VECTORY: 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.
VECTORY
Largest movements
- Receivables within one year -€59,705
down €59,705 (-55.9%), from €106,902 to €47,197
of which Trade receivables: -€85,273
- Tangible fixed assets -€19,856
down €19,856 (-39.3%), from €50,568 to €30,713
of which Plant, machinery and equipment: -€19,716
- Advances received -€67,298
down €67,298 (-84.3%), from €79,864 to €12,566
- Trade debts -€24,014
down €24,014 (-34.4%), from €69,854 to €45,839
- Tax, wage and social debts +€20,511
up €20,511 (+443%), from €4,632 to €25,143
of which Taxes: +€19,031
- Other debts -€7,348
down €7,348 (-20.8%), from €35,324 to €27,976
- Short-term financial debts -€3,145
down €3,145 (-100%), from €3,145 to €0
- Gross operating margin +€16,870
up €16,870 (+100%), from €16,823 to €33,693
- Depreciation -€5,274
down €5,274 (-20.0%), from €26,369 to €21,095
- Other operating charges -€4,932
down €4,932 (-42.0%), from €11,745 to €6,813
- Financial charges +€3,196
up €3,196 (+128%), from €2,495 to €5,691
- Financial income -€1,124
down €1,124 (-99.0%), from €1,136 to €12
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 | €172,570 | €94,448 | -€78,122 | -45.3% |
| Fixed assets | 21/28 | €52,196 | €32,340 | -€19,856 | -38.0% |
| Intangible fixed assets | 21 | €0 | €0 | -€0 | -22.2% |
| Tangible fixed assets | 22/27 | €50,568 | €30,713 | -€19,856 | -39.3% |
| Plant, machinery and equipment | 23 | €50,304 | €30,588 | -€19,716 | -39.2% |
| Furniture and vehicles | 24 | €265 | €125 | -€140 | -52.9% |
| Financial fixed assets | 28 | €1,627 | €1,627 | = | 0.0% |
| Current assets | 29/58 | €120,374 | €62,107 | -€58,267 | -48.4% |
| Stocks and contracts in progress | 3 | €2,700 | €3,250 | +€550 | +20.4% |
| Stocks | 30/36 | €2,700 | €3,250 | +€550 | +20.4% |
| Amounts receivable within one year | 40/41 | €106,902 | €47,197 | -€59,705 | -55.9% |
| Trade receivables | 40 | €106,012 | €20,739 | -€85,273 | -80.4% |
| Other amounts receivable | 41 | €890 | €26,458 | +€25,568 | +2,872% |
| Cash at bank and in hand | 54/58 | €10,772 | €11,660 | +€888 | +8.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €172,570 | €94,448 | -€78,122 | -45.3% |
| Equity | 10/15 | -€20,249 | -€20,143 | +€105 | +0.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,849 | -€38,743 | +€105 | +0.3% |
| Amounts payable | 17/49 | €192,818 | €114,591 | -€78,227 | -40.6% |
| Amounts payable within one year | 42/48 | €192,818 | €111,525 | -€81,294 | -42.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €3,145 | €0 | -€3,145 | -100% |
| Credit institutions | 430/8 | €3,145 | €0 | -€3,145 | -100% |
| Trade debts | 44 | €69,854 | €45,839 | -€24,014 | -34.4% |
| Suppliers | 440/4 | €69,854 | €45,839 | -€24,014 | -34.4% |
| Advances received on contracts in progress | 46 | €79,864 | €12,566 | -€67,298 | -84.3% |
| Taxes, remuneration and social security | 45 | €4,632 | €25,143 | +€20,511 | +443% |
| Taxes | 450/3 | €4,632 | €23,663 | +€19,031 | +411% |
| Remuneration and social security | 454/9 | - | €1,480 | +€1,480 | |
| Other amounts payable | 47/48 | €35,324 | €27,976 | -€7,348 | -20.8% |
| Accrued charges and deferred income | 492/3 | - | €3,066 | +€3,066 | |
| Non-recurring operating income | 76A | - | €21,218 | +€21,218 | |
| Remuneration, social security and pensions | 62 | €635 | €0 | -€635 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,369 | €21,095 | -€5,274 | -20.0% |
| Other operating charges | 640/8 | €11,745 | €6,813 | -€4,932 | -42.0% |
| Gross operating margin | 9900 | €16,823 | €33,693 | +€16,870 | +100% |
| Operating profit (loss) | 9901 | -€21,926 | €5,784 | +€27,711 | |
| Financial income | 75/76B | €1,136 | €12 | -€1,124 | -99.0% |
| Recurring financial income | 75 | €1,136 | €12 | -€1,124 | -99.0% |
| Financial charges | 65/66B | €2,495 | €5,691 | +€3,196 | +128% |
| Recurring financial charges | 65 | €2,495 | €5,691 | +€3,196 | +128% |
| Profit (loss) for the period before taxes | 9903 | -€23,286 | €105 | +€23,391 | |
| Income taxes | 67/77 | €518 | €0 | -€518 | -100% |
| Profit (loss) for the period | 9904 | -€23,803 | €105 | +€23,909 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,803 | €105 | +€23,909 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.