VEDOCO: 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.
VEDOCO
Largest movements
- Cash +€49,590
up €49,590 (+52.3%), from €94,772 to €144,363
mainly Net result for the year (+€41,783) and Trade debts (+€26,367)
- Tangible fixed assets -€19,979
down €19,979 (-20.4%), from €98,087 to €78,107
of which Furniture and vehicles: -€11,487
- Stocks and contracts -€6,928
down €6,928 (-33.6%), from €20,614 to €13,686
- Other debts -€28,880
down €28,880 (-14.8%), from €194,909 to €166,029
- Trade debts +€26,367
up €26,367 (+332%), from €7,952 to €34,319
- Reserves +€25,000
up €25,000 (+14.4%), from €173,600 to €198,600
- Gross operating margin -€4,304
down €4,304 (-2.5%), from €171,910 to €167,606
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 | €497,307 | €519,798 | +€22,491 | +4.5% |
| Fixed assets | 21/28 | €98,087 | €78,107 | -€19,979 | -20.4% |
| Tangible fixed assets | 22/27 | €98,087 | €78,107 | -€19,979 | -20.4% |
| Land and buildings | 22 | €42,718 | €39,994 | -€2,724 | -6.4% |
| Plant, machinery and equipment | 23 | €16,818 | €11,049 | -€5,769 | -34.3% |
| Furniture and vehicles | 24 | €38,551 | €27,064 | -€11,487 | -29.8% |
| Current assets | 29/58 | €399,220 | €441,691 | +€42,471 | +10.6% |
| Stocks and contracts in progress | 3 | €20,614 | €13,686 | -€6,928 | -33.6% |
| Stocks | 30/36 | €20,614 | €13,686 | -€6,928 | -33.6% |
| Amounts receivable within one year | 40/41 | €82,604 | €81,089 | -€1,515 | -1.8% |
| Trade receivables | 40 | €80,647 | €77,889 | -€2,758 | -3.4% |
| Other amounts receivable | 41 | €1,957 | €3,200 | +€1,243 | +63.5% |
| Current investments | 50/53 | €200,000 | €200,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €94,772 | €144,363 | +€49,590 | +52.3% |
| Deferred charges and accrued income | 490/1 | €1,230 | €2,553 | +€1,324 | +108% |
| Total equity and liabilities | 10/49 | €497,307 | €519,798 | +€22,491 | +4.5% |
| Equity | 10/15 | €278,449 | €305,233 | +€26,783 | +9.6% |
| Contributions | 10/11 | €24,000 | €24,000 | = | 0.0% |
| Reserves | 13 | €173,600 | €198,600 | +€25,000 | +14.4% |
| Distributable reserves | 133 | €173,600 | €198,600 | +€25,000 | +14.4% |
| Profit (loss) carried forward | 14 | €80,849 | €82,633 | +€1,783 | +2.2% |
| Amounts payable | 17/49 | €218,858 | €214,566 | -€4,292 | -2.0% |
| Amounts payable within one year | 42/48 | €218,858 | €214,566 | -€4,292 | -2.0% |
| Trade debts | 44 | €7,952 | €34,319 | +€26,367 | +332% |
| Suppliers | 440/4 | €7,952 | €34,319 | +€26,367 | +332% |
| Taxes, remuneration and social security | 45 | €15,996 | €14,217 | -€1,779 | -11.1% |
| Taxes | 450/3 | €4,744 | €4,043 | -€701 | -14.8% |
| Remuneration and social security | 454/9 | €11,252 | €10,175 | -€1,077 | -9.6% |
| Other amounts payable | 47/48 | €194,909 | €166,029 | -€28,880 | -14.8% |
| Non-recurring operating income | 76A | - | €796 | +€796 | |
| Remuneration, social security and pensions | 62 | €91,819 | €90,856 | -€963 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,979 | €19,979 | = | 0.0% |
| Other operating charges | 640/8 | €2,140 | €2,063 | -€77 | -3.6% |
| Gross operating margin | 9900 | €171,910 | €167,606 | -€4,304 | -2.5% |
| Operating profit (loss) | 9901 | €57,971 | €54,708 | -€3,264 | -5.6% |
| Financial income | 75/76B | €5,416 | €4,120 | -€1,296 | -23.9% |
| Recurring financial income | 75 | €5,416 | €4,120 | -€1,296 | -23.9% |
| Financial charges | 65/66B | €4,242 | €3,341 | -€901 | -21.2% |
| Recurring financial charges | 65 | €4,242 | €3,341 | -€901 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | €59,146 | €55,486 | -€3,659 | -6.2% |
| Income taxes | 67/77 | €14,291 | €13,703 | -€587 | -4.1% |
| Profit (loss) for the period | 9904 | €44,855 | €41,783 | -€3,072 | -6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €44,855 | €41,783 | -€3,072 | -6.8% |
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 24 October 2026 via checked.be.