VEKST: 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.
VEKST
Largest movements
- Cash +€34,870
up €34,870 (+52.2%), from €66,804 to €101,674
mainly Net result for the year (+€35,248) and Depreciation (+€15,130)
- Tangible fixed assets -€14,007
down €14,007 (-24.8%), from €56,367 to €42,361
of which Leasing and similar rights: -€13,584
- Receivables within one year +€1,977
up €1,977 (+5.8%), from €34,200 to €36,176
of which Other amounts receivable: +€14,657
- Reserves +€35,248
up €35,248 (+44.7%), from €78,827 to €114,075
- Debts after one year -€16,057
down €16,057 (-53.5%), from €30,021 to €13,964
- Tax, wage and social debts +€2,926
up €2,926 (+20.3%), from €14,450 to €17,377
of which Remuneration and social security: +€2,580
- Gross operating margin -€62,591
down €62,591 (-48.0%), from €130,438 to €67,847
- Taxes -€12,618
down €12,618 (-51.9%), from €24,310 to €11,692
- Other operating charges -€4,991
down €4,991 (-62.3%), from €8,014 to €3,023
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 | €159,545 | €182,521 | +€22,975 | +14.4% |
| Fixed assets | 21/28 | €56,367 | €42,361 | -€14,007 | -24.8% |
| Tangible fixed assets | 22/27 | €56,367 | €42,361 | -€14,007 | -24.8% |
| Plant, machinery and equipment | 23 | €3,365 | €2,942 | -€423 | -12.6% |
| Leasing and similar rights | 25 | €53,002 | €39,418 | -€13,584 | -25.6% |
| Current assets | 29/58 | €103,178 | €140,160 | +€36,982 | +35.8% |
| Amounts receivable within one year | 40/41 | €34,200 | €36,176 | +€1,977 | +5.8% |
| Trade receivables | 40 | €34,200 | €21,519 | -€12,680 | -37.1% |
| Other amounts receivable | 41 | - | €14,657 | +€14,657 | |
| Cash at bank and in hand | 54/58 | €66,804 | €101,674 | +€34,870 | +52.2% |
| Deferred charges and accrued income | 490/1 | €2,174 | €2,310 | +€136 | +6.3% |
| Total equity and liabilities | 10/49 | €159,545 | €182,521 | +€22,975 | +14.4% |
| Equity | 10/15 | €88,827 | €124,075 | +€35,248 | +39.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €78,827 | €114,075 | +€35,248 | +44.7% |
| Distributable reserves | 133 | €78,827 | €114,075 | +€35,248 | +44.7% |
| Amounts payable | 17/49 | €70,719 | €58,446 | -€12,273 | -17.4% |
| Amounts payable after more than one year | 17 | €30,021 | €13,964 | -€16,057 | -53.5% |
| Financial debts | 170/4 | €30,021 | €13,964 | -€16,057 | -53.5% |
| Amounts payable within one year | 42/48 | €40,037 | €43,802 | +€3,765 | +9.4% |
| Current portion of amounts payable after more than one year | 42 | €15,327 | €16,057 | +€730 | +4.8% |
| Financial debts | 43 | €9,000 | €9,000 | = | 0.0% |
| Other loans | 439 | €9,000 | €9,000 | = | 0.0% |
| Trade debts | 44 | €498 | €145 | -€353 | -70.9% |
| Suppliers | 440/4 | €498 | €145 | -€353 | -70.9% |
| Taxes, remuneration and social security | 45 | €14,450 | €17,377 | +€2,926 | +20.3% |
| Taxes | 450/3 | €14,450 | €14,797 | +€346 | +2.4% |
| Remuneration and social security | 454/9 | - | €2,580 | +€2,580 | |
| Other amounts payable | 47/48 | €761 | €1,224 | +€462 | +60.7% |
| Accrued charges and deferred income | 492/3 | €660 | €680 | +€19 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,432 | €15,130 | -€301 | -2.0% |
| Other operating charges | 640/8 | €8,014 | €3,023 | -€4,991 | -62.3% |
| Gross operating margin | 9900 | €130,438 | €67,847 | -€62,591 | -48.0% |
| Operating profit (loss) | 9901 | €106,992 | €49,694 | -€57,299 | -53.6% |
| Financial income | 75/76B | €0 | €0 | +€0 | +33.3% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +33.3% |
| Financial charges | 65/66B | €3,855 | €2,753 | -€1,102 | -28.6% |
| Recurring financial charges | 65 | €3,855 | €2,753 | -€1,102 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | €103,137 | €46,941 | -€56,196 | -54.5% |
| Income taxes | 67/77 | €24,310 | €11,692 | -€12,618 | -51.9% |
| Profit (loss) for the period | 9904 | €78,827 | €35,248 | -€43,578 | -55.3% |
| Profit (loss) for the period to be appropriated | 9905 | €78,827 | €35,248 | -€43,578 | -55.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.