VECOVA: 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.
VECOVA
Largest movements
- Tangible fixed assets -€78,755
down €78,755 (-25.5%), from €309,322 to €230,567
of which Land and buildings: -€61,602
- Receivables within one year -€10,646
down €10,646 (-25.3%), from €42,120 to €31,474
of which Trade receivables: -€10,574
- Profit (loss) carried forward -€48,607
down €48,607 (-22.1%), from -€220,139 to -€268,746
- Debts after one year -€22,069
no longer reported in 2024 (was €22,069)
- Other debts -€16,356
down €16,356 (-3.3%), from €489,121 to €472,765
- Current portion of long-term debt -€6,402
down €6,402 (-22.5%), from €28,471 to €22,069
- Gross operating margin -€32,003
down €32,003 (-44.4%), from €72,139 to €40,136
- Depreciation -€3,905
down €3,905 (-4.7%), from €82,660 to €78,755
- Financial charges +€1,922
up €1,922 (+48.3%), from €3,981 to €5,903
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €351,939 | €262,784 | -€89,155 | -25.3% |
| Fixed assets | 21/28 | €309,322 | €230,567 | -€78,755 | -25.5% |
| Tangible fixed assets | 22/27 | €309,322 | €230,567 | -€78,755 | -25.5% |
| Land and buildings | 22 | €279,814 | €218,212 | -€61,602 | -22.0% |
| Furniture and vehicles | 24 | €29,508 | €12,355 | -€17,153 | -58.1% |
| Current assets | 29/58 | €42,617 | €32,217 | -€10,400 | -24.4% |
| Amounts receivable within one year | 40/41 | €42,120 | €31,474 | -€10,646 | -25.3% |
| Trade receivables | 40 | €16,085 | €5,511 | -€10,574 | -65.7% |
| Other amounts receivable | 41 | €26,035 | €25,963 | -€72 | -0.3% |
| Cash at bank and in hand | 54/58 | €497 | €743 | +€246 | +49.5% |
| Total equity and liabilities | 10/49 | €351,939 | €262,784 | -€89,155 | -25.3% |
| Equity | 10/15 | -€213,939 | -€262,546 | -€48,607 | -22.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€220,139 | -€268,746 | -€48,607 | -22.1% |
| Amounts payable | 17/49 | €565,878 | €525,330 | -€40,548 | -7.2% |
| Amounts payable after more than one year | 17 | €22,069 | - | -€22,069 | |
| Financial debts | 170/4 | €22,069 | - | -€22,069 | |
| Amounts payable within one year | 42/48 | €543,809 | €525,330 | -€18,479 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €28,471 | €22,069 | -€6,402 | -22.5% |
| Financial debts | 43 | €1,249 | €1,067 | -€182 | -14.6% |
| Credit institutions | 430/8 | €1,249 | €1,067 | -€182 | -14.6% |
| Trade debts | 44 | €8,376 | €11,119 | +€2,743 | +32.7% |
| Suppliers | 440/4 | €8,376 | €11,119 | +€2,743 | +32.7% |
| Taxes, remuneration and social security | 45 | €16,592 | €18,310 | +€1,718 | +10.4% |
| Taxes | 450/3 | €16,592 | €18,310 | +€1,718 | +10.4% |
| Other amounts payable | 47/48 | €489,121 | €472,765 | -€16,356 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,660 | €78,755 | -€3,905 | -4.7% |
| Other operating charges | 640/8 | €3,290 | €3,271 | -€19 | -0.6% |
| Gross operating margin | 9900 | €72,139 | €40,136 | -€32,003 | -44.4% |
| Operating profit (loss) | 9901 | -€13,811 | -€41,890 | -€28,079 | -203.3% |
| Financial income | 75/76B | €1 | €21 | +€20 | +2000.0% |
| Recurring financial income | 75 | €1 | €21 | +€20 | +2000.0% |
| Financial charges | 65/66B | €3,981 | €5,903 | +€1,922 | +48.3% |
| Recurring financial charges | 65 | €3,981 | €5,903 | +€1,922 | +48.3% |
| Profit (loss) for the period before taxes | 9903 | -€17,791 | -€47,772 | -€29,981 | -168.5% |
| Income taxes | 67/77 | €874 | €835 | -€39 | -4.5% |
| Profit (loss) for the period | 9904 | -€18,665 | -€48,607 | -€29,942 | -160.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,665 | -€48,607 | -€29,942 | -160.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.