VEDETEX: 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.
VEDETEX
Largest movements
- Current investments +€53,824
up €53,824 (+6.7%), from €804,636 to €858,460
- Cash +€43,541
up €43,541 (+51.0%), from €85,420 to €128,961
mainly Net result for the year (+€243,389) and Receivables within one year (+€20,992)
- Receivables within one year -€20,992
down €20,992 (-13.1%), from €159,975 to €138,982
of which Trade receivables: -€20,680
- Tangible fixed assets -€15,675
down €15,675 (-26.0%), from €60,283 to €44,608
of which Furniture and vehicles: -€15,106
- Reserves +€243,389
up €243,389 (+47.6%), from €511,439 to €754,828
- Trade debts -€107,937
down €107,937 (-24.5%), from €439,809 to €331,872
- Tax, wage and social debts -€95,792
down €95,792 (-61.1%), from €156,711 to €60,919
of which Taxes: -€90,904
- Accrued charges and deferred income +€16,126
new in 2025: €16,126
- Gross operating margin -€199,736
down €199,736 (-35.8%), from €558,588 to €358,851
- Taxes -€61,943
down €61,943 (-36.1%), from €171,646 to €109,703
- Financial income +€6,596
up €6,596 (+76.6%), from €8,615 to €15,211
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 | €1,118,484 | €1,178,633 | +€60,149 | +5.4% |
| Formation expenses | 20 | €3,514 | €2,370 | -€1,144 | -32.5% |
| Fixed assets | 21/28 | €60,783 | €45,108 | -€15,675 | -25.8% |
| Tangible fixed assets | 22/27 | €60,283 | €44,608 | -€15,675 | -26.0% |
| Plant, machinery and equipment | 23 | €569 | - | -€569 | |
| Furniture and vehicles | 24 | €59,714 | €44,608 | -€15,106 | -25.3% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €1,054,187 | €1,131,154 | +€76,968 | +7.3% |
| Amounts receivable within one year | 40/41 | €159,975 | €138,982 | -€20,992 | -13.1% |
| Trade receivables | 40 | €159,663 | €138,982 | -€20,680 | -13.0% |
| Other amounts receivable | 41 | €312 | - | -€312 | |
| Current investments | 50/53 | €804,636 | €858,460 | +€53,824 | +6.7% |
| Cash at bank and in hand | 54/58 | €85,420 | €128,961 | +€43,541 | +51.0% |
| Deferred charges and accrued income | 490/1 | €4,157 | €4,751 | +€595 | +14.3% |
| Total equity and liabilities | 10/49 | €1,118,484 | €1,178,633 | +€60,149 | +5.4% |
| Equity | 10/15 | €521,439 | €764,828 | +€243,389 | +46.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €511,439 | €754,828 | +€243,389 | +47.6% |
| Distributable reserves | 133 | €511,439 | €754,828 | +€243,389 | +47.6% |
| Amounts payable | 17/49 | €597,045 | €413,805 | -€183,240 | -30.7% |
| Amounts payable within one year | 42/48 | €597,045 | €397,679 | -€199,366 | -33.4% |
| Financial debts | 43 | €525 | €240 | -€286 | -54.4% |
| Credit institutions | 430/8 | €525 | €240 | -€286 | -54.4% |
| Trade debts | 44 | €439,809 | €331,872 | -€107,937 | -24.5% |
| Suppliers | 440/4 | €439,809 | €331,872 | -€107,937 | -24.5% |
| Taxes, remuneration and social security | 45 | €156,711 | €60,919 | -€95,792 | -61.1% |
| Taxes | 450/3 | €151,823 | €60,919 | -€90,904 | -59.9% |
| Remuneration and social security | 454/9 | €4,888 | - | -€4,888 | |
| Other amounts payable | 47/48 | - | €4,648 | +€4,648 | |
| Accrued charges and deferred income | 492/3 | - | €16,126 | +€16,126 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,044 | €16,250 | +€206 | +1.3% |
| Other operating charges | 640/8 | €837 | €1,131 | +€293 | +35.1% |
| Non-recurring operating charges | 66A | - | €569 | +€569 | |
| Gross operating margin | 9900 | €558,588 | €358,851 | -€199,736 | -35.8% |
| Operating profit (loss) | 9901 | €541,707 | €340,902 | -€200,805 | -37.1% |
| Financial income | 75/76B | €8,615 | €15,211 | +€6,596 | +76.6% |
| Recurring financial income | 75 | €8,615 | €15,211 | +€6,596 | +76.6% |
| Financial charges | 65/66B | €3,210 | €3,021 | -€190 | -5.9% |
| Recurring financial charges | 65 | €3,210 | €3,021 | -€190 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €547,111 | €353,092 | -€194,019 | -35.5% |
| Income taxes | 67/77 | €171,646 | €109,703 | -€61,943 | -36.1% |
| Profit (loss) for the period | 9904 | €375,465 | €243,389 | -€132,076 | -35.2% |
| Profit (loss) for the period to be appropriated | 9905 | €375,465 | €243,389 | -€132,076 | -35.2% |
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.