VECO PROJECTS: 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.
VECO PROJECTS
Largest movements
- Current investments -€15,066
down €15,066 (-100.0%), from €15,066 to €0
- Cash +€6,148
up €6,148 (+197.1%), from €3,119 to €9,267
mainly Current investments (+€15,066) and Tax, wage and social debts (+€3,498)
- Receivables within one year +€2,164
up €2,164 (+32.7%), from €6,622 to €8,786
of which Trade receivables: +€1,615
- Reserves -€7,719
down €7,719 (-41.5%), from €18,618 to €10,899
- Tax, wage and social debts +€3,498
up €3,498 (+120.7%), from €2,899 to €6,396
of which Taxes: +€3,529
- Accrued charges and deferred income -€1,462
down €1,462 (-100.0%), from €1,462 to €0
- Trade debts -€854
down €854 (-46.9%), from €1,822 to €967
- Financial income +€3,762
up €3,762 (+286.1%), from €1,315 to €5,077
of which Non-recurring financial income: +€4,934
- Gross operating margin +€3,055
up €3,055 (+28.8%), from -€10,594 to -€7,538
- Financial charges -€1,193
down €1,193 (-22.6%), from €5,291 to €4,098
- Depreciation +€388
up €388 (+109.7%), from €353 to €741
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 | €27,300 | €20,763 | -€6,538 | -23.9% |
| Fixed assets | 21/28 | €2,493 | €2,534 | +€41 | +1.6% |
| Tangible fixed assets | 22/27 | €2,478 | €2,519 | +€41 | +1.7% |
| Plant, machinery and equipment | 23 | - | €750 | +€750 | |
| Furniture and vehicles | 24 | €2,478 | €1,769 | -€709 | -28.6% |
| Financial fixed assets | 28 | €15 | €15 | = | 0.0% |
| Current assets | 29/58 | €24,807 | €18,228 | -€6,579 | -26.5% |
| Amounts receivable within one year | 40/41 | €6,622 | €8,786 | +€2,164 | +32.7% |
| Trade receivables | 40 | €2,156 | €3,771 | +€1,615 | +74.9% |
| Other amounts receivable | 41 | €4,466 | €5,014 | +€548 | +12.3% |
| Current investments | 50/53 | €15,066 | €0 | -€15,066 | -100.0% |
| Cash at bank and in hand | 54/58 | €3,119 | €9,267 | +€6,148 | +197.1% |
| Deferred charges and accrued income | 490/1 | - | €176 | +€176 | |
| Total equity and liabilities | 10/49 | €27,300 | €20,763 | -€6,538 | -23.9% |
| Equity | 10/15 | €21,118 | €13,399 | -€7,719 | -36.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €18,618 | €10,899 | -€7,719 | -41.5% |
| Distributable reserves | 133 | €18,618 | €10,899 | -€7,719 | -41.5% |
| Amounts payable | 17/49 | €6,182 | €7,364 | +€1,182 | +19.1% |
| Amounts payable within one year | 42/48 | €4,720 | €7,364 | +€2,643 | +56.0% |
| Trade debts | 44 | €1,822 | €967 | -€854 | -46.9% |
| Suppliers | 440/4 | €1,822 | €967 | -€854 | -46.9% |
| Taxes, remuneration and social security | 45 | €2,899 | €6,396 | +€3,498 | +120.7% |
| Taxes | 450/3 | €915 | €4,445 | +€3,529 | +385.6% |
| Remuneration and social security | 454/9 | €1,983 | €1,952 | -€32 | -1.6% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,462 | €0 | -€1,462 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €353 | €741 | +€388 | +109.7% |
| Other operating charges | 640/8 | €357 | €313 | -€44 | -12.3% |
| Gross operating margin | 9900 | -€10,594 | -€7,538 | +€3,055 | +28.8% |
| Operating profit (loss) | 9901 | -€11,304 | -€8,592 | +€2,712 | +24.0% |
| Financial income | 75/76B | €1,315 | €5,077 | +€3,762 | +286.1% |
| Recurring financial income | 75 | €1,315 | €142 | -€1,173 | -89.2% |
| Non-recurring financial income | 76B | - | €4,934 | +€4,934 | |
| Financial charges | 65/66B | €5,291 | €4,098 | -€1,193 | -22.6% |
| Recurring financial charges | 65 | €5,291 | €4,098 | -€1,193 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | -€15,280 | -€7,613 | +€7,667 | +50.2% |
| Income taxes | 67/77 | €115 | €106 | -€9 | -7.7% |
| Profit (loss) for the period | 9904 | -€15,395 | -€7,719 | +€7,676 | +49.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,395 | -€7,719 | +€7,676 | +49.9% |
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.