Vebeka: 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.
Vebeka
Largest movements
- Current investments -€80,052
down €80,052 (-66.7%), from €120,095 to €40,043
- Deferred charges and accrued income -€11,530
down €11,530 (-21.7%), from €53,214 to €41,684
- Cash +€11,500
up €11,500 (+60.0%), from €19,180 to €30,680
mainly Current investments (+€80,052) and Net result for the year (+€14,067)
- Tangible fixed assets -€6,152
down €6,152 (-35.5%), from €17,334 to €11,182
- Other debts -€83,357
down €83,357 (-94.5%), from €88,229 to €4,872
- Tax, wage and social debts -€18,698
down €18,698 (-50.0%), from €37,383 to €18,685
of which Taxes: -€21,148
- Reserves +€14,000
up €14,000 (+16.2%), from €86,228 to €100,228
of which Distributable reserves: +€14,000
- Gross operating margin -€23,728
down €23,728 (-48.7%), from €48,735 to €25,007
- Taxes -€4,797
down €4,797 (-53.6%), from €8,941 to €4,144
- Financial income -€638
down €638 (-93.4%), from €683 to €45
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 | €227,467 | €139,479 | -€87,988 | -38.7% |
| Fixed assets | 21/28 | €17,334 | €11,182 | -€6,152 | -35.5% |
| Tangible fixed assets | 22/27 | €17,334 | €11,182 | -€6,152 | -35.5% |
| Furniture and vehicles | 24 | €17,334 | €11,182 | -€6,152 | -35.5% |
| Current assets | 29/58 | €210,133 | €128,296 | -€81,836 | -38.9% |
| Stocks and contracts in progress | 3 | €2,204 | €2,692 | +€488 | +22.2% |
| Stocks | 30/36 | €2,204 | €2,692 | +€488 | +22.2% |
| Amounts receivable within one year | 40/41 | €15,440 | €13,197 | -€2,243 | -14.5% |
| Trade receivables | 40 | €15,440 | €11,891 | -€3,549 | -23.0% |
| Other amounts receivable | 41 | €0 | €1,306 | +€1,306 | |
| Current investments | 50/53 | €120,095 | €40,043 | -€80,052 | -66.7% |
| Cash at bank and in hand | 54/58 | €19,180 | €30,680 | +€11,500 | +60.0% |
| Deferred charges and accrued income | 490/1 | €53,214 | €41,684 | -€11,530 | -21.7% |
| Total equity and liabilities | 10/49 | €227,467 | €139,479 | -€87,988 | -38.7% |
| Equity | 10/15 | €101,855 | €115,922 | +€14,067 | +13.8% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €86,228 | €100,228 | +€14,000 | +16.2% |
| Non-distributable reserves | 130/1 | €1,500 | €1,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,500 | €1,500 | = | 0.0% |
| Distributable reserves | 133 | €84,728 | €98,728 | +€14,000 | +16.5% |
| Profit (loss) carried forward | 14 | €627 | €694 | +€67 | +10.7% |
| Amounts payable | 17/49 | €125,612 | €23,557 | -€102,055 | -81.2% |
| Amounts payable within one year | 42/48 | €125,612 | €23,557 | -€102,055 | -81.2% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €37,383 | €18,685 | -€18,698 | -50.0% |
| Taxes | 450/3 | €37,383 | €16,235 | -€21,148 | -56.6% |
| Remuneration and social security | 454/9 | €0 | €2,450 | +€2,450 | |
| Other amounts payable | 47/48 | €88,229 | €4,872 | -€83,357 | -94.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,152 | €6,152 | = | 0.0% |
| Other operating charges | 640/8 | €592 | €603 | +€11 | +1.9% |
| Gross operating margin | 9900 | €48,735 | €25,007 | -€23,728 | -48.7% |
| Operating profit (loss) | 9901 | €41,991 | €18,252 | -€23,739 | -56.5% |
| Financial income | 75/76B | €683 | €45 | -€638 | -93.4% |
| Recurring financial income | 75 | €683 | €45 | -€638 | -93.4% |
| Financial charges | 65/66B | €107 | €86 | -€21 | -19.3% |
| Recurring financial charges | 65 | €107 | €86 | -€21 | -19.3% |
| Profit (loss) for the period before taxes | 9903 | €42,568 | €18,211 | -€24,356 | -57.2% |
| Income taxes | 67/77 | €8,941 | €4,144 | -€4,797 | -53.6% |
| Profit (loss) for the period | 9904 | €33,627 | €14,067 | -€19,560 | -58.2% |
| Profit (loss) for the period to be appropriated | 9905 | €33,627 | €14,067 | -€19,560 | -58.2% |
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 8 October 2026 via checked.be.