VEXDO: 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.
VEXDO
Largest movements
- Receivables within one year -€9,830
down €9,830 (-24.5%), from €40,074 to €30,244
of which Trade receivables: -€9,590
- Cash +€1,690
up €1,690 (+25.2%), from €6,712 to €8,402
mainly Receivables within one year (+€9,830) and Other debts (+€5,758)
- Tangible fixed assets -€856
down €856 (-65.4%), from €1,309 to €453
- Advances received -€7,121
no longer reported in 2025 (was €7,121)
- Other debts +€5,758
up €5,758 (+476%), from €1,209 to €6,967
- Current portion of long-term debt -€4,788
down €4,788 (-91.4%), from €5,237 to €450
- Tax, wage and social debts -€2,462
down €2,462 (-16.3%), from €15,131 to €12,669
of which Remuneration and social security: -€2,500
- Trade debts +€720
up €720 (+40.6%), from €1,771 to €2,491
- Gross operating margin +€3,749
up €3,749 (+45.2%), from €8,298 to €12,047
- Taxes +€1,284
up €1,284 (+88.2%), from €1,456 to €2,739
- Financial charges -€1,260
down €1,260 (-41.6%), from €3,030 to €1,770
- Depreciation -€256
down €256 (-23.0%), from €1,112 to €856
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 | €48,179 | €39,506 | -€8,673 | -18.0% |
| Fixed assets | 21/28 | €1,309 | €453 | -€856 | -65.4% |
| Tangible fixed assets | 22/27 | €1,309 | €453 | -€856 | -65.4% |
| Furniture and vehicles | 24 | €1,309 | €453 | -€856 | -65.4% |
| Current assets | 29/58 | €46,871 | €39,054 | -€7,817 | -16.7% |
| Amounts receivable within one year | 40/41 | €40,074 | €30,244 | -€9,830 | -24.5% |
| Trade receivables | 40 | €39,834 | €30,244 | -€9,590 | -24.1% |
| Other amounts receivable | 41 | €240 | - | -€240 | |
| Cash at bank and in hand | 54/58 | €6,712 | €8,402 | +€1,690 | +25.2% |
| Deferred charges and accrued income | 490/1 | €85 | €407 | +€323 | +382% |
| Total equity and liabilities | 10/49 | €48,179 | €39,506 | -€8,673 | -18.0% |
| Equity | 10/15 | €15,680 | €15,680 | = | 0.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €13,180 | €13,180 | = | 0.0% |
| Distributable reserves | 133 | €13,180 | €13,180 | = | 0.0% |
| Amounts payable | 17/49 | €32,500 | €23,827 | -€8,673 | -26.7% |
| Amounts payable after more than one year | 17 | €450 | - | -€450 | |
| Financial debts | 170/4 | €450 | - | -€450 | |
| Amounts payable within one year | 42/48 | €30,470 | €22,577 | -€7,893 | -25.9% |
| Current portion of amounts payable after more than one year | 42 | €5,237 | €450 | -€4,788 | -91.4% |
| Trade debts | 44 | €1,771 | €2,491 | +€720 | +40.6% |
| Suppliers | 440/4 | €1,771 | €2,491 | +€720 | +40.6% |
| Advances received on contracts in progress | 46 | €7,121 | - | -€7,121 | |
| Taxes, remuneration and social security | 45 | €15,131 | €12,669 | -€2,462 | -16.3% |
| Taxes | 450/3 | €12,631 | €12,669 | +€38 | +0.3% |
| Remuneration and social security | 454/9 | €2,500 | - | -€2,500 | |
| Other amounts payable | 47/48 | €1,209 | €6,967 | +€5,758 | +476% |
| Accrued charges and deferred income | 492/3 | €1,580 | €1,250 | -€330 | -20.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,112 | €856 | -€256 | -23.0% |
| Other operating charges | 640/8 | €1,360 | €1,286 | -€74 | -5.4% |
| Gross operating margin | 9900 | €8,298 | €12,047 | +€3,749 | +45.2% |
| Operating profit (loss) | 9901 | €5,826 | €9,905 | +€4,079 | +70.0% |
| Financial income | 75/76B | €10 | €0 | -€10 | -99.7% |
| Recurring financial income | 75 | €10 | €0 | -€10 | -99.7% |
| Financial charges | 65/66B | €3,030 | €1,770 | -€1,260 | -41.6% |
| Recurring financial charges | 65 | €3,030 | €1,770 | -€1,260 | -41.6% |
| Profit (loss) for the period before taxes | 9903 | €2,805 | €8,135 | +€5,330 | +190% |
| Income taxes | 67/77 | €1,456 | €2,739 | +€1,284 | +88.2% |
| Profit (loss) for the period | 9904 | €1,349 | €5,395 | +€4,046 | +300% |
| Profit (loss) for the period to be appropriated | 9905 | €1,349 | €5,395 | +€4,046 | +300% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.