Ratio 4 Vets: 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.
Ratio 4 Vets
Largest movements
- Receivables within one year +€36,394
up €36,394 (+116%), from €31,300 to €67,694
of which Other amounts receivable: +€37,774
- Cash -€20,221
down €20,221 (-44.6%), from €45,373 to €25,151
mainly Contributions, distributions and other (-€43,632) and Receivables within one year (-€36,394)
- Other debts +€39,632
new in 2025: €39,632
- Tax, wage and social debts -€15,634
down €15,634 (-35.0%), from €44,678 to €29,044
- Trade debts -€4,239
down €4,239 (-32.0%), from €13,250 to €9,012
- Gross operating margin -€36,798
down €36,798 (-55.9%), from €65,867 to €29,069
- Financial income +€16,414
up €16,414 (+105%), from €15,581 to €31,995
- Taxes -€12,458
down €12,458 (-43.3%), from €28,801 to €16,344
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 | €184,619 | €203,595 | +€18,977 | +10.3% |
| Fixed assets | 21/28 | €4,381 | €5,663 | +€1,282 | +29.3% |
| Tangible fixed assets | 22/27 | €2,382 | €3,664 | +€1,282 | +53.8% |
| Plant, machinery and equipment | 23 | €2,382 | €3,664 | +€1,282 | +53.8% |
| Financial fixed assets | 28 | €1,999 | €1,999 | = | 0.0% |
| Current assets | 29/58 | €180,238 | €197,932 | +€17,694 | +9.8% |
| Amounts receivable within one year | 40/41 | €31,300 | €67,694 | +€36,394 | +116% |
| Trade receivables | 40 | €5,940 | €4,560 | -€1,380 | -23.2% |
| Other amounts receivable | 41 | €25,360 | €63,134 | +€37,774 | +149% |
| Current investments | 50/53 | €100,517 | €101,353 | +€836 | +0.8% |
| Cash at bank and in hand | 54/58 | €45,373 | €25,151 | -€20,221 | -44.6% |
| Deferred charges and accrued income | 490/1 | €3,048 | €3,735 | +€686 | +22.5% |
| Total equity and liabilities | 10/49 | €184,619 | €203,595 | +€18,977 | +10.3% |
| Equity | 10/15 | €126,690 | €125,500 | -€1,190 | -0.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | €5,000 | €5,000 | = | 0.0% |
| Other | 1109/19 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €120,500 | €120,500 | = | 0.0% |
| Distributable reserves | 133 | €120,500 | €120,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,190 | - | -€1,190 | |
| Amounts payable | 17/49 | €57,929 | €78,095 | +€20,167 | +34.8% |
| Amounts payable within one year | 42/48 | €57,929 | €77,791 | +€19,862 | +34.3% |
| Trade debts | 44 | €13,250 | €9,012 | -€4,239 | -32.0% |
| Suppliers | 440/4 | €13,250 | €9,012 | -€4,239 | -32.0% |
| Advances received on contracts in progress | 46 | - | €103 | +€103 | |
| Taxes, remuneration and social security | 45 | €44,678 | €29,044 | -€15,634 | -35.0% |
| Taxes | 450/3 | €44,678 | €29,044 | -€15,634 | -35.0% |
| Other amounts payable | 47/48 | - | €39,632 | +€39,632 | |
| Accrued charges and deferred income | 492/3 | - | €305 | +€305 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €996 | €1,158 | +€162 | +16.3% |
| Other operating charges | 640/8 | €1,187 | €902 | -€285 | -24.0% |
| Gross operating margin | 9900 | €65,867 | €29,069 | -€36,798 | -55.9% |
| Operating profit (loss) | 9901 | €63,684 | €27,009 | -€36,675 | -57.6% |
| Financial income | 75/76B | €15,581 | €31,995 | +€16,414 | +105% |
| Recurring financial income | 75 | €15,581 | €31,995 | +€16,414 | +105% |
| Financial charges | 65/66B | €222 | €218 | -€4 | -2.0% |
| Recurring financial charges | 65 | €222 | €218 | -€4 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €79,043 | €58,786 | -€20,257 | -25.6% |
| Income taxes | 67/77 | €28,801 | €16,344 | -€12,458 | -43.3% |
| Profit (loss) for the period | 9904 | €50,242 | €42,442 | -€7,800 | -15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €50,242 | €42,442 | -€7,800 | -15.5% |
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 21 October 2026 via checked.be.