Veba Trans: 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.
Veba Trans
Largest movements
- Tangible fixed assets +€29,853
up €29,853 (+52.8%), from €56,493 to €86,346
of which Furniture and vehicles: +€32,883
- Receivables within one year +€8,976
up €8,976 (+65.0%), from €13,817 to €22,793
of which Other amounts receivable: +€6,870
- Cash -€8,886
down €8,886 (-7.3%), from €121,868 to €112,982
mainly Investment in fixed assets (net) (-€65,261) and Receivables within one year (-€8,976)
- Current investments +€4,352
up €4,352 (+12.1%), from €35,875 to €40,227
- Reserves +€18,582
up €18,582 (+18.7%), from €99,342 to €117,923
of which Distributable reserves: +€18,582
- Debts after one year +€14,158
up €14,158 (+146.6%), from €9,656 to €23,814
- Gross operating margin +€13,175
up €13,175 (+23.9%), from €55,210 to €68,386
- Depreciation +€6,184
up €6,184 (+21.2%), from €29,224 to €35,408
- Financial income -€1,240
down €1,240 (-38.3%), from €3,240 to €2,000
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 | €256,382 | €289,029 | +€32,647 | +12.7% |
| Fixed assets | 21/28 | €56,493 | €86,346 | +€29,853 | +52.8% |
| Tangible fixed assets | 22/27 | €56,493 | €86,346 | +€29,853 | +52.8% |
| Plant, machinery and equipment | 23 | €11,053 | €8,795 | -€2,257 | -20.4% |
| Furniture and vehicles | 24 | €42,001 | €74,884 | +€32,883 | +78.3% |
| Leasing and similar rights | 25 | €3,439 | €2,667 | -€773 | -22.5% |
| Current assets | 29/58 | €199,889 | €202,683 | +€2,795 | +1.4% |
| Amounts receivable after more than one year | 29 | €21,635 | €21,635 | = | 0.0% |
| Other amounts receivable | 291 | €21,635 | €21,635 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €13,817 | €22,793 | +€8,976 | +65.0% |
| Trade receivables | 40 | €12,424 | €14,530 | +€2,106 | +17.0% |
| Other amounts receivable | 41 | €1,393 | €8,262 | +€6,870 | +493.2% |
| Current investments | 50/53 | €35,875 | €40,227 | +€4,352 | +12.1% |
| Cash at bank and in hand | 54/58 | €121,868 | €112,982 | -€8,886 | -7.3% |
| Deferred charges and accrued income | 490/1 | €6,694 | €5,047 | -€1,647 | -24.6% |
| Total equity and liabilities | 10/49 | €256,382 | €289,029 | +€32,647 | +12.7% |
| Equity | 10/15 | €204,074 | €222,656 | +€18,582 | +9.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €99,342 | €117,923 | +€18,582 | +18.7% |
| Tax-exempt reserves | 132 | €877 | €877 | = | 0.0% |
| Distributable reserves | 133 | €98,465 | €117,047 | +€18,582 | +18.9% |
| Profit (loss) carried forward | 14 | €86,133 | €86,133 | = | 0.0% |
| Amounts payable | 17/49 | €52,308 | €66,373 | +€14,066 | +26.9% |
| Amounts payable after more than one year | 17 | €9,656 | €23,814 | +€14,158 | +146.6% |
| Financial debts | 170/4 | €9,656 | €23,814 | +€14,158 | +146.6% |
| Amounts payable within one year | 42/48 | €42,652 | €42,559 | -€93 | -0.2% |
| Current portion of amounts payable after more than one year | 42 | €24,899 | €24,584 | -€315 | -1.3% |
| Financial debts | 43 | - | €820 | +€820 | |
| Credit institutions | 430/8 | - | €820 | +€820 | |
| Trade debts | 44 | €2,020 | €4,206 | +€2,186 | +108.2% |
| Suppliers | 440/4 | €2,020 | €4,206 | +€2,186 | +108.2% |
| Taxes, remuneration and social security | 45 | €15,733 | €12,949 | -€2,784 | -17.7% |
| Taxes | 450/3 | €15,733 | €12,949 | -€2,784 | -17.7% |
| Non-recurring operating income | 76A | - | €15,500 | +€15,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,224 | €35,408 | +€6,184 | +21.2% |
| Other operating charges | 640/8 | €8,564 | €9,222 | +€658 | +7.7% |
| Gross operating margin | 9900 | €55,210 | €68,386 | +€13,175 | +23.9% |
| Operating profit (loss) | 9901 | €17,422 | €23,755 | +€6,333 | +36.4% |
| Financial income | 75/76B | €3,240 | €2,000 | -€1,240 | -38.3% |
| Recurring financial income | 75 | €3,240 | €2,000 | -€1,240 | -38.3% |
| Financial charges | 65/66B | €925 | €1,417 | +€491 | +53.1% |
| Recurring financial charges | 65 | €925 | €1,417 | +€491 | +53.1% |
| Profit (loss) for the period before taxes | 9903 | €19,737 | €24,338 | +€4,601 | +23.3% |
| Income taxes | 67/77 | €5,663 | €5,757 | +€93 | +1.6% |
| Profit (loss) for the period | 9904 | €14,074 | €18,582 | +€4,508 | +32.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,074 | €18,582 | +€4,508 | +32.0% |
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 9 October 2026 via checked.be.