VECOTEC: 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.
VECOTEC
Largest movements
- Tangible fixed assets +€17,676
up €17,676 (+274.7%), from €6,435 to €24,111
of which Plant, machinery and equipment: +€20,104
- Receivables within one year +€9,777
up €9,777 (+73.7%), from €13,259 to €23,036
of which Trade receivables: +€9,777
- Cash -€2,695
down €2,695 (-4.1%), from €65,695 to €63,000
mainly Investment in fixed assets (net) (-€27,046) and Receivables within one year (-€9,777)
- Deferred charges and accrued income +€2,437
up €2,437 (+278.3%), from €876 to €3,312
- Reserves +€26,136
up €26,136 (+33.4%), from €78,312 to €104,449
- Depreciation +€5,641
up €5,641 (+151.2%), from €3,730 to €9,370
- Gross operating margin -€4,074
down €4,074 (-8.0%), from €50,666 to €46,592
- Taxes -€3,279
down €3,279 (-26.4%), from €12,437 to €9,157
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 | €121,087 | €146,930 | +€25,843 | +21.3% |
| Fixed assets | 21/28 | €9,781 | €27,457 | +€17,676 | +180.7% |
| Tangible fixed assets | 22/27 | €6,435 | €24,111 | +€17,676 | +274.7% |
| Plant, machinery and equipment | 23 | €2,790 | €22,894 | +€20,104 | +720.6% |
| Furniture and vehicles | 24 | €3,645 | €1,217 | -€2,428 | -66.6% |
| Financial fixed assets | 28 | €3,346 | €3,346 | = | 0.0% |
| Current assets | 29/58 | €111,306 | €119,473 | +€8,167 | +7.3% |
| Stocks and contracts in progress | 3 | €31,476 | €30,125 | -€1,352 | -4.3% |
| Stocks | 30/36 | €31,476 | €30,125 | -€1,352 | -4.3% |
| Amounts receivable within one year | 40/41 | €13,259 | €23,036 | +€9,777 | +73.7% |
| Trade receivables | 40 | €13,259 | €23,036 | +€9,777 | +73.7% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €65,695 | €63,000 | -€2,695 | -4.1% |
| Deferred charges and accrued income | 490/1 | €876 | €3,312 | +€2,437 | +278.3% |
| Total equity and liabilities | 10/49 | €121,087 | €146,930 | +€25,843 | +21.3% |
| Equity | 10/15 | €84,812 | €110,949 | +€26,136 | +30.8% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €78,312 | €104,449 | +€26,136 | +33.4% |
| Distributable reserves | 133 | €78,312 | €104,449 | +€26,136 | +33.4% |
| Amounts payable | 17/49 | €36,275 | €35,981 | -€293 | -0.8% |
| Amounts payable within one year | 42/48 | €36,275 | €35,981 | -€293 | -0.8% |
| Trade debts | 44 | €2,589 | €2,852 | +€263 | +10.2% |
| Suppliers | 440/4 | €2,589 | €2,852 | +€263 | +10.2% |
| Taxes, remuneration and social security | 45 | €13,033 | €12,740 | -€293 | -2.2% |
| Taxes | 450/3 | €13,033 | €12,740 | -€293 | -2.2% |
| Other amounts payable | 47/48 | €20,652 | €20,389 | -€264 | -1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,730 | €9,370 | +€5,641 | +151.2% |
| Other operating charges | 640/8 | €440 | €448 | +€8 | +1.9% |
| Gross operating margin | 9900 | €50,666 | €46,592 | -€4,074 | -8.0% |
| Operating profit (loss) | 9901 | €46,497 | €36,774 | -€9,723 | -20.9% |
| Financial income | 75/76B | €289 | €318 | +€29 | +10.1% |
| Recurring financial income | 75 | €289 | €318 | +€29 | +10.1% |
| Financial charges | 65/66B | €2,007 | €1,798 | -€209 | -10.4% |
| Recurring financial charges | 65 | €2,007 | €1,798 | -€209 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €44,779 | €35,294 | -€9,485 | -21.2% |
| Income taxes | 67/77 | €12,437 | €9,157 | -€3,279 | -26.4% |
| Profit (loss) for the period | 9904 | €32,342 | €26,136 | -€6,206 | -19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €32,342 | €26,136 | -€6,206 | -19.2% |
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 1 October 2026 via checked.be.