VETCO: 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.
VETCO
Largest movements
- Cash -€17,934
down €17,934 (-84.6%), from €21,192 to €3,258
mainly Debts after one year (-€18,415) and Net result for the year (-€11,559)
- Tangible fixed assets -€15,245
down €15,245 (-21.3%), from €71,624 to €56,379
of which Furniture and vehicles: -€9,293
- Stocks and contracts -€9,570
down €9,570 (-18.9%), from €50,612 to €41,042
- Receivables within one year -€6,708
down €6,708 (-14.9%), from €44,912 to €38,204
of which Trade receivables: -€6,853
- Debts after one year -€18,415
down €18,415 (-45.0%), from €40,894 to €22,479
- Profit (loss) carried forward -€11,559
down €11,559, from €11,478 to -€81
- Trade debts -€11,014
down €11,014 (-38.7%), from €28,476 to €17,462
- Tax, wage and social debts -€10,116
down €10,116 (-39.9%), from €25,368 to €15,252
of which Taxes: -€6,493
- Current portion of long-term debt +€7,689
up €7,689 (+454%), from €1,695 to €9,384
- Staff costs -€37,859
down €37,859 (-33.3%), from €113,732 to €75,873
- Gross operating margin -€36,080
down €36,080 (-29.3%), from €123,205 to €87,125
- Other operating charges -€2,992
down €2,992 (-61.1%), from €4,899 to €1,907
- Depreciation +€2,145
up €2,145 (+15.1%), from €14,247 to €16,392
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 | €188,365 | €138,908 | -€49,457 | -26.3% |
| Fixed assets | 21/28 | €71,649 | €56,404 | -€15,245 | -21.3% |
| Tangible fixed assets | 22/27 | €71,624 | €56,379 | -€15,245 | -21.3% |
| Plant, machinery and equipment | 23 | €19,254 | €15,166 | -€4,088 | -21.2% |
| Furniture and vehicles | 24 | €41,280 | €31,987 | -€9,293 | -22.5% |
| Other tangible fixed assets | 26 | €11,090 | €9,226 | -€1,864 | -16.8% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €116,716 | €82,504 | -€34,212 | -29.3% |
| Stocks and contracts in progress | 3 | €50,612 | €41,042 | -€9,570 | -18.9% |
| Stocks | 30/36 | €50,612 | €41,042 | -€9,570 | -18.9% |
| Amounts receivable within one year | 40/41 | €44,912 | €38,204 | -€6,708 | -14.9% |
| Trade receivables | 40 | €39,912 | €33,059 | -€6,853 | -17.2% |
| Other amounts receivable | 41 | €5,000 | €5,145 | +€145 | +2.9% |
| Cash at bank and in hand | 54/58 | €21,192 | €3,258 | -€17,934 | -84.6% |
| Total equity and liabilities | 10/49 | €188,365 | €138,908 | -€49,457 | -26.3% |
| Equity | 10/15 | €79,648 | €68,089 | -€11,559 | -14.5% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,478 | -€81 | -€11,559 | |
| Amounts payable | 17/49 | €108,717 | €70,819 | -€37,898 | -34.9% |
| Amounts payable after more than one year | 17 | €40,894 | €22,479 | -€18,415 | -45.0% |
| Financial debts | 170/4 | €40,894 | €22,479 | -€18,415 | -45.0% |
| Amounts payable within one year | 42/48 | €67,823 | €48,340 | -€19,483 | -28.7% |
| Current portion of amounts payable after more than one year | 42 | €1,695 | €9,384 | +€7,689 | +454% |
| Trade debts | 44 | €28,476 | €17,462 | -€11,014 | -38.7% |
| Suppliers | 440/4 | €28,476 | €17,462 | -€11,014 | -38.7% |
| Taxes, remuneration and social security | 45 | €25,368 | €15,252 | -€10,116 | -39.9% |
| Taxes | 450/3 | €10,643 | €4,150 | -€6,493 | -61.0% |
| Remuneration and social security | 454/9 | €14,725 | €11,102 | -€3,623 | -24.6% |
| Other amounts payable | 47/48 | €12,284 | €6,242 | -€6,042 | -49.2% |
| Non-recurring operating income | 76A | - | €500 | +€500 | |
| Remuneration, social security and pensions | 62 | €113,732 | €75,873 | -€37,859 | -33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,247 | €16,392 | +€2,145 | +15.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,101 | €107 | -€994 | -90.3% |
| Other operating charges | 640/8 | €4,899 | €1,907 | -€2,992 | -61.1% |
| Non-recurring operating charges | 66A | €1,221 | €2,076 | +€855 | +70.0% |
| Gross operating margin | 9900 | €123,205 | €87,125 | -€36,080 | -29.3% |
| Operating profit (loss) | 9901 | -€11,995 | -€9,230 | +€2,765 | +23.1% |
| Financial income | 75/76B | €754 | €37 | -€717 | -95.1% |
| Recurring financial income | 75 | €754 | €37 | -€717 | -95.1% |
| Financial charges | 65/66B | €2,385 | €2,195 | -€190 | -8.0% |
| Recurring financial charges | 65 | €2,385 | €2,195 | -€190 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | -€13,626 | -€11,388 | +€2,238 | +16.4% |
| Income taxes | 67/77 | €22 | €171 | +€149 | +677% |
| Profit (loss) for the period | 9904 | -€13,648 | -€11,559 | +€2,089 | +15.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,648 | -€11,559 | +€2,089 | +15.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.