VEHCO: 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.
VEHCO
Largest movements
- Tangible fixed assets +€2,707
new in 2025: €2,707
- Cash +€2,586
up €2,586 (+14.6%), from €17,730 to €20,316
mainly Net result for the year (+€7,459) and Tax, wage and social debts (+€1,629)
- Receivables within one year +€2,405
up €2,405 (+3541.5%), from €68 to €2,473
- Reserves +€7,459
up €7,459 (+91.5%), from €8,155 to €15,614
- Other debts -€1,846
down €1,846 (-100.0%), from €1,846 to €0
- Tax, wage and social debts +€1,629
up €1,629 (+39.6%), from €4,116 to €5,745
of which Taxes: +€1,629
- Trade debts +€273
up €273 (+38.6%), from €707 to €980
- Accrued charges and deferred income +€262
new in 2025: €262
- Gross operating margin -€3,667
down €3,667 (-24.6%), from €14,903 to €11,236
- Taxes -€714
down €714 (-19.7%), from €3,629 to €2,916
- Other operating charges +€275
up €275 (+70.9%), from €387 to €662
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 | €17,824 | €25,600 | +€7,777 | +43.6% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | - | €2,707 | +€2,707 | |
| Tangible fixed assets | 22/27 | - | €2,707 | +€2,707 | |
| Furniture and vehicles | 24 | - | €2,707 | +€2,707 | |
| Current assets | 29/58 | €17,824 | €22,893 | +€5,069 | +28.4% |
| Amounts receivable within one year | 40/41 | €68 | €2,473 | +€2,405 | +3541.5% |
| Other amounts receivable | 41 | €68 | €2,473 | +€2,405 | +3541.5% |
| Cash at bank and in hand | 54/58 | €17,730 | €20,316 | +€2,586 | +14.6% |
| Deferred charges and accrued income | 490/1 | €26 | €104 | +€78 | +304.2% |
| Total equity and liabilities | 10/49 | €17,824 | €25,600 | +€7,777 | +43.6% |
| Equity | 10/15 | €11,155 | €18,614 | +€7,459 | +66.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €8,155 | €15,614 | +€7,459 | +91.5% |
| Distributable reserves | 133 | €8,155 | €15,614 | +€7,459 | +91.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €6,669 | €6,986 | +€318 | +4.8% |
| Amounts payable within one year | 42/48 | €6,669 | €6,725 | +€56 | +0.8% |
| Trade debts | 44 | €707 | €980 | +€273 | +38.6% |
| Suppliers | 440/4 | €707 | €980 | +€273 | +38.6% |
| Taxes, remuneration and social security | 45 | €4,116 | €5,745 | +€1,629 | +39.6% |
| Taxes | 450/3 | €4,116 | €5,745 | +€1,629 | +39.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,846 | €0 | -€1,846 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €262 | +€262 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €162 | €49 | -€112 | -69.5% |
| Other operating charges | 640/8 | €387 | €662 | +€275 | +70.9% |
| Gross operating margin | 9900 | €14,903 | €11,236 | -€3,667 | -24.6% |
| Operating profit (loss) | 9901 | €14,354 | €10,524 | -€3,829 | -26.7% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €105 | €150 | +€45 | +42.9% |
| Recurring financial charges | 65 | €105 | €150 | +€45 | +42.9% |
| Profit (loss) for the period before taxes | 9903 | €14,249 | €10,374 | -€3,874 | -27.2% |
| Income taxes | 67/77 | €3,629 | €2,916 | -€714 | -19.7% |
| Profit (loss) for the period | 9904 | €10,619 | €7,459 | -€3,161 | -29.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,619 | €7,459 | -€3,161 | -29.8% |
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 11 October 2026 via checked.be.