VECON: 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.
VECON
Largest movements
- Cash -€36,878
down €36,878 (-99.5%), from €37,051 to €173
mainly Net result for the year (-€27,395) and Receivables within one year (-€6,785)
- Receivables within one year +€6,785
up €6,785 (+19.5%), from €34,819 to €41,604
of which Other amounts receivable: +€6,935
- Tangible fixed assets +€6,714
up €6,714 (+47146.1%), from €14 to €6,728
- Financial fixed assets -€5,000
no longer reported in 2025 (was €5,000)
- Profit (loss) carried forward -€27,395
down €27,395 (-4.5%), from -€613,113 to -€640,508
- Other operating charges -€21,010
down €21,010 (-98.1%), from €21,419 to €409
- Gross operating margin +€6,991
up €6,991 (+22.9%), from -€30,564 to -€23,574
- Financial charges +€1,659
up €1,659 (+234.0%), from €709 to €2,369
- Depreciation +€864
up €864 (+480.1%), from €180 to €1,044
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 | €76,884 | €48,505 | -€28,379 | -36.9% |
| Fixed assets | 21/28 | €5,014 | €6,728 | +€1,714 | +34.2% |
| Tangible fixed assets | 22/27 | €14 | €6,728 | +€6,714 | +47146.1% |
| Furniture and vehicles | 24 | €14 | €6,728 | +€6,714 | +47146.1% |
| Financial fixed assets | 28 | €5,000 | - | -€5,000 | |
| Current assets | 29/58 | €71,869 | €41,777 | -€30,093 | -41.9% |
| Amounts receivable within one year | 40/41 | €34,819 | €41,604 | +€6,785 | +19.5% |
| Trade receivables | 40 | €150 | - | -€150 | |
| Other amounts receivable | 41 | €34,669 | €41,604 | +€6,935 | +20.0% |
| Cash at bank and in hand | 54/58 | €37,051 | €173 | -€36,878 | -99.5% |
| Total equity and liabilities | 10/49 | €76,884 | €48,505 | -€28,379 | -36.9% |
| Equity | 10/15 | -€117,070 | -€144,465 | -€27,395 | -23.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €495,043 | €495,043 | = | 0.0% |
| Tax-exempt reserves | 132 | €423,043 | €423,043 | = | 0.0% |
| Distributable reserves | 133 | €72,000 | €72,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€613,113 | -€640,508 | -€27,395 | -4.5% |
| Provisions and deferred taxes | 16 | €191,014 | €191,014 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €50,000 | €50,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €50,000 | €50,000 | = | 0.0% |
| Deferred taxes | 168 | €141,014 | €141,014 | = | 0.0% |
| Amounts payable | 17/49 | €2,939 | €1,956 | -€984 | -33.5% |
| Amounts payable within one year | 42/48 | €2,939 | €1,956 | -€984 | -33.5% |
| Trade debts | 44 | €2,657 | €1,956 | -€701 | -26.4% |
| Suppliers | 440/4 | €2,657 | €1,956 | -€701 | -26.4% |
| Taxes, remuneration and social security | 45 | €282 | - | -€282 | |
| Taxes | 450/3 | €282 | - | -€282 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €180 | €1,044 | +€864 | +480.1% |
| Other operating charges | 640/8 | €21,419 | €409 | -€21,010 | -98.1% |
| Gross operating margin | 9900 | -€30,564 | -€23,574 | +€6,991 | +22.9% |
| Operating profit (loss) | 9901 | -€52,163 | -€25,027 | +€27,137 | +52.0% |
| Financial charges | 65/66B | €709 | €2,369 | +€1,659 | +234.0% |
| Recurring financial charges | 65 | €709 | €2,369 | +€1,659 | +234.0% |
| Profit (loss) for the period before taxes | 9903 | -€52,873 | -€27,395 | +€25,477 | +48.2% |
| Income taxes | 67/77 | €146 | - | -€146 | |
| Profit (loss) for the period | 9904 | -€53,019 | -€27,395 | +€25,623 | +48.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€53,019 | -€27,395 | +€25,623 | +48.3% |
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 6 October 2026 via checked.be.