VEKCO: 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.
VEKCO
Largest movements
- Tangible fixed assets -€38,464
down €38,464 (-6.3%), from €607,701 to €569,237
- Cash +€37,704
up €37,704 (+31.5%), from €119,790 to €157,494
mainly Depreciation (+€38,821) and Tax, wage and social debts (+€3,838)
- Profit (loss) carried forward +€10,996
up €10,996 (+16.7%), from €65,873 to €76,869
- Reserves -€9,138
down €9,138 (-4.4%), from €208,009 to €198,871
of which Tax-exempt reserves: -€13,734
- Gross operating margin +€11,980
up €11,980 (+39.4%), from €30,387 to €42,367
- Financial income -€7,397
down €7,397 (-80.4%), from €9,205 to €1,807
of which Financial income: -€9,205
- Taxes +€3,838
new in 2025: €3,838
- Other operating charges +€940
up €940 (+20.3%), from €4,619 to €5,559
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 | €739,753 | €738,199 | -€1,554 | -0.2% |
| Fixed assets | 21/28 | €607,701 | €569,237 | -€38,464 | -6.3% |
| Tangible fixed assets | 22/27 | €607,701 | €569,237 | -€38,464 | -6.3% |
| Land and buildings | 22 | €607,701 | €569,237 | -€38,464 | -6.3% |
| Current assets | 29/58 | €132,052 | €168,962 | +€36,910 | +28.0% |
| Amounts receivable within one year | 40/41 | €3,771 | €2,468 | -€1,302 | -34.5% |
| Trade receivables | 40 | €254 | €0 | -€254 | -100.0% |
| Other amounts receivable | 41 | €3,516 | €2,468 | -€1,048 | -29.8% |
| Cash at bank and in hand | 54/58 | €119,790 | €157,494 | +€37,704 | +31.5% |
| Deferred charges and accrued income | 490/1 | €8,492 | €9,000 | +€508 | +6.0% |
| Total equity and liabilities | 10/49 | €739,753 | €738,199 | -€1,554 | -0.2% |
| Equity | 10/15 | €645,882 | €647,739 | +€1,858 | +0.3% |
| Contributions | 10/11 | €372,000 | €372,000 | = | 0.0% |
| Capital | 10 | - | €372,000 | +€372,000 | |
| Issued capital | 100 | - | €372,000 | +€372,000 | |
| Contributions outside capital | 11 | €372,000 | €0 | -€372,000 | -100.0% |
| Other | 1109/19 | €372,000 | €0 | -€372,000 | -100.0% |
| Reserves | 13 | €208,009 | €198,871 | -€9,138 | -4.4% |
| Non-distributable reserves | 130/1 | €32,604 | €37,200 | +€4,596 | +14.1% |
| Legal reserve | 130 | €32,604 | €37,200 | +€4,596 | +14.1% |
| Tax-exempt reserves | 132 | €175,405 | €161,671 | -€13,734 | -7.8% |
| Profit (loss) carried forward | 14 | €65,873 | €76,869 | +€10,996 | +16.7% |
| Provisions and deferred taxes | 16 | €90,320 | €83,248 | -€7,072 | -7.8% |
| Deferred taxes | 168 | €90,320 | €83,248 | -€7,072 | -7.8% |
| Amounts payable | 17/49 | €3,552 | €7,212 | +€3,660 | +103.1% |
| Amounts payable within one year | 42/48 | €3,552 | €5,712 | +€2,160 | +60.8% |
| Taxes, remuneration and social security | 45 | - | €3,838 | +€3,838 | |
| Taxes | 450/3 | - | €3,838 | +€3,838 | |
| Other amounts payable | 47/48 | €3,552 | €1,874 | -€1,677 | -47.2% |
| Accrued charges and deferred income | 492/3 | - | €1,500 | +€1,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,821 | €38,821 | -€0 | 0.0% |
| Other operating charges | 640/8 | €4,619 | €5,559 | +€940 | +20.3% |
| Non-recurring operating charges | 66A | - | €1,141 | +€1,141 | |
| Gross operating margin | 9900 | €30,387 | €42,367 | +€11,980 | +39.4% |
| Operating profit (loss) | 9901 | -€13,053 | -€3,154 | +€9,899 | +75.8% |
| Financial income | 75/76B | €9,205 | €1,807 | -€7,397 | -80.4% |
| Recurring financial income | 75 | €9,205 | €0 | -€9,205 | -100.0% |
| Non-recurring financial income | 76B | - | €1,807 | +€1,807 | |
| Financial charges | 65/66B | €54 | €30 | -€24 | -44.2% |
| Recurring financial charges | 65 | €54 | €30 | -€24 | -44.2% |
| Profit (loss) for the period before taxes | 9903 | -€3,902 | -€1,377 | +€2,526 | +64.7% |
| Transfer from deferred taxes | 780 | €7,072 | €7,072 | = | 0.0% |
| Income taxes | 67/77 | - | €3,838 | +€3,838 | |
| Profit (loss) for the period | 9904 | €3,170 | €1,858 | -€1,312 | -41.4% |
| Transfer from tax-exempt reserves | 789 | €13,734 | €13,734 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,904 | €15,592 | -€1,312 | -7.8% |
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 10 October 2026 via checked.be.