VEDECO: what changed
Two fiscal 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
No asset line moved by more than 1% of the balance sheet total.
- Other debts +€54,673
up €54,673 (+19.8%), from €275,483 to €330,156
- Trade debts +€49,388
up €49,388, from €0 to €49,388
- Accrued charges and deferred income -€41,620
down €41,620 (-100.0%), from €41,620 to €0
- Reserves -€38,621
down €38,621 (-26.1%), from €148,009 to €109,387
of which Distributable reserves: -€38,621
- Debts after one year -€16,209
down €16,209 (-14.5%), from €111,748 to €95,539
- Other operating charges +€57,221
up €57,221 (+2111.2%), from €2,710 to €59,931
- Taxes -€4,699
down €4,699 (-100.0%), from €4,699 to €0
- Financial charges +€2,897
up €2,897 (+50.3%), from €5,756 to €8,653
- Gross operating margin +€2,700
up €2,700 (+9.9%), from €27,263 to €29,963
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 | €1,539,219 | €1,542,675 | +€3,455 | +0.2% |
| Fixed assets | 21/28 | €1,536,456 | €1,536,456 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1,536,456 | €1,536,456 | = | 0.0% |
| Land and buildings | 22 | €1,536,456 | €1,536,456 | = | 0.0% |
| Current assets | 29/58 | €2,764 | €6,219 | +€3,455 | +125.0% |
| Amounts receivable within one year | 40/41 | €801 | €5,500 | +€4,699 | +586.8% |
| Other amounts receivable | 41 | €801 | €5,500 | +€4,699 | +586.8% |
| Cash at bank and in hand | 54/58 | €1,963 | €410 | -€1,553 | -79.1% |
| Deferred charges and accrued income | 490/1 | - | €309 | +€309 | |
| Total equity and liabilities | 10/49 | €1,539,219 | €1,542,675 | +€3,455 | +0.2% |
| Equity | 10/15 | €1,090,004 | €1,051,383 | -€38,621 | -3.5% |
| Contributions | 10/11 | €941,995 | €941,995 | = | 0.0% |
| Capital | 10 | €941,995 | €941,995 | = | 0.0% |
| Issued capital | 100 | €941,995 | €941,995 | = | 0.0% |
| Reserves | 13 | €148,009 | €109,387 | -€38,621 | -26.1% |
| Non-distributable reserves | 130/1 | €47,787 | €47,787 | = | 0.0% |
| Legal reserve | 130 | €47,787 | €47,787 | = | 0.0% |
| Distributable reserves | 133 | €100,221 | €61,600 | -€38,621 | -38.5% |
| Amounts payable | 17/49 | €449,215 | €491,292 | +€42,077 | +9.4% |
| Amounts payable after more than one year | 17 | €111,748 | €95,539 | -€16,209 | -14.5% |
| Financial debts | 170/4 | €111,748 | €95,539 | -€16,209 | -14.5% |
| Amounts payable within one year | 42/48 | €295,847 | €395,753 | +€99,906 | +33.8% |
| Current portion of amounts payable after more than one year | 42 | €15,710 | €16,209 | +€499 | +3.2% |
| Trade debts | 44 | €0 | €49,388 | +€49,388 | |
| Suppliers | 440/4 | €0 | €49,388 | +€49,388 | |
| Taxes, remuneration and social security | 45 | €4,653 | €0 | -€4,653 | -100.0% |
| Taxes | 450/3 | €4,653 | €0 | -€4,653 | -100.0% |
| Other amounts payable | 47/48 | €275,483 | €330,156 | +€54,673 | +19.8% |
| Accrued charges and deferred income | 492/3 | €41,620 | €0 | -€41,620 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €2,710 | €59,931 | +€57,221 | +2111.2% |
| Gross operating margin | 9900 | €27,263 | €29,963 | +€2,700 | +9.9% |
| Operating profit (loss) | 9901 | €24,553 | -€29,968 | -€54,521 | |
| Financial charges | 65/66B | €5,756 | €8,653 | +€2,897 | +50.3% |
| Recurring financial charges | 65 | €5,756 | €8,653 | +€2,897 | +50.3% |
| Profit (loss) for the period before taxes | 9903 | €18,797 | -€38,621 | -€57,418 | |
| Income taxes | 67/77 | €4,699 | €0 | -€4,699 | -100.0% |
| Profit (loss) for the period | 9904 | €14,098 | -€38,621 | -€52,719 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,098 | -€38,621 | -€52,719 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.