VECTRON: 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.
VECTRON
Largest movements
- Current investments +€147,863
up €147,863 (+64.2%), from €230,419 to €378,282
- Cash -€62,133
down €62,133 (-28.9%), from €215,197 to €153,064
mainly Current investments (-€147,863) and Contributions, distributions and other (-€15,000)
- Tangible fixed assets -€40,913
down €40,913 (-7.5%), from €547,640 to €506,727
of which Land and buildings: -€21,876
- Reserves +€44,514
up €44,514 (+5.7%), from €783,860 to €828,374
- Financial income +€7,124
up €7,124 (+107.4%), from €6,630 to €13,754
- Gross operating margin -€6,180
down €6,180 (-4.8%), from €127,645 to €121,465
- Financial charges +€1,386
up €1,386 (+55.2%), from €2,509 to €3,895
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 | €996,015 | €1,041,484 | +€45,469 | +4.6% |
| Fixed assets | 21/28 | €548,910 | €508,517 | -€40,393 | -7.4% |
| Tangible fixed assets | 22/27 | €547,640 | €506,727 | -€40,913 | -7.5% |
| Land and buildings | 22 | €463,572 | €441,696 | -€21,876 | -4.7% |
| Plant, machinery and equipment | 23 | €11,772 | €9,470 | -€2,303 | -19.6% |
| Furniture and vehicles | 24 | €72,296 | €55,562 | -€16,734 | -23.1% |
| Financial fixed assets | 28 | €1,270 | €1,790 | +€520 | +40.9% |
| Current assets | 29/58 | €447,105 | €532,967 | +€85,862 | +19.2% |
| Amounts receivable within one year | 40/41 | €386 | €1,035 | +€650 | +168.4% |
| Trade receivables | 40 | €227 | €998 | +€771 | +338.8% |
| Other amounts receivable | 41 | €158 | €37 | -€121 | -76.3% |
| Current investments | 50/53 | €230,419 | €378,282 | +€147,863 | +64.2% |
| Cash at bank and in hand | 54/58 | €215,197 | €153,064 | -€62,133 | -28.9% |
| Deferred charges and accrued income | 490/1 | €1,103 | €585 | -€518 | -47.0% |
| Total equity and liabilities | 10/49 | €996,015 | €1,041,484 | +€45,469 | +4.6% |
| Equity | 10/15 | €873,890 | €918,403 | +€44,514 | +5.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €783,860 | €828,374 | +€44,514 | +5.7% |
| Distributable reserves | 133 | €783,860 | €828,374 | +€44,514 | +5.7% |
| Profit (loss) carried forward | 14 | €83,830 | €83,830 | = | 0.0% |
| Provisions and deferred taxes | 16 | €92,593 | €92,593 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €92,593 | €92,593 | = | 0.0% |
| Pensions and similar obligations | 160 | €92,593 | €92,593 | = | 0.0% |
| Amounts payable | 17/49 | €29,532 | €30,487 | +€955 | +3.2% |
| Amounts payable within one year | 42/48 | €29,532 | €30,487 | +€955 | +3.2% |
| Financial debts | 43 | €490 | €59 | -€431 | -88.0% |
| Credit institutions | 430/8 | €490 | €59 | -€431 | -88.0% |
| Trade debts | 44 | €4,412 | €2,454 | -€1,958 | -44.4% |
| Suppliers | 440/4 | €4,412 | €2,454 | -€1,958 | -44.4% |
| Taxes, remuneration and social security | 45 | €15,399 | €16,828 | +€1,429 | +9.3% |
| Taxes | 450/3 | €15,399 | €16,828 | +€1,429 | +9.3% |
| Other amounts payable | 47/48 | €9,232 | €11,147 | +€1,915 | +20.7% |
| Non-recurring operating income | 76A | €4,434 | €652 | -€3,783 | -85.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,749 | €40,740 | -€9 | 0.0% |
| Other operating charges | 640/8 | €7,296 | €7,341 | +€45 | +0.6% |
| Gross operating margin | 9900 | €127,645 | €121,465 | -€6,180 | -4.8% |
| Operating profit (loss) | 9901 | €79,600 | €73,385 | -€6,215 | -7.8% |
| Financial income | 75/76B | €6,630 | €13,754 | +€7,124 | +107.4% |
| Recurring financial income | 75 | €6,630 | €13,754 | +€7,124 | +107.4% |
| Financial charges | 65/66B | €2,509 | €3,895 | +€1,386 | +55.2% |
| Recurring financial charges | 65 | €2,509 | €3,895 | +€1,386 | +55.2% |
| Profit (loss) for the period before taxes | 9903 | €83,721 | €83,244 | -€477 | -0.6% |
| Income taxes | 67/77 | €23,329 | €23,730 | +€401 | +1.7% |
| Profit (loss) for the period | 9904 | €60,392 | €59,514 | -€878 | -1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €60,392 | €59,514 | -€878 | -1.5% |
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 11 October 2026 via checked.be.