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
- Intangible fixed assets -€4,286
down €4,286 (-20.0%), from €21,417 to €17,131
- Tangible fixed assets -€3,237
down €3,237 (-33.4%), from €9,702 to €6,465
- Receivables within one year -€2,202
down €2,202 (-89.1%), from €2,470 to €268
of which Other amounts receivable: -€1,136
- Profit (loss) carried forward -€14,013
down €14,013 (-30.6%), from -€45,793 to -€59,806
- Other debts +€5,950
up €5,950 (+8.4%), from €71,002 to €76,952
- Debts after one year -€2,528
down €2,528 (-44.0%), from €5,741 to €3,213
- Gross operating margin +€1,971
up €1,971 (+31.0%), from -€6,360 to -€4,389
- Other operating charges +€1,316
up €1,316 (+306.0%), from €430 to €1,746
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 | €71,021 | €60,515 | -€10,506 | -14.8% |
| Fixed assets | 21/28 | €31,119 | €23,596 | -€7,523 | -24.2% |
| Intangible fixed assets | 21 | €21,417 | €17,131 | -€4,286 | -20.0% |
| Tangible fixed assets | 22/27 | €9,702 | €6,465 | -€3,237 | -33.4% |
| Plant, machinery and equipment | 23 | €9,702 | €6,465 | -€3,237 | -33.4% |
| Current assets | 29/58 | €39,902 | €36,919 | -€2,983 | -7.5% |
| Stocks and contracts in progress | 3 | €37,244 | €36,537 | -€707 | -1.9% |
| Stocks | 30/36 | €37,244 | €36,537 | -€707 | -1.9% |
| Amounts receivable within one year | 40/41 | €2,470 | €268 | -€2,202 | -89.1% |
| Trade receivables | 40 | €1,066 | - | -€1,066 | |
| Other amounts receivable | 41 | €1,404 | €268 | -€1,136 | -80.9% |
| Cash at bank and in hand | 54/58 | €188 | €114 | -€74 | -39.4% |
| Total equity and liabilities | 10/49 | €71,021 | €60,515 | -€10,506 | -14.8% |
| Equity | 10/15 | -€8,293 | -€22,306 | -€14,013 | -169.0% |
| Contributions | 10/11 | €37,500 | €37,500 | = | 0.0% |
| Outside capital | 11 | €37,500 | €37,500 | = | 0.0% |
| Other | 1109/19 | €37,500 | €37,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€45,793 | -€59,806 | -€14,013 | -30.6% |
| Amounts payable | 17/49 | €79,314 | €82,821 | +€3,507 | +4.4% |
| Amounts payable after more than one year | 17 | €5,741 | €3,213 | -€2,528 | -44.0% |
| Financial debts | 170/4 | €5,741 | €3,213 | -€2,528 | -44.0% |
| Amounts payable within one year | 42/48 | €73,573 | €79,608 | +€6,035 | +8.2% |
| Financial debts | 43 | €2,490 | €2,528 | +€38 | +1.5% |
| Other loans | 439 | €2,490 | €2,528 | +€38 | +1.5% |
| Taxes, remuneration and social security | 45 | €81 | €128 | +€47 | +58.0% |
| Taxes | 450/3 | €81 | €128 | +€47 | +58.0% |
| Other amounts payable | 47/48 | €71,002 | €76,952 | +€5,950 | +8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,521 | €7,523 | +€2 | 0.0% |
| Other operating charges | 640/8 | €430 | €1,746 | +€1,316 | +306.0% |
| Gross operating margin | 9900 | -€6,360 | -€4,389 | +€1,971 | +31.0% |
| Operating profit (loss) | 9901 | -€14,311 | -€13,658 | +€653 | +4.6% |
| Financial charges | 65/66B | €375 | €355 | -€20 | -5.3% |
| Recurring financial charges | 65 | €375 | €355 | -€20 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | -€14,686 | -€14,013 | +€673 | +4.6% |
| Profit (loss) for the period | 9904 | -€14,686 | -€14,013 | +€673 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,686 | -€14,013 | +€673 | +4.6% |
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.