VECKLA: 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.
VECKLA
Largest movements
- Cash -€228,886
down €228,886 (-64.6%), from €354,442 to €125,556
mainly Investment in fixed assets (net) (-€268,426) and Other debts (-€135,724)
- Tangible fixed assets +€196,388
up €196,388 (+14.7%), from €1.3m to €1.5m
of which Land and buildings: +€222,612
- Financial fixed assets -€26,409
down €26,409 (-3.9%), from €677,009 to €650,600
- Other debts -€135,724
down €135,724 (-12.3%), from €1.1m to €966,816
- Trade debts +€86,252
up €86,252 (+35196.3%), from €245 to €86,497
- Reserves +€63,798
up €63,798 (+8.5%), from €748,359 to €812,157
of which Distributable reserves: +€73,420
- Debts after one year -€53,333
down €53,333 (-33.3%), from €160,001 to €106,667
- Current portion of long-term debt -€37,500
down €37,500 (-41.3%), from €90,833 to €53,333
- Financial charges +€24,253
up €24,253 (+77.5%), from €31,300 to €55,553
of which Non-recurring financial charges: +€26,409
- Gross operating margin +€18,065
up €18,065 (+6.1%), from €294,033 to €312,098
- Depreciation +€14,828
up €14,828 (+17.7%), from €83,619 to €98,447
- Taxes -€14,185
down €14,185 (-27.6%), from €51,477 to €37,292
- Other operating charges +€7,305
up €7,305 (+47.6%), from €15,335 to €22,639
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 | €2,372,740 | €2,307,644 | -€65,095 | -2.7% |
| Fixed assets | 21/28 | €2,010,136 | €2,180,115 | +€169,979 | +8.5% |
| Tangible fixed assets | 22/27 | €1,333,127 | €1,529,515 | +€196,388 | +14.7% |
| Land and buildings | 22 | €1,258,753 | €1,481,365 | +€222,612 | +17.7% |
| Furniture and vehicles | 24 | €74,374 | €48,150 | -€26,224 | -35.3% |
| Financial fixed assets | 28 | €677,009 | €650,600 | -€26,409 | -3.9% |
| Current assets | 29/58 | €362,604 | €127,529 | -€235,074 | -64.8% |
| Amounts receivable within one year | 40/41 | €6,314 | €0 | -€6,314 | -100.0% |
| Trade receivables | 40 | €6,314 | €0 | -€6,314 | -100.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €354,442 | €125,556 | -€228,886 | -64.6% |
| Deferred charges and accrued income | 490/1 | €1,848 | €1,973 | +€126 | +6.8% |
| Total equity and liabilities | 10/49 | €2,372,740 | €2,307,644 | -€65,095 | -2.7% |
| Equity | 10/15 | €922,909 | €986,707 | +€63,798 | +6.9% |
| Contributions | 10/11 | €174,550 | €174,550 | = | 0.0% |
| Capital | 10 | €174,550 | €174,550 | = | 0.0% |
| Issued capital | 100 | €174,550 | €174,550 | = | 0.0% |
| Reserves | 13 | €748,359 | €812,157 | +€63,798 | +8.5% |
| Non-distributable reserves | 130/1 | €17,455 | €17,455 | = | 0.0% |
| Legal reserve | 130 | €17,455 | €17,455 | = | 0.0% |
| Tax-exempt reserves | 132 | €128,357 | €118,735 | -€9,621 | -7.5% |
| Distributable reserves | 133 | €602,547 | €675,967 | +€73,420 | +12.2% |
| Amounts payable | 17/49 | €1,449,831 | €1,320,937 | -€128,894 | -8.9% |
| Amounts payable after more than one year | 17 | €160,001 | €106,667 | -€53,333 | -33.3% |
| Financial debts | 170/4 | €160,001 | €106,667 | -€53,333 | -33.3% |
| Amounts payable within one year | 42/48 | €1,289,830 | €1,214,270 | -€75,560 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €90,833 | €53,333 | -€37,500 | -41.3% |
| Trade debts | 44 | €245 | €86,497 | +€86,252 | +35196.3% |
| Suppliers | 440/4 | €245 | €86,497 | +€86,252 | +35196.3% |
| Taxes, remuneration and social security | 45 | €96,212 | €107,623 | +€11,411 | +11.9% |
| Taxes | 450/3 | €96,212 | €107,623 | +€11,411 | +11.9% |
| Other amounts payable | 47/48 | €1,102,540 | €966,816 | -€135,724 | -12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,619 | €98,447 | +€14,828 | +17.7% |
| Other operating charges | 640/8 | €15,335 | €22,639 | +€7,305 | +47.6% |
| Non-recurring operating charges | 66A | - | €34,369 | +€34,369 | |
| Gross operating margin | 9900 | €294,033 | €312,098 | +€18,065 | +6.1% |
| Operating profit (loss) | 9901 | €195,079 | €156,643 | -€38,436 | -19.7% |
| Financial income | 75/76B | €33 | €0 | -€33 | -100.0% |
| Recurring financial income | 75 | €33 | €0 | -€33 | -100.0% |
| Financial charges | 65/66B | €31,300 | €55,553 | +€24,253 | +77.5% |
| Recurring financial charges | 65 | €31,300 | €29,144 | -€2,156 | -6.9% |
| Non-recurring financial charges | 66B | - | €26,409 | +€26,409 | |
| Profit (loss) for the period before taxes | 9903 | €163,813 | €101,090 | -€62,722 | -38.3% |
| Income taxes | 67/77 | €51,477 | €37,292 | -€14,185 | -27.6% |
| Profit (loss) for the period | 9904 | €112,336 | €63,798 | -€48,538 | -43.2% |
| Transfer from tax-exempt reserves | 789 | €9,621 | €9,621 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €121,958 | €73,420 | -€48,538 | -39.8% |
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 7 October 2026 via checked.be.