VEKO LIGHTSYSTEMS: 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.
VEKO LIGHTSYSTEMS
Largest movements
- Receivables within one year -€581,066
down €581,066 (-27.9%), from €2.1m to €1.5m
of which Trade receivables: -€550,840
- Cash -€277,144
down €277,144 (-32.4%), from €855,716 to €578,572
mainly Trade debts (-€908,346) and Investment in fixed assets (net) (-€233,250)
- Intangible fixed assets +€98,643
new in 2025: €98,643
- Stocks and contracts -€41,873
down €41,873 (-7.1%), from €590,024 to €548,151
- Trade debts -€908,346
down €908,346 (-55.7%), from €1.6m to €723,514
- Profit (loss) carried forward -€364,831
no longer reported in 2025 (was €364,831)
- Reserves +€233,665
up €233,665 (+13.4%), from €1.7m to €2.0m
- Other debts +€199,113
up €199,113 (+4663.1%), from €4,270 to €203,383
- Tax, wage and social debts +€48,697
up €48,697 (+46.4%), from €104,866 to €153,563
of which Taxes: +€37,463
- Gross operating margin +€183,651
up €183,651 (+17.4%), from €1.1m to €1.2m
- Staff costs +€143,116
up €143,116 (+16.9%), from €847,012 to €990,128
- Depreciation +€19,581
up €19,581 (+22.4%), from €87,339 to €106,920
- Other operating charges +€15,108
up €15,108 (+330.3%), from €4,574 to €19,681
- Financial charges -€13,033
down €13,033 (-28.0%), from €46,595 to €33,562
of which Financial charges: -€13,498
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 | €3,872,581 | €3,099,349 | -€773,232 | -20.0% |
| Fixed assets | 21/28 | €329,811 | €456,141 | +€126,331 | +38.3% |
| Intangible fixed assets | 21 | - | €98,643 | +€98,643 | |
| Tangible fixed assets | 22/27 | €329,811 | €357,498 | +€27,688 | +8.4% |
| Plant, machinery and equipment | 23 | €206,043 | €204,434 | -€1,610 | -0.8% |
| Furniture and vehicles | 24 | €123,767 | €153,064 | +€29,297 | +23.7% |
| Current assets | 29/58 | €3,542,771 | €2,643,208 | -€899,563 | -25.4% |
| Stocks and contracts in progress | 3 | €590,024 | €548,151 | -€41,873 | -7.1% |
| Stocks | 30/36 | €590,024 | €548,151 | -€41,873 | -7.1% |
| Amounts receivable within one year | 40/41 | €2,084,453 | €1,503,387 | -€581,066 | -27.9% |
| Trade receivables | 40 | €1,906,327 | €1,355,487 | -€550,840 | -28.9% |
| Other amounts receivable | 41 | €178,126 | €147,900 | -€30,226 | -17.0% |
| Cash at bank and in hand | 54/58 | €855,716 | €578,572 | -€277,144 | -32.4% |
| Deferred charges and accrued income | 490/1 | €12,577 | €13,098 | +€521 | +4.1% |
| Total equity and liabilities | 10/49 | €3,872,581 | €3,099,349 | -€773,232 | -20.0% |
| Equity | 10/15 | €2,126,411 | €1,995,245 | -€131,166 | -6.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,742,980 | €1,976,645 | +€233,665 | +13.4% |
| Distributable reserves | 133 | €1,742,980 | €1,976,645 | +€233,665 | +13.4% |
| Profit (loss) carried forward | 14 | €364,831 | - | -€364,831 | |
| Amounts payable | 17/49 | €1,746,170 | €1,104,104 | -€642,066 | -36.8% |
| Amounts payable within one year | 42/48 | €1,740,996 | €1,080,460 | -€660,537 | -37.9% |
| Trade debts | 44 | €1,631,860 | €723,514 | -€908,346 | -55.7% |
| Suppliers | 440/4 | €1,631,860 | €723,514 | -€908,346 | -55.7% |
| Taxes, remuneration and social security | 45 | €104,866 | €153,563 | +€48,697 | +46.4% |
| Taxes | 450/3 | €11,703 | €49,166 | +€37,463 | +320.1% |
| Remuneration and social security | 454/9 | €93,163 | €104,397 | +€11,234 | +12.1% |
| Other amounts payable | 47/48 | €4,270 | €203,383 | +€199,113 | +4663.1% |
| Accrued charges and deferred income | 492/3 | €5,174 | €23,645 | +€18,471 | +357.0% |
| Non-recurring operating income | 76A | €3,150 | €2,450 | -€700 | -22.2% |
| Remuneration, social security and pensions | 62 | €847,012 | €990,128 | +€143,116 | +16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,339 | €106,920 | +€19,581 | +22.4% |
| Other operating charges | 640/8 | €4,574 | €19,681 | +€15,108 | +330.3% |
| Gross operating margin | 9900 | €1,056,200 | €1,239,851 | +€183,651 | +17.4% |
| Operating profit (loss) | 9901 | €117,275 | €123,122 | +€5,847 | +5.0% |
| Financial income | 75/76B | €13,173 | €3,194 | -€9,979 | -75.8% |
| Recurring financial income | 75 | €3,173 | €3,194 | +€21 | +0.7% |
| Non-recurring financial income | 76B | €10,000 | - | -€10,000 | |
| Financial charges | 65/66B | €46,595 | €33,562 | -€13,033 | -28.0% |
| Recurring financial charges | 65 | €46,595 | €33,097 | -€13,498 | -29.0% |
| Non-recurring financial charges | 66B | - | €465 | +€465 | |
| Profit (loss) for the period before taxes | 9903 | €83,854 | €92,754 | +€8,900 | +10.6% |
| Income taxes | 67/77 | €29,968 | €23,920 | -€6,047 | -20.2% |
| Profit (loss) for the period | 9904 | €53,886 | €68,834 | +€14,948 | +27.7% |
| Profit (loss) for the period to be appropriated | 9905 | €53,886 | €68,834 | +€14,948 | +27.7% |
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 9 October 2026 via checked.be.