VEBUCO: 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.
VEBUCO
Largest movements
- Receivables within one year +€1,212
up €1,212 (+14.2%), from €8,541 to €9,754
of which Other amounts receivable: +€1,478
- Deferred charges and accrued income -€1,054
down €1,054 (-76.6%), from €1,376 to €322
- Debts after one year +€42,000
up €42,000 (+6.4%), from €660,000 to €702,000
- Other debts -€22,336
down €22,336 (-70.5%), from €31,678 to €9,342
- Profit (loss) carried forward -€21,301
down €21,301 (-2.8%), from -€768,444 to -€789,745
- Trade debts +€2,676
up €2,676 (+342.8%), from €781 to €3,457
- Accrued charges and deferred income -€725
no longer reported in 2026 (was €725)
- Gross operating margin +€8,426
up €8,426 (+30.3%), from -€27,833 to -€19,407
- Other operating charges +€383
up €383 (+75.0%), from €511 to €894
From the 2025 result to the 2026 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €19,919 | €20,077 | +€158 | +0.8% |
| Fixed assets | 21/28 | €10,001 | €10,001 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €10,001 | €10,001 | = | 0.0% |
| Current assets | 29/58 | €9,918 | €10,076 | +€158 | +1.6% |
| Amounts receivable within one year | 40/41 | €8,541 | €9,754 | +€1,212 | +14.2% |
| Trade receivables | 40 | €265 | - | -€265 | |
| Other amounts receivable | 41 | €8,276 | €9,754 | +€1,478 | +17.9% |
| Deferred charges and accrued income | 490/1 | €1,376 | €322 | -€1,054 | -76.6% |
| Total equity and liabilities | 10/49 | €19,919 | €20,077 | +€158 | +0.8% |
| Equity | 10/15 | -€678,444 | -€699,745 | -€21,301 | -3.1% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€768,444 | -€789,745 | -€21,301 | -2.8% |
| Amounts payable | 17/49 | €698,363 | €719,822 | +€21,459 | +3.1% |
| Amounts payable after more than one year | 17 | €660,000 | €702,000 | +€42,000 | +6.4% |
| Financial debts | 170/4 | €660,000 | €702,000 | +€42,000 | +6.4% |
| Amounts payable within one year | 42/48 | €37,638 | €17,822 | -€19,816 | -52.6% |
| Financial debts | 43 | €5,179 | €5,023 | -€156 | -3.0% |
| Credit institutions | 430/8 | €5,179 | €5,023 | -€156 | -3.0% |
| Trade debts | 44 | €781 | €3,457 | +€2,676 | +342.8% |
| Suppliers | 440/4 | €781 | €3,457 | +€2,676 | +342.8% |
| Other amounts payable | 47/48 | €31,678 | €9,342 | -€22,336 | -70.5% |
| Accrued charges and deferred income | 492/3 | €725 | - | -€725 | |
| Other operating charges | 640/8 | €511 | €894 | +€383 | +75.0% |
| Gross operating margin | 9900 | -€27,833 | -€19,407 | +€8,426 | +30.3% |
| Operating profit (loss) | 9901 | -€28,344 | -€20,301 | +€8,043 | +28.4% |
| Financial charges | 65/66B | €866 | €1,000 | +€134 | +15.5% |
| Recurring financial charges | 65 | €866 | €1,000 | +€134 | +15.5% |
| Profit (loss) for the period before taxes | 9903 | -€29,210 | -€21,301 | +€7,909 | +27.1% |
| Profit (loss) for the period | 9904 | -€29,210 | -€21,301 | +€7,909 | +27.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,210 | -€21,301 | +€7,909 | +27.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.