VeDeBeCo: 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.
VeDeBeCo
Largest movements
- Cash +€51,921
up €51,921 (+40.3%), from €128,973 to €180,894
mainly Net result for the year (+€55,991) and Trade debts (+€24,168)
- Stocks and contracts +€21,238
up €21,238 (+219.6%), from €9,672 to €30,909
- Tangible fixed assets -€2,832
down €2,832 (-40.3%), from €7,034 to €4,202
of which Furniture and vehicles: -€2,430
- Reserves +€55,991
up €55,991 (+32.5%), from €172,246 to €228,238
- Trade debts +€24,168
up €24,168 (+1916.3%), from €1,261 to €25,429
- Tax, wage and social debts -€4,413
down €4,413 (-91.1%), from €4,845 to €431
- Current portion of long-term debt -€3,062
down €3,062 (-100.0%), from €3,062 to €0
- Gross operating margin +€12,722
up €12,722 (+17.6%), from €72,169 to €84,891
- Taxes +€5,696
up €5,696 (+27.4%), from €20,765 to €26,461
- Depreciation -€3,233
down €3,233 (-53.3%), from €6,065 to €2,832
- Financial income +€2,321
up €2,321 (+332.7%), from €698 to €3,019
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 | €183,980 | €256,665 | +€72,685 | +39.5% |
| Fixed assets | 21/28 | €7,034 | €4,202 | -€2,832 | -40.3% |
| Tangible fixed assets | 22/27 | €7,034 | €4,202 | -€2,832 | -40.3% |
| Plant, machinery and equipment | 23 | €953 | €550 | -€402 | -42.3% |
| Furniture and vehicles | 24 | €6,081 | €3,651 | -€2,430 | -40.0% |
| Current assets | 29/58 | €176,946 | €252,464 | +€75,518 | +42.7% |
| Stocks and contracts in progress | 3 | €9,672 | €30,909 | +€21,238 | +219.6% |
| Stocks | 30/36 | €9,672 | €30,909 | +€21,238 | +219.6% |
| Amounts receivable within one year | 40/41 | €37,612 | €39,870 | +€2,258 | +6.0% |
| Trade receivables | 40 | €14,597 | €4,296 | -€10,301 | -70.6% |
| Other amounts receivable | 41 | €23,015 | €35,574 | +€12,559 | +54.6% |
| Cash at bank and in hand | 54/58 | €128,973 | €180,894 | +€51,921 | +40.3% |
| Deferred charges and accrued income | 490/1 | €689 | €790 | +€101 | +14.7% |
| Total equity and liabilities | 10/49 | €183,980 | €256,665 | +€72,685 | +39.5% |
| Equity | 10/15 | €174,746 | €230,738 | +€55,991 | +32.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €172,246 | €228,238 | +€55,991 | +32.5% |
| Distributable reserves | 133 | €172,246 | €228,238 | +€55,991 | +32.5% |
| Amounts payable | 17/49 | €9,234 | €25,928 | +€16,694 | +180.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €9,168 | €25,861 | +€16,693 | +182.1% |
| Current portion of amounts payable after more than one year | 42 | €3,062 | €0 | -€3,062 | -100.0% |
| Trade debts | 44 | €1,261 | €25,429 | +€24,168 | +1916.3% |
| Suppliers | 440/4 | €1,261 | €25,429 | +€24,168 | +1916.3% |
| Taxes, remuneration and social security | 45 | €4,845 | €431 | -€4,413 | -91.1% |
| Taxes | 450/3 | €4,845 | €431 | -€4,413 | -91.1% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,065 | €2,832 | -€3,233 | -53.3% |
| Other operating charges | 640/8 | €757 | €840 | +€83 | +10.9% |
| Gross operating margin | 9900 | €72,169 | €84,891 | +€12,722 | +17.6% |
| Operating profit (loss) | 9901 | €65,347 | €81,219 | +€15,872 | +24.3% |
| Financial income | 75/76B | €698 | €3,019 | +€2,321 | +332.7% |
| Recurring financial income | 75 | €698 | €3,019 | +€2,321 | +332.7% |
| Financial charges | 65/66B | €2,047 | €1,785 | -€263 | -12.8% |
| Recurring financial charges | 65 | €2,047 | €1,785 | -€263 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €63,997 | €82,453 | +€18,456 | +28.8% |
| Income taxes | 67/77 | €20,765 | €26,461 | +€5,696 | +27.4% |
| Profit (loss) for the period | 9904 | €43,232 | €55,991 | +€12,759 | +29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €43,232 | €55,991 | +€12,759 | +29.5% |
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.