"VE HOLDING": 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 HOLDING"
Largest movements
- Receivables within one year -€33,789
no longer reported in 2025 (was €33,789)
- Other debts -€84,537
down €84,537 (-40.6%), from €208,400 to €123,863
- Reserves +€51,330
up €51,330 (+15.7%), from €326,349 to €377,679
of which Distributable reserves: +€53,190
- Financial income -€50,000
no longer reported in 2025 (was €50,000)
- Gross operating margin +€676
up €676 (+38.4%), from -€1,759 to -€1,083
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €540,949 | €507,809 | -€33,140 | -6.1% |
| Fixed assets | 21/28 | €507,000 | €507,000 | = | 0.0% |
| Financial fixed assets | 28 | €507,000 | €507,000 | = | 0.0% |
| Current assets | 29/58 | €33,949 | €809 | -€33,140 | -97.6% |
| Amounts receivable within one year | 40/41 | €33,789 | - | -€33,789 | |
| Other amounts receivable | 41 | €33,789 | - | -€33,789 | |
| Cash at bank and in hand | 54/58 | €160 | €809 | +€648 | +404% |
| Total equity and liabilities | 10/49 | €540,949 | €507,809 | -€33,140 | -6.1% |
| Equity | 10/15 | €332,549 | €383,879 | +€51,330 | +15.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €326,349 | €377,679 | +€51,330 | +15.7% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €324,489 | €377,679 | +€53,190 | +16.4% |
| Amounts payable | 17/49 | €208,400 | €123,930 | -€84,470 | -40.5% |
| Amounts payable within one year | 42/48 | €208,400 | €123,930 | -€84,470 | -40.5% |
| Trade debts | 44 | - | €67 | +€67 | |
| Suppliers | 440/4 | - | €67 | +€67 | |
| Other amounts payable | 47/48 | €208,400 | €123,863 | -€84,537 | -40.6% |
| Gross operating margin | 9900 | -€1,759 | -€1,083 | +€676 | +38.4% |
| Operating profit (loss) | 9901 | -€1,759 | -€1,083 | +€676 | +38.4% |
| Financial income | 75/76B | €50,000 | - | -€50,000 | |
| Recurring financial income | 75 | €50,000 | - | -€50,000 | |
| Financial charges | 65/66B | €42 | €47 | +€5 | +10.7% |
| Recurring financial charges | 65 | €42 | €47 | +€5 | +10.7% |
| Profit (loss) for the period before taxes | 9903 | €48,199 | -€1,130 | -€49,328 | |
| Profit (loss) for the period | 9904 | €48,199 | -€1,130 | -€49,328 | |
| Profit (loss) for the period to be appropriated | 9905 | €48,199 | -€1,130 | -€49,328 |
Source: filed annual accounts (NBB), financial years ended 31 March 2023 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.