VECATEX: 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.
VECATEX
Largest movements
- Current investments -€179,000
down €179,000 (-40.0%), from €447,561 to €268,561
- Tangible fixed assets +€129,710
up €129,710 (+30.2%), from €429,000 to €558,710
of which Plant, machinery and equipment: +€107,754
- Cash -€97,991
down €97,991 (-32.5%), from €301,445 to €203,454
mainly Investment in fixed assets (net) (-€178,001) and Debts after one year (-€146,064)
- Receivables within one year -€25,744
down €25,744 (-61.3%), from €41,983 to €16,239
of which Other amounts receivable: -€23,314
- Deferred charges and accrued income +€17,648
up €17,648 (+1086.0%), from €1,625 to €19,273
- Debts after one year -€146,064
down €146,064 (-46.0%), from €317,244 to €171,180
- Write-downs -€115,689
down €115,689 (-100.0%), from €115,689 to €0
- Gross operating margin -€31,706
down €31,706 (-60.8%), from €52,170 to €20,464
- Depreciation -€13,033
down €13,033 (-21.3%), from €61,324 to €48,291
- Financial income -€7,206
down €7,206 (-11.9%), from €60,511 to €53,305
- Other operating charges -€6,371
down €6,371 (-35.0%), from €18,188 to €11,817
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 | €1,221,615 | €1,066,238 | -€155,377 | -12.7% |
| Fixed assets | 21/28 | €429,000 | €558,710 | +€129,710 | +30.2% |
| Tangible fixed assets | 22/27 | €429,000 | €558,710 | +€129,710 | +30.2% |
| Land and buildings | 22 | €409,280 | €376,333 | -€32,946 | -8.0% |
| Plant, machinery and equipment | 23 | €16,981 | €124,736 | +€107,754 | +634.5% |
| Furniture and vehicles | 24 | €2,739 | €57,641 | +€54,902 | +2004.4% |
| Current assets | 29/58 | €792,615 | €507,528 | -€285,087 | -36.0% |
| Amounts receivable within one year | 40/41 | €41,983 | €16,239 | -€25,744 | -61.3% |
| Trade receivables | 40 | €14,963 | €12,533 | -€2,430 | -16.2% |
| Other amounts receivable | 41 | €27,020 | €3,707 | -€23,314 | -86.3% |
| Current investments | 50/53 | €447,561 | €268,561 | -€179,000 | -40.0% |
| Cash at bank and in hand | 54/58 | €301,445 | €203,454 | -€97,991 | -32.5% |
| Deferred charges and accrued income | 490/1 | €1,625 | €19,273 | +€17,648 | +1086.0% |
| Total equity and liabilities | 10/49 | €1,221,615 | €1,066,238 | -€155,377 | -12.7% |
| Equity | 10/15 | €663,326 | €655,865 | -€7,461 | -1.1% |
| Contributions | 10/11 | €178,702 | €178,702 | = | 0.0% |
| Capital | 10 | €178,607 | €178,607 | = | 0.0% |
| Issued capital | 100 | €203,892 | €203,892 | = | 0.0% |
| Uncalled capital | 101 | €25,285 | €25,285 | = | 0.0% |
| Outside capital | 11 | €94 | €94 | = | 0.0% |
| Share premium | 1100/10 | €94 | €94 | = | 0.0% |
| Reserves | 13 | €484,624 | €477,164 | -€7,461 | -1.5% |
| Non-distributable reserves | 130/1 | €20,389 | €20,389 | = | 0.0% |
| Legal reserve | 130 | €20,389 | €20,389 | = | 0.0% |
| Tax-exempt reserves | 132 | €167,040 | €167,040 | = | 0.0% |
| Distributable reserves | 133 | €297,196 | €289,735 | -€7,461 | -2.5% |
| Amounts payable | 17/49 | €558,289 | €410,372 | -€147,916 | -26.5% |
| Amounts payable after more than one year | 17 | €317,244 | €171,180 | -€146,064 | -46.0% |
| Other amounts payable | 178/9 | €317,244 | €171,180 | -€146,064 | -46.0% |
| Amounts payable within one year | 42/48 | €231,551 | €228,373 | -€3,178 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €4,657 | €0 | -€4,657 | -100.0% |
| Trade debts | 44 | €2,227 | €477 | -€1,749 | -78.6% |
| Suppliers | 440/4 | €2,227 | €477 | -€1,749 | -78.6% |
| Taxes, remuneration and social security | 45 | €6,650 | €10,668 | +€4,018 | +60.4% |
| Taxes | 450/3 | €6,650 | €10,668 | +€4,018 | +60.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €218,017 | €217,228 | -€789 | -0.4% |
| Accrued charges and deferred income | 492/3 | €9,493 | €10,819 | +€1,326 | +14.0% |
| Non-recurring operating income | 76A | €18,217 | €11,875 | -€6,342 | -34.8% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,324 | €48,291 | -€13,033 | -21.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €115,689 | €0 | -€115,689 | -100.0% |
| Other operating charges | 640/8 | €18,188 | €11,817 | -€6,371 | -35.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €52,170 | €20,464 | -€31,706 | -60.8% |
| Operating profit (loss) | 9901 | -€143,031 | -€39,644 | +€103,387 | +72.3% |
| Financial income | 75/76B | €60,511 | €53,305 | -€7,206 | -11.9% |
| Recurring financial income | 75 | €60,511 | €53,305 | -€7,206 | -11.9% |
| Financial charges | 65/66B | €25,535 | €21,122 | -€4,413 | -17.3% |
| Recurring financial charges | 65 | €25,535 | €21,122 | -€4,413 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | -€108,055 | -€7,461 | +€100,595 | +93.1% |
| Profit (loss) for the period | 9904 | -€108,055 | -€7,461 | +€100,595 | +93.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€108,055 | -€7,461 | +€100,595 | +93.1% |
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 28 September 2026 via checked.be.