NEW VEPELI: 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.
What changed
NEW VEPELI
NACE 10.890, Manufacture of food products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€8.8m
2024 · €8.8m+€78,949
Equity
€14.4m
2024 · €9.1m+€5.3m
Cash
€2.5m
2024 · €1.2m+€1.3m
Balance sheet total
€24.7m
2024 · €32.2m-€7.5m
Largest movements
Assets
- Current investments -€9.8m
down €9.8m (-43.1%), from €22.7m to €12.9m
- Cash +€1.3m
up €1.3m (+102%), from €1.2m to €2.5m
mainly Current investments (+€9.8m) and Net result for the year (+€8.8m)
- Receivables within one year +€700,501
up €700,501 (+15.3%), from €4.6m to €5.3m
of which Trade receivables: +€895,351
Equity and liabilities
- Other debts -€14.5m
down €14.5m (-80.6%), from €18.0m to €3.5m
- Reserves +€5.3m
up €5.3m (+61.0%), from €8.8m to €14.1m
of which Distributable reserves: +€5.2m
- Trade debts +€1.8m
up €1.8m (+67.4%), from €2.6m to €4.4m
Income statement
- Goods and materials -€1.9m
down €1.9m (-9.5%), from €19.6m to €17.7m
of which Purchases: -€1.5m
- Services and other goods +€797,872
up €797,872 (+15.4%), from €5.2m to €6.0m
- Turnover -€628,220
down €628,220 (-1.7%), from €37.1m to €36.5m
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.
Result 2024
€8.8m
Turnover
-€628,220
Other operating income
+€72,259
Goods and materials
+€1.9m
Services and other goods
-€797,872
Staff costs
-€89,894
Depreciation
-€122,203
Other operating charges
+€11,237
Other operating items
+€42,882
Financial income
-€324,058
Financial charges
+€938
Taxes
+€26,648
Deferred taxes and other
+€18,247
Result 2025
€8.8m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€4.1m
Investment
+€8.8m
Financing
-€3.5m
Cash 2024
€1.2m
From operations (derived)
-€4.1m
Net result for the year
+€8.8m
Depreciation
+€770,553
Stocks and contracts
-€222,900
Receivables within one year
-€700,501
Deferred charges and accrued income
+€42,624
Provisions
+€51,529
Trade debts
+€1.8m
Tax, wage and social debts
-€153,544
Other debts
-€14.5m
Accrued charges and deferred income
-€23
Investment (derived)
+€8.8m
Investment in fixed assets (net)
-€954,260
Current investments
+€9.8m
Financing
-€3.5m
Short-term financial debts
-€98
Contributions, distributions and other
-€3.5m
Cash 2025
€2.5m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €32,163,306 | €24,683,993 | -€7.5m | -23.3% |
| Fixed assets | 21/28 | €2,871,071 | €3,054,778 | +€183,707 | +6.4% |
| Tangible fixed assets | 22/27 | €2,839,776 | €3,023,348 | +€183,572 | +6.5% |
| Land and buildings | 22 | €957,225 | €854,490 | -€102,735 | -10.7% |
| Plant, machinery and equipment | 23 | €1,638,386 | €1,883,830 | +€245,444 | +15.0% |
| Furniture and vehicles | 24 | €244,166 | €285,029 | +€40,864 | +16.7% |
| Financial fixed assets | 28 | €31,295 | €31,430 | +€135 | +0.4% |
| Affiliated companies | 280/1 | €30,600 | €30,600 | = | 0.0% |
| Participating interests | 280 | €30,600 | €30,600 | = | 0.0% |
| Other financial fixed assets | 284/8 | €695 | €830 | +€135 | +19.4% |
| Amounts receivable and cash guarantees | 285/8 | €695 | €830 | +€135 | +19.4% |
| Current assets | 29/58 | €29,292,235 | €21,629,215 | -€7.7m | -26.2% |
| Stocks and contracts in progress | 3 | €710,840 | €933,741 | +€222,900 | +31.4% |
| Stocks | 30/36 | €710,840 | €933,741 | +€222,900 | +31.4% |
| Raw materials and consumables | 30/31 | €625,857 | €808,208 | +€182,351 | +29.1% |
| Goods purchased for resale | 34 | €84,983 | €125,533 | +€40,550 | +47.7% |
| Amounts receivable within one year | 40/41 | €4,568,271 | €5,268,771 | +€700,501 | +15.3% |
| Trade receivables | 40 | €4,287,061 | €5,182,413 | +€895,351 | +20.9% |
| Other amounts receivable | 41 | €281,210 | €86,359 | -€194,851 | -69.3% |
| Current investments | 50/53 | €22,707,643 | €12,911,680 | -€9.8m | -43.1% |
| Other investments | 51/53 | €22,707,643 | €12,911,680 | -€9.8m | -43.1% |
| Cash at bank and in hand | 54/58 | €1,230,277 | €2,482,444 | +€1.3m | +102% |
| Deferred charges and accrued income | 490/1 | €75,204 | €32,579 | -€42,624 | -56.7% |
| Total equity and liabilities | 10/49 | €32,163,306 | €24,683,993 | -€7.5m | -23.3% |
| Equity | 10/15 | €9,093,660 | €14,441,893 | +€5.3m | +58.8% |
| Contributions | 10/11 | €328,459 | €328,459 | = | 0.0% |
| Capital | 10 | €328,459 | €328,459 | = | 0.0% |
| Issued capital | 100 | €328,459 | €328,459 | = | 0.0% |
| Reserves | 13 | €8,765,201 | €14,113,434 | +€5.3m | +61.0% |
| Non-distributable reserves | 130/1 | €32,846 | €32,846 | = | 0.0% |
| Legal reserve | 130 | €32,846 | €32,846 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,033,991 | €1,188,578 | +€154,586 | +15.0% |
| Distributable reserves | 133 | €7,698,364 | €12,892,011 | +€5.2m | +67.5% |
| Provisions and deferred taxes | 16 | €339,664 | €391,193 | +€51,529 | +15.2% |
| Deferred taxes | 168 | €339,664 | €391,193 | +€51,529 | +15.2% |
| Amounts payable | 17/49 | €22,729,982 | €9,850,907 | -€12.9m | -56.7% |
| Amounts payable within one year | 42/48 | €22,729,899 | €9,850,847 | -€12.9m | -56.7% |
| Financial debts | 43 | €98 | €0 | -€98 | -100% |
| Credit institutions | 430/8 | €98 | €0 | -€98 | -100% |
| Trade debts | 44 | €2,633,301 | €4,407,891 | +€1.8m | +67.4% |
| Suppliers | 440/4 | €2,633,301 | €4,407,891 | +€1.8m | +67.4% |
| Taxes, remuneration and social security | 45 | €2,096,500 | €1,942,956 | -€153,544 | -7.3% |
| Taxes | 450/3 | €1,943,282 | €1,803,404 | -€139,878 | -7.2% |
| Remuneration and social security | 454/9 | €153,217 | €139,551 | -€13,666 | -8.9% |
| Other amounts payable | 47/48 | €18,000,000 | €3,500,000 | -€14.5m | -80.6% |
| Accrued charges and deferred income | 492/3 | €83 | €60 | -€23 | -27.3% |
| Operating income | 70/76A | €37,675,572 | €37,147,856 | -€527,716 | -1.4% |
| Turnover | 70 | €37,104,685 | €36,476,464 | -€628,220 | -1.7% |
| Other operating income | 74 | €115,272 | €187,531 | +€72,259 | +62.7% |
| Non-recurring operating income | 76A | €455,616 | €483,860 | +€28,245 | +6.2% |
| Operating charges | 60/66A | €26,642,364 | €25,757,473 | -€884,891 | -3.3% |
| Goods for resale, raw materials and consumables | 60 | €19,618,128 | €17,749,142 | -€1.9m | -9.5% |
| Purchases | 600/8 | €19,492,718 | €17,972,042 | -€1.5m | -7.8% |
| Change in stocks: decrease (increase) | 609 | €125,411 | -€222,900 | -€348,311 | |
| Services and other goods | 61 | €5,185,804 | €5,983,676 | +€797,872 | +15.4% |
| Remuneration, social security and pensions | 62 | €1,059,234 | €1,149,129 | +€89,894 | +8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €648,350 | €770,553 | +€122,203 | +18.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €116,211 | €104,974 | -€11,237 | -9.7% |
| Non-recurring operating charges | 66A | €14,637 | €0 | -€14,637 | -100% |
| Operating profit (loss) | 9901 | €11,033,208 | €11,390,383 | +€357,175 | +3.2% |
| Financial income | 75/76B | €755,139 | €431,081 | -€324,058 | -42.9% |
| Recurring financial income | 75 | €755,139 | €431,081 | -€324,058 | -42.9% |
| Income from current assets | 751 | €686,480 | €376,813 | -€309,667 | -45.1% |
| Other financial income | 752/9 | €68,660 | €54,268 | -€14,391 | -21.0% |
| Financial charges | 65/66B | €9,743 | €8,806 | -€938 | -9.6% |
| Recurring financial charges | 65 | €9,743 | €8,806 | -€938 | -9.6% |
| Other financial charges | 652/9 | €9,743 | €8,806 | -€938 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €11,778,604 | €11,812,658 | +€34,054 | +0.3% |
| Transfer from deferred taxes | 780 | €19,196 | €59,186 | +€39,991 | +208% |
| Transfer to deferred taxes | 680 | €88,971 | €110,715 | +€21,744 | +24.4% |
| Income taxes | 67/77 | €2,939,544 | €2,912,896 | -€26,648 | -0.9% |
| Taxes | 670/3 | €2,939,544 | €2,912,896 | -€26,648 | -0.9% |
| Profit (loss) for the period | 9904 | €8,769,285 | €8,848,234 | +€78,949 | +0.9% |
| Transfer from tax-exempt reserves | 789 | €57,588 | €177,559 | +€119,972 | +208% |
| Transfer to tax-exempt reserves | 689 | €266,914 | €332,145 | +€65,231 | +24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,559,958 | €8,693,647 | +€133,689 | +1.6% |
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 26 October 2026 via checked.be.