VEKAN MANAGEMENT: 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.
VEKAN MANAGEMENT
Largest movements
- Tangible fixed assets -€45,286
down €45,286 (-10.0%), from €453,145 to €407,859
of which Land and buildings: -€35,879
- Cash -€14,190
down €14,190 (-12.3%), from €115,149 to €100,959
mainly Net result for the year (-€49,408) and Tax, wage and social debts (-€18,381)
- Reserves -€37,666
down €37,666 (-8.3%), from €453,463 to €415,797
of which Tax-exempt reserves: -€33,180
- Other debts +€24,246
up €24,246 (+28.3%), from €85,534 to €109,780
- Tax, wage and social debts -€18,381
down €18,381 (-97.6%), from €18,828 to €447
- Provisions -€14,574
down €14,574 (-100%), from €14,574 to €0
- Profit (loss) carried forward -€11,742
down €11,742, from €0 to -€11,742
- Gross operating margin -€104,979
down €104,979, from €96,630 to -€8,349
- Other operating charges -€13,778
down €13,778 (-76.3%), from €18,059 to €4,281
- Taxes -€9,969
down €9,969 (-98.6%), from €10,110 to €140
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 | €597,992 | €539,184 | -€58,808 | -9.8% |
| Fixed assets | 21/28 | €453,145 | €407,859 | -€45,286 | -10.0% |
| Tangible fixed assets | 22/27 | €453,145 | €407,859 | -€45,286 | -10.0% |
| Land and buildings | 22 | €417,130 | €381,251 | -€35,879 | -8.6% |
| Furniture and vehicles | 24 | €36,016 | €26,609 | -€9,407 | -26.1% |
| Current assets | 29/58 | €144,847 | €131,324 | -€13,522 | -9.3% |
| Amounts receivable within one year | 40/41 | €27,698 | €28,365 | +€668 | +2.4% |
| Trade receivables | 40 | €13,964 | €13,964 | = | 0.0% |
| Other amounts receivable | 41 | €13,734 | €14,401 | +€668 | +4.9% |
| Current investments | 50/53 | €2,000 | €2,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €115,149 | €100,959 | -€14,190 | -12.3% |
| Total equity and liabilities | 10/49 | €597,992 | €539,184 | -€58,808 | -9.8% |
| Equity | 10/15 | €472,013 | €422,605 | -€49,408 | -10.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €453,463 | €415,797 | -€37,666 | -8.3% |
| Non-distributable reserves | 130/1 | €1,855 | €0 | -€1,855 | -100% |
| Reserves not available under the articles | 1311 | €1,855 | €0 | -€1,855 | -100% |
| Tax-exempt reserves | 132 | €33,180 | €0 | -€33,180 | -100% |
| Distributable reserves | 133 | €418,428 | €415,797 | -€2,631 | -0.6% |
| Profit (loss) carried forward | 14 | €0 | -€11,742 | -€11,742 | |
| Provisions and deferred taxes | 16 | €14,574 | €0 | -€14,574 | -100% |
| Deferred taxes | 168 | €14,574 | €0 | -€14,574 | -100% |
| Amounts payable | 17/49 | €111,405 | €116,579 | +€5,174 | +4.6% |
| Amounts payable within one year | 42/48 | €106,540 | €110,695 | +€4,155 | +3.9% |
| Trade debts | 44 | €2,178 | €467 | -€1,710 | -78.5% |
| Suppliers | 440/4 | €2,178 | €467 | -€1,710 | -78.5% |
| Taxes, remuneration and social security | 45 | €18,828 | €447 | -€18,381 | -97.6% |
| Taxes | 450/3 | €18,828 | €447 | -€18,381 | -97.6% |
| Other amounts payable | 47/48 | €85,534 | €109,780 | +€24,246 | +28.3% |
| Accrued charges and deferred income | 492/3 | €4,864 | €5,884 | +€1,019 | +21.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,097 | €45,286 | +€189 | +0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €29 | €0 | -€29 | -100% |
| Other operating charges | 640/8 | €18,059 | €4,281 | -€13,778 | -76.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €96,630 | -€8,349 | -€104,979 | |
| Operating profit (loss) | 9901 | €33,445 | -€57,916 | -€91,361 | |
| Financial income | 75/76B | €241 | €30 | -€210 | -87.5% |
| Recurring financial income | 75 | €241 | €30 | -€210 | -87.5% |
| Financial charges | 65/66B | €4,995 | €5,956 | +€961 | +19.2% |
| Recurring financial charges | 65 | €4,995 | €5,956 | +€961 | +19.2% |
| Profit (loss) for the period before taxes | 9903 | €28,691 | -€63,842 | -€92,533 | |
| Transfer from deferred taxes | 780 | €480 | €14,574 | +€14,094 | +2,934% |
| Income taxes | 67/77 | €10,110 | €140 | -€9,969 | -98.6% |
| Profit (loss) for the period | 9904 | €19,061 | -€49,408 | -€68,470 | |
| Transfer from tax-exempt reserves | 789 | €1,441 | €33,180 | +€31,739 | +2,203% |
| Profit (loss) for the period to be appropriated | 9905 | €20,502 | -€16,228 | -€36,731 |
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 18 October 2026 via checked.be.