VECTOM: 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.
VECTOM
Largest movements
- Tangible fixed assets +€28,800
up €28,800 (+14.1%), from €204,164 to €232,964
of which Land and buildings: +€30,233
- Receivables within one year -€19,259
down €19,259 (-34.7%), from €55,478 to €36,219
of which Other amounts receivable: -€19,403
- Profit (loss) carried forward +€19,970
up €19,970 (+26.0%), from €76,754 to €96,724
- Debts after one year -€10,293
down €10,293 (-5.6%), from €182,248 to €171,955
- Other debts +€4,498
new in 2025: €4,498
- Trade debts -€3,728
down €3,728 (-83.1%), from €4,486 to €758
- Gross operating margin +€11,599
up €11,599 (+28.8%), from €40,283 to €51,881
- Financial charges +€4,600
up €4,600 (+113.3%), from €4,060 to €8,660
- Depreciation +€2,013
up €2,013 (+25.2%), from €7,986 to €9,999
- Taxes +€1,338
up €1,338 (+20.2%), from €6,612 to €7,950
- Other operating charges +€816
up €816 (+255.8%), from €319 to €1,135
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 | €300,477 | €311,120 | +€10,643 | +3.5% |
| Fixed assets | 21/28 | €204,164 | €232,964 | +€28,800 | +14.1% |
| Tangible fixed assets | 22/27 | €204,164 | €232,964 | +€28,800 | +14.1% |
| Land and buildings | 22 | €194,999 | €225,233 | +€30,233 | +15.5% |
| Plant, machinery and equipment | 23 | €949 | €824 | -€125 | -13.2% |
| Furniture and vehicles | 24 | €2,080 | €1,463 | -€618 | -29.7% |
| Other tangible fixed assets | 26 | €6,135 | €5,445 | -€691 | -11.3% |
| Current assets | 29/58 | €96,313 | €78,155 | -€18,157 | -18.9% |
| Amounts receivable within one year | 40/41 | €55,478 | €36,219 | -€19,259 | -34.7% |
| Trade receivables | 40 | €17,586 | €17,730 | +€144 | +0.8% |
| Other amounts receivable | 41 | €37,892 | €18,489 | -€19,403 | -51.2% |
| Cash at bank and in hand | 54/58 | €40,835 | €41,937 | +€1,102 | +2.7% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €300,477 | €311,120 | +€10,643 | +3.5% |
| Equity | 10/15 | €79,754 | €99,724 | +€19,970 | +25.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,754 | €96,724 | +€19,970 | +26.0% |
| Amounts payable | 17/49 | €220,723 | €211,396 | -€9,327 | -4.2% |
| Amounts payable after more than one year | 17 | €182,248 | €171,955 | -€10,293 | -5.6% |
| Financial debts | 170/4 | €182,248 | €171,955 | -€10,293 | -5.6% |
| Amounts payable within one year | 42/48 | €38,474 | €39,440 | +€966 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €9,932 | €10,293 | +€361 | +3.6% |
| Trade debts | 44 | €4,486 | €758 | -€3,728 | -83.1% |
| Suppliers | 440/4 | €4,486 | €758 | -€3,728 | -83.1% |
| Taxes, remuneration and social security | 45 | €24,056 | €23,891 | -€165 | -0.7% |
| Taxes | 450/3 | €24,056 | €23,891 | -€165 | -0.7% |
| Other amounts payable | 47/48 | - | €4,498 | +€4,498 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,986 | €9,999 | +€2,013 | +25.2% |
| Other operating charges | 640/8 | €319 | €1,135 | +€816 | +255.8% |
| Non-recurring operating charges | 66A | €664 | €5,155 | +€4,492 | +676.7% |
| Gross operating margin | 9900 | €40,283 | €51,881 | +€11,599 | +28.8% |
| Operating profit (loss) | 9901 | €31,314 | €35,592 | +€4,277 | +13.7% |
| Financial income | 75/76B | €662 | €988 | +€326 | +49.2% |
| Recurring financial income | 75 | €662 | €988 | +€326 | +49.2% |
| Financial charges | 65/66B | €4,060 | €8,660 | +€4,600 | +113.3% |
| Recurring financial charges | 65 | €4,060 | €8,660 | +€4,600 | +113.3% |
| Profit (loss) for the period before taxes | 9903 | €27,917 | €27,920 | +€3 | 0.0% |
| Income taxes | 67/77 | €6,612 | €7,950 | +€1,338 | +20.2% |
| Profit (loss) for the period | 9904 | €21,305 | €19,970 | -€1,335 | -6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €21,305 | €19,970 | -€1,335 | -6.3% |
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 29 September 2026 via checked.be.