VECTIS: 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.
VECTIS
Largest movements
- Tangible fixed assets +€34,246
up €34,246 (+65.8%), from €52,009 to €86,255
of which Plant, machinery and equipment: +€31,883
- Receivables within one year -€11,921
down €11,921 (-66.2%), from €18,006 to €6,085
of which Trade receivables: -€17,635
- Cash -€6,641
down €6,641 (-66.2%), from €10,026 to €3,385
mainly Investment in fixed assets (net) (-€44,035) and Net result for the year (-€13,554)
- Other debts +€28,790
up €28,790 (+518.0%), from €5,558 to €34,348
- Profit (loss) carried forward -€13,554
down €13,554 (-21.7%), from €62,368 to €48,814
- Depreciation +€4,062
up €4,062 (+70.9%), from €5,726 to €9,788
- Gross operating margin -€1,179
down €1,179 (-129.2%), from -€912 to -€2,091
- Taxes +€339
new in 2025: €339
- Financial charges +€136
up €136 (+49.6%), from €274 to €411
- Other operating charges +€26
up €26 (+2.9%), from €899 to €925
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 | €80,953 | €96,018 | +€15,065 | +18.6% |
| Fixed assets | 21/28 | €52,207 | €86,454 | +€34,246 | +65.6% |
| Tangible fixed assets | 22/27 | €52,009 | €86,255 | +€34,246 | +65.8% |
| Land and buildings | 22 | €18,607 | €17,974 | -€632 | -3.4% |
| Plant, machinery and equipment | 23 | €33,402 | €65,285 | +€31,883 | +95.5% |
| Furniture and vehicles | 24 | €0 | €2,996 | +€2,996 | |
| Financial fixed assets | 28 | €198 | €198 | = | 0.0% |
| Current assets | 29/58 | €28,746 | €9,565 | -€19,181 | -66.7% |
| Amounts receivable within one year | 40/41 | €18,006 | €6,085 | -€11,921 | -66.2% |
| Trade receivables | 40 | €17,659 | €25 | -€17,635 | -99.9% |
| Other amounts receivable | 41 | €347 | €6,061 | +€5,714 | +1646.7% |
| Cash at bank and in hand | 54/58 | €10,026 | €3,385 | -€6,641 | -66.2% |
| Deferred charges and accrued income | 490/1 | €714 | €95 | -€619 | -86.8% |
| Total equity and liabilities | 10/49 | €80,953 | €96,018 | +€15,065 | +18.6% |
| Equity | 10/15 | €75,224 | €61,670 | -€13,554 | -18.0% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €6,659 | €6,659 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,800 | €4,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,368 | €48,814 | -€13,554 | -21.7% |
| Amounts payable | 17/49 | €5,729 | €34,348 | +€28,619 | +499.6% |
| Amounts payable within one year | 42/48 | €5,729 | €34,348 | +€28,619 | +499.6% |
| Trade debts | 44 | €171 | - | -€171 | |
| Suppliers | 440/4 | €171 | - | -€171 | |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €5,558 | €34,348 | +€28,790 | +518.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,726 | €9,788 | +€4,062 | +70.9% |
| Other operating charges | 640/8 | €899 | €925 | +€26 | +2.9% |
| Gross operating margin | 9900 | -€912 | -€2,091 | -€1,179 | -129.2% |
| Operating profit (loss) | 9901 | -€7,538 | -€12,804 | -€5,267 | -69.9% |
| Financial charges | 65/66B | €274 | €411 | +€136 | +49.6% |
| Recurring financial charges | 65 | €274 | €411 | +€136 | +49.6% |
| Profit (loss) for the period before taxes | 9903 | -€7,812 | -€13,215 | -€5,403 | -69.2% |
| Income taxes | 67/77 | - | €339 | +€339 | |
| Profit (loss) for the period | 9904 | -€7,812 | -€13,554 | -€5,742 | -73.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,812 | -€13,554 | -€5,742 | -73.5% |
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 2 October 2026 via checked.be.