VEDESCO: 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.
VEDESCO
Largest movements
- Deferred charges and accrued income +€65,577
up €65,577 (+39,998%), from €164 to €65,741
- Receivables within one year -€43,587
down €43,587 (-11.6%), from €377,032 to €333,446
- Tangible fixed assets -€22,287
down €22,287 (-8.0%), from €279,359 to €257,073
of which Other tangible fixed assets: -€22,287
- Cash +€17,654
up €17,654 (+80.5%), from €21,943 to €39,597
mainly Receivables within one year (+€43,587) and Other debts (+€24,970)
- Financial fixed assets -€15,000
no longer reported in 2025 (was €15,000)
- Profit (loss) carried forward -€30,731
down €30,731, from €13,354 to -€17,376
- Other debts +€24,970
up €24,970 (+8.3%), from €300,030 to €325,000
- Trade debts +€23,204
up €23,204 (+15.2%), from €152,329 to €175,532
- Debts after one year -€15,000
no longer reported in 2025 (was €15,000)
- Gross operating margin -€376,225
down €376,225, from €319,827 to -€56,398
- Financial income +€45,570
up €45,570 (+130%), from €35,001 to €80,571
- Other operating charges -€33,650
down €33,650 (-50.9%), from €66,114 to €32,464
- Taxes -€18,436
no longer reported in 2025 (was €18,436)
- Depreciation -€8,173
down €8,173 (-26.8%), from €30,459 to €22,287
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 | €1,203,457 | €1,205,900 | +€2,443 | +0.2% |
| Fixed assets | 21/28 | €294,359 | €257,073 | -€37,287 | -12.7% |
| Tangible fixed assets | 22/27 | €279,359 | €257,073 | -€22,287 | -8.0% |
| Land and buildings | 22 | €10,000 | €10,000 | = | 0.0% |
| Other tangible fixed assets | 26 | €269,359 | €247,073 | -€22,287 | -8.3% |
| Financial fixed assets | 28 | €15,000 | - | -€15,000 | |
| Current assets | 29/58 | €909,098 | €948,828 | +€39,729 | +4.4% |
| Stocks and contracts in progress | 3 | €509,959 | €510,044 | +€85 | 0.0% |
| Stocks | 30/36 | €509,959 | €510,044 | +€85 | 0.0% |
| Amounts receivable within one year | 40/41 | €377,032 | €333,446 | -€43,587 | -11.6% |
| Other amounts receivable | 41 | €377,032 | €333,446 | -€43,587 | -11.6% |
| Cash at bank and in hand | 54/58 | €21,943 | €39,597 | +€17,654 | +80.5% |
| Deferred charges and accrued income | 490/1 | €164 | €65,741 | +€65,577 | +39,998% |
| Total equity and liabilities | 10/49 | €1,203,457 | €1,205,900 | +€2,443 | +0.2% |
| Equity | 10/15 | €736,099 | €705,368 | -€30,731 | -4.2% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Capital | 10 | €350,000 | €350,000 | = | 0.0% |
| Issued capital | 100 | €350,000 | €350,000 | = | 0.0% |
| Revaluation surpluses | 12 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €272,744 | €272,744 | = | 0.0% |
| Non-distributable reserves | 130/1 | €35,000 | €35,000 | = | 0.0% |
| Legal reserve | 130 | €35,000 | €35,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,298 | €1,298 | = | 0.0% |
| Distributable reserves | 133 | €236,447 | €236,447 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,354 | -€17,376 | -€30,731 | |
| Amounts payable | 17/49 | €467,359 | €500,532 | +€33,174 | +7.1% |
| Amounts payable after more than one year | 17 | €15,000 | - | -€15,000 | |
| Other amounts payable | 178/9 | €15,000 | - | -€15,000 | |
| Amounts payable within one year | 42/48 | €452,359 | €500,532 | +€48,174 | +10.6% |
| Trade debts | 44 | €152,329 | €175,532 | +€23,204 | +15.2% |
| Suppliers | 440/4 | €152,329 | €175,532 | +€23,204 | +15.2% |
| Other amounts payable | 47/48 | €300,030 | €325,000 | +€24,970 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,459 | €22,287 | -€8,173 | -26.8% |
| Other operating charges | 640/8 | €66,114 | €32,464 | -€33,650 | -50.9% |
| Gross operating margin | 9900 | €319,827 | -€56,398 | -€376,225 | |
| Operating profit (loss) | 9901 | €223,254 | -€111,149 | -€334,403 | |
| Financial income | 75/76B | €35,001 | €80,571 | +€45,570 | +130% |
| Recurring financial income | 75 | €35,001 | €80,571 | +€45,570 | +130% |
| Financial charges | 65/66B | €132 | €153 | +€21 | +15.9% |
| Recurring financial charges | 65 | €132 | €153 | +€21 | +15.9% |
| Profit (loss) for the period before taxes | 9903 | €258,123 | -€30,731 | -€288,853 | |
| Income taxes | 67/77 | €18,436 | - | -€18,436 | |
| Profit (loss) for the period | 9904 | €239,686 | -€30,731 | -€270,417 | |
| Profit (loss) for the period to be appropriated | 9905 | €239,686 | -€30,731 | -€270,417 |
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.