VECOGEST: 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.
VECOGEST
Largest movements
- Cash +€103,104
up €103,104 (+29.5%), from €350,070 to €453,174
mainly Other debts (+€387,782) and Net result for the year (+€132,153)
- Tangible fixed assets -€5,241
down €5,241 (-11.6%), from €45,105 to €39,865
of which Furniture and vehicles: -€4,100
- Other debts +€387,782
up €387,782 (+6,665%), from €5,818 to €393,601
- Profit (loss) carried forward -€330,907
no longer reported in 2025 (was €330,907)
- Tax, wage and social debts +€48,340
up €48,340 (+93.0%), from €51,992 to €100,333
- Gross operating margin +€12,151
up €12,151 (+7.1%), from €172,349 to €184,500
- Taxes +€3,759
up €3,759 (+10.7%), from €35,212 to €38,972
- Financial income +€2,479
up €2,479 (+443%), from €559 to €3,038
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 | €396,744 | €503,760 | +€107,016 | +27.0% |
| Fixed assets | 21/28 | €45,105 | €44,865 | -€241 | -0.5% |
| Tangible fixed assets | 22/27 | €45,105 | €39,865 | -€5,241 | -11.6% |
| Plant, machinery and equipment | 23 | €2,390 | €1,249 | -€1,141 | -47.7% |
| Furniture and vehicles | 24 | €42,716 | €38,616 | -€4,100 | -9.6% |
| Financial fixed assets | 28 | - | €5,000 | +€5,000 | |
| Current assets | 29/58 | €351,639 | €458,895 | +€107,256 | +30.5% |
| Amounts receivable within one year | 40/41 | - | €3,449 | +€3,449 | |
| Other amounts receivable | 41 | - | €3,449 | +€3,449 | |
| Cash at bank and in hand | 54/58 | €350,070 | €453,174 | +€103,104 | +29.5% |
| Deferred charges and accrued income | 490/1 | €1,569 | €2,272 | +€703 | +44.8% |
| Total equity and liabilities | 10/49 | €396,744 | €503,760 | +€107,016 | +27.0% |
| Equity | 10/15 | €338,407 | €7,500 | -€330,907 | -97.8% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €330,907 | - | -€330,907 | |
| Amounts payable | 17/49 | €58,337 | €496,260 | +€437,923 | +751% |
| Amounts payable within one year | 42/48 | €58,337 | €496,260 | +€437,923 | +751% |
| Trade debts | 44 | €527 | €2,327 | +€1,800 | +342% |
| Suppliers | 440/4 | €527 | €2,327 | +€1,800 | +342% |
| Taxes, remuneration and social security | 45 | €51,992 | €100,333 | +€48,340 | +93.0% |
| Taxes | 450/3 | €51,992 | €100,333 | +€48,340 | +93.0% |
| Other amounts payable | 47/48 | €5,818 | €393,601 | +€387,782 | +6,665% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,152 | €15,217 | +€66 | +0.4% |
| Other operating charges | 640/8 | €2,716 | €1,071 | -€1,645 | -60.6% |
| Gross operating margin | 9900 | €172,349 | €184,500 | +€12,151 | +7.1% |
| Operating profit (loss) | 9901 | €154,481 | €168,211 | +€13,730 | +8.9% |
| Financial income | 75/76B | €559 | €3,038 | +€2,479 | +443% |
| Recurring financial income | 75 | €559 | €3,038 | +€2,479 | +443% |
| Financial charges | 65/66B | €201 | €125 | -€77 | -38.1% |
| Recurring financial charges | 65 | €201 | €125 | -€77 | -38.1% |
| Profit (loss) for the period before taxes | 9903 | €154,839 | €171,124 | +€16,286 | +10.5% |
| Income taxes | 67/77 | €35,212 | €38,972 | +€3,759 | +10.7% |
| Profit (loss) for the period | 9904 | €119,627 | €132,153 | +€12,526 | +10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €119,627 | €132,153 | +€12,526 | +10.5% |
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 20 October 2026 via checked.be.