VECOM: 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.
VECOM
Largest movements
- Cash -€68,769
down €68,769 (-65.1%), from €105,557 to €36,787
mainly Net result for the year (-€71,792) and Debts after one year (-€15,997)
- Tangible fixed assets -€14,959
down €14,959 (-10.8%), from €138,504 to €123,545
of which Land and buildings: -€13,125
- Receivables within one year -€3,951
down €3,951 (-17.4%), from €22,692 to €18,741
- Deferred charges and accrued income -€3,861
down €3,861 (-69.5%), from €5,553 to €1,692
- Profit (loss) carried forward -€71,792
down €71,792 (-90.7%), from -€79,141 to -€150,933
- Debts after one year -€15,997
down €15,997 (-32.0%), from €49,955 to €33,958
- Trade debts -€4,065
down €4,065 (-41.5%), from €9,789 to €5,724
- Gross operating margin +€17,036
up €17,036 (+36.2%), from -€47,022 to -€29,986
- Financial income -€1,084
down €1,084 (-47.5%), from €2,281 to €1,197
- Financial charges -€1,018
down €1,018 (-20.2%), from €5,050 to €4,032
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 | €272,306 | €180,765 | -€91,540 | -33.6% |
| Fixed assets | 21/28 | €138,504 | €123,545 | -€14,959 | -10.8% |
| Tangible fixed assets | 22/27 | €138,504 | €123,545 | -€14,959 | -10.8% |
| Land and buildings | 22 | €134,303 | €121,178 | -€13,125 | -9.8% |
| Furniture and vehicles | 24 | €4,201 | €2,368 | -€1,834 | -43.6% |
| Current assets | 29/58 | €133,802 | €57,220 | -€76,582 | -57.2% |
| Amounts receivable within one year | 40/41 | €22,692 | €18,741 | -€3,951 | -17.4% |
| Other amounts receivable | 41 | €22,692 | €18,741 | -€3,951 | -17.4% |
| Cash at bank and in hand | 54/58 | €105,557 | €36,787 | -€68,769 | -65.1% |
| Deferred charges and accrued income | 490/1 | €5,553 | €1,692 | -€3,861 | -69.5% |
| Total equity and liabilities | 10/49 | €272,306 | €180,765 | -€91,540 | -33.6% |
| Equity | 10/15 | €192,096 | €120,305 | -€71,792 | -37.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €252,645 | €252,645 | = | 0.0% |
| Non-distributable reserves | 130/1 | €90,044 | €90,044 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Other | 1319 | €88,185 | €88,185 | = | 0.0% |
| Distributable reserves | 133 | €162,601 | €162,601 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€79,141 | -€150,933 | -€71,792 | -90.7% |
| Amounts payable | 17/49 | €80,210 | €60,461 | -€19,749 | -24.6% |
| Amounts payable after more than one year | 17 | €49,955 | €33,958 | -€15,997 | -32.0% |
| Financial debts | 170/4 | €49,955 | €33,958 | -€15,997 | -32.0% |
| Amounts payable within one year | 42/48 | €26,255 | €21,975 | -€4,280 | -16.3% |
| Current portion of amounts payable after more than one year | 42 | €15,455 | €16,039 | +€584 | +3.8% |
| Trade debts | 44 | €9,789 | €5,724 | -€4,065 | -41.5% |
| Suppliers | 440/4 | €9,789 | €5,724 | -€4,065 | -41.5% |
| Advances received on contracts in progress | 46 | €950 | - | -€950 | |
| Taxes, remuneration and social security | 45 | €61 | €213 | +€152 | +248% |
| Taxes | 450/3 | €61 | €213 | +€152 | +248% |
| Accrued charges and deferred income | 492/3 | €4,000 | €4,528 | +€528 | +13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,959 | €14,959 | = | 0.0% |
| Other operating charges | 640/8 | €24,142 | €23,736 | -€406 | -1.7% |
| Gross operating margin | 9900 | -€47,022 | -€29,986 | +€17,036 | +36.2% |
| Operating profit (loss) | 9901 | -€86,123 | -€68,681 | +€17,442 | +20.3% |
| Financial income | 75/76B | €2,281 | €1,197 | -€1,084 | -47.5% |
| Recurring financial income | 75 | €2,281 | €1,197 | -€1,084 | -47.5% |
| Financial charges | 65/66B | €5,050 | €4,032 | -€1,018 | -20.2% |
| Recurring financial charges | 65 | €5,050 | €4,032 | -€1,018 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | -€88,892 | -€71,517 | +€17,376 | +19.5% |
| Income taxes | 67/77 | €288 | €275 | -€13 | -4.6% |
| Profit (loss) for the period | 9904 | -€89,181 | -€71,792 | +€17,389 | +19.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€89,181 | -€71,792 | +€17,389 | +19.5% |
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 15 October 2026 via checked.be.