VEBALY: what changed
VEBALY
Largest movements
- Cash +€18,692
up €18,692 (+126%), from €14,886 to €33,577
mainly Receivables within one year (+€18,363) and Net result for the year (+€4,776)
- Receivables within one year -€18,363
down €18,363 (-22.1%), from €83,197 to €64,833
of which Trade receivables: -€20,718
- Reserves +€4,776
up €4,776 (+6.4%), from €74,609 to €79,386
- Tax, wage and social debts -€1,860
down €1,860 (-16.9%), from €11,007 to €9,147
- Current portion of long-term debt -€1,369
down €1,369 (-100%), from €1,369 to €0
- Gross operating margin -€11,868
down €11,868 (-51.3%), from €23,141 to €11,273
- Depreciation -€6,935
down €6,935 (-91.7%), from €7,561 to €626
- Taxes -€1,565
down €1,565 (-29.8%), from €5,245 to €3,681
- Other operating charges -€971
down €971 (-31.4%), from €3,091 to €2,121
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €101,328 | €102,237 | +€909 | +0.9% |
| Fixed assets | 21/28 | €1,572 | €2,118 | +€546 | +34.8% |
| Tangible fixed assets | 22/27 | €1,572 | €2,118 | +€546 | +34.8% |
| Land and buildings | 22 | €1,572 | €1,000 | -€572 | -36.4% |
| Plant, machinery and equipment | 23 | - | €1,118 | +€1,118 | |
| Leasing and similar rights | 25 | €0 | - | = | |
| Current assets | 29/58 | €99,756 | €100,119 | +€363 | +0.4% |
| Amounts receivable within one year | 40/41 | €83,197 | €64,833 | -€18,363 | -22.1% |
| Trade receivables | 40 | €51,750 | €31,032 | -€20,718 | -40.0% |
| Other amounts receivable | 41 | €31,447 | €33,801 | +€2,355 | +7.5% |
| Cash at bank and in hand | 54/58 | €14,886 | €33,577 | +€18,692 | +126% |
| Deferred charges and accrued income | 490/1 | €1,674 | €1,708 | +€34 | +2.0% |
| Total equity and liabilities | 10/49 | €101,328 | €102,237 | +€909 | +0.9% |
| Equity | 10/15 | €80,942 | €85,719 | +€4,776 | +5.9% |
| Contributions | 10/11 | €6,333 | €6,333 | = | 0.0% |
| Reserves | 13 | €74,609 | €79,386 | +€4,776 | +6.4% |
| Distributable reserves | 133 | €74,609 | €79,386 | +€4,776 | +6.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €20,385 | €16,518 | -€3,867 | -19.0% |
| Amounts payable within one year | 42/48 | €20,385 | €16,518 | -€3,867 | -19.0% |
| Current portion of amounts payable after more than one year | 42 | €1,369 | €0 | -€1,369 | -100% |
| Trade debts | 44 | €8,009 | €7,371 | -€639 | -8.0% |
| Suppliers | 440/4 | €8,009 | €7,371 | -€639 | -8.0% |
| Taxes, remuneration and social security | 45 | €11,007 | €9,147 | -€1,860 | -16.9% |
| Taxes | 450/3 | €11,007 | €9,147 | -€1,860 | -16.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,561 | €626 | -€6,935 | -91.7% |
| Other operating charges | 640/8 | €3,091 | €2,121 | -€971 | -31.4% |
| Gross operating margin | 9900 | €23,141 | €11,273 | -€11,868 | -51.3% |
| Operating profit (loss) | 9901 | €12,488 | €8,526 | -€3,962 | -31.7% |
| Financial charges | 65/66B | €108 | €69 | -€39 | -35.9% |
| Recurring financial charges | 65 | €108 | €69 | -€39 | -35.9% |
| Profit (loss) for the period before taxes | 9903 | €12,381 | €8,457 | -€3,924 | -31.7% |
| Income taxes | 67/77 | €5,245 | €3,681 | -€1,565 | -29.8% |
| Profit (loss) for the period | 9904 | €7,135 | €4,776 | -€2,359 | -33.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,135 | €4,776 | -€2,359 | -33.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.