VECA SOFTWARE: 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.
VECA SOFTWARE
Largest movements
- Tangible fixed assets +€128,966
up €128,966 (+25.4%), from €507,996 to €636,962
of which Assets under construction and advance payments: +€133,394
- Short-term financial debts +€95,000
up €95,000 (+83.7%), from €113,500 to €208,500
- Reserves +€27,467
up €27,467 (+10.5%), from €262,723 to €290,190
- Other debts +€13,823
up €13,823 (+40.1%), from €34,489 to €48,313
- Gross operating margin -€15,959
down €15,959 (-17.5%), from €91,026 to €75,067
- Depreciation +€5,632
up €5,632 (+30.6%), from €18,391 to €24,023
- Financial charges -€2,996
down €2,996 (-17.4%), from €17,197 to €14,201
- Taxes -€2,664
down €2,664 (-25.7%), from €10,369 to €7,705
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 | €540,584 | €671,407 | +€130,823 | +24.2% |
| Fixed assets | 21/28 | €507,996 | €636,962 | +€128,966 | +25.4% |
| Tangible fixed assets | 22/27 | €507,996 | €636,962 | +€128,966 | +25.4% |
| Land and buildings | 22 | €396,844 | €391,882 | -€4,962 | -1.3% |
| Furniture and vehicles | 24 | €584 | €1,118 | +€534 | +91.3% |
| Assets under construction and advance payments | 27 | €110,568 | €243,962 | +€133,394 | +120.6% |
| Current assets | 29/58 | €32,588 | €34,445 | +€1,857 | +5.7% |
| Amounts receivable within one year | 40/41 | €22,842 | €21,848 | -€995 | -4.4% |
| Trade receivables | 40 | €22,842 | €21,848 | -€995 | -4.4% |
| Cash at bank and in hand | 54/58 | €9,746 | €12,598 | +€2,852 | +29.3% |
| Total equity and liabilities | 10/49 | €540,584 | €671,407 | +€130,823 | +24.2% |
| Equity | 10/15 | €327,723 | €355,190 | +€27,467 | +8.4% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €262,723 | €290,190 | +€27,467 | +10.5% |
| Distributable reserves | 133 | €262,723 | €290,190 | +€27,467 | +10.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €212,861 | €316,217 | +€103,356 | +48.6% |
| Amounts payable after more than one year | 17 | €50,000 | €50,000 | = | 0.0% |
| Financial debts | 170/4 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €162,861 | €266,217 | +€103,356 | +63.5% |
| Financial debts | 43 | €113,500 | €208,500 | +€95,000 | +83.7% |
| Credit institutions | 430/8 | €113,500 | €208,500 | +€95,000 | +83.7% |
| Trade debts | 44 | €2,406 | €2,652 | +€246 | +10.2% |
| Suppliers | 440/4 | €2,406 | €2,652 | +€246 | +10.2% |
| Taxes, remuneration and social security | 45 | €12,466 | €6,752 | -€5,714 | -45.8% |
| Taxes | 450/3 | €11,266 | €5,038 | -€6,228 | -55.3% |
| Remuneration and social security | 454/9 | €1,200 | €1,714 | +€514 | +42.9% |
| Other amounts payable | 47/48 | €34,489 | €48,313 | +€13,823 | +40.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,391 | €24,023 | +€5,632 | +30.6% |
| Other operating charges | 640/8 | €1,762 | €1,756 | -€6 | -0.3% |
| Gross operating margin | 9900 | €91,026 | €75,067 | -€15,959 | -17.5% |
| Operating profit (loss) | 9901 | €70,872 | €49,288 | -€21,584 | -30.5% |
| Financial income | 75/76B | €270 | €85 | -€185 | -68.5% |
| Recurring financial income | 75 | €270 | €85 | -€185 | -68.5% |
| Financial charges | 65/66B | €17,197 | €14,201 | -€2,996 | -17.4% |
| Recurring financial charges | 65 | €17,197 | €14,201 | -€2,996 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €53,945 | €35,172 | -€18,773 | -34.8% |
| Income taxes | 67/77 | €10,369 | €7,705 | -€2,664 | -25.7% |
| Profit (loss) for the period | 9904 | €43,576 | €27,467 | -€16,109 | -37.0% |
| Profit (loss) for the period to be appropriated | 9905 | €43,576 | €27,467 | -€16,109 | -37.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.