VEVACON: 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.
VEVACON
Largest movements
- Tangible fixed assets -€35,503
down €35,503 (-8.3%), from €426,678 to €391,175
of which Land and buildings: -€26,693
- Receivables within one year -€23,773
down €23,773 (-21.5%), from €110,710 to €86,937
of which Trade receivables: -€16,384
- Cash +€22,357
up €22,357 (+347.1%), from €6,440 to €28,797
mainly Other debts (+€116,739) and Depreciation (+€32,719)
- Other debts +€116,739
up €116,739 (+37.6%), from €310,133 to €426,872
- Profit (loss) carried forward -€72,887
down €72,887 (-40.9%), from -€178,371 to -€251,258
- Trade debts -€34,338
down €34,338 (-97.7%), from €35,152 to €814
- Debts after one year -€27,411
down €27,411 (-5.2%), from €525,769 to €498,358
- Current portion of long-term debt -€14,266
down €14,266 (-34.2%), from €41,677 to €27,411
- Gross operating margin -€248,986
down €248,986, from €237,039 to -€11,947
- Depreciation -€13,620
down €13,620 (-29.4%), from €46,339 to €32,719
- Financial charges -€7,955
down €7,955 (-36.3%), from €21,918 to €13,963
- Other operating charges -€7,758
down €7,758 (-41.8%), from €18,576 to €10,818
- Provisions -€6,632
down €6,632 (-538.3%), from -€1,232 to -€7,864
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €851,187 | €809,570 | -€41,617 | -4.9% |
| Fixed assets | 21/28 | €720,459 | €684,807 | -€35,652 | -4.9% |
| Tangible fixed assets | 22/27 | €426,678 | €391,175 | -€35,503 | -8.3% |
| Land and buildings | 22 | €414,212 | €387,519 | -€26,693 | -6.4% |
| Plant, machinery and equipment | 23 | - | €2,327 | +€2,327 | |
| Furniture and vehicles | 24 | €2,491 | €1,328 | -€1,162 | -46.7% |
| Leasing and similar rights | 25 | €9,975 | - | -€9,975 | |
| Financial fixed assets | 28 | €293,781 | €293,632 | -€149 | -0.1% |
| Current assets | 29/58 | €130,728 | €124,764 | -€5,964 | -4.6% |
| Amounts receivable within one year | 40/41 | €110,710 | €86,937 | -€23,773 | -21.5% |
| Trade receivables | 40 | €23,000 | €6,616 | -€16,384 | -71.2% |
| Other amounts receivable | 41 | €87,710 | €80,321 | -€7,389 | -8.4% |
| Cash at bank and in hand | 54/58 | €6,440 | €28,797 | +€22,357 | +347.1% |
| Deferred charges and accrued income | 490/1 | €13,578 | €9,030 | -€4,548 | -33.5% |
| Total equity and liabilities | 10/49 | €851,187 | €809,570 | -€41,617 | -4.9% |
| Equity | 10/15 | -€85,961 | -€158,848 | -€72,887 | -84.8% |
| Contributions | 10/11 | €8,634 | €8,634 | = | 0.0% |
| Reserves | 13 | €83,776 | €83,776 | = | 0.0% |
| Non-distributable reserves | 130/1 | €24,862 | €24,862 | = | 0.0% |
| Reserves not available under the articles | 1311 | €24,862 | €24,862 | = | 0.0% |
| Tax-exempt reserves | 132 | €58,914 | €58,914 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€178,371 | -€251,258 | -€72,887 | -40.9% |
| Provisions and deferred taxes | 16 | €7,864 | - | -€7,864 | |
| Provisions for liabilities and charges | 160/5 | €7,864 | - | -€7,864 | |
| Other liabilities and charges | 164/5 | €7,864 | - | -€7,864 | |
| Amounts payable | 17/49 | €929,284 | €968,418 | +€39,134 | +4.2% |
| Amounts payable after more than one year | 17 | €525,769 | €498,358 | -€27,411 | -5.2% |
| Financial debts | 170/4 | €525,769 | €498,358 | -€27,411 | -5.2% |
| Amounts payable within one year | 42/48 | €396,310 | €459,216 | +€62,906 | +15.9% |
| Current portion of amounts payable after more than one year | 42 | €41,677 | €27,411 | -€14,266 | -34.2% |
| Trade debts | 44 | €35,152 | €814 | -€34,338 | -97.7% |
| Suppliers | 440/4 | €35,152 | €814 | -€34,338 | -97.7% |
| Taxes, remuneration and social security | 45 | €9,348 | €4,119 | -€5,229 | -55.9% |
| Taxes | 450/3 | €9,348 | €4,119 | -€5,229 | -55.9% |
| Other amounts payable | 47/48 | €310,133 | €426,872 | +€116,739 | +37.6% |
| Accrued charges and deferred income | 492/3 | €7,205 | €10,844 | +€3,639 | +50.5% |
| Non-recurring operating income | 76A | €216,246 | - | -€216,246 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,339 | €32,719 | -€13,620 | -29.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€1,232 | -€7,864 | -€6,632 | -538.3% |
| Other operating charges | 640/8 | €18,576 | €10,818 | -€7,758 | -41.8% |
| Non-recurring operating charges | 66A | €3,689 | €13,179 | +€9,490 | +257.2% |
| Gross operating margin | 9900 | €237,039 | -€11,947 | -€248,986 | |
| Operating profit (loss) | 9901 | €169,667 | -€60,799 | -€230,466 | |
| Financial income | 75/76B | €3,453 | €2,146 | -€1,308 | -37.9% |
| Recurring financial income | 75 | €3,453 | €2,146 | -€1,308 | -37.9% |
| Financial charges | 65/66B | €21,918 | €13,963 | -€7,955 | -36.3% |
| Recurring financial charges | 65 | €21,918 | €13,963 | -€7,955 | -36.3% |
| Profit (loss) for the period before taxes | 9903 | €151,202 | -€72,616 | -€223,818 | |
| Income taxes | 67/77 | €263 | €271 | +€7 | +2.8% |
| Profit (loss) for the period | 9904 | €150,939 | -€72,887 | -€223,826 | |
| Profit (loss) for the period to be appropriated | 9905 | €150,939 | -€72,887 | -€223,826 |
Source: filed annual accounts (NBB), fiscal years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.