VEAN: 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.
VEAN
Largest movements
- Receivables within one year +€59,083
up €59,083 (+250%), from €23,659 to €82,742
of which Other amounts receivable: +€56,630
- Cash -€14,906
down €14,906 (-43.4%), from €34,314 to €19,408
mainly Receivables within one year (-€59,083) and Debts after one year (-€4,128)
- Reserves +€40,479
up €40,479 (+73.8%), from €54,818 to €95,297
- Tax, wage and social debts +€6,285
up €6,285 (+262%), from €2,396 to €8,681
- Debts after one year -€4,128
down €4,128 (-53.9%), from €7,656 to €3,528
- Trade debts +€1,203
up €1,203 (+33.0%), from €3,649 to €4,853
- Gross operating margin +€23,217
up €23,217 (+65.2%), from €35,626 to €58,843
- Taxes +€6,948
up €6,948 (+66.0%), from €10,523 to €17,471
- Financial income +€1,552
up €1,552 (+489%), from €317 to €1,869
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 | €75,535 | €119,487 | +€43,951 | +58.2% |
| Fixed assets | 21/28 | €16,233 | €15,497 | -€736 | -4.5% |
| Tangible fixed assets | 22/27 | €1,233 | €497 | -€736 | -59.7% |
| Furniture and vehicles | 24 | €1,233 | €497 | -€736 | -59.7% |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €59,302 | €103,989 | +€44,687 | +75.4% |
| Amounts receivable within one year | 40/41 | €23,659 | €82,742 | +€59,083 | +250% |
| Trade receivables | 40 | €13,741 | €16,194 | +€2,453 | +17.9% |
| Other amounts receivable | 41 | €9,918 | €66,548 | +€56,630 | +571% |
| Cash at bank and in hand | 54/58 | €34,314 | €19,408 | -€14,906 | -43.4% |
| Deferred charges and accrued income | 490/1 | €1,330 | €1,840 | +€510 | +38.4% |
| Total equity and liabilities | 10/49 | €75,535 | €119,487 | +€43,951 | +58.2% |
| Equity | 10/15 | €57,818 | €98,297 | +€40,479 | +70.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €54,818 | €95,297 | +€40,479 | +73.8% |
| Distributable reserves | 133 | €54,818 | €95,297 | +€40,479 | +73.8% |
| Amounts payable | 17/49 | €17,718 | €21,190 | +€3,472 | +19.6% |
| Amounts payable after more than one year | 17 | €7,656 | €3,528 | -€4,128 | -53.9% |
| Financial debts | 170/4 | €7,656 | €3,528 | -€4,128 | -53.9% |
| Amounts payable within one year | 42/48 | €10,062 | €17,662 | +€7,600 | +75.5% |
| Current portion of amounts payable after more than one year | 42 | €4,016 | €4,128 | +€112 | +2.8% |
| Trade debts | 44 | €3,649 | €4,853 | +€1,203 | +33.0% |
| Suppliers | 440/4 | €3,649 | €4,853 | +€1,203 | +33.0% |
| Taxes, remuneration and social security | 45 | €2,396 | €8,681 | +€6,285 | +262% |
| Taxes | 450/3 | €2,396 | €8,681 | +€6,285 | +262% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €736 | €736 | = | 0.0% |
| Other operating charges | 640/8 | €450 | €232 | -€218 | -48.5% |
| Gross operating margin | 9900 | €35,626 | €58,843 | +€23,217 | +65.2% |
| Operating profit (loss) | 9901 | €34,440 | €57,875 | +€23,435 | +68.0% |
| Financial income | 75/76B | €317 | €1,869 | +€1,552 | +489% |
| Recurring financial income | 75 | €317 | €1,869 | +€1,552 | +489% |
| Financial charges | 65/66B | €2,255 | €1,795 | -€461 | -20.4% |
| Recurring financial charges | 65 | €2,255 | €1,795 | -€461 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | €32,502 | €57,950 | +€25,448 | +78.3% |
| Income taxes | 67/77 | €10,523 | €17,471 | +€6,948 | +66.0% |
| Profit (loss) for the period | 9904 | €21,979 | €40,479 | +€18,500 | +84.2% |
| Profit (loss) for the period to be appropriated | 9905 | €21,979 | €40,479 | +€18,500 | +84.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.