VEBOTEC: 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.
VEBOTEC
Largest movements
- Tangible fixed assets -€27,042
down €27,042 (-53.7%), from €50,389 to €23,346
of which Furniture and vehicles: -€24,949
- Cash +€14,184
up €14,184 (+556%), from €2,550 to €16,734
mainly Depreciation (+€23,394) and Stocks and contracts (+€12,067)
- Stocks and contracts -€12,067
down €12,067 (-52.2%), from €23,117 to €11,050
- Receivables within one year -€3,588
down €3,588 (-8.4%), from €42,863 to €39,275
of which Other amounts receivable: -€5,680
- Debts after one year -€22,076
down €22,076 (-51.4%), from €42,978 to €20,902
- Short-term financial debts -€10,609
no longer reported in 2025 (was €10,609)
- Reserves +€6,187
up €6,187 (+13.7%), from €45,324 to €51,510
of which Distributable reserves: +€6,187
- Current portion of long-term debt -€1,545
down €1,545 (-7.0%), from €22,215 to €20,670
- Gross operating margin -€6,629
down €6,629 (-9.9%), from €67,188 to €60,558
- Depreciation -€4,213
down €4,213 (-15.3%), from €27,607 to €23,394
- Financial charges -€2,616
down €2,616 (-35.0%), from €7,483 to €4,867
- Staff costs -€2,579
down €2,579 (-11.1%), from €23,245 to €20,666
- Other operating charges -€1,851
down €1,851 (-25.1%), from €7,360 to €5,509
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 | €118,919 | €90,405 | -€28,513 | -24.0% |
| Fixed assets | 21/28 | €50,389 | €23,346 | -€27,042 | -53.7% |
| Tangible fixed assets | 22/27 | €50,389 | €23,346 | -€27,042 | -53.7% |
| Plant, machinery and equipment | 23 | €2,949 | €855 | -€2,093 | -71.0% |
| Furniture and vehicles | 24 | €47,440 | €22,491 | -€24,949 | -52.6% |
| Current assets | 29/58 | €68,530 | €67,059 | -€1,471 | -2.1% |
| Stocks and contracts in progress | 3 | €23,117 | €11,050 | -€12,067 | -52.2% |
| Stocks | 30/36 | €23,117 | €11,050 | -€12,067 | -52.2% |
| Amounts receivable within one year | 40/41 | €42,863 | €39,275 | -€3,588 | -8.4% |
| Trade receivables | 40 | €3,438 | €5,530 | +€2,092 | +60.8% |
| Other amounts receivable | 41 | €39,424 | €33,745 | -€5,680 | -14.4% |
| Cash at bank and in hand | 54/58 | €2,550 | €16,734 | +€14,184 | +556% |
| Total equity and liabilities | 10/49 | €118,919 | €90,405 | -€28,513 | -24.0% |
| Equity | 10/15 | €38,261 | €44,448 | +€6,187 | +16.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €45,324 | €51,510 | +€6,187 | +13.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €43,464 | €49,650 | +€6,187 | +14.2% |
| Profit (loss) carried forward | 14 | -€13,263 | -€13,263 | = | 0.0% |
| Amounts payable | 17/49 | €80,658 | €45,958 | -€34,700 | -43.0% |
| Amounts payable after more than one year | 17 | €42,978 | €20,902 | -€22,076 | -51.4% |
| Financial debts | 170/4 | €42,978 | €20,902 | -€22,076 | -51.4% |
| Amounts payable within one year | 42/48 | €37,679 | €25,056 | -€12,624 | -33.5% |
| Current portion of amounts payable after more than one year | 42 | €22,215 | €20,670 | -€1,545 | -7.0% |
| Financial debts | 43 | €10,609 | - | -€10,609 | |
| Credit institutions | 430/8 | €10,609 | - | -€10,609 | |
| Trade debts | 44 | €2,684 | €1,665 | -€1,019 | -38.0% |
| Suppliers | 440/4 | €2,684 | €1,665 | -€1,019 | -38.0% |
| Taxes, remuneration and social security | 45 | €2,172 | €2,721 | +€549 | +25.3% |
| Taxes | 450/3 | €324 | €1,288 | +€964 | +297% |
| Remuneration and social security | 454/9 | €1,847 | €1,433 | -€415 | -22.4% |
| Remuneration, social security and pensions | 62 | €23,245 | €20,666 | -€2,579 | -11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,607 | €23,394 | -€4,213 | -15.3% |
| Other operating charges | 640/8 | €7,360 | €5,509 | -€1,851 | -25.1% |
| Gross operating margin | 9900 | €67,188 | €60,558 | -€6,629 | -9.9% |
| Operating profit (loss) | 9901 | €8,976 | €10,989 | +€2,013 | +22.4% |
| Financial income | 75/76B | €1,939 | €1,157 | -€782 | -40.3% |
| Recurring financial income | 75 | €1,939 | €1,157 | -€782 | -40.3% |
| Financial charges | 65/66B | €7,483 | €4,867 | -€2,616 | -35.0% |
| Recurring financial charges | 65 | €7,483 | €4,867 | -€2,616 | -35.0% |
| Profit (loss) for the period before taxes | 9903 | €3,432 | €7,279 | +€3,847 | +112% |
| Income taxes | 67/77 | €1,629 | €1,092 | -€537 | -33.0% |
| Profit (loss) for the period | 9904 | €1,803 | €6,187 | +€4,384 | +243% |
| Profit (loss) for the period to be appropriated | 9905 | €1,803 | €6,187 | +€4,384 | +243% |
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 26 October 2026 via checked.be.