VEA: 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.
VEA
Largest movements
- Cash -€4,086
down €4,086 (-5.9%), from €69,342 to €65,256
mainly Contributions, distributions and other (-€64,195) and Tax, wage and social debts (-€9,887)
- Receivables within one year +€3,261
up €3,261 (+20.8%), from €15,649 to €18,910
of which Other amounts receivable: +€3,283
- Tangible fixed assets -€2,293
down €2,293 (-51.3%), from €4,468 to €2,175
of which Plant, machinery and equipment: -€1,601
- Tax, wage and social debts -€9,887
down €9,887 (-67.6%), from €14,621 to €4,734
of which Taxes: -€10,887
- Other debts +€7,261
up €7,261 (+11.4%), from €63,802 to €71,063
- Taxes -€1,281
down €1,281 (-5.6%), from €22,998 to €21,717
- Depreciation -€972
down €972 (-29.8%), from €3,265 to €2,293
- Gross operating margin -€912
down €912 (-1.0%), from €89,803 to €88,890
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 | €90,092 | €87,768 | -€2,325 | -2.6% |
| Fixed assets | 21/28 | €4,468 | €2,175 | -€2,293 | -51.3% |
| Tangible fixed assets | 22/27 | €4,468 | €2,175 | -€2,293 | -51.3% |
| Land and buildings | 22 | €638 | €552 | -€86 | -13.5% |
| Plant, machinery and equipment | 23 | €2,858 | €1,257 | -€1,601 | -56.0% |
| Furniture and vehicles | 24 | €972 | €366 | -€606 | -62.3% |
| Current assets | 29/58 | €85,625 | €85,593 | -€32 | 0.0% |
| Amounts receivable within one year | 40/41 | €15,649 | €18,910 | +€3,261 | +20.8% |
| Trade receivables | 40 | €15,649 | €15,627 | -€22 | -0.1% |
| Other amounts receivable | 41 | €0 | €3,283 | +€3,283 | |
| Cash at bank and in hand | 54/58 | €69,342 | €65,256 | -€4,086 | -5.9% |
| Deferred charges and accrued income | 490/1 | €633 | €1,426 | +€793 | +125% |
| Total equity and liabilities | 10/49 | €90,092 | €87,768 | -€2,325 | -2.6% |
| Equity | 10/15 | €10,000 | €10,000 | = | 0.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €80,092 | €77,768 | -€2,325 | -2.9% |
| Amounts payable within one year | 42/48 | €80,092 | €77,768 | -€2,325 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €1,408 | €1,499 | +€92 | +6.5% |
| Trade debts | 44 | €262 | €471 | +€209 | +80.0% |
| Suppliers | 440/4 | €262 | €471 | +€209 | +80.0% |
| Taxes, remuneration and social security | 45 | €14,621 | €4,734 | -€9,887 | -67.6% |
| Taxes | 450/3 | €14,621 | €3,734 | -€10,887 | -74.5% |
| Remuneration and social security | 454/9 | €0 | €1,000 | +€1,000 | |
| Other amounts payable | 47/48 | €63,802 | €71,063 | +€7,261 | +11.4% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,265 | €2,293 | -€972 | -29.8% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | €89,803 | €88,890 | -€912 | -1.0% |
| Operating profit (loss) | 9901 | €86,153 | €86,210 | +€57 | +0.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €604 | €298 | -€306 | -50.7% |
| Recurring financial charges | 65 | €604 | €298 | -€306 | -50.7% |
| Profit (loss) for the period before taxes | 9903 | €85,549 | €85,912 | +€363 | +0.4% |
| Income taxes | 67/77 | €22,998 | €21,717 | -€1,281 | -5.6% |
| Profit (loss) for the period | 9904 | €62,551 | €64,195 | +€1,644 | +2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €62,551 | €64,195 | +€1,644 | +2.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.