VYTECH ZELE: what changed
VYTECH ZELE
Largest movements
- Receivables within one year -€40,796
down €40,796 (-6.1%), from €664,973 to €624,177
of which Trade receivables: -€130,673
- Deferred charges and accrued income +€13,454
up €13,454 (+341%), from €3,948 to €17,402
- Cash -€10,846
down €10,846 (-15.2%), from €71,363 to €60,517
mainly Debts after one year (-€206,543) and Advances received (-€92,659)
- Tangible fixed assets -€8,270
down €8,270 (-22.3%), from €37,156 to €28,886
of which Plant, machinery and equipment: -€9,871
- Debts after one year -€206,543
no longer reported in 2025 (was €206,543)
- Profit (loss) carried forward +€181,214
up €181,214, from -€67,139 to €114,076
- Advances received -€92,659
down €92,659 (-72.3%), from €128,115 to €35,456
- Tax, wage and social debts +€58,538
up €58,538 (+346%), from €16,933 to €75,470
of which Taxes: +€43,015
- Gross operating margin +€329,999
up €329,999 (+200%), from €164,666 to €494,665
- Staff costs +€158,658
up €158,658 (+154%), from €103,069 to €261,726
- Taxes +€44,360
new in 2025: €44,360
- Financial income +€10,895
up €10,895 (+345%), from €3,155 to €14,050
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €814,188 | €762,971 | -€51,217 | -6.3% |
| Formation expenses | 20 | €948 | €72 | -€876 | -92.4% |
| Fixed assets | 21/28 | €37,201 | €29,109 | -€8,092 | -21.8% |
| Tangible fixed assets | 22/27 | €37,156 | €28,886 | -€8,270 | -22.3% |
| Plant, machinery and equipment | 23 | €25,609 | €15,738 | -€9,871 | -38.5% |
| Furniture and vehicles | 24 | €7,332 | €9,416 | +€2,084 | +28.4% |
| Other tangible fixed assets | 26 | €4,215 | €3,733 | -€483 | -11.5% |
| Financial fixed assets | 28 | €45 | €223 | +€178 | +396% |
| Current assets | 29/58 | €776,040 | €733,790 | -€42,250 | -5.4% |
| Stocks and contracts in progress | 3 | €35,756 | €31,694 | -€4,062 | -11.4% |
| Contracts in progress | 37 | €35,756 | €31,694 | -€4,062 | -11.4% |
| Amounts receivable within one year | 40/41 | €664,973 | €624,177 | -€40,796 | -6.1% |
| Trade receivables | 40 | €477,171 | €346,498 | -€130,673 | -27.4% |
| Other amounts receivable | 41 | €187,802 | €277,679 | +€89,877 | +47.9% |
| Cash at bank and in hand | 54/58 | €71,363 | €60,517 | -€10,846 | -15.2% |
| Deferred charges and accrued income | 490/1 | €3,948 | €17,402 | +€13,454 | +341% |
| Total equity and liabilities | 10/49 | €814,188 | €762,971 | -€51,217 | -6.3% |
| Equity | 10/15 | €132,861 | €314,076 | +€181,214 | +136% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,139 | €114,076 | +€181,214 | |
| Amounts payable | 17/49 | €681,327 | €448,895 | -€232,432 | -34.1% |
| Amounts payable after more than one year | 17 | €206,543 | - | -€206,543 | |
| Other amounts payable | 178/9 | €206,543 | - | -€206,543 | |
| Amounts payable within one year | 42/48 | €471,555 | €444,053 | -€27,502 | -5.8% |
| Trade debts | 44 | €326,507 | €333,126 | +€6,620 | +2.0% |
| Suppliers | 440/4 | €326,507 | €333,126 | +€6,620 | +2.0% |
| Advances received on contracts in progress | 46 | €128,115 | €35,456 | -€92,659 | -72.3% |
| Taxes, remuneration and social security | 45 | €16,933 | €75,470 | +€58,538 | +346% |
| Taxes | 450/3 | €4,596 | €47,611 | +€43,015 | +936% |
| Remuneration and social security | 454/9 | €12,337 | €27,860 | +€15,523 | +126% |
| Accrued charges and deferred income | 492/3 | €3,229 | €4,842 | +€1,613 | +50.0% |
| Remuneration, social security and pensions | 62 | €103,069 | €261,726 | +€158,658 | +154% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,477 | €13,395 | +€2,917 | +27.8% |
| Other operating charges | 640/8 | €3,691 | €3,296 | -€396 | -10.7% |
| Gross operating margin | 9900 | €164,666 | €494,665 | +€329,999 | +200% |
| Operating profit (loss) | 9901 | €47,429 | €216,248 | +€168,819 | +356% |
| Financial income | 75/76B | €3,155 | €14,050 | +€10,895 | +345% |
| Recurring financial income | 75 | €3,155 | €14,050 | +€10,895 | +345% |
| Financial charges | 65/66B | €8,322 | €4,724 | -€3,598 | -43.2% |
| Recurring financial charges | 65 | €8,322 | €4,724 | -€3,598 | -43.2% |
| Profit (loss) for the period before taxes | 9903 | €42,262 | €225,574 | +€183,313 | +434% |
| Income taxes | 67/77 | - | €44,360 | +€44,360 | |
| Profit (loss) for the period | 9904 | €42,262 | €181,214 | +€138,953 | +329% |
| Profit (loss) for the period to be appropriated | 9905 | €42,262 | €181,214 | +€138,953 | +329% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.