VEXCA: 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.
VEXCA
Largest movements
- Cash +€27,277
up €27,277 (+208.2%), from €13,100 to €40,378
mainly Other debts (+€38,999) and Net result for the year (+€8,368)
- Tangible fixed assets -€5,600
down €5,600 (-25.0%), from €22,400 to €16,800
- Receivables within one year -€2,889
down €2,889 (-7.0%), from €41,125 to €38,236
- Other debts +€38,999
up €38,999 (+1088.1%), from €3,584 to €42,584
- Trade debts -€22,882
down €22,882 (-95.3%), from €24,023 to €1,140
- Reserves +€5,000
up €5,000 (+100.0%), from €5,000 to €10,000
of which Tax-exempt reserves: +€10,000
- Accrued charges and deferred income -€4,399
down €4,399 (-18.6%), from €23,673 to €19,273
- Profit (loss) carried forward +€3,368
up €3,368 (+1202.0%), from €280 to €3,648
- Gross operating margin +€3,888
up €3,888 (+27.8%), from €13,972 to €17,859
- Taxes +€851
up €851 (+28.6%), from €2,980 to €3,831
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 | €76,625 | €95,414 | +€18,789 | +24.5% |
| Fixed assets | 21/28 | €22,400 | €16,800 | -€5,600 | -25.0% |
| Tangible fixed assets | 22/27 | €22,400 | €16,800 | -€5,600 | -25.0% |
| Plant, machinery and equipment | 23 | €6,000 | €4,500 | -€1,500 | -25.0% |
| Furniture and vehicles | 24 | €10,720 | €8,040 | -€2,680 | -25.0% |
| Other tangible fixed assets | 26 | €5,680 | €4,260 | -€1,420 | -25.0% |
| Current assets | 29/58 | €54,225 | €78,614 | +€24,389 | +45.0% |
| Amounts receivable within one year | 40/41 | €41,125 | €38,236 | -€2,889 | -7.0% |
| Trade receivables | 40 | €41,125 | €38,236 | -€2,889 | -7.0% |
| Cash at bank and in hand | 54/58 | €13,100 | €40,378 | +€27,277 | +208.2% |
| Total equity and liabilities | 10/49 | €76,625 | €95,414 | +€18,789 | +24.5% |
| Equity | 10/15 | €10,280 | €18,648 | +€8,368 | +81.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €10,000 | +€5,000 | +100.0% |
| Tax-exempt reserves | 132 | - | €10,000 | +€10,000 | |
| Distributable reserves | 133 | €5,000 | - | -€5,000 | |
| Profit (loss) carried forward | 14 | €280 | €3,648 | +€3,368 | +1202.0% |
| Amounts payable | 17/49 | €66,345 | €76,765 | +€10,421 | +15.7% |
| Amounts payable within one year | 42/48 | €42,672 | €57,492 | +€14,820 | +34.7% |
| Trade debts | 44 | €24,023 | €1,140 | -€22,882 | -95.3% |
| Suppliers | 440/4 | €24,023 | €1,140 | -€22,882 | -95.3% |
| Taxes, remuneration and social security | 45 | €15,065 | €13,768 | -€1,297 | -8.6% |
| Taxes | 450/3 | €15,065 | €9,137 | -€5,929 | -39.4% |
| Remuneration and social security | 454/9 | - | €4,631 | +€4,631 | |
| Other amounts payable | 47/48 | €3,584 | €42,584 | +€38,999 | +1088.1% |
| Accrued charges and deferred income | 492/3 | €23,673 | €19,273 | -€4,399 | -18.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,600 | €5,600 | = | 0.0% |
| Gross operating margin | 9900 | €13,972 | €17,859 | +€3,888 | +27.8% |
| Operating profit (loss) | 9901 | €8,372 | €12,259 | +€3,888 | +46.4% |
| Financial income | 75/76B | €1 | €0 | -€1 | -87.7% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -87.7% |
| Financial charges | 65/66B | €112 | €60 | -€52 | -46.1% |
| Recurring financial charges | 65 | €112 | €60 | -€52 | -46.1% |
| Profit (loss) for the period before taxes | 9903 | €8,260 | €12,199 | +€3,939 | +47.7% |
| Income taxes | 67/77 | €2,980 | €3,831 | +€851 | +28.6% |
| Profit (loss) for the period | 9904 | €5,280 | €8,368 | +€3,088 | +58.5% |
| Transfer to tax-exempt reserves | 689 | - | €5,000 | +€5,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,280 | €3,368 | -€1,912 | -36.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.