VECONS: 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.
VECONS
Largest movements
- Receivables within one year -€17,224
down €17,224 (-47.5%), from €36,277 to €19,053
of which Trade receivables: -€23,207
- Cash -€4,609
down €4,609 (-7.0%), from €66,172 to €61,563
mainly Tax, wage and social debts (-€27,360) and Other debts (-€16,856)
- Financial fixed assets -€2,300
down €2,300 (-80.7%), from €2,850 to €550
- Tangible fixed assets -€1,588
down €1,588 (-78.3%), from €2,028 to €439
of which Plant, machinery and equipment: -€1,455
- Tax, wage and social debts -€27,360
down €27,360 (-43.6%), from €62,682 to €35,322
of which Remuneration and social security: -€27,858
- Profit (loss) carried forward +€22,346
up €22,346 (+1,017%), from €2,197 to €24,544
- Other debts -€16,856
down €16,856 (-100%), from €16,856 to €0
- Trade debts -€3,887
down €3,887 (-48.9%), from €7,955 to €4,068
- Gross operating margin +€77,484
up €77,484 (+24.0%), from €322,932 to €400,416
- Staff costs +€76,673
up €76,673 (+27.3%), from €280,964 to €357,637
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 | €108,365 | €82,533 | -€25,832 | -23.8% |
| Fixed assets | 21/28 | €4,878 | €989 | -€3,888 | -79.7% |
| Tangible fixed assets | 22/27 | €2,028 | €439 | -€1,588 | -78.3% |
| Plant, machinery and equipment | 23 | €1,858 | €403 | -€1,455 | -78.3% |
| Furniture and vehicles | 24 | €170 | €36 | -€134 | -78.7% |
| Financial fixed assets | 28 | €2,850 | €550 | -€2,300 | -80.7% |
| Current assets | 29/58 | €103,488 | €81,544 | -€21,944 | -21.2% |
| Amounts receivable within one year | 40/41 | €36,277 | €19,053 | -€17,224 | -47.5% |
| Trade receivables | 40 | €36,277 | €13,070 | -€23,207 | -64.0% |
| Other amounts receivable | 41 | €0 | €5,983 | +€5,983 | |
| Cash at bank and in hand | 54/58 | €66,172 | €61,563 | -€4,609 | -7.0% |
| Deferred charges and accrued income | 490/1 | €1,038 | €928 | -€111 | -10.7% |
| Total equity and liabilities | 10/49 | €108,365 | €82,533 | -€25,832 | -23.8% |
| Equity | 10/15 | €20,797 | €43,144 | +€22,346 | +107% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,197 | €24,544 | +€22,346 | +1,017% |
| Amounts payable | 17/49 | €87,568 | €39,389 | -€48,178 | -55.0% |
| Amounts payable within one year | 42/48 | €87,493 | €39,389 | -€48,103 | -55.0% |
| Trade debts | 44 | €7,955 | €4,068 | -€3,887 | -48.9% |
| Suppliers | 440/4 | €7,955 | €4,068 | -€3,887 | -48.9% |
| Taxes, remuneration and social security | 45 | €62,682 | €35,322 | -€27,360 | -43.6% |
| Taxes | 450/3 | €812 | €1,309 | +€498 | +61.3% |
| Remuneration and social security | 454/9 | €61,871 | €34,013 | -€27,858 | -45.0% |
| Other amounts payable | 47/48 | €16,856 | €0 | -€16,856 | -100% |
| Accrued charges and deferred income | 492/3 | €75 | €0 | -€75 | -100% |
| Remuneration, social security and pensions | 62 | €280,964 | €357,637 | +€76,673 | +27.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,443 | €1,602 | +€159 | +11.0% |
| Other operating charges | 640/8 | €948 | €984 | +€36 | +3.8% |
| Gross operating margin | 9900 | €322,932 | €400,416 | +€77,484 | +24.0% |
| Operating profit (loss) | 9901 | €39,578 | €40,193 | +€615 | +1.6% |
| Financial income | 75/76B | €0 | €14 | +€14 | +138,400% |
| Recurring financial income | 75 | €0 | €14 | +€14 | +138,400% |
| Financial charges | 65/66B | €1,854 | €1,573 | -€281 | -15.2% |
| Recurring financial charges | 65 | €1,854 | €1,573 | -€281 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €37,724 | €38,634 | +€910 | +2.4% |
| Income taxes | 67/77 | €15,567 | €16,288 | +€720 | +4.6% |
| Profit (loss) for the period | 9904 | €22,156 | €22,346 | +€190 | +0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €22,156 | €22,346 | +€190 | +0.9% |
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 16 October 2026 via checked.be.