Other operating charges +€20,415
up €20,415 (+1250.7%), from €1,632 to €22,047
- Gross operating margin +€17,272
up €17,272 (+214.4%), from €8,058 to €25,329
- Depreciation -€3,763
down €3,763 (-18.8%), from €20,035 to €16,272
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 | €130,843 | €135,131 | +€4,288 | +3.3% |
| Fixed assets | 21/28 | €71,397 | €63,488 | -€7,909 | -11.1% |
| Tangible fixed assets | 22/27 | €71,372 | €63,463 | -€7,909 | -11.1% |
| Land and buildings | 22 | €45,500 | €36,045 | -€9,455 | -20.8% |
| Plant, machinery and equipment | 23 | €530 | €213 | -€317 | -59.8% |
| Furniture and vehicles | 24 | €20,716 | €23,305 | +€2,589 | +12.5% |
| Other tangible fixed assets | 26 | €4,627 | €3,900 | -€727 | -15.7% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €59,446 | €71,643 | +€12,197 | +20.5% |
| Stocks and contracts in progress | 3 | €34,343 | €36,665 | +€2,322 | +6.8% |
| Stocks | 30/36 | €34,343 | €36,665 | +€2,322 | +6.8% |
| Amounts receivable within one year | 40/41 | €8,612 | €7,728 | -€883 | -10.3% |
| Trade receivables | 40 | €1,000 | - | -€1,000 | |
| Other amounts receivable | 41 | €7,612 | €7,728 | +€117 | +1.5% |
| Cash at bank and in hand | 54/58 | €15,055 | €25,440 | +€10,384 | +69.0% |
| Deferred charges and accrued income | 490/1 | €1,436 | €1,810 | +€374 | +26.0% |
| Total equity and liabilities | 10/49 | €130,843 | €135,131 | +€4,288 | +3.3% |
| Equity | 10/15 | -€21,596 | -€35,632 | -€14,036 | -65.0% |
| Contributions | 10/11 | €40,902 | €40,902 | = | 0.0% |
| Reserves | 13 | €4,090 | €4,090 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,090 | €4,090 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,090 | €4,090 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€66,588 | -€80,625 | -€14,036 | -21.1% |
| Amounts payable | 17/49 | €152,438 | €170,763 | +€18,324 | +12.0% |
| Amounts payable after more than one year | 17 | €56,026 | €49,841 | -€6,185 | -11.0% |
| Financial debts | 170/4 | €15,425 | €9,240 | -€6,185 | -40.1% |
| Other amounts payable | 178/9 | €40,601 | €40,601 | = | 0.0% |
| Amounts payable within one year | 42/48 | €94,511 | €119,019 | +€24,508 | +25.9% |
| Current portion of amounts payable after more than one year | 42 | €5,919 | €6,185 | +€266 | +4.5% |
| Trade debts | 44 | €25 | €130 | +€105 | +419.1% |
| Suppliers | 440/4 | €25 | €130 | +€105 | +419.1% |
| Taxes, remuneration and social security | 45 | €173 | €173 | = | 0.0% |
| Taxes | 450/3 | €173 | €173 | = | 0.0% |
| Other amounts payable | 47/48 | €88,394 | €112,531 | +€24,137 | +27.3% |
| Accrued charges and deferred income | 492/3 | €1,902 | €1,903 | +€1 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,035 | €16,272 | -€3,763 | -18.8% |
| Other operating charges | 640/8 | €1,632 | €22,047 | +€20,415 | +1250.7% |
| Gross operating margin | 9900 | €8,058 | €25,329 | +€17,272 | +214.4% |
| Operating profit (loss) | 9901 | -€13,610 | -€12,990 | +€620 | +4.6% |
| Financial charges | 65/66B | €1,120 | €874 | -€247 | -22.0% |
| Recurring financial charges | 65 | €1,120 | €874 | -€247 | -22.0% |
| Profit (loss) for the period before taxes | 9903 | -€14,730 | -€13,864 | +€867 | +5.9% |
| Income taxes | 67/77 | €346 | €173 | -€173 | -50.0% |
| Profit (loss) for the period | 9904 | -€15,076 | -€14,036 | +€1,040 | +6.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,076 | -€14,036 | +€1,040 | +6.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.