Vecubo: 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.
Vecubo
Largest movements
- Receivables within one year -€32,722
down €32,722 (-29.4%), from €111,256 to €78,534
of which Trade receivables: -€38,650
- Deferred charges and accrued income -€4,018
no longer reported in 2025 (was €4,018)
- Tangible fixed assets -€2,962
down €2,962 (-100%), from €2,962 to €0
- Profit (loss) carried forward -€35,599
down €35,599 (-54.7%), from €65,061 to €29,462
- Debts after one year +€19,865
new in 2025: €19,865
- Short-term financial debts -€14,501
down €14,501 (-49.5%), from €29,292 to €14,791
- Current portion of long-term debt -€4,556
no longer reported in 2025 (was €4,556)
- Tax, wage and social debts -€3,083
down €3,083 (-36.8%), from €8,376 to €5,293
- Gross operating margin -€71,127
down €71,127, from €41,270 to -€29,857
- Taxes -€7,316
no longer reported in 2025 (was €7,316)
- Depreciation -€3,150
down €3,150 (-51.5%), from €6,111 to €2,961
- Other operating charges +€1,585
up €1,585 (+149%), from €1,062 to €2,647
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €118,236 | €78,534 | -€39,702 | -33.6% |
| Fixed assets | 21/28 | €2,962 | €0 | -€2,962 | -100% |
| Tangible fixed assets | 22/27 | €2,962 | €0 | -€2,962 | -100% |
| Furniture and vehicles | 24 | €2,962 | €0 | -€2,962 | -100% |
| Current assets | 29/58 | €115,274 | €78,534 | -€36,740 | -31.9% |
| Amounts receivable within one year | 40/41 | €111,256 | €78,534 | -€32,722 | -29.4% |
| Trade receivables | 40 | €38,650 | €0 | -€38,650 | -100% |
| Other amounts receivable | 41 | €72,605 | €78,534 | +€5,929 | +8.2% |
| Deferred charges and accrued income | 490/1 | €4,018 | - | -€4,018 | |
| Total equity and liabilities | 10/49 | €118,236 | €78,534 | -€39,702 | -33.6% |
| Equity | 10/15 | €71,261 | €35,662 | -€35,599 | -50.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,061 | €29,462 | -€35,599 | -54.7% |
| Amounts payable | 17/49 | €46,974 | €42,872 | -€4,102 | -8.7% |
| Amounts payable after more than one year | 17 | - | €19,865 | +€19,865 | |
| Financial debts | 170/4 | - | €19,865 | +€19,865 | |
| Amounts payable within one year | 42/48 | €46,974 | €23,007 | -€23,967 | -51.0% |
| Current portion of amounts payable after more than one year | 42 | €4,556 | - | -€4,556 | |
| Financial debts | 43 | €29,292 | €14,791 | -€14,501 | -49.5% |
| Credit institutions | 430/8 | €29,292 | €14,791 | -€14,501 | -49.5% |
| Trade debts | 44 | €4,750 | €2,923 | -€1,827 | -38.5% |
| Suppliers | 440/4 | €4,750 | €2,923 | -€1,827 | -38.5% |
| Taxes, remuneration and social security | 45 | €8,376 | €5,293 | -€3,083 | -36.8% |
| Taxes | 450/3 | €8,376 | €5,293 | -€3,083 | -36.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,111 | €2,961 | -€3,150 | -51.5% |
| Other operating charges | 640/8 | €1,062 | €2,647 | +€1,585 | +149% |
| Gross operating margin | 9900 | €41,270 | -€29,857 | -€71,127 | |
| Operating profit (loss) | 9901 | €34,097 | -€35,465 | -€69,562 | |
| Financial income | 75/76B | €4,044 | €4,366 | +€322 | +8.0% |
| Recurring financial income | 75 | €4,044 | €4,366 | +€322 | +8.0% |
| Financial charges | 65/66B | €4,579 | €4,500 | -€79 | -1.7% |
| Recurring financial charges | 65 | €4,579 | €4,500 | -€79 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €33,561 | -€35,599 | -€69,160 | |
| Income taxes | 67/77 | €7,316 | - | -€7,316 | |
| Profit (loss) for the period | 9904 | €26,245 | -€35,599 | -€61,844 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,245 | -€35,599 | -€61,844 |
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.