VEPECA: what changed
Two fiscal 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.
VEPECA
Largest movements
- Financial fixed assets -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Receivables within one year +€12,511
up €12,511 (+2.2%), from €558,259 to €570,770
of which Trade receivables: +€16,409
- Debts after one year -€125,000
down €125,000 (-100.0%), from €125,000 to €0
- Trade debts +€33,323
up €33,323 (+8.1%), from €410,509 to €443,832
- Gross operating margin -€3,638
down €3,638, from €2,117 to -€1,521
- Other operating charges -€136
down €136 (-9.0%), from €1,505 to €1,369
- Financial charges -€42
down €42 (-58.3%), from €72 to €30
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 | €739,137 | €644,540 | -€94,597 | -12.8% |
| Fixed assets | 21/28 | €100,000 | €0 | -€100,000 | -100.0% |
| Financial fixed assets | 28 | €100,000 | €0 | -€100,000 | -100.0% |
| Current assets | 29/58 | €639,137 | €644,540 | +€5,403 | +0.8% |
| Amounts receivable within one year | 40/41 | €558,259 | €570,770 | +€12,511 | +2.2% |
| Trade receivables | 40 | €553,238 | €569,647 | +€16,409 | +3.0% |
| Other amounts receivable | 41 | €5,021 | €1,123 | -€3,898 | -77.6% |
| Cash at bank and in hand | 54/58 | €80,878 | €73,771 | -€7,108 | -8.8% |
| Total equity and liabilities | 10/49 | €739,137 | €644,540 | -€94,597 | -12.8% |
| Equity | 10/15 | €203,628 | €200,708 | -€2,920 | -1.4% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €0 | - | = | |
| Issued capital | 100 | €0 | - | = | |
| Outside capital | 11 | €150,000 | €150,000 | = | 0.0% |
| Other | 1109/19 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €53,628 | €50,708 | -€2,920 | -5.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Legal reserve | 130 | €0 | - | = | |
| Distributable reserves | 133 | €53,628 | €50,708 | -€2,920 | -5.4% |
| Amounts payable | 17/49 | €535,509 | €443,832 | -€91,677 | -17.1% |
| Amounts payable after more than one year | 17 | €125,000 | €0 | -€125,000 | -100.0% |
| Other amounts payable | 178/9 | €125,000 | €0 | -€125,000 | -100.0% |
| Amounts payable within one year | 42/48 | €410,509 | €443,832 | +€33,323 | +8.1% |
| Trade debts | 44 | €410,509 | €443,832 | +€33,323 | +8.1% |
| Suppliers | 440/4 | €410,509 | €443,832 | +€33,323 | +8.1% |
| Other operating charges | 640/8 | €1,505 | €1,369 | -€136 | -9.0% |
| Gross operating margin | 9900 | €2,117 | -€1,521 | -€3,638 | |
| Operating profit (loss) | 9901 | €613 | -€2,890 | -€3,503 | |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €72 | €30 | -€42 | -58.3% |
| Recurring financial charges | 65 | €72 | €30 | -€42 | -58.3% |
| Profit (loss) for the period before taxes | 9903 | €541 | -€2,920 | -€3,460 | |
| Profit (loss) for the period | 9904 | €541 | -€2,920 | -€3,460 | |
| Profit (loss) for the period to be appropriated | 9905 | €541 | -€2,920 | -€3,460 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.