VEVACO: 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.
VEVACO
Largest movements
- Current investments -€2.5m
down €2.5m (-100.0%), from €2.5m to €1,033
- Financial fixed assets -€1.2m
down €1.2m (-100%), from €1.2m to €0
- Cash +€558,633
up €558,633 (+26.7%), from €2.1m to €2.7m
mainly Current investments (+€2.5m) and Investment in fixed assets (net) (+€917,832)
- Receivables within one year +€408,396
up €408,396 (+152%), from €269,109 to €677,505
of which Other amounts receivable: +€397,462
- Tangible fixed assets +€179,918
up €179,918 (+11.1%), from €1.6m to €1.8m
of which Land and buildings: +€184,644
- Other debts -€2.1m
down €2.1m (-49.5%), from €4.3m to €2.2m
- Debts after one year -€369,444
down €369,444 (-34.3%), from €1.1m to €708,334
- Profit (loss) carried forward -€186,183
down €186,183, from €0 to -€186,183
- Reserves +€128,511
up €128,511 (+6.7%), from €1.9m to €2.1m
of which Tax-exempt reserves: +€128,511
- Financial income -€2.3m
down €2.3m (-97.8%), from €2.4m to €53,258
of which Non-recurring financial income: -€2.3m
- Financial charges -€67,574
down €67,574 (-87.6%), from €77,114 to €9,540
- Gross operating margin -€8,219
down €8,219 (-22.7%), from -€36,274 to -€44,493
- Depreciation +€4,341
up €4,341 (+7.1%), from €61,495 to €65,836
- Other operating charges +€1,095
up €1,095 (+8.6%), from €12,727 to €13,821
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 | €7,711,828 | €5,133,024 | -€2.6m | -33.4% |
| Fixed assets | 21/28 | €2,785,390 | €1,801,722 | -€983,668 | -35.3% |
| Tangible fixed assets | 22/27 | €1,621,803 | €1,801,722 | +€179,918 | +11.1% |
| Land and buildings | 22 | €1,609,746 | €1,794,390 | +€184,644 | +11.5% |
| Plant, machinery and equipment | 23 | €3,072 | €1,541 | -€1,531 | -49.9% |
| Furniture and vehicles | 24 | €8,985 | €5,791 | -€3,194 | -35.5% |
| Financial fixed assets | 28 | €1,163,587 | €0 | -€1.2m | -100% |
| Current assets | 29/58 | €4,926,438 | €3,331,302 | -€1.6m | -32.4% |
| Amounts receivable within one year | 40/41 | €269,109 | €677,505 | +€408,396 | +152% |
| Trade receivables | 40 | €6,397 | €17,331 | +€10,934 | +171% |
| Other amounts receivable | 41 | €262,712 | €660,174 | +€397,462 | +151% |
| Current investments | 50/53 | €2,489,425 | €1,033 | -€2.5m | -100.0% |
| Cash at bank and in hand | 54/58 | €2,091,449 | €2,650,082 | +€558,633 | +26.7% |
| Deferred charges and accrued income | 490/1 | €76,455 | €2,683 | -€73,771 | -96.5% |
| Total equity and liabilities | 10/49 | €7,711,828 | €5,133,024 | -€2.6m | -33.4% |
| Equity | 10/15 | €1,946,639 | €1,888,967 | -€57,672 | -3.0% |
| Contributions | 10/11 | €20,625 | €20,625 | = | 0.0% |
| Reserves | 13 | €1,926,014 | €2,054,525 | +€128,511 | +6.7% |
| Tax-exempt reserves | 132 | €600,841 | €729,351 | +€128,511 | +21.4% |
| Distributable reserves | 133 | €1,325,174 | €1,325,174 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€186,183 | -€186,183 | |
| Provisions and deferred taxes | 16 | €200,280 | €192,586 | -€7,694 | -3.8% |
| Deferred taxes | 168 | €200,280 | €192,586 | -€7,694 | -3.8% |
| Amounts payable | 17/49 | €5,564,908 | €3,051,471 | -€2.5m | -45.2% |
| Amounts payable after more than one year | 17 | €1,077,778 | €708,334 | -€369,444 | -34.3% |
| Financial debts | 170/4 | €1,077,778 | €708,334 | -€369,444 | -34.3% |
| Amounts payable within one year | 42/48 | €4,457,287 | €2,306,370 | -€2.2m | -48.3% |
| Current portion of amounts payable after more than one year | 42 | €133,333 | €100,000 | -€33,333 | -25.0% |
| Trade debts | 44 | €1,103 | €11,371 | +€10,268 | +931% |
| Suppliers | 440/4 | €1,103 | €11,371 | +€10,268 | +931% |
| Taxes, remuneration and social security | 45 | €407 | €14,243 | +€13,836 | +3,399% |
| Taxes | 450/3 | €407 | €14,243 | +€13,836 | +3,399% |
| Other amounts payable | 47/48 | €4,322,444 | €2,180,757 | -€2.1m | -49.5% |
| Accrued charges and deferred income | 492/3 | €29,843 | €36,767 | +€6,924 | +23.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,495 | €65,836 | +€4,341 | +7.1% |
| Other operating charges | 640/8 | €12,727 | €13,821 | +€1,095 | +8.6% |
| Non-recurring operating charges | 66A | €14,315 | €9,286 | -€5,029 | -35.1% |
| Gross operating margin | 9900 | -€36,274 | -€44,493 | -€8,219 | -22.7% |
| Operating profit (loss) | 9901 | -€124,811 | -€133,436 | -€8,625 | -6.9% |
| Financial income | 75/76B | €2,367,992 | €53,258 | -€2.3m | -97.8% |
| Recurring financial income | 75 | €102,485 | €53,258 | -€49,227 | -48.0% |
| Non-recurring financial income | 76B | €2,265,507 | €0 | -€2.3m | -100% |
| Financial charges | 65/66B | €77,114 | €9,540 | -€67,574 | -87.6% |
| Recurring financial charges | 65 | €77,114 | €9,540 | -€67,574 | -87.6% |
| Profit (loss) for the period before taxes | 9903 | €2,166,066 | -€89,718 | -€2.3m | |
| Transfer from deferred taxes | 780 | €7,694 | €7,694 | = | 0.0% |
| Profit (loss) for the period | 9904 | €2,173,760 | -€82,024 | -€2.3m | |
| Transfer from tax-exempt reserves | 789 | €23,083 | €26,981 | +€3,898 | +16.9% |
| Transfer to tax-exempt reserves | 689 | - | €155,491 | +€155,491 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,196,843 | -€210,535 | -€2.4m |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.