Vectis Partners: 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.
Vectis Partners
Largest movements
- Cash -€125,661
down €125,661 (-61.1%), from €205,786 to €80,126
mainly Contributions, distributions and other (-€1.4m) and Receivables within one year (-€117,496)
- Receivables within one year +€117,496
up €117,496 (+195%), from €60,405 to €177,901
of which Other amounts receivable: +€127,679
- Tangible fixed assets -€63,779
down €63,779 (-17.2%), from €371,661 to €307,882
of which Land and buildings: -€41,471
- Deferred charges and accrued income -€14,623
down €14,623 (-60.0%), from €24,354 to €9,731
- Financial fixed assets +€9,428
up €9,428 (+9.4%), from €99,818 to €109,246
- Reserves -€712,989
down €712,989 (-99.9%), from €713,429 to €440
- Other debts +€622,000
up €622,000 (+8,886%), from €7,000 to €629,000
- Trade debts +€22,392
up €22,392 (+192%), from €11,686 to €34,078
- Contributions -€19,335
down €19,335 (-96.7%), from €20,000 to €665
- Tax, wage and social debts +€10,793
up €10,793 (+109%), from €9,910 to €20,704
of which Remuneration and social security: +€6,310
- Gross operating margin -€70,308
down €70,308 (-6.6%), from €1.1m to €992,525
- Staff costs -€40,442
down €40,442 (-33.0%), from €122,381 to €81,940
- Depreciation -€12,572
down €12,572 (-16.6%), from €75,813 to €63,241
- Taxes -€11,451
down €11,451 (-5.1%), from €224,643 to €213,191
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 | €762,025 | €684,886 | -€77,138 | -10.1% |
| Fixed assets | 21/28 | €471,479 | €417,128 | -€54,351 | -11.5% |
| Tangible fixed assets | 22/27 | €371,661 | €307,882 | -€63,779 | -17.2% |
| Land and buildings | 22 | €298,258 | €256,788 | -€41,471 | -13.9% |
| Plant, machinery and equipment | 23 | - | €1,563 | +€1,563 | |
| Furniture and vehicles | 24 | €73,403 | €49,531 | -€23,871 | -32.5% |
| Financial fixed assets | 28 | €99,818 | €109,246 | +€9,428 | +9.4% |
| Current assets | 29/58 | €290,546 | €267,758 | -€22,788 | -7.8% |
| Amounts receivable within one year | 40/41 | €60,405 | €177,901 | +€117,496 | +195% |
| Trade receivables | 40 | €53,314 | €43,131 | -€10,183 | -19.1% |
| Other amounts receivable | 41 | €7,091 | €134,770 | +€127,679 | +1,801% |
| Cash at bank and in hand | 54/58 | €205,786 | €80,126 | -€125,661 | -61.1% |
| Deferred charges and accrued income | 490/1 | €24,354 | €9,731 | -€14,623 | -60.0% |
| Total equity and liabilities | 10/49 | €762,025 | €684,886 | -€77,138 | -10.1% |
| Equity | 10/15 | €733,429 | €1,105 | -€732,324 | -99.8% |
| Contributions | 10/11 | €20,000 | €665 | -€19,335 | -96.7% |
| Reserves | 13 | €713,429 | €440 | -€712,989 | -99.9% |
| Distributable reserves | 133 | €713,429 | €440 | -€712,989 | -99.9% |
| Amounts payable | 17/49 | €28,596 | €683,781 | +€655,186 | +2,291% |
| Amounts payable within one year | 42/48 | €28,596 | €683,781 | +€655,186 | +2,291% |
| Trade debts | 44 | €11,686 | €34,078 | +€22,392 | +192% |
| Suppliers | 440/4 | €11,686 | €34,078 | +€22,392 | +192% |
| Taxes, remuneration and social security | 45 | €9,910 | €20,704 | +€10,793 | +109% |
| Taxes | 450/3 | €5,820 | €10,304 | +€4,483 | +77.0% |
| Remuneration and social security | 454/9 | €4,090 | €10,400 | +€6,310 | +154% |
| Other amounts payable | 47/48 | €7,000 | €629,000 | +€622,000 | +8,886% |
| Non-recurring operating income | 76A | - | €10,218 | +€10,218 | |
| Remuneration, social security and pensions | 62 | €122,381 | €81,940 | -€40,442 | -33.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,813 | €63,241 | -€12,572 | -16.6% |
| Other operating charges | 640/8 | €1,958 | €1,897 | -€61 | -3.1% |
| Gross operating margin | 9900 | €1,062,834 | €992,525 | -€70,308 | -6.6% |
| Operating profit (loss) | 9901 | €862,681 | €845,448 | -€17,233 | -2.0% |
| Financial income | 75/76B | €220 | €268 | +€48 | +21.8% |
| Recurring financial income | 75 | €220 | €268 | +€48 | +21.8% |
| Financial charges | 65/66B | €3,430 | €3,514 | +€84 | +2.4% |
| Recurring financial charges | 65 | €3,430 | €3,514 | +€84 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | €859,471 | €842,203 | -€17,269 | -2.0% |
| Income taxes | 67/77 | €224,643 | €213,191 | -€11,451 | -5.1% |
| Profit (loss) for the period | 9904 | €634,829 | €629,011 | -€5,817 | -0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €634,829 | €629,011 | -€5,817 | -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.