VE & DU SYSTEMS: 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.
VE & DU SYSTEMS
Largest movements
- Cash +€28,788
up €28,788 (+43.5%), from €66,198 to €94,986
mainly Depreciation (+€16,672) and Net result for the year (+€16,543)
- Receivables within one year +€4,620
up €4,620 (+28.0%), from €16,517 to €21,137
of which Other amounts receivable: +€4,620
- Reserves +€16,543
up €16,543 (+7.9%), from €208,808 to €225,351
of which Distributable reserves: +€16,543
- Trade debts +€14,241
up €14,241 (+606%), from €2,350 to €16,591
- Other debts +€8,290
up €8,290 (+23.5%), from €35,242 to €43,532
- Tax, wage and social debts -€5,660
down €5,660 (-62.0%), from €9,124 to €3,464
of which Remuneration and social security: -€9,123
- Gross operating margin +€13,866
up €13,866 (+44.3%), from €31,291 to €45,157
- Taxes +€5,138
up €5,138 (+111%), from €4,625 to €9,762
- Financial charges -€1,371
down €1,371 (-28.7%), from €4,784 to €3,413
- Depreciation -€608
down €608 (-3.5%), from €17,280 to €16,672
- Other operating charges +€462
up €462 (+45.7%), from €1,011 to €1,473
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 | €261,724 | €295,139 | +€33,415 | +12.8% |
| Fixed assets | 21/28 | €126,560 | €126,554 | -€5 | 0.0% |
| Tangible fixed assets | 22/27 | €126,560 | €126,554 | -€5 | 0.0% |
| Land and buildings | 22 | €6,891 | €6,221 | -€670 | -9.7% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €11,842 | €20,957 | +€9,115 | +77.0% |
| Other tangible fixed assets | 26 | €107,826 | €99,376 | -€8,450 | -7.8% |
| Current assets | 29/58 | €135,164 | €168,584 | +€33,420 | +24.7% |
| Amounts receivable within one year | 40/41 | €16,517 | €21,137 | +€4,620 | +28.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €16,517 | €21,137 | +€4,620 | +28.0% |
| Current investments | 50/53 | €49,259 | €49,259 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €66,198 | €94,986 | +€28,788 | +43.5% |
| Deferred charges and accrued income | 490/1 | €3,191 | €3,202 | +€12 | +0.4% |
| Total equity and liabilities | 10/49 | €261,724 | €295,139 | +€33,415 | +12.8% |
| Equity | 10/15 | €215,008 | €231,551 | +€16,543 | +7.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €208,808 | €225,351 | +€16,543 | +7.9% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €190,058 | €206,601 | +€16,543 | +8.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €46,716 | €63,588 | +€16,871 | +36.1% |
| Amounts payable within one year | 42/48 | €46,716 | €63,588 | +€16,871 | +36.1% |
| Trade debts | 44 | €2,350 | €16,591 | +€14,241 | +606% |
| Suppliers | 440/4 | €2,350 | €16,591 | +€14,241 | +606% |
| Taxes, remuneration and social security | 45 | €9,124 | €3,464 | -€5,660 | -62.0% |
| Taxes | 450/3 | €1 | €3,464 | +€3,464 | +567,839% |
| Remuneration and social security | 454/9 | €9,123 | €0 | -€9,123 | -100% |
| Other amounts payable | 47/48 | €35,242 | €43,532 | +€8,290 | +23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,280 | €16,672 | -€608 | -3.5% |
| Other operating charges | 640/8 | €1,011 | €1,473 | +€462 | +45.7% |
| Gross operating margin | 9900 | €31,291 | €45,157 | +€13,866 | +44.3% |
| Operating profit (loss) | 9901 | €12,999 | €27,012 | +€14,013 | +108% |
| Financial income | 75/76B | €2,350 | €2,707 | +€357 | +15.2% |
| Recurring financial income | 75 | €2,350 | €2,707 | +€357 | +15.2% |
| Financial charges | 65/66B | €4,784 | €3,413 | -€1,371 | -28.7% |
| Recurring financial charges | 65 | €4,784 | €3,413 | -€1,371 | -28.7% |
| Profit (loss) for the period before taxes | 9903 | €10,565 | €26,306 | +€15,741 | +149% |
| Income taxes | 67/77 | €4,625 | €9,762 | +€5,138 | +111% |
| Profit (loss) for the period | 9904 | €5,940 | €16,543 | +€10,604 | +179% |
| Profit (loss) for the period to be appropriated | 9905 | €5,940 | €16,543 | +€10,604 | +179% |
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 15 October 2026 via checked.be.