VEQTOR: what changed
VEQTOR
Largest movements
- Receivables within one year +€103,311
up €103,311 (+105%), from €98,221 to €201,532
of which Trade receivables: +€125,617
- Cash -€95,465
down €95,465 (-85.7%), from €111,342 to €15,877
- Contributions +€100,000
up €100,000 (+500%), from €20,000 to €120,000
- Trade debts -€76,047
down €76,047 (-93.7%), from €81,201 to €5,154
- Other debts -€49,231
down €49,231 (-49.2%), from €100,000 to €50,769
- Tax, wage and social debts +€20,529
up €20,529, from €0 to €20,529
of which Remuneration and social security: +€15,507
- Accrued charges and deferred income +€9,577
up €9,577 (+769%), from €1,246 to €10,823
- Staff costs +€115,024
new in 2025: €115,024
- Gross operating margin +€107,131
up €107,131 (+623%), from €17,208 to €124,339
- Financial charges +€2,489
up €2,489 (+10,372%), from €24 to €2,513
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
A cash bridge needs two consecutive financial years. One year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €209,960 | €218,295 | +€8,336 | +4.0% |
| Current assets | 29/58 | €209,960 | €218,295 | +€8,336 | +4.0% |
| Amounts receivable within one year | 40/41 | €98,221 | €201,532 | +€103,311 | +105% |
| Trade receivables | 40 | €71,195 | €196,812 | +€125,617 | +176% |
| Other amounts receivable | 41 | €27,026 | €4,720 | -€22,306 | -82.5% |
| Cash at bank and in hand | 54/58 | €111,342 | €15,877 | -€95,465 | -85.7% |
| Deferred charges and accrued income | 490/1 | €397 | €887 | +€490 | +123% |
| Total equity and liabilities | 10/49 | €209,960 | €218,295 | +€8,336 | +4.0% |
| Equity | 10/15 | €27,513 | €131,021 | +€103,508 | +376% |
| Contributions | 10/11 | €20,000 | €120,000 | +€100,000 | +500% |
| Reserves | 13 | €866 | €866 | = | 0.0% |
| Distributable reserves | 133 | €866 | €866 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,646 | €10,155 | +€3,508 | +52.8% |
| Amounts payable | 17/49 | €182,447 | €87,274 | -€95,173 | -52.2% |
| Amounts payable within one year | 42/48 | €181,201 | €76,452 | -€104,749 | -57.8% |
| Trade debts | 44 | €81,201 | €5,154 | -€76,047 | -93.7% |
| Suppliers | 440/4 | €81,201 | €5,154 | -€76,047 | -93.7% |
| Taxes, remuneration and social security | 45 | €0 | €20,529 | +€20,529 | |
| Taxes | 450/3 | €0 | €5,021 | +€5,021 | |
| Remuneration and social security | 454/9 | - | €15,507 | +€15,507 | |
| Other amounts payable | 47/48 | €100,000 | €50,769 | -€49,231 | -49.2% |
| Accrued charges and deferred income | 492/3 | €1,246 | €10,823 | +€9,577 | +769% |
| Remuneration, social security and pensions | 62 | - | €115,024 | +€115,024 | |
| Other operating charges | 640/8 | €384 | €1,058 | +€674 | +175% |
| Gross operating margin | 9900 | €17,208 | €124,339 | +€107,131 | +623% |
| Operating profit (loss) | 9901 | €16,823 | €8,257 | -€8,567 | -50.9% |
| Financial income | 75/76B | €0 | €12 | +€12 | +60,350% |
| Recurring financial income | 75 | €0 | €12 | +€12 | +60,350% |
| Financial charges | 65/66B | €24 | €2,513 | +€2,489 | +10,372% |
| Recurring financial charges | 65 | €24 | €2,513 | +€2,489 | +10,372% |
| Profit (loss) for the period before taxes | 9903 | €16,799 | €5,756 | -€11,044 | -65.7% |
| Income taxes | 67/77 | €2,214 | €2,248 | +€34 | +1.5% |
| Profit (loss) for the period | 9904 | €14,586 | €3,508 | -€11,078 | -75.9% |
| Profit (loss) for the period to be appropriated | 9905 | €14,586 | €3,508 | -€11,078 | -75.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.