VEDECO: 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.
VEDECO
Largest movements
- Receivables after one year -€559,266
down €559,266 (-33.6%), from €1.7m to €1.1m
- Tangible fixed assets +€543,043
up €543,043 (+13.5%), from €4.0m to €4.6m
of which Land and buildings: +€520,768
- Cash +€289,881
up €289,881 (+14.7%), from €2.0m to €2.3m
mainly Receivables after one year (+€559,266) and Net result for the year (+€404,700)
- Profit (loss) carried forward +€304,700
up €304,700 (+4.1%), from €7.4m to €7.7m
- Other debts +€112,150
new in 2025: €112,150
- Reserves -€100,000
down €100,000 (-41.3%), from €241,979 to €141,979
of which Distributable reserves: -€100,000
- Gross operating margin +€149,588
up €149,588 (+27.9%), from €536,745 to €686,333
- Financial charges -€113,698
down €113,698 (-68.9%), from €165,083 to €51,385
of which Non-recurring financial charges: -€110,882
- Depreciation +€37,080
up €37,080 (+33.6%), from €110,453 to €147,533
- Taxes -€21,194
down €21,194 (-18.1%), from €116,802 to €95,609
- Other operating charges +€14,570
up €14,570 (+95.1%), from €15,326 to €29,896
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 | €7,710,197 | €8,028,234 | +€318,037 | +4.1% |
| Fixed assets | 21/28 | €4,026,411 | €4,569,454 | +€543,043 | +13.5% |
| Tangible fixed assets | 22/27 | €4,025,816 | €4,568,859 | +€543,043 | +13.5% |
| Land and buildings | 22 | €3,892,145 | €4,412,913 | +€520,768 | +13.4% |
| Plant, machinery and equipment | 23 | €47,134 | €38,225 | -€8,909 | -18.9% |
| Furniture and vehicles | 24 | €86,537 | €117,721 | +€31,184 | +36.0% |
| Financial fixed assets | 28 | €595 | €595 | = | 0.0% |
| Current assets | 29/58 | €3,683,786 | €3,458,780 | -€225,006 | -6.1% |
| Amounts receivable after more than one year | 29 | €1,663,489 | €1,104,223 | -€559,266 | -33.6% |
| Other amounts receivable | 291 | €1,663,489 | €1,104,223 | -€559,266 | -33.6% |
| Amounts receivable within one year | 40/41 | €9,030 | €70,894 | +€61,864 | +685% |
| Trade receivables | 40 | €146 | €56,144 | +€55,998 | +38,400% |
| Other amounts receivable | 41 | €8,885 | €14,750 | +€5,865 | +66.0% |
| Current investments | 50/53 | €24,794 | €15,910 | -€8,884 | -35.8% |
| Cash at bank and in hand | 54/58 | €1,971,415 | €2,261,297 | +€289,881 | +14.7% |
| Deferred charges and accrued income | 490/1 | €15,057 | €6,456 | -€8,601 | -57.1% |
| Total equity and liabilities | 10/49 | €7,710,197 | €8,028,234 | +€318,037 | +4.1% |
| Equity | 10/15 | €7,684,012 | €7,888,712 | +€204,700 | +2.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €241,979 | €141,979 | -€100,000 | -41.3% |
| Non-distributable reserves | 130/1 | €51,250 | €51,250 | = | 0.0% |
| Legal reserve | 130 | €51,250 | €51,250 | = | 0.0% |
| Distributable reserves | 133 | €190,729 | €90,729 | -€100,000 | -52.4% |
| Profit (loss) carried forward | 14 | €7,380,033 | €7,684,733 | +€304,700 | +4.1% |
| Amounts payable | 17/49 | €26,185 | €139,522 | +€113,337 | +433% |
| Amounts payable within one year | 42/48 | €26,185 | €139,522 | +€113,337 | +433% |
| Trade debts | 44 | €3,572 | €163 | -€3,409 | -95.4% |
| Suppliers | 440/4 | €3,572 | €163 | -€3,409 | -95.4% |
| Taxes, remuneration and social security | 45 | €22,613 | €27,209 | +€4,596 | +20.3% |
| Taxes | 450/3 | €13,662 | €21,415 | +€7,753 | +56.8% |
| Remuneration and social security | 454/9 | €8,951 | €5,794 | -€3,158 | -35.3% |
| Other amounts payable | 47/48 | - | €112,150 | +€112,150 | |
| Remuneration, social security and pensions | 62 | €20,810 | €20,839 | +€29 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,453 | €147,533 | +€37,080 | +33.6% |
| Other operating charges | 640/8 | €15,326 | €29,896 | +€14,570 | +95.1% |
| Gross operating margin | 9900 | €536,745 | €686,333 | +€149,588 | +27.9% |
| Operating profit (loss) | 9901 | €390,156 | €488,065 | +€97,909 | +25.1% |
| Financial income | 75/76B | €62,919 | €63,629 | +€709 | +1.1% |
| Recurring financial income | 75 | €62,919 | €63,629 | +€709 | +1.1% |
| Financial charges | 65/66B | €165,083 | €51,385 | -€113,698 | -68.9% |
| Recurring financial charges | 65 | €4,201 | €1,385 | -€2,816 | -67.0% |
| Non-recurring financial charges | 66B | €160,882 | €50,000 | -€110,882 | -68.9% |
| Profit (loss) for the period before taxes | 9903 | €287,992 | €500,308 | +€212,317 | +73.7% |
| Income taxes | 67/77 | €116,802 | €95,609 | -€21,194 | -18.1% |
| Profit (loss) for the period | 9904 | €171,189 | €404,700 | +€233,510 | +136% |
| Profit (loss) for the period to be appropriated | 9905 | €171,189 | €404,700 | +€233,510 | +136% |
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 17 October 2026 via checked.be.