VEHICAL: what changed
Two fiscal 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.
VEHICAL
Largest movements
- Receivables within one year +€96,981
up €96,981 (+596.7%), from €16,253 to €113,234
of which Trade receivables: +€97,568
- Cash -€16,301
down €16,301 (-10.8%), from €151,164 to €134,863
mainly Receivables within one year (-€96,981) and Contributions, distributions and other (-€22,666)
- Deferred charges and accrued income +€14,777
up €14,777 (+206.8%), from €7,147 to €21,925
- Tangible fixed assets -€14,663
down €14,663 (-29.0%), from €50,546 to €35,883
of which Furniture and vehicles: -€12,309
- Reserves +€28,420
up €28,420 (+97.3%), from €29,199 to €57,620
- Other debts +€21,507
up €21,507 (+11.9%), from €181,007 to €202,514
- Tax, wage and social debts +€19,518
up €19,518 (+65.7%), from €29,720 to €49,238
- Trade debts +€7,805
up €7,805 (+302.8%), from €2,578 to €10,384
- Gross operating margin +€2,534
up €2,534 (+2.8%), from €90,489 to €93,023
- Depreciation +€1,478
up €1,478 (+11.2%), from €13,185 to €14,663
- Financial charges -€1,424
down €1,424 (-9.8%), from €14,570 to €13,147
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 | €573,845 | €652,072 | +€78,226 | +13.6% |
| Fixed assets | 21/28 | €52,796 | €40,833 | -€11,963 | -22.7% |
| Tangible fixed assets | 22/27 | €50,546 | €35,883 | -€14,663 | -29.0% |
| Plant, machinery and equipment | 23 | €14,650 | €12,297 | -€2,353 | -16.1% |
| Furniture and vehicles | 24 | €35,895 | €23,586 | -€12,309 | -34.3% |
| Financial fixed assets | 28 | €2,250 | €4,950 | +€2,700 | +120.0% |
| Current assets | 29/58 | €521,050 | €611,239 | +€90,189 | +17.3% |
| Stocks and contracts in progress | 3 | €346,486 | €341,217 | -€5,269 | -1.5% |
| Stocks | 30/36 | €346,486 | €341,217 | -€5,269 | -1.5% |
| Amounts receivable within one year | 40/41 | €16,253 | €113,234 | +€96,981 | +596.7% |
| Trade receivables | 40 | €15,429 | €112,997 | +€97,568 | +632.4% |
| Other amounts receivable | 41 | €824 | €237 | -€587 | -71.2% |
| Cash at bank and in hand | 54/58 | €151,164 | €134,863 | -€16,301 | -10.8% |
| Deferred charges and accrued income | 490/1 | €7,147 | €21,925 | +€14,777 | +206.8% |
| Total equity and liabilities | 10/49 | €573,845 | €652,072 | +€78,226 | +13.6% |
| Equity | 10/15 | €45,199 | €73,620 | +€28,420 | +62.9% |
| Contributions | 10/11 | €16,000 | €16,000 | = | 0.0% |
| Reserves | 13 | €29,199 | €57,620 | +€28,420 | +97.3% |
| Distributable reserves | 133 | €29,199 | €57,620 | +€28,420 | +97.3% |
| Amounts payable | 17/49 | €528,646 | €578,452 | +€49,806 | +9.4% |
| Amounts payable after more than one year | 17 | €44,000 | €44,000 | = | 0.0% |
| Financial debts | 170/4 | €44,000 | €44,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €484,305 | €532,136 | +€47,831 | +9.9% |
| Financial debts | 43 | €270,000 | €270,000 | = | 0.0% |
| Credit institutions | 430/8 | €270,000 | €270,000 | = | 0.0% |
| Trade debts | 44 | €2,578 | €10,384 | +€7,805 | +302.8% |
| Suppliers | 440/4 | €2,578 | €10,384 | +€7,805 | +302.8% |
| Advances received on contracts in progress | 46 | €1,000 | - | -€1,000 | |
| Taxes, remuneration and social security | 45 | €29,720 | €49,238 | +€19,518 | +65.7% |
| Taxes | 450/3 | €29,720 | €49,238 | +€19,518 | +65.7% |
| Other amounts payable | 47/48 | €181,007 | €202,514 | +€21,507 | +11.9% |
| Accrued charges and deferred income | 492/3 | €341 | €2,317 | +€1,976 | +579.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,185 | €14,663 | +€1,478 | +11.2% |
| Other operating charges | 640/8 | €4,938 | €5,060 | +€122 | +2.5% |
| Gross operating margin | 9900 | €90,489 | €93,023 | +€2,534 | +2.8% |
| Operating profit (loss) | 9901 | €72,367 | €73,300 | +€934 | +1.3% |
| Financial income | 75/76B | €0 | €59 | +€59 | +48950.0% |
| Recurring financial income | 75 | €0 | €59 | +€59 | +48950.0% |
| Financial charges | 65/66B | €14,570 | €13,147 | -€1,424 | -9.8% |
| Recurring financial charges | 65 | €14,570 | €13,147 | -€1,424 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €57,796 | €60,212 | +€2,416 | +4.2% |
| Income taxes | 67/77 | €9,645 | €9,126 | -€518 | -5.4% |
| Profit (loss) for the period | 9904 | €48,152 | €51,086 | +€2,934 | +6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €48,152 | €51,086 | +€2,934 | +6.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.