VEGACO: 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.
VEGACO
Largest movements
- Receivables within one year -€65,238
down €65,238 (-61.2%), from €106,625 to €41,387
of which Other amounts receivable: -€67,079
- Cash +€9,629
up €9,629 (+22.5%), from €42,791 to €52,420
mainly Receivables within one year (+€65,238) and Other debts (+€33,833)
- Tangible fixed assets -€7,613
down €7,613 (-2.3%), from €324,190 to €316,577
of which Land and buildings: -€6,150
- Reserves -€99,107
down €99,107 (-39.8%), from €249,197 to €150,091
of which Distributable reserves: -€99,107
- Other debts +€33,833
up €33,833 (+18.5%), from €183,009 to €216,843
- Gross operating margin +€6,298
up €6,298 (+18.0%), from €35,022 to €41,320
- Financial charges -€2,057
down €2,057 (-21.7%), from €9,460 to €7,404
- Taxes +€1,436
up €1,436 (+27.3%), from €5,252 to €6,688
- Financial income -€1,220
down €1,220 (-11.9%), from €10,274 to €9,054
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 | €473,606 | €410,384 | -€63,222 | -13.3% |
| Fixed assets | 21/28 | €324,190 | €316,577 | -€7,613 | -2.3% |
| Tangible fixed assets | 22/27 | €324,190 | €316,577 | -€7,613 | -2.3% |
| Land and buildings | 22 | €318,100 | €311,950 | -€6,150 | -1.9% |
| Plant, machinery and equipment | 23 | €6,023 | €4,627 | -€1,397 | -23.2% |
| Furniture and vehicles | 24 | €67 | - | -€67 | |
| Current assets | 29/58 | €149,416 | €93,807 | -€55,609 | -37.2% |
| Amounts receivable within one year | 40/41 | €106,625 | €41,387 | -€65,238 | -61.2% |
| Trade receivables | 40 | €6,546 | €8,387 | +€1,841 | +28.1% |
| Other amounts receivable | 41 | €100,079 | €33,000 | -€67,079 | -67.0% |
| Cash at bank and in hand | 54/58 | €42,791 | €52,420 | +€9,629 | +22.5% |
| Total equity and liabilities | 10/49 | €473,606 | €410,384 | -€63,222 | -13.3% |
| Equity | 10/15 | €274,197 | €175,091 | -€99,107 | -36.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €249,197 | €150,091 | -€99,107 | -39.8% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €246,697 | €147,591 | -€99,107 | -40.2% |
| Amounts payable | 17/49 | €199,408 | €235,293 | +€35,885 | +18.0% |
| Amounts payable within one year | 42/48 | €190,908 | €227,933 | +€37,024 | +19.4% |
| Trade debts | 44 | €1,668 | €3,734 | +€2,066 | +124% |
| Suppliers | 440/4 | €1,668 | €3,734 | +€2,066 | +124% |
| Taxes, remuneration and social security | 45 | €6,231 | €7,356 | +€1,125 | +18.1% |
| Taxes | 450/3 | €3,096 | €4,221 | +€1,125 | +36.3% |
| Remuneration and social security | 454/9 | €3,135 | €3,135 | = | 0.0% |
| Other amounts payable | 47/48 | €183,009 | €216,843 | +€33,833 | +18.5% |
| Accrued charges and deferred income | 492/3 | €8,500 | €7,360 | -€1,140 | -13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,946 | €7,613 | -€333 | -4.2% |
| Other operating charges | 640/8 | €2,775 | €2,776 | +€1 | 0.0% |
| Gross operating margin | 9900 | €35,022 | €41,320 | +€6,298 | +18.0% |
| Operating profit (loss) | 9901 | €24,301 | €30,931 | +€6,630 | +27.3% |
| Financial income | 75/76B | €10,274 | €9,054 | -€1,220 | -11.9% |
| Recurring financial income | 75 | €10,274 | €9,054 | -€1,220 | -11.9% |
| Financial charges | 65/66B | €9,460 | €7,404 | -€2,057 | -21.7% |
| Recurring financial charges | 65 | €9,460 | €7,404 | -€2,057 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | €25,115 | €32,582 | +€7,467 | +29.7% |
| Income taxes | 67/77 | €5,252 | €6,688 | +€1,436 | +27.3% |
| Profit (loss) for the period | 9904 | €19,863 | €25,893 | +€6,031 | +30.4% |
| Profit (loss) for the period to be appropriated | 9905 | €19,863 | €25,893 | +€6,031 | +30.4% |
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 24 October 2026 via checked.be.