VEKTOR: 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.
VEKTOR
Largest movements
- Tangible fixed assets +€307,284
up €307,284 (+418.3%), from €73,458 to €380,743
of which Land and buildings: +€327,693
- Receivables within one year -€77,531
down €77,531 (-19.1%), from €405,548 to €328,018
of which Trade receivables: -€131,439
- Cash -€54,989
down €54,989 (-62.5%), from €87,927 to €32,938
mainly Investment in fixed assets (net) (-€350,904) and Tax, wage and social debts (-€90,156)
- Stocks and contracts +€16,397
up €16,397 (+5.8%), from €284,694 to €301,091
- Deferred charges and accrued income +€13,797
up €13,797 (+122.3%), from €11,285 to €25,082
- Debts after one year +€271,504
up €271,504 (+2009.7%), from €13,510 to €285,013
- Tax, wage and social debts -€90,156
down €90,156 (-41.3%), from €218,474 to €128,318
of which Taxes: -€97,082
- Other debts +€47,230
new in 2025: €47,230
- Trade debts -€36,220
down €36,220 (-25.6%), from €141,701 to €105,481
- Current portion of long-term debt +€33,454
up €33,454 (+133.1%), from €25,129 to €58,583
- Gross operating margin +€91,208
up €91,208 (+22.6%), from €403,098 to €494,306
- Depreciation +€19,399
up €19,399 (+80.1%), from €24,220 to €43,620
- Staff costs +€18,301
up €18,301 (+5.2%), from €350,562 to €368,863
- Financial charges +€12,939
up €12,939 (+149.1%), from €8,679 to €21,618
- Taxes +€8,394
up €8,394 (+90.9%), from €9,236 to €17,630
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 | €864,738 | €1,069,697 | +€204,959 | +23.7% |
| Fixed assets | 21/28 | €75,283 | €382,567 | +€307,284 | +408.2% |
| Tangible fixed assets | 22/27 | €73,458 | €380,743 | +€307,284 | +418.3% |
| Land and buildings | 22 | €12,675 | €340,368 | +€327,693 | +2585.3% |
| Plant, machinery and equipment | 23 | €17,818 | €11,993 | -€5,825 | -32.7% |
| Furniture and vehicles | 24 | €40,456 | €26,539 | -€13,917 | -34.4% |
| Other tangible fixed assets | 26 | €2,510 | €1,843 | -€667 | -26.6% |
| Financial fixed assets | 28 | €1,825 | €1,825 | = | 0.0% |
| Current assets | 29/58 | €789,455 | €687,129 | -€102,325 | -13.0% |
| Stocks and contracts in progress | 3 | €284,694 | €301,091 | +€16,397 | +5.8% |
| Stocks | 30/36 | €284,694 | €301,091 | +€16,397 | +5.8% |
| Amounts receivable within one year | 40/41 | €405,548 | €328,018 | -€77,531 | -19.1% |
| Trade receivables | 40 | €332,802 | €201,363 | -€131,439 | -39.5% |
| Other amounts receivable | 41 | €72,746 | €126,654 | +€53,908 | +74.1% |
| Cash at bank and in hand | 54/58 | €87,927 | €32,938 | -€54,989 | -62.5% |
| Deferred charges and accrued income | 490/1 | €11,285 | €25,082 | +€13,797 | +122.3% |
| Total equity and liabilities | 10/49 | €864,738 | €1,069,697 | +€204,959 | +23.7% |
| Equity | 10/15 | €465,924 | €444,874 | -€21,050 | -4.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €152,784 | €131,734 | -€21,050 | -13.8% |
| Distributable reserves | 133 | €152,784 | €131,734 | -€21,050 | -13.8% |
| Profit (loss) carried forward | 14 | €294,540 | €294,540 | = | 0.0% |
| Amounts payable | 17/49 | €398,814 | €624,822 | +€226,008 | +56.7% |
| Amounts payable after more than one year | 17 | €13,510 | €285,013 | +€271,504 | +2009.7% |
| Financial debts | 170/4 | €13,510 | €285,013 | +€271,504 | +2009.7% |
| Amounts payable within one year | 42/48 | €385,304 | €339,611 | -€45,693 | -11.9% |
| Current portion of amounts payable after more than one year | 42 | €25,129 | €58,583 | +€33,454 | +133.1% |
| Trade debts | 44 | €141,701 | €105,481 | -€36,220 | -25.6% |
| Suppliers | 440/4 | €141,701 | €105,481 | -€36,220 | -25.6% |
| Taxes, remuneration and social security | 45 | €218,474 | €128,318 | -€90,156 | -41.3% |
| Taxes | 450/3 | €144,807 | €47,725 | -€97,082 | -67.0% |
| Remuneration and social security | 454/9 | €73,667 | €80,593 | +€6,926 | +9.4% |
| Other amounts payable | 47/48 | - | €47,230 | +€47,230 | |
| Accrued charges and deferred income | 492/3 | - | €198 | +€198 | |
| Remuneration, social security and pensions | 62 | €350,562 | €368,863 | +€18,301 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,220 | €43,620 | +€19,399 | +80.1% |
| Other operating charges | 640/8 | €10,260 | €16,409 | +€6,149 | +59.9% |
| Gross operating margin | 9900 | €403,098 | €494,306 | +€91,208 | +22.6% |
| Operating profit (loss) | 9901 | €18,056 | €65,414 | +€47,358 | +262.3% |
| Financial income | 75/76B | €4,605 | €3,298 | -€1,308 | -28.4% |
| Recurring financial income | 75 | €4,605 | €3,298 | -€1,308 | -28.4% |
| Financial charges | 65/66B | €8,679 | €21,618 | +€12,939 | +149.1% |
| Recurring financial charges | 65 | €8,679 | €21,618 | +€12,939 | +149.1% |
| Profit (loss) for the period before taxes | 9903 | €13,982 | €47,094 | +€33,111 | +236.8% |
| Income taxes | 67/77 | €9,236 | €17,630 | +€8,394 | +90.9% |
| Profit (loss) for the period | 9904 | €4,746 | €29,464 | +€24,717 | +520.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,746 | €29,464 | +€24,717 | +520.8% |
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 12 October 2026 via checked.be.