VE.ST: 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.ST
Largest movements
- Current investments +€125,000
up €125,000 (+416.7%), from €30,000 to €155,000
- Cash +€39,031
up €39,031 (+174.5%), from €22,373 to €61,404
mainly Net result for the year (+€122,711) and Tax, wage and social debts (+€58,679)
- Receivables within one year +€7,721
new in 2025: €7,721
- Profit (loss) carried forward +€122,711
up €122,711 (+472.6%), from €25,965 to €148,677
- Tax, wage and social debts +€58,679
up €58,679 (+386.0%), from €15,203 to €73,882
- Other debts -€9,071
down €9,071 (-100.0%), from €9,071 to €0
- Gross operating margin +€124,202
up €124,202 (+350.4%), from €35,446 to €159,648
- Taxes +€28,405
up €28,405 (+385.1%), from €7,377 to €35,782
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 | €52,373 | €224,125 | +€171,752 | +327.9% |
| Current assets | 29/58 | €52,373 | €224,125 | +€171,752 | +327.9% |
| Amounts receivable within one year | 40/41 | - | €7,721 | +€7,721 | |
| Other amounts receivable | 41 | - | €7,721 | +€7,721 | |
| Current investments | 50/53 | €30,000 | €155,000 | +€125,000 | +416.7% |
| Cash at bank and in hand | 54/58 | €22,373 | €61,404 | +€39,031 | +174.5% |
| Total equity and liabilities | 10/49 | €52,373 | €224,125 | +€171,752 | +327.9% |
| Equity | 10/15 | €26,965 | €149,677 | +€122,711 | +455.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,965 | €148,677 | +€122,711 | +472.6% |
| Amounts payable | 17/49 | €25,408 | €74,449 | +€49,041 | +193.0% |
| Amounts payable within one year | 42/48 | €24,718 | €74,449 | +€49,731 | +201.2% |
| Trade debts | 44 | €443 | €566 | +€123 | +27.9% |
| Suppliers | 440/4 | €443 | €566 | +€123 | +27.9% |
| Taxes, remuneration and social security | 45 | €15,203 | €73,882 | +€58,679 | +386.0% |
| Taxes | 450/3 | €15,203 | €73,882 | +€58,679 | +386.0% |
| Other amounts payable | 47/48 | €9,071 | €0 | -€9,071 | -100.0% |
| Accrued charges and deferred income | 492/3 | €690 | €0 | -€690 | -100.0% |
| Other operating charges | 640/8 | €971 | €1,528 | +€557 | +57.3% |
| Gross operating margin | 9900 | €35,446 | €159,648 | +€124,202 | +350.4% |
| Operating profit (loss) | 9901 | €34,475 | €158,120 | +€123,646 | +358.7% |
| Financial income | 75/76B | - | €431 | +€431 | |
| Recurring financial income | 75 | - | €431 | +€431 | |
| Financial charges | 65/66B | €1,132 | €58 | -€1,074 | -94.9% |
| Recurring financial charges | 65 | €1,132 | €58 | -€1,074 | -94.9% |
| Profit (loss) for the period before taxes | 9903 | €33,342 | €158,493 | +€125,151 | +375.4% |
| Income taxes | 67/77 | €7,377 | €35,782 | +€28,405 | +385.1% |
| Profit (loss) for the period | 9904 | €25,965 | €122,711 | +€96,746 | +372.6% |
| Profit (loss) for the period to be appropriated | 9905 | €25,965 | €122,711 | +€96,746 | +372.6% |
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 2 October 2026 via checked.be.