Vescom Belgium: 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.
Vescom Belgium
Largest movements
- Cash +€182,410
up €182,410 (+219%), from €83,213 to €265,623
mainly Receivables within one year (+€61,286) and Net result for the year (+€49,420)
- Receivables within one year -€61,286
down €61,286 (-22.4%), from €272,999 to €211,713
of which Other amounts receivable: -€107,682
- Deferred charges and accrued income -€20,203
down €20,203 (-74.7%), from €27,047 to €6,844
- Tangible fixed assets -€13,781
down €13,781 (-37.2%), from €37,055 to €23,274
- Profit (loss) carried forward +€49,420
up €49,420 (+16.8%), from €293,875 to €343,295
- Tax, wage and social debts +€30,295
up €30,295 (+97.7%), from €31,019 to €61,314
of which Taxes: +€41,801
- Trade debts +€7,395
up €7,395 (+27.5%), from €26,900 to €34,295
- Turnover -€304,630
down €304,630 (-13.8%), from €2.2m to €1.9m
- Purchases and services -€272,249
down €272,249 (-14.9%), from €1.8m to €1.6m
- Gross operating margin -€26,417
down €26,417 (-6.9%), from €381,415 to €354,998
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 | €420,314 | €507,455 | +€87,141 | +20.7% |
| Fixed assets | 21/28 | €37,055 | €23,274 | -€13,781 | -37.2% |
| Tangible fixed assets | 22/27 | €37,055 | €23,274 | -€13,781 | -37.2% |
| Furniture and vehicles | 24 | €37,055 | €23,274 | -€13,781 | -37.2% |
| Current assets | 29/58 | €383,259 | €484,181 | +€100,922 | +26.3% |
| Amounts receivable within one year | 40/41 | €272,999 | €211,713 | -€61,286 | -22.4% |
| Trade receivables | 40 | €139,536 | €185,932 | +€46,396 | +33.3% |
| Other amounts receivable | 41 | €133,463 | €25,781 | -€107,682 | -80.7% |
| Cash at bank and in hand | 54/58 | €83,213 | €265,623 | +€182,410 | +219% |
| Deferred charges and accrued income | 490/1 | €27,047 | €6,844 | -€20,203 | -74.7% |
| Total equity and liabilities | 10/49 | €420,314 | €507,455 | +€87,141 | +20.7% |
| Equity | 10/15 | €362,046 | €411,465 | +€49,419 | +13.7% |
| Contributions | 10/11 | €61,974 | €61,973 | -€1 | 0.0% |
| Capital | 10 | €61,974 | €61,973 | -€1 | 0.0% |
| Issued capital | 100 | €61,974 | €61,973 | -€1 | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | +€0 | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €293,875 | €343,295 | +€49,420 | +16.8% |
| Amounts payable | 17/49 | €58,268 | €95,989 | +€37,721 | +64.7% |
| Amounts payable within one year | 42/48 | €57,919 | €95,609 | +€37,690 | +65.1% |
| Trade debts | 44 | €26,900 | €34,295 | +€7,395 | +27.5% |
| Suppliers | 440/4 | €26,900 | €34,295 | +€7,395 | +27.5% |
| Taxes, remuneration and social security | 45 | €31,019 | €61,314 | +€30,295 | +97.7% |
| Taxes | 450/3 | €1,002 | €42,803 | +€41,801 | +4,172% |
| Remuneration and social security | 454/9 | €30,017 | €18,511 | -€11,506 | -38.3% |
| Other amounts payable | 47/48 | - | €0 | = | |
| Accrued charges and deferred income | 492/3 | €349 | €380 | +€31 | +8.9% |
| Turnover | 70 | €2,205,781 | €1,901,151 | -€304,630 | -13.8% |
| Non-recurring operating income | 76A | - | €9,093 | +€9,093 | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,832,609 | €1,560,360 | -€272,249 | -14.9% |
| Remuneration, social security and pensions | 62 | €280,276 | €270,558 | -€9,718 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,810 | €12,283 | -€2,527 | -17.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,000 | €0 | -€3,000 | -100% |
| Gross operating margin | 9900 | €381,415 | €354,998 | -€26,417 | -6.9% |
| Operating profit (loss) | 9901 | €83,329 | €72,157 | -€11,172 | -13.4% |
| Financial charges | 65/66B | €1,239 | €891 | -€348 | -28.1% |
| Recurring financial charges | 65 | €1,239 | €891 | -€348 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | €82,090 | €71,266 | -€10,824 | -13.2% |
| Income taxes | 67/77 | €24,704 | €21,846 | -€2,858 | -11.6% |
| Profit (loss) for the period | 9904 | €57,386 | €49,420 | -€7,966 | -13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €57,386 | €49,420 | -€7,966 | -13.9% |
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 19 October 2026 via checked.be.