Veco: 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.
Veco
Largest movements
- Receivables after one year +€400,000
new in 2025: €400,000
- Current investments -€370,000
down €370,000 (-37.0%), from €999,408 to €629,408
- Receivables within one year +€41,034
up €41,034 (+32.7%), from €125,672 to €166,706
- Deferred charges and accrued income +€36,548
up €36,548 (+100.2%), from €36,460 to €73,008
- Cash +€20,605
up €20,605 (+15.8%), from €130,189 to €150,795
mainly Other debts (+€714,286) and Current investments (+€370,000)
- Profit (loss) carried forward -€714,286
down €714,286 (-61.1%), from €1.2m to €454,662
- Other debts +€714,286
up €714,286, from €0 to €714,286
- Reserves +€121,718
up €121,718 (+541.0%), from €22,500 to €144,218
of which Distributable reserves: +€121,718
- Gross operating margin -€1.4m
down €1.4m (-88.4%), from €1.6m to €182,481
- Taxes -€332,862
down €332,862 (-85.4%), from €389,821 to €56,958
- Financial income -€65,338
down €65,338 (-72.8%), from €89,723 to €24,384
- Financial charges -€61,563
down €61,563 (-99.4%), from €61,933 to €370
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 | €1,418,212 | €1,540,698 | +€122,485 | +8.6% |
| Fixed assets | 21/28 | €126,484 | €120,781 | -€5,702 | -4.5% |
| Tangible fixed assets | 22/27 | €126,484 | €120,781 | -€5,702 | -4.5% |
| Land and buildings | 22 | €126,484 | €120,781 | -€5,702 | -4.5% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €1,291,729 | €1,419,916 | +€128,187 | +9.9% |
| Amounts receivable after more than one year | 29 | - | €400,000 | +€400,000 | |
| Other amounts receivable | 291 | - | €400,000 | +€400,000 | |
| Amounts receivable within one year | 40/41 | €125,672 | €166,706 | +€41,034 | +32.7% |
| Other amounts receivable | 41 | €125,672 | €166,706 | +€41,034 | +32.7% |
| Current investments | 50/53 | €999,408 | €629,408 | -€370,000 | -37.0% |
| Cash at bank and in hand | 54/58 | €130,189 | €150,795 | +€20,605 | +15.8% |
| Deferred charges and accrued income | 490/1 | €36,460 | €73,008 | +€36,548 | +100.2% |
| Total equity and liabilities | 10/49 | €1,418,212 | €1,540,698 | +€122,485 | +8.6% |
| Equity | 10/15 | €1,416,448 | €823,881 | -€592,567 | -41.8% |
| Contributions | 10/11 | €225,000 | €225,000 | = | 0.0% |
| Capital | 10 | €225,000 | €225,000 | = | 0.0% |
| Issued capital | 100 | €225,000 | €225,000 | = | 0.0% |
| Reserves | 13 | €22,500 | €144,218 | +€121,718 | +541.0% |
| Non-distributable reserves | 130/1 | €22,500 | €22,500 | = | 0.0% |
| Legal reserve | 130 | €22,500 | €22,500 | = | 0.0% |
| Distributable reserves | 133 | - | €121,718 | +€121,718 | |
| Profit (loss) carried forward | 14 | €1,168,948 | €454,662 | -€714,286 | -61.1% |
| Amounts payable | 17/49 | €1,765 | €716,817 | +€715,052 | +40521.6% |
| Amounts payable within one year | 42/48 | €0 | €716,817 | +€716,817 | |
| Trade debts | 44 | - | €2,531 | +€2,531 | |
| Suppliers | 440/4 | - | €2,531 | +€2,531 | |
| Other amounts payable | 47/48 | €0 | €714,286 | +€714,286 | |
| Accrued charges and deferred income | 492/3 | €1,765 | - | -€1,765 | |
| Non-recurring operating income | 76A | €1,365,597 | - | -€1.4m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,654 | €5,702 | -€4,952 | -46.5% |
| Other operating charges | 640/8 | €25,529 | €22,115 | -€3,413 | -13.4% |
| Gross operating margin | 9900 | €1,567,162 | €182,481 | -€1.4m | -88.4% |
| Operating profit (loss) | 9901 | €1,530,979 | €154,663 | -€1.4m | -89.9% |
| Financial income | 75/76B | €89,723 | €24,384 | -€65,338 | -72.8% |
| Recurring financial income | 75 | €89,723 | €24,384 | -€65,338 | -72.8% |
| Financial charges | 65/66B | €61,933 | €370 | -€61,563 | -99.4% |
| Recurring financial charges | 65 | €61,933 | €370 | -€61,563 | -99.4% |
| Profit (loss) for the period before taxes | 9903 | €1,558,768 | €178,677 | -€1.4m | -88.5% |
| Income taxes | 67/77 | €389,821 | €56,958 | -€332,862 | -85.4% |
| Profit (loss) for the period | 9904 | €1,168,948 | €121,718 | -€1.0m | -89.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,168,948 | €121,718 | -€1.0m | -89.6% |
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 12 October 2026 via checked.be.