V-VET: 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-VET
Largest movements
- Cash +€26,535
up €26,535 (+133%), from €19,935 to €46,469
mainly Net result for the year (+€35,697) and Trade debts (+€22,529)
- Receivables within one year +€14,462
up €14,462 (+40.7%), from €35,568 to €50,030
of which Trade receivables: +€16,337
- Reserves +€29,673
up €29,673 (+198%), from €14,986 to €44,659
- Trade debts +€22,529
up €22,529 (+364%), from €6,190 to €28,719
- Other debts -€21,606
down €21,606 (-87.1%), from €24,797 to €3,192
- Debts after one year -€14,968
down €14,968 (-7.9%), from €190,645 to €175,677
- Advances received +€14,103
up €14,103 (+291%), from €4,840 to €18,943
- Gross operating margin +€33,883
up €33,883 (+91.2%), from €37,134 to €71,017
- Taxes +€10,050
up €10,050 (+1,412%), from €712 to €10,762
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 | €274,700 | €316,747 | +€42,047 | +15.3% |
| Fixed assets | 21/28 | €211,921 | €213,639 | +€1,717 | +0.8% |
| Tangible fixed assets | 22/27 | €208,883 | €210,601 | +€1,717 | +0.8% |
| Land and buildings | 22 | €205,066 | €187,818 | -€17,247 | -8.4% |
| Plant, machinery and equipment | 23 | €3,817 | €1,207 | -€2,611 | -68.4% |
| Furniture and vehicles | 24 | - | €21,576 | +€21,576 | |
| Financial fixed assets | 28 | €3,038 | €3,038 | = | 0.0% |
| Current assets | 29/58 | €62,779 | €103,109 | +€40,329 | +64.2% |
| Stocks and contracts in progress | 3 | €1,851 | €4,251 | +€2,400 | +130% |
| Stocks | 30/36 | €1,851 | €4,251 | +€2,400 | +130% |
| Amounts receivable within one year | 40/41 | €35,568 | €50,030 | +€14,462 | +40.7% |
| Trade receivables | 40 | €31,822 | €48,159 | +€16,337 | +51.3% |
| Other amounts receivable | 41 | €3,745 | €1,870 | -€1,875 | -50.1% |
| Cash at bank and in hand | 54/58 | €19,935 | €46,469 | +€26,535 | +133% |
| Deferred charges and accrued income | 490/1 | €5,426 | €2,359 | -€3,067 | -56.5% |
| Total equity and liabilities | 10/49 | €274,700 | €316,747 | +€42,047 | +15.3% |
| Equity | 10/15 | €24,462 | €60,159 | +€35,697 | +146% |
| Contributions | 10/11 | €15,500 | €15,500 | = | 0.0% |
| Reserves | 13 | €14,986 | €44,659 | +€29,673 | +198% |
| Distributable reserves | 133 | €14,986 | €44,659 | +€29,673 | +198% |
| Profit (loss) carried forward | 14 | -€6,024 | - | +€6,024 | |
| Amounts payable | 17/49 | €250,238 | €256,588 | +€6,350 | +2.5% |
| Amounts payable after more than one year | 17 | €190,645 | €175,677 | -€14,968 | -7.9% |
| Financial debts | 170/4 | €190,645 | €175,677 | -€14,968 | -7.9% |
| Amounts payable within one year | 42/48 | €59,593 | €80,910 | +€21,318 | +35.8% |
| Current portion of amounts payable after more than one year | 42 | €14,580 | €14,968 | +€388 | +2.7% |
| Trade debts | 44 | €6,190 | €28,719 | +€22,529 | +364% |
| Suppliers | 440/4 | €6,190 | €28,719 | +€22,529 | +364% |
| Advances received on contracts in progress | 46 | €4,840 | €18,943 | +€14,103 | +291% |
| Taxes, remuneration and social security | 45 | €9,186 | €15,089 | +€5,903 | +64.3% |
| Taxes | 450/3 | €9,186 | €15,089 | +€5,903 | +64.3% |
| Other amounts payable | 47/48 | €24,797 | €3,192 | -€21,606 | -87.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,711 | €18,213 | -€498 | -2.7% |
| Other operating charges | 640/8 | €1,185 | €1,313 | +€128 | +10.8% |
| Gross operating margin | 9900 | €37,134 | €71,017 | +€33,883 | +91.2% |
| Operating profit (loss) | 9901 | €17,238 | €51,490 | +€34,253 | +199% |
| Financial income | 75/76B | €0 | €580 | +€580 | +5,802,700% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Non-recurring financial income | 76B | - | €580 | +€580 | |
| Financial charges | 65/66B | €5,952 | €5,612 | -€340 | -5.7% |
| Recurring financial charges | 65 | €5,952 | €5,612 | -€340 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €11,286 | €46,459 | +€35,173 | +312% |
| Income taxes | 67/77 | €712 | €10,762 | +€10,050 | +1,412% |
| Profit (loss) for the period | 9904 | €10,574 | €35,697 | +€25,123 | +238% |
| Profit (loss) for the period to be appropriated | 9905 | €10,574 | €35,697 | +€25,123 | +238% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.