VEC TRANSPORT: 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.
VEC TRANSPORT
Largest movements
- Cash -€56,398
down €56,398 (-32.5%), from €173,746 to €117,348
mainly Tax, wage and social debts (-€46,615) and Investment in fixed assets (net) (-€41,000)
- Receivables within one year +€27,158
up €27,158 (+10.2%), from €265,730 to €292,888
of which Trade receivables: +€51,262
- Tangible fixed assets +€6,293
up €6,293 (+8.4%), from €74,847 to €81,140
- Tax, wage and social debts -€46,615
down €46,615 (-65.8%), from €70,896 to €24,280
of which Remuneration and social security: -€47,113
- Trade debts +€42,174
up €42,174 (+87.4%), from €48,237 to €90,412
- Short-term financial debts -€36,546
down €36,546 (-100.0%), from €36,546 to €0
- Other debts +€35,728
up €35,728 (+14143.0%), from €253 to €35,981
- Reserves -€20,300
down €20,300 (-5.8%), from €349,253 to €328,953
of which Distributable reserves: -€18,441
- Gross operating margin +€75,950
up €75,950 (+27.8%), from €272,851 to €348,801
- Write-downs +€31,036
new in 2025: €31,036
- Other operating charges +€17,063
up €17,063 (+30.1%), from €56,636 to €73,699
- Depreciation -€15,452
down €15,452 (-30.8%), from €50,159 to €34,707
- Staff costs +€10,525
up €10,525 (+5.2%), from €201,306 to €211,831
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 | €526,926 | €504,130 | -€22,797 | -4.3% |
| Fixed assets | 21/28 | €77,872 | €84,165 | +€6,293 | +8.1% |
| Tangible fixed assets | 22/27 | €74,847 | €81,140 | +€6,293 | +8.4% |
| Furniture and vehicles | 24 | €74,847 | €81,140 | +€6,293 | +8.4% |
| Financial fixed assets | 28 | €3,026 | €3,026 | = | 0.0% |
| Current assets | 29/58 | €449,054 | €419,964 | -€29,090 | -6.5% |
| Amounts receivable within one year | 40/41 | €265,730 | €292,888 | +€27,158 | +10.2% |
| Trade receivables | 40 | €80,206 | €131,468 | +€51,262 | +63.9% |
| Other amounts receivable | 41 | €185,524 | €161,420 | -€24,104 | -13.0% |
| Current investments | 50/53 | €3,099 | €3,099 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €173,746 | €117,348 | -€56,398 | -32.5% |
| Deferred charges and accrued income | 490/1 | €6,479 | €6,629 | +€151 | +2.3% |
| Total equity and liabilities | 10/49 | €526,926 | €504,130 | -€22,797 | -4.3% |
| Equity | 10/15 | €370,995 | €352,287 | -€18,708 | -5.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €349,253 | €328,953 | -€20,300 | -5.8% |
| Non-distributable reserves | 130/1 | €1,859 | €0 | -€1,859 | -100.0% |
| Reserves not available under the articles | 1311 | €1,859 | €0 | -€1,859 | -100.0% |
| Distributable reserves | 133 | €347,394 | €328,953 | -€18,441 | -5.3% |
| Profit (loss) carried forward | 14 | €3,150 | €4,742 | +€1,592 | +50.5% |
| Amounts payable | 17/49 | €155,931 | €151,843 | -€4,088 | -2.6% |
| Amounts payable within one year | 42/48 | €155,931 | €150,673 | -€5,258 | -3.4% |
| Financial debts | 43 | €36,546 | €0 | -€36,546 | -100.0% |
| Credit institutions | 430/8 | €36,546 | €0 | -€36,546 | -100.0% |
| Trade debts | 44 | €48,237 | €90,412 | +€42,174 | +87.4% |
| Suppliers | 440/4 | €48,237 | €90,412 | +€42,174 | +87.4% |
| Taxes, remuneration and social security | 45 | €70,896 | €24,280 | -€46,615 | -65.8% |
| Taxes | 450/3 | €1,474 | €1,971 | +€497 | +33.7% |
| Remuneration and social security | 454/9 | €69,422 | €22,309 | -€47,113 | -67.9% |
| Other amounts payable | 47/48 | €253 | €35,981 | +€35,728 | +14143.0% |
| Accrued charges and deferred income | 492/3 | - | €1,170 | +€1,170 | |
| Non-recurring operating income | 76A | €15,496 | €65 | -€15,431 | -99.6% |
| Remuneration, social security and pensions | 62 | €201,306 | €211,831 | +€10,525 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,159 | €34,707 | -€15,452 | -30.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €31,036 | +€31,036 | |
| Other operating charges | 640/8 | €56,636 | €73,699 | +€17,063 | +30.1% |
| Non-recurring operating charges | 66A | €496 | €421 | -€75 | -15.1% |
| Gross operating margin | 9900 | €272,851 | €348,801 | +€75,950 | +27.8% |
| Operating profit (loss) | 9901 | -€35,745 | -€2,893 | +€32,852 | +91.9% |
| Financial income | 75/76B | €843 | €9,176 | +€8,333 | +988.3% |
| Recurring financial income | 75 | €843 | €9,176 | +€8,333 | +988.3% |
| Financial charges | 65/66B | €3,561 | €4,691 | +€1,130 | +31.7% |
| Recurring financial charges | 65 | €3,561 | €4,691 | +€1,130 | +31.7% |
| Profit (loss) for the period before taxes | 9903 | -€38,463 | €1,592 | +€40,054 | |
| Income taxes | 67/77 | €160 | €0 | -€160 | -100.0% |
| Profit (loss) for the period | 9904 | -€38,623 | €1,592 | +€40,214 | |
| Profit (loss) for the period to be appropriated | 9905 | -€38,623 | €1,592 | +€40,214 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.