Vetelco: 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.
Vetelco
Largest movements
- Cash -€60,003
down €60,003 (-82.8%), from €72,445 to €12,442
mainly Investment in fixed assets (net) (-€53,316) and Contributions, distributions and other (-€52,830)
- Tangible fixed assets +€42,361
new in 2024: €42,361
- Receivables within one year -€10,086
down €10,086 (-51.5%), from €19,569 to €9,483
of which Trade receivables: -€10,086
- Tax, wage and social debts -€17,663
down €17,663 (-86.5%), from €20,415 to €2,752
of which Taxes: -€17,548
- Other debts -€5,249
down €5,249 (-88.1%), from €5,955 to €707
- Reserves -€4,960
down €4,960 (-7.8%), from €63,653 to €58,694
- Depreciation +€10,955
new in 2024: €10,955
- Gross operating margin +€6,557
up €6,557 (+10.0%), from €65,291 to €71,848
- Taxes -€4,918
down €4,918 (-28.2%), from €17,450 to €12,532
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €93,065 | €65,318 | -€27,747 | -29.8% |
| Fixed assets | 21/28 | - | €42,361 | +€42,361 | |
| Tangible fixed assets | 22/27 | - | €42,361 | +€42,361 | |
| Furniture and vehicles | 24 | - | €42,361 | +€42,361 | |
| Current assets | 29/58 | €93,065 | €22,957 | -€70,108 | -75.3% |
| Amounts receivable within one year | 40/41 | €19,569 | €9,483 | -€10,086 | -51.5% |
| Trade receivables | 40 | €19,569 | €9,483 | -€10,086 | -51.5% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €72,445 | €12,442 | -€60,003 | -82.8% |
| Deferred charges and accrued income | 490/1 | €1,051 | €1,032 | -€19 | -1.8% |
| Total equity and liabilities | 10/49 | €93,065 | €65,318 | -€27,747 | -29.8% |
| Equity | 10/15 | €66,153 | €61,194 | -€4,960 | -7.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €63,653 | €58,694 | -€4,960 | -7.8% |
| Distributable reserves | 133 | €63,653 | €58,694 | -€4,960 | -7.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €26,911 | €4,124 | -€22,787 | -84.7% |
| Amounts payable within one year | 42/48 | €26,911 | €4,124 | -€22,787 | -84.7% |
| Financial debts | 43 | - | €62 | +€62 | |
| Credit institutions | 430/8 | - | €62 | +€62 | |
| Trade debts | 44 | €541 | €603 | +€62 | +11.6% |
| Suppliers | 440/4 | €541 | €603 | +€62 | +11.6% |
| Taxes, remuneration and social security | 45 | €20,415 | €2,752 | -€17,663 | -86.5% |
| Taxes | 450/3 | €18,391 | €843 | -€17,548 | -95.4% |
| Remuneration and social security | 454/9 | €2,024 | €1,909 | -€115 | -5.7% |
| Other amounts payable | 47/48 | €5,955 | €707 | -€5,249 | -88.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €10,955 | +€10,955 | |
| Other operating charges | 640/8 | €510 | €449 | -€61 | -11.9% |
| Gross operating margin | 9900 | €65,291 | €71,848 | +€6,557 | +10.0% |
| Operating profit (loss) | 9901 | €64,781 | €60,443 | -€4,337 | -6.7% |
| Financial charges | 65/66B | €65 | €42 | -€23 | -35.8% |
| Recurring financial charges | 65 | €65 | €42 | -€23 | -35.8% |
| Profit (loss) for the period before taxes | 9903 | €64,716 | €60,402 | -€4,314 | -6.7% |
| Income taxes | 67/77 | €17,450 | €12,532 | -€4,918 | -28.2% |
| Profit (loss) for the period | 9904 | €47,265 | €47,870 | +€604 | +1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €47,265 | €47,870 | +€604 | +1.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.