VESOR CABLING SERVICES: 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.
VESOR CABLING SERVICES
Largest movements
- Receivables within one year +€19,926
up €19,926 (+34.3%), from €58,061 to €77,986
of which Other amounts receivable: +€25,990
- Tangible fixed assets -€13,118
down €13,118 (-5.8%), from €225,921 to €212,803
of which Land and buildings: -€8,974
- Reserves +€34,081
up €34,081 (+68.0%), from €50,086 to €84,166
of which Distributable reserves: +€31,247
- Debts after one year -€19,343
down €19,343 (-16.4%), from €118,151 to €98,808
- Tax, wage and social debts +€17,287
up €17,287 (+92.7%), from €18,640 to €35,927
of which Taxes: +€17,287
- Other debts -€12,453
no longer reported in 2025 (was €12,453)
- Trade debts -€9,425
down €9,425 (-27.0%), from €34,960 to €25,535
- Financial charges +€4,383
up €4,383 (+111.2%), from €3,942 to €8,325
of which Financial charges: +€2,215
- Gross operating margin +€4,087
up €4,087 (+6.5%), from €62,898 to €66,984
- Taxes -€3,503
down €3,503 (-19.0%), from €18,410 to €14,907
- Depreciation +€1,425
up €1,425 (+12.2%), from €11,693 to €13,118
- Financial income +€1,032
up €1,032 (+37.4%), from €2,758 to €3,790
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 | €340,965 | €347,773 | +€6,808 | +2.0% |
| Fixed assets | 21/28 | €226,290 | €213,172 | -€13,118 | -5.8% |
| Tangible fixed assets | 22/27 | €225,921 | €212,803 | -€13,118 | -5.8% |
| Land and buildings | 22 | €215,989 | €207,015 | -€8,974 | -4.2% |
| Plant, machinery and equipment | 23 | €1,042 | €772 | -€270 | -25.9% |
| Furniture and vehicles | 24 | €6,608 | €4,296 | -€2,312 | -35.0% |
| Other tangible fixed assets | 26 | €2,282 | €719 | -€1,563 | -68.5% |
| Financial fixed assets | 28 | €369 | €369 | = | 0.0% |
| Current assets | 29/58 | €114,676 | €134,601 | +€19,926 | +17.4% |
| Amounts receivable after more than one year | 29 | €56,615 | €56,615 | = | 0.0% |
| Other amounts receivable | 291 | €56,615 | €56,615 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €58,061 | €77,986 | +€19,926 | +34.3% |
| Trade receivables | 40 | €18,249 | €12,185 | -€6,064 | -33.2% |
| Other amounts receivable | 41 | €39,812 | €65,802 | +€25,990 | +65.3% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €340,965 | €347,773 | +€6,808 | +2.0% |
| Equity | 10/15 | €119,240 | €150,487 | +€31,247 | +26.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €50,555 | €47,721 | -€2,834 | -5.6% |
| Reserves | 13 | €50,086 | €84,166 | +€34,081 | +68.0% |
| Non-distributable reserves | 130/1 | €21,263 | €24,097 | +€2,834 | +13.3% |
| Reserves not available under the articles | 1311 | €978 | €978 | = | 0.0% |
| Other | 1319 | €20,285 | €23,119 | +€2,834 | +14.0% |
| Distributable reserves | 133 | €28,823 | €60,069 | +€31,247 | +108.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €221,725 | €197,286 | -€24,439 | -11.0% |
| Amounts payable after more than one year | 17 | €118,151 | €98,808 | -€19,343 | -16.4% |
| Financial debts | 170/4 | €118,151 | €98,808 | -€19,343 | -16.4% |
| Amounts payable within one year | 42/48 | €103,574 | €98,403 | -€5,171 | -5.0% |
| Current portion of amounts payable after more than one year | 42 | €19,096 | €19,343 | +€247 | +1.3% |
| Financial debts | 43 | €18,425 | €17,597 | -€828 | -4.5% |
| Credit institutions | 430/8 | €8,425 | €17,597 | +€9,172 | +108.9% |
| Other loans | 439 | €10,000 | - | -€10,000 | |
| Trade debts | 44 | €34,960 | €25,535 | -€9,425 | -27.0% |
| Suppliers | 440/4 | €34,960 | €25,535 | -€9,425 | -27.0% |
| Taxes, remuneration and social security | 45 | €18,640 | €35,927 | +€17,287 | +92.7% |
| Taxes | 450/3 | €18,640 | €35,927 | +€17,287 | +92.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €12,453 | - | -€12,453 | |
| Accrued charges and deferred income | 492/3 | - | €75 | +€75 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,693 | €13,118 | +€1,425 | +12.2% |
| Other operating charges | 640/8 | €2,568 | €3,177 | +€608 | +23.7% |
| Gross operating margin | 9900 | €62,898 | €66,984 | +€4,087 | +6.5% |
| Operating profit (loss) | 9901 | €48,636 | €50,689 | +€2,053 | +4.2% |
| Financial income | 75/76B | €2,758 | €3,790 | +€1,032 | +37.4% |
| Recurring financial income | 75 | €2,758 | €3,790 | +€1,032 | +37.4% |
| Financial charges | 65/66B | €3,942 | €8,325 | +€4,383 | +111.2% |
| Recurring financial charges | 65 | €3,203 | €5,418 | +€2,215 | +69.1% |
| Non-recurring financial charges | 66B | €739 | €2,907 | +€2,168 | +293.3% |
| Profit (loss) for the period before taxes | 9903 | €47,452 | €46,154 | -€1,298 | -2.7% |
| Income taxes | 67/77 | €18,410 | €14,907 | -€3,503 | -19.0% |
| Profit (loss) for the period | 9904 | €29,042 | €31,247 | +€2,205 | +7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €29,042 | €31,247 | +€2,205 | +7.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.