De Veegman: 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.
De Veegman
Largest movements
- Tangible fixed assets +€569,986
up €569,986 (+88.9%), from €641,143 to €1.2m
of which Land and buildings: +€633,937
- Receivables within one year -€72,084
down €72,084 (-12.4%), from €581,275 to €509,191
of which Trade receivables: -€88,979
- Debts after one year +€356,480
up €356,480 (+105%), from €338,958 to €695,438
- Reserves +€106,670
up €106,670 (+17.7%), from €603,682 to €710,353
- Tax, wage and social debts +€63,059
up €63,059 (+268%), from €23,537 to €86,596
of which Taxes: +€65,622
- Trade debts -€18,612
down €18,612 (-18.1%), from €102,589 to €83,977
- Current portion of long-term debt -€18,367
down €18,367 (-8.3%), from €220,630 to €202,263
- Gross operating margin +€211,905
up €211,905 (+25.4%), from €834,635 to €1.0m
- Staff costs +€103,795
up €103,795 (+38.8%), from €267,205 to €370,999
- Other operating charges -€62,793
down €62,793 (-53.4%), from €117,517 to €54,725
- Depreciation +€56,990
up €56,990 (+19.0%), from €299,409 to €356,399
- Taxes +€53,415
up €53,415 (+112%), from €47,607 to €101,022
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 | €1,300,406 | €1,790,285 | +€489,879 | +37.7% |
| Fixed assets | 21/28 | €641,143 | €1,211,129 | +€569,986 | +88.9% |
| Tangible fixed assets | 22/27 | €641,143 | €1,211,129 | +€569,986 | +88.9% |
| Land and buildings | 22 | - | €633,937 | +€633,937 | |
| Plant, machinery and equipment | 23 | €84,311 | €105,326 | +€21,015 | +24.9% |
| Furniture and vehicles | 24 | €556,832 | €471,866 | -€84,966 | -15.3% |
| Current assets | 29/58 | €659,263 | €579,155 | -€80,107 | -12.2% |
| Amounts receivable within one year | 40/41 | €581,275 | €509,191 | -€72,084 | -12.4% |
| Trade receivables | 40 | €348,345 | €259,366 | -€88,979 | -25.5% |
| Other amounts receivable | 41 | €232,930 | €249,825 | +€16,895 | +7.3% |
| Cash at bank and in hand | 54/58 | €60,068 | €49,462 | -€10,606 | -17.7% |
| Deferred charges and accrued income | 490/1 | €17,920 | €20,502 | +€2,583 | +14.4% |
| Total equity and liabilities | 10/49 | €1,300,406 | €1,790,285 | +€489,879 | +37.7% |
| Equity | 10/15 | €613,682 | €720,353 | +€106,670 | +17.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €603,682 | €710,353 | +€106,670 | +17.7% |
| Distributable reserves | 133 | €603,682 | €710,353 | +€106,670 | +17.7% |
| Amounts payable | 17/49 | €686,724 | €1,069,932 | +€383,209 | +55.8% |
| Amounts payable after more than one year | 17 | €338,958 | €695,438 | +€356,480 | +105% |
| Financial debts | 170/4 | €338,958 | €695,438 | +€356,480 | +105% |
| Amounts payable within one year | 42/48 | €347,756 | €373,836 | +€26,080 | +7.5% |
| Current portion of amounts payable after more than one year | 42 | €220,630 | €202,263 | -€18,367 | -8.3% |
| Trade debts | 44 | €102,589 | €83,977 | -€18,612 | -18.1% |
| Suppliers | 440/4 | €102,589 | €83,977 | -€18,612 | -18.1% |
| Taxes, remuneration and social security | 45 | €23,537 | €86,596 | +€63,059 | +268% |
| Taxes | 450/3 | €2,269 | €67,890 | +€65,622 | +2,892% |
| Remuneration and social security | 454/9 | €21,269 | €18,706 | -€2,563 | -12.0% |
| Other amounts payable | 47/48 | €1,000 | €1,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €9 | €658 | +€649 | +7,046% |
| Non-recurring operating income | 76A | €10,366 | €103,067 | +€92,701 | +894% |
| Remuneration, social security and pensions | 62 | €267,205 | €370,999 | +€103,795 | +38.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €299,409 | €356,399 | +€56,990 | +19.0% |
| Other operating charges | 640/8 | €117,517 | €54,725 | -€62,793 | -53.4% |
| Gross operating margin | 9900 | €834,635 | €1,046,540 | +€211,905 | +25.4% |
| Operating profit (loss) | 9901 | €150,503 | €264,417 | +€113,913 | +75.7% |
| Financial income | 75/76B | €5 | €9 | +€4 | +74.5% |
| Recurring financial income | 75 | €5 | €9 | +€4 | +74.5% |
| Financial charges | 65/66B | €23,361 | €56,733 | +€33,372 | +143% |
| Recurring financial charges | 65 | €23,361 | €56,733 | +€33,372 | +143% |
| Profit (loss) for the period before taxes | 9903 | €127,148 | €207,692 | +€80,545 | +63.3% |
| Income taxes | 67/77 | €47,607 | €101,022 | +€53,415 | +112% |
| Profit (loss) for the period | 9904 | €79,541 | €106,670 | +€27,130 | +34.1% |
| Profit (loss) for the period to be appropriated | 9905 | €79,541 | €106,670 | +€27,130 | +34.1% |
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 28 October 2026 via checked.be.