VECA SDB: 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.
VECA SDB
Largest movements
- Receivables within one year -€7,779
down €7,779 (-30.8%), from €25,221 to €17,442
of which Trade receivables: -€7,932
- Cash -€1,452
down €1,452 (-28.9%), from €5,030 to €3,578
mainly Investment in fixed assets (net) (-€6,214) and Other debts (-€4,490)
- Tangible fixed assets +€736
up €736 (+3.3%), from €22,633 to €23,369
of which Furniture and vehicles: +€4,582
- Other debts -€4,490
down €4,490 (-97.7%), from €4,597 to €107
- Debts after one year -€4,312
down €4,312 (-51.7%), from €8,348 to €4,036
- Reserves +€1,361
up €1,361 (+15.6%), from €8,710 to €10,071
of which Distributable reserves: +€1,361
- Trade debts -€1,020
down €1,020 (-28.9%), from €3,530 to €2,510
- Gross operating margin -€5,922
down €5,922 (-29.6%), from €19,994 to €14,072
- Taxes -€1,278
down €1,278 (-38.0%), from €3,359 to €2,081
- Depreciation -€340
down €340 (-5.8%), from €5,819 to €5,479
- Financial charges -€321
down €321 (-12.0%), from €2,679 to €2,358
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 | €52,884 | €44,388 | -€8,496 | -16.1% |
| Fixed assets | 21/28 | €22,633 | €23,369 | +€736 | +3.3% |
| Tangible fixed assets | 22/27 | €22,633 | €23,369 | +€736 | +3.3% |
| Land and buildings | 22 | €14,953 | €13,044 | -€1,909 | -12.8% |
| Plant, machinery and equipment | 23 | €2,711 | €773 | -€1,938 | -71.5% |
| Furniture and vehicles | 24 | €4,969 | €9,551 | +€4,582 | +92.2% |
| Current assets | 29/58 | €30,251 | €21,020 | -€9,231 | -30.5% |
| Amounts receivable within one year | 40/41 | €25,221 | €17,442 | -€7,779 | -30.8% |
| Trade receivables | 40 | €20,944 | €13,012 | -€7,932 | -37.9% |
| Other amounts receivable | 41 | €4,277 | €4,430 | +€153 | +3.6% |
| Cash at bank and in hand | 54/58 | €5,030 | €3,578 | -€1,452 | -28.9% |
| Total equity and liabilities | 10/49 | €52,884 | €44,388 | -€8,496 | -16.1% |
| Equity | 10/15 | €28,472 | €29,863 | +€1,391 | +4.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €8,710 | €10,071 | +€1,361 | +15.6% |
| Non-distributable reserves | 130/1 | €2,660 | €2,660 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,660 | €2,660 | = | 0.0% |
| Distributable reserves | 133 | €6,050 | €7,411 | +€1,361 | +22.5% |
| Profit (loss) carried forward | 14 | €18,762 | €18,792 | +€30 | +0.2% |
| Amounts payable | 17/49 | €24,412 | €14,525 | -€9,887 | -40.5% |
| Amounts payable after more than one year | 17 | €8,348 | €4,036 | -€4,312 | -51.7% |
| Financial debts | 170/4 | €8,348 | €4,036 | -€4,312 | -51.7% |
| Amounts payable within one year | 42/48 | €16,064 | €10,489 | -€5,575 | -34.7% |
| Current portion of amounts payable after more than one year | 42 | €4,090 | €4,312 | +€222 | +5.4% |
| Trade debts | 44 | €3,530 | €2,510 | -€1,020 | -28.9% |
| Suppliers | 440/4 | €3,530 | €2,510 | -€1,020 | -28.9% |
| Taxes, remuneration and social security | 45 | €3,846 | €3,559 | -€287 | -7.5% |
| Taxes | 450/3 | €3,846 | €3,559 | -€287 | -7.5% |
| Other amounts payable | 47/48 | €4,597 | €107 | -€4,490 | -97.7% |
| Non-recurring operating income | 76A | - | €1,192 | +€1,192 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,819 | €5,479 | -€340 | -5.8% |
| Other operating charges | 640/8 | €2,116 | €1,967 | -€149 | -7.0% |
| Non-recurring operating charges | 66A | - | €820 | +€820 | |
| Gross operating margin | 9900 | €19,994 | €14,072 | -€5,922 | -29.6% |
| Operating profit (loss) | 9901 | €12,060 | €5,807 | -€6,253 | -51.8% |
| Financial income | 75/76B | €30 | €24 | -€6 | -21.3% |
| Recurring financial income | 75 | €30 | €24 | -€6 | -21.3% |
| Financial charges | 65/66B | €2,679 | €2,358 | -€321 | -12.0% |
| Recurring financial charges | 65 | €2,679 | €2,358 | -€321 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | €9,411 | €3,472 | -€5,938 | -63.1% |
| Income taxes | 67/77 | €3,359 | €2,081 | -€1,278 | -38.0% |
| Profit (loss) for the period | 9904 | €6,052 | €1,391 | -€4,660 | -77.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,052 | €1,391 | -€4,660 | -77.0% |
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 11 October 2026 via checked.be.