V.E. CO: 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. CO
Largest movements
- Cash -€11,643
down €11,643 (-64.6%), from €18,033 to €6,389
mainly Contributions, distributions and other (-€26,401) and Investment in fixed assets (net) (-€9,578)
- Receivables within one year +€6,950
up €6,950 (+33.9%), from €20,497 to €27,447
of which Trade receivables: +€6,950
- Tangible fixed assets -€4,821
down €4,821 (-16.7%), from €28,808 to €23,987
of which Leasing and similar rights: -€18,091
- Deferred charges and accrued income -€1,267
no longer reported in 2025 (was €1,267)
- Profit (loss) carried forward -€9,904
no longer reported in 2025 (was €9,904)
- Current portion of long-term debt -€9,434
no longer reported in 2025 (was €9,434)
- Other debts +€4,565
up €4,565 (+17.2%), from €26,532 to €31,096
- Trade debts +€3,204
up €3,204 (+72.6%), from €4,413 to €7,617
- Accrued charges and deferred income +€1,323
new in 2025: €1,323
- Gross operating margin +€10,748
up €10,748 (+38.4%), from €28,021 to €38,770
- Taxes +€3,217
up €3,217 (+108.9%), from €2,954 to €6,171
- Financial charges -€1,665
down €1,665 (-70.8%), from €2,352 to €687
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 | €68,605 | €57,824 | -€10,782 | -15.7% |
| Fixed assets | 21/28 | €28,808 | €23,987 | -€4,821 | -16.7% |
| Tangible fixed assets | 22/27 | €28,808 | €23,987 | -€4,821 | -16.7% |
| Plant, machinery and equipment | 23 | €7,766 | €6,785 | -€981 | -12.6% |
| Furniture and vehicles | 24 | €2,951 | €17,202 | +€14,251 | +482.9% |
| Leasing and similar rights | 25 | €18,091 | - | -€18,091 | |
| Current assets | 29/58 | €39,797 | €33,836 | -€5,961 | -15.0% |
| Amounts receivable within one year | 40/41 | €20,497 | €27,447 | +€6,950 | +33.9% |
| Trade receivables | 40 | €17,451 | €24,400 | +€6,950 | +39.8% |
| Other amounts receivable | 41 | €3,047 | €3,047 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €18,033 | €6,389 | -€11,643 | -64.6% |
| Deferred charges and accrued income | 490/1 | €1,267 | - | -€1,267 | |
| Total equity and liabilities | 10/49 | €68,605 | €57,824 | -€10,782 | -15.7% |
| Equity | 10/15 | €12,904 | €3,000 | -€9,904 | -76.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,904 | - | -€9,904 | |
| Amounts payable | 17/49 | €55,702 | €54,824 | -€878 | -1.6% |
| Amounts payable within one year | 42/48 | €55,702 | €53,501 | -€2,201 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €9,434 | - | -€9,434 | |
| Trade debts | 44 | €4,413 | €7,617 | +€3,204 | +72.6% |
| Suppliers | 440/4 | €4,413 | €7,617 | +€3,204 | +72.6% |
| Taxes, remuneration and social security | 45 | €15,323 | €14,787 | -€535 | -3.5% |
| Taxes | 450/3 | €15,323 | €12,287 | -€3,035 | -19.8% |
| Remuneration and social security | 454/9 | - | €2,500 | +€2,500 | |
| Other amounts payable | 47/48 | €26,532 | €31,096 | +€4,565 | +17.2% |
| Accrued charges and deferred income | 492/3 | - | €1,323 | +€1,323 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,634 | €14,398 | -€236 | -1.6% |
| Other operating charges | 640/8 | €1,183 | €1,016 | -€167 | -14.1% |
| Gross operating margin | 9900 | €28,021 | €38,770 | +€10,748 | +38.4% |
| Operating profit (loss) | 9901 | €12,204 | €23,356 | +€11,151 | +91.4% |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €2,352 | €687 | -€1,665 | -70.8% |
| Recurring financial charges | 65 | €2,352 | €687 | -€1,665 | -70.8% |
| Profit (loss) for the period before taxes | 9903 | €9,857 | €22,668 | +€12,811 | +130.0% |
| Income taxes | 67/77 | €2,954 | €6,171 | +€3,217 | +108.9% |
| Profit (loss) for the period | 9904 | €6,904 | €16,498 | +€9,594 | +139.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,904 | €16,498 | +€9,594 | +139.0% |
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 11 October 2026 via checked.be.