VE - CO: what changed
Two fiscal 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.
VE - CO
Largest movements
- Cash +€14,167
up €14,167 (+444.9%), from €3,184 to €17,351
mainly Trade debts (+€18,359) and Current investments (+€5,578)
- Current investments -€5,578
down €5,578 (-94.5%), from €5,901 to €323
- Receivables within one year -€5,505
down €5,505 (-4.0%), from €136,079 to €130,574
of which Trade receivables: -€5,505
- Tangible fixed assets -€2,239
down €2,239 (-46.2%), from €4,851 to €2,612
of which Furniture and vehicles: -€2,239
- Other debts -€21,236
down €21,236 (-58.2%), from €36,518 to €15,282
- Trade debts +€18,359
up €18,359 (+216.8%), from €8,470 to €26,829
- Tax, wage and social debts +€2,276
new in 2025: €2,276
- Gross operating margin +€18,969
up €18,969, from -€12,278 to €6,691
- Financial charges +€1,536
up €1,536 (+203.1%), from €756 to €2,292
- Other operating charges +€556
up €556 (+41.3%), from €1,347 to €1,902
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 | €151,667 | €151,323 | -€344 | -0.2% |
| Fixed assets | 21/28 | €4,851 | €2,612 | -€2,239 | -46.2% |
| Tangible fixed assets | 22/27 | €4,851 | €2,612 | -€2,239 | -46.2% |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €4,851 | €2,612 | -€2,239 | -46.2% |
| Current assets | 29/58 | €146,816 | €148,711 | +€1,896 | +1.3% |
| Amounts receivable within one year | 40/41 | €136,079 | €130,574 | -€5,505 | -4.0% |
| Trade receivables | 40 | €136,079 | €130,574 | -€5,505 | -4.0% |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Current investments | 50/53 | €5,901 | €323 | -€5,578 | -94.5% |
| Cash at bank and in hand | 54/58 | €3,184 | €17,351 | +€14,167 | +444.9% |
| Deferred charges and accrued income | 490/1 | €1,652 | €463 | -€1,189 | -72.0% |
| Total equity and liabilities | 10/49 | €151,667 | €151,323 | -€344 | -0.2% |
| Equity | 10/15 | €78,533 | €78,790 | +€257 | +0.3% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €225,733 | €225,733 | = | 0.0% |
| Tax-exempt reserves | 132 | €30,733 | €30,733 | = | 0.0% |
| Distributable reserves | 133 | €195,000 | €195,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€169,200 | -€168,943 | +€257 | +0.2% |
| Amounts payable | 17/49 | €73,134 | €72,533 | -€601 | -0.8% |
| Amounts payable within one year | 42/48 | €73,134 | €72,533 | -€601 | -0.8% |
| Trade debts | 44 | €8,470 | €26,829 | +€18,359 | +216.8% |
| Suppliers | 440/4 | €8,470 | €26,829 | +€18,359 | +216.8% |
| Advances received on contracts in progress | 46 | €28,146 | €28,146 | = | 0.0% |
| Taxes, remuneration and social security | 45 | - | €2,276 | +€2,276 | |
| Taxes | 450/3 | - | €2,276 | +€2,276 | |
| Other amounts payable | 47/48 | €36,518 | €15,282 | -€21,236 | -58.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,239 | €2,239 | = | 0.0% |
| Other operating charges | 640/8 | €1,347 | €1,902 | +€556 | +41.3% |
| Gross operating margin | 9900 | -€12,278 | €6,691 | +€18,969 | |
| Operating profit (loss) | 9901 | -€15,864 | €2,550 | +€18,413 | |
| Financial charges | 65/66B | €756 | €2,292 | +€1,536 | +203.1% |
| Recurring financial charges | 65 | €756 | €2,292 | +€1,536 | +203.1% |
| Profit (loss) for the period before taxes | 9903 | -€16,620 | €257 | +€16,877 | |
| Profit (loss) for the period | 9904 | -€16,620 | €257 | +€16,877 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,620 | €257 | +€16,877 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.