Vega: 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.
What changed
Vega
NACE 46.646, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€432,569
2024 · €613,671-€181,102
Equity
€9.2m
2024 · €8.8m+€432,569
Cash
€1.7m
2024 · €3.3m-€1.6m
Balance sheet total
€9.7m
2024 · €9.6m+€134,899
Largest movements
Assets
- Cash -€1.6m
down €1.6m (-49.2%), from €3.3m to €1.7m
mainly Investment in fixed assets (net) (-€1.3m) and Receivables within one year (-€843,575)
- Tangible fixed assets +€960,367
up €960,367 (+22.1%), from €4.4m to €5.3m
of which Land and buildings: +€4.7m
- Receivables within one year +€843,575
up €843,575 (+49.7%), from €1.7m to €2.5m
of which Trade receivables: +€768,008
Equity and liabilities
- Profit (loss) carried forward +€432,569
up €432,569 (+5.5%), from €7.8m to €8.2m
- Trade debts -€239,207
down €239,207 (-69.6%), from €343,764 to €104,557
Income statement
- Goods and materials -€1.2m
down €1.2m (-14.3%), from €8.2m to €7.0m
of which Purchases: -€951,517
- Turnover -€896,540
down €896,540 (-7.7%), from €11.6m to €10.7m
- Depreciation +€290,854
up €290,854 (+313%), from €93,069 to €383,924
- Staff costs +€145,652
up €145,652 (+9.3%), from €1.6m to €1.7m
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.
Result 2024
€613,671
Turnover
-€896,540
Other operating income
+€14,130
Goods and materials
+€1.2m
Services and other goods
-€92,057
Staff costs
-€145,652
Depreciation
-€290,854
Write-downs
+€31,561
Other operating charges
+€1,439
Other operating items
-€1,759
Financial income
-€32,369
Financial charges
+€3,309
Taxes
+€65,973
Result 2025
€432,569
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€303,723
Investment
-€1.3m
Financing
-€0
Cash 2024
€3.3m
From operations (derived)
-€303,723
Net result for the year
+€432,569
Depreciation
+€383,924
Stocks and contracts
+€38,163
Receivables within one year
-€843,575
Deferred charges and accrued income
-€17,133
Trade debts
-€239,207
Tax, wage and social debts
-€57,946
Accrued charges and deferred income
-€518
Investment (derived)
-€1.3m
Investment in fixed assets (net)
-€1.3m
Financing
-€0
Contributions, distributions and other
-€0
Cash 2025
€1.7m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,586,648 | €9,721,548 | +€134,899 | +1.4% |
| Fixed assets | 21/28 | €4,355,364 | €5,315,731 | +€960,367 | +22.1% |
| Tangible fixed assets | 22/27 | €4,355,364 | €5,315,731 | +€960,367 | +22.1% |
| Land and buildings | 22 | €28,906 | €4,737,437 | +€4.7m | +16,289% |
| Plant, machinery and equipment | 23 | €59,018 | €129,303 | +€70,284 | +119% |
| Furniture and vehicles | 24 | €157,282 | €448,992 | +€291,710 | +185% |
| Assets under construction and advance payments | 27 | €4,110,158 | - | -€4.1m | |
| Current assets | 29/58 | €5,231,285 | €4,405,817 | -€825,468 | -15.8% |
| Stocks and contracts in progress | 3 | €125,147 | €86,984 | -€38,163 | -30.5% |
| Stocks | 30/36 | €125,147 | €86,984 | -€38,163 | -30.5% |
| Goods purchased for resale | 34 | €125,147 | €86,984 | -€38,163 | -30.5% |
| Amounts receivable within one year | 40/41 | €1,698,556 | €2,542,131 | +€843,575 | +49.7% |
| Trade receivables | 40 | €1,698,556 | €2,466,563 | +€768,008 | +45.2% |
| Other amounts receivable | 41 | - | €75,567 | +€75,567 | |
| Cash at bank and in hand | 54/58 | €3,348,187 | €1,700,174 | -€1.6m | -49.2% |
| Deferred charges and accrued income | 490/1 | €59,395 | €76,528 | +€17,133 | +28.8% |
| Total equity and liabilities | 10/49 | €9,586,648 | €9,721,548 | +€134,899 | +1.4% |
| Equity | 10/15 | €8,795,364 | €9,227,933 | +€432,569 | +4.9% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €888,123 | €888,123 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €27,542 | €27,542 | = | 0.0% |
| Distributable reserves | 133 | €850,581 | €850,581 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,807,241 | €8,239,810 | +€432,569 | +5.5% |
| Amounts payable | 17/49 | €791,285 | €493,615 | -€297,670 | -37.6% |
| Amounts payable within one year | 42/48 | €789,246 | €492,093 | -€297,153 | -37.7% |
| Trade debts | 44 | €343,764 | €104,557 | -€239,207 | -69.6% |
| Suppliers | 440/4 | €343,764 | €104,557 | -€239,207 | -69.6% |
| Taxes, remuneration and social security | 45 | €445,482 | €387,537 | -€57,946 | -13.0% |
| Taxes | 450/3 | €188,592 | €162,022 | -€26,569 | -14.1% |
| Remuneration and social security | 454/9 | €256,891 | €225,514 | -€31,376 | -12.2% |
| Accrued charges and deferred income | 492/3 | €2,039 | €1,521 | -€518 | -25.4% |
| Operating income | 70/76A | €11,648,763 | €10,764,594 | -€884,169 | -7.6% |
| Turnover | 70 | €11,598,551 | €10,702,011 | -€896,540 | -7.7% |
| Other operating income | 74 | €41,339 | €55,468 | +€14,130 | +34.2% |
| Non-recurring operating income | 76A | €8,874 | €7,115 | -€1,759 | -19.8% |
| Operating charges | 60/66A | €10,843,773 | €10,177,619 | -€666,154 | -6.1% |
| Goods for resale, raw materials and consumables | 60 | €8,150,375 | €6,988,659 | -€1.2m | -14.3% |
| Purchases | 600/8 | €7,902,013 | €6,950,496 | -€951,517 | -12.0% |
| Change in stocks: decrease (increase) | 609 | €248,362 | €38,163 | -€210,199 | -84.6% |
| Services and other goods | 61 | €970,805 | €1,062,863 | +€92,057 | +9.5% |
| Remuneration, social security and pensions | 62 | €1,563,074 | €1,708,725 | +€145,652 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,069 | €383,924 | +€290,854 | +313% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €46,578 | €15,017 | -€31,561 | -67.8% |
| Other operating charges | 640/8 | €19,871 | €18,431 | -€1,439 | -7.2% |
| Operating profit (loss) | 9901 | €804,990 | €586,975 | -€218,015 | -27.1% |
| Financial income | 75/76B | €54,670 | €22,301 | -€32,369 | -59.2% |
| Recurring financial income | 75 | €54,670 | €22,301 | -€32,369 | -59.2% |
| Income from current assets | 751 | €54,670 | €22,301 | -€32,369 | -59.2% |
| Other financial income | 752/9 | €0 | €0 | +€0 | +350% |
| Financial charges | 65/66B | €6,200 | €2,891 | -€3,309 | -53.4% |
| Recurring financial charges | 65 | €6,200 | €2,891 | -€3,309 | -53.4% |
| Other financial charges | 652/9 | €6,200 | €2,891 | -€3,309 | -53.4% |
| Profit (loss) for the period before taxes | 9903 | €853,459 | €606,384 | -€247,074 | -28.9% |
| Income taxes | 67/77 | €239,788 | €173,815 | -€65,973 | -27.5% |
| Taxes | 670/3 | €239,788 | €173,815 | -€65,973 | -27.5% |
| Profit (loss) for the period | 9904 | €613,671 | €432,569 | -€181,102 | -29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €613,671 | €432,569 | -€181,102 | -29.5% |
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 15 October 2026 via checked.be.