VEBEKHO: 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.
VEBEKHO
Largest movements
- Receivables within one year +€1.4m
up €1.4m (+55.5%), from €2.6m to €4.1m
- Cash -€1.3m
down €1.3m (-98.8%), from €1.3m to €15,965
mainly Receivables within one year (-€1.4m) and Investment in fixed assets (net) (-€143,933)
- Financial fixed assets +€143,933
up €143,933 (+4.4%), from €3.3m to €3.4m
- Profit (loss) carried forward +€224,152
up €224,152 (+3.1%), from €7.1m to €7.3m
- Tax, wage and social debts +€81,368
up €81,368 (+4,663%), from €1,745 to €83,113
No income-statement line moved by more than 1% of the activity.
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 | €7,213,378 | €7,515,899 | +€302,521 | +4.2% |
| Fixed assets | 21/28 | €3,280,637 | €3,424,569 | +€143,933 | +4.4% |
| Financial fixed assets | 28 | €3,280,637 | €3,424,569 | +€143,933 | +4.4% |
| Affiliated companies | 280/1 | €3,280,637 | €3,424,569 | +€143,933 | +4.4% |
| Participating interests | 280 | €553,000 | €553,000 | = | 0.0% |
| Amounts receivable | 281 | €2,727,637 | €2,871,569 | +€143,933 | +5.3% |
| Current assets | 29/58 | €3,932,741 | €4,091,330 | +€158,588 | +4.0% |
| Amounts receivable within one year | 40/41 | €2,606,723 | €4,053,260 | +€1.4m | +55.5% |
| Other amounts receivable | 41 | €2,606,723 | €4,053,260 | +€1.4m | +55.5% |
| Cash at bank and in hand | 54/58 | €1,294,770 | €15,965 | -€1.3m | -98.8% |
| Deferred charges and accrued income | 490/1 | €31,248 | €22,105 | -€9,143 | -29.3% |
| Total equity and liabilities | 10/49 | €7,213,378 | €7,515,899 | +€302,521 | +4.2% |
| Equity | 10/15 | €7,206,833 | €7,430,985 | +€224,152 | +3.1% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,124,333 | €7,348,485 | +€224,152 | +3.1% |
| Amounts payable | 17/49 | €6,545 | €84,913 | +€78,368 | +1,197% |
| Amounts payable within one year | 42/48 | €4,745 | €83,113 | +€78,368 | +1,652% |
| Taxes, remuneration and social security | 45 | €1,745 | €83,113 | +€81,368 | +4,663% |
| Taxes | 450/3 | €1,745 | €83,113 | +€81,368 | +4,663% |
| Other amounts payable | 47/48 | €3,000 | - | -€3,000 | |
| Accrued charges and deferred income | 492/3 | €1,800 | €1,800 | = | 0.0% |
| Operating charges | 60/66A | €56,606 | €4,354 | -€52,252 | -92.3% |
| Services and other goods | 61 | €53,248 | €2,579 | -€50,668 | -95.2% |
| Other operating charges | 640/8 | €3,359 | €1,775 | -€1,584 | -47.2% |
| Operating profit (loss) | 9901 | -€56,606 | -€4,354 | +€52,252 | +92.3% |
| Financial income | 75/76B | €248,481 | €310,182 | +€61,701 | +24.8% |
| Recurring financial income | 75 | €248,481 | €310,182 | +€61,701 | +24.8% |
| Income from financial fixed assets | 750 | €27,637 | €133,933 | +€106,296 | +385% |
| Income from current assets | 751 | €220,844 | €176,250 | -€44,595 | -20.2% |
| Financial charges | 65/66B | €84 | €98 | +€14 | +16.1% |
| Recurring financial charges | 65 | €84 | €98 | +€14 | +16.1% |
| Debt charges | 650 | €84 | - | -€84 | |
| Other financial charges | 652/9 | - | €98 | +€98 | |
| Profit (loss) for the period before taxes | 9903 | €191,790 | €305,730 | +€113,940 | +59.4% |
| Income taxes | 67/77 | €48,092 | €81,578 | +€33,486 | +69.6% |
| Taxes | 670/3 | €48,092 | €81,578 | +€33,486 | +69.6% |
| Profit (loss) for the period | 9904 | €143,698 | €224,152 | +€80,454 | +56.0% |
| Profit (loss) for the period to be appropriated | 9905 | €143,698 | €224,152 | +€80,454 | +56.0% |
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 26 October 2026 via checked.be.