V.E. BEHEER: 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.
V.E. BEHEER
Largest movements
- Receivables within one year -€30,731
down €30,731 (-32.4%), from €94,795 to €64,064
- Tangible fixed assets -€14,366
down €14,366 (-26.6%), from €54,093 to €39,727
- Cash -€14,157
down €14,157 (-11.2%), from €126,459 to €112,302
mainly Contributions, distributions and other (-€63,000) and Debts after one year (-€27,112)
- Debts after one year -€27,112
down €27,112 (-15.3%), from €176,816 to €149,704
- Tax, wage and social debts -€20,222
down €20,222 (-66.4%), from €30,470 to €10,248
of which Taxes: -€20,258
- Reserves -€12,171
down €12,171 (-1.6%), from €778,118 to €765,947
of which Distributable reserves: -€12,171
- Gross operating margin -€2,060
down €2,060 (-2.3%), from €90,830 to €88,770
- Taxes -€1,789
down €1,789 (-7.8%), from €22,882 to €21,093
- Depreciation +€957
up €957 (+7.1%), from €13,409 to €14,366
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.
Cash bridge derived
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 | €1,021,069 | €962,091 | -€58,978 | -5.8% |
| Fixed assets | 21/28 | €797,619 | €783,253 | -€14,366 | -1.8% |
| Tangible fixed assets | 22/27 | €54,093 | €39,727 | -€14,366 | -26.6% |
| Furniture and vehicles | 24 | €54,093 | €39,727 | -€14,366 | -26.6% |
| Financial fixed assets | 28 | €743,526 | €743,526 | = | 0.0% |
| Current assets | 29/58 | €223,450 | €178,838 | -€44,612 | -20.0% |
| Amounts receivable within one year | 40/41 | €94,795 | €64,064 | -€30,731 | -32.4% |
| Other amounts receivable | 41 | €94,795 | €64,064 | -€30,731 | -32.4% |
| Cash at bank and in hand | 54/58 | €126,459 | €112,302 | -€14,157 | -11.2% |
| Deferred charges and accrued income | 490/1 | €2,196 | €2,471 | +€275 | +12.5% |
| Total equity and liabilities | 10/49 | €1,021,069 | €962,091 | -€58,978 | -5.8% |
| Equity | 10/15 | €784,318 | €772,147 | -€12,171 | -1.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €778,118 | €765,947 | -€12,171 | -1.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €776,258 | €764,087 | -€12,171 | -1.6% |
| Amounts payable | 17/49 | €236,751 | €189,944 | -€46,808 | -19.8% |
| Amounts payable after more than one year | 17 | €176,816 | €149,704 | -€27,112 | -15.3% |
| Other amounts payable | 178/9 | €176,816 | €149,704 | -€27,112 | -15.3% |
| Amounts payable within one year | 42/48 | €59,936 | €40,240 | -€19,695 | -32.9% |
| Current portion of amounts payable after more than one year | 42 | €26,806 | €27,112 | +€306 | +1.1% |
| Trade debts | 44 | €2,660 | €2,880 | +€220 | +8.3% |
| Suppliers | 440/4 | €2,660 | €2,880 | +€220 | +8.3% |
| Taxes, remuneration and social security | 45 | €30,470 | €10,248 | -€20,222 | -66.4% |
| Taxes | 450/3 | €22,715 | €2,457 | -€20,258 | -89.2% |
| Remuneration and social security | 454/9 | €7,755 | €7,791 | +€36 | +0.5% |
| Non-recurring operating income | 76A | €13,900 | - | -€13,900 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,409 | €14,366 | +€957 | +7.1% |
| Other operating charges | 640/8 | €1,333 | €1,095 | -€238 | -17.8% |
| Gross operating margin | 9900 | €90,830 | €88,770 | -€2,060 | -2.3% |
| Operating profit (loss) | 9901 | €76,088 | €73,308 | -€2,780 | -3.7% |
| Financial charges | 65/66B | €1,400 | €1,386 | -€14 | -1.0% |
| Recurring financial charges | 65 | €1,400 | €1,386 | -€14 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €74,688 | €71,922 | -€2,766 | -3.7% |
| Income taxes | 67/77 | €22,882 | €21,093 | -€1,789 | -7.8% |
| Profit (loss) for the period | 9904 | €51,806 | €50,829 | -€976 | -1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €51,806 | €50,829 | -€976 | -1.9% |
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 9 October 2026 via checked.be.