VECAMAX: 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.
VECAMAX
Largest movements
- Receivables after one year +€4,229
up €4,229 (+82.5%), from €5,124 to €9,353
- Receivables within one year +€3,353
up €3,353 (+50.2%), from €6,673 to €10,026
of which Trade receivables: +€2,357
- Tangible fixed assets -€2,023
down €2,023 (-26.0%), from €7,778 to €5,755
- Cash -€1,072
down €1,072 (-38.8%), from €2,760 to €1,689
mainly Receivables after one year (-€4,229) and Receivables within one year (-€3,353)
- Profit (loss) carried forward +€4,306
up €4,306 (+33.5%), from €12,872 to €17,178
- Tax, wage and social debts -€848
down €848 (-36.4%), from €2,331 to €1,482
- Other debts +€780
new in 2024: €780
- Accrued charges and deferred income +€638
new in 2024: €638
- Current portion of long-term debt -€611
down €611 (-62.8%), from €973 to €362
- Gross operating margin -€6,998
down €6,998 (-49.9%), from €14,012 to €7,014
- Taxes -€3,682
down €3,682, from €3,062 to -€620
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €22,493 | €27,148 | +€4,655 | +20.7% |
| Fixed assets | 21/28 | €7,778 | €5,755 | -€2,023 | -26.0% |
| Tangible fixed assets | 22/27 | €7,778 | €5,755 | -€2,023 | -26.0% |
| Plant, machinery and equipment | 23 | €7,778 | €5,755 | -€2,023 | -26.0% |
| Current assets | 29/58 | €14,715 | €21,393 | +€6,678 | +45.4% |
| Amounts receivable after more than one year | 29 | €5,124 | €9,353 | +€4,229 | +82.5% |
| Trade receivables | 290 | €5,124 | €9,353 | +€4,229 | +82.5% |
| Amounts receivable within one year | 40/41 | €6,673 | €10,026 | +€3,353 | +50.2% |
| Trade receivables | 40 | €6,673 | €9,030 | +€2,357 | +35.3% |
| Other amounts receivable | 41 | - | €996 | +€996 | |
| Cash at bank and in hand | 54/58 | €2,760 | €1,689 | -€1,072 | -38.8% |
| Deferred charges and accrued income | 490/1 | €158 | €325 | +€167 | +106% |
| Total equity and liabilities | 10/49 | €22,493 | €27,148 | +€4,655 | +20.7% |
| Equity | 10/15 | €18,872 | €23,178 | +€4,306 | +22.8% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,872 | €17,178 | +€4,306 | +33.5% |
| Amounts payable | 17/49 | €3,621 | €3,970 | +€349 | +9.6% |
| Amounts payable within one year | 42/48 | €3,621 | €3,332 | -€289 | -8.0% |
| Current portion of amounts payable after more than one year | 42 | €973 | €362 | -€611 | -62.8% |
| Trade debts | 44 | €317 | €708 | +€390 | +123% |
| Suppliers | 440/4 | €317 | €708 | +€390 | +123% |
| Taxes, remuneration and social security | 45 | €2,331 | €1,482 | -€848 | -36.4% |
| Taxes | 450/3 | €2,331 | €1,482 | -€848 | -36.4% |
| Other amounts payable | 47/48 | - | €780 | +€780 | |
| Accrued charges and deferred income | 492/3 | - | €638 | +€638 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,023 | €2,023 | = | 0.0% |
| Other operating charges | 640/8 | €786 | €680 | -€106 | -13.5% |
| Gross operating margin | 9900 | €14,012 | €7,014 | -€6,998 | -49.9% |
| Operating profit (loss) | 9901 | €11,203 | €4,311 | -€6,892 | -61.5% |
| Financial charges | 65/66B | €598 | €625 | +€27 | +4.5% |
| Recurring financial charges | 65 | €598 | €625 | +€27 | +4.5% |
| Profit (loss) for the period before taxes | 9903 | €10,605 | €3,686 | -€6,919 | -65.2% |
| Income taxes | 67/77 | €3,062 | -€620 | -€3,682 | |
| Profit (loss) for the period | 9904 | €7,543 | €4,306 | -€3,237 | -42.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,543 | €4,306 | -€3,237 | -42.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.