VECOBO: 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.
VECOBO
Largest movements
- Tangible fixed assets -€34,218
down €34,218 (-3.3%), from €1.0m to €1.0m
of which Land and buildings: -€20,216
- Cash +€30,284
up €30,284 (+64.6%), from €46,903 to €77,186
mainly Depreciation (+€40,949) and Net result for the year (+€9,253)
- Other debts -€16,124
down €16,124 (-10.8%), from €149,033 to €132,909
- Gross operating margin +€10,504
up €10,504 (+19.2%), from €54,638 to €65,142
- Taxes +€3,741
up €3,741 (+216%), from €1,731 to €5,472
- Depreciation -€723
down €723 (-1.7%), from €41,672 to €40,949
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.
Derived cash bridge
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 | €1,390,411 | €1,389,101 | -€1,310 | -0.1% |
| Fixed assets | 21/28 | €1,342,672 | €1,309,001 | -€33,671 | -2.5% |
| Tangible fixed assets | 22/27 | €1,038,461 | €1,004,243 | -€34,218 | -3.3% |
| Land and buildings | 22 | €972,364 | €952,148 | -€20,216 | -2.1% |
| Plant, machinery and equipment | 23 | €15,609 | €13,362 | -€2,247 | -14.4% |
| Furniture and vehicles | 24 | €50,488 | €38,733 | -€11,755 | -23.3% |
| Financial fixed assets | 28 | €304,211 | €304,758 | +€547 | +0.2% |
| Current assets | 29/58 | €47,740 | €80,100 | +€32,361 | +67.8% |
| Cash at bank and in hand | 54/58 | €46,903 | €77,186 | +€30,284 | +64.6% |
| Deferred charges and accrued income | 490/1 | €837 | €2,914 | +€2,077 | +248% |
| Total equity and liabilities | 10/49 | €1,390,411 | €1,389,101 | -€1,310 | -0.1% |
| Equity | 10/15 | €1,235,912 | €1,245,165 | +€9,253 | +0.7% |
| Contributions | 10/11 | €278,880 | €278,880 | = | 0.0% |
| Capital | 10 | €278,880 | €278,880 | = | 0.0% |
| Issued capital | 100 | €278,880 | €278,880 | = | 0.0% |
| Reserves | 13 | €957,032 | €966,284 | +€9,253 | +1.0% |
| Non-distributable reserves | 130/1 | €50,944 | €50,944 | = | 0.0% |
| Legal reserve | 130 | €50,944 | €50,944 | = | 0.0% |
| Distributable reserves | 133 | €906,088 | €915,341 | +€9,253 | +1.0% |
| Amounts payable | 17/49 | €154,499 | €143,937 | -€10,563 | -6.8% |
| Amounts payable within one year | 42/48 | €152,996 | €142,434 | -€10,563 | -6.9% |
| Trade debts | 44 | €2,232 | €4,052 | +€1,819 | +81.5% |
| Suppliers | 440/4 | €2,232 | €4,052 | +€1,819 | +81.5% |
| Taxes, remuneration and social security | 45 | €1,731 | €5,472 | +€3,741 | +216% |
| Taxes | 450/3 | €1,731 | €5,472 | +€3,741 | +216% |
| Other amounts payable | 47/48 | €149,033 | €132,909 | -€16,124 | -10.8% |
| Accrued charges and deferred income | 492/3 | €1,503 | €1,503 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,672 | €40,949 | -€723 | -1.7% |
| Other operating charges | 640/8 | €8,484 | €8,250 | -€234 | -2.8% |
| Non-recurring operating charges | 66A | - | €1,114 | +€1,114 | |
| Gross operating margin | 9900 | €54,638 | €65,142 | +€10,504 | +19.2% |
| Operating profit (loss) | 9901 | €4,482 | €14,829 | +€10,347 | +231% |
| Financial income | 75/76B | €1 | €1 | +€0 | +14.2% |
| Recurring financial income | 75 | €1 | €1 | +€0 | +14.2% |
| Financial charges | 65/66B | €84 | €105 | +€20 | +24.1% |
| Recurring financial charges | 65 | €84 | €105 | +€20 | +24.1% |
| Profit (loss) for the period before taxes | 9903 | €4,399 | €14,725 | +€10,326 | +235% |
| Income taxes | 67/77 | €1,731 | €5,472 | +€3,741 | +216% |
| Profit (loss) for the period | 9904 | €2,668 | €9,253 | +€6,585 | +247% |
| Profit (loss) for the period to be appropriated | 9905 | €2,668 | €9,253 | +€6,585 | +247% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.