VEBEP: 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.
VEBEP
Largest movements
- Financial fixed assets -€393,968
down €393,968 (-18.6%), from €2.1m to €1.7m
- Cash +€204,790
up €204,790 (+1270.6%), from €16,117 to €220,907
mainly Investment in fixed assets (net) (+€393,968)
- Reserves -€100,000
down €100,000 (-36.4%), from €275,000 to €175,000
of which Distributable reserves: -€100,000
- Profit (loss) carried forward -€88,656
down €88,656 (-83.7%), from €105,887 to €17,231
- Financial charges +€326,443
up €326,443 (+1165867.9%), from €28 to €326,471
of which Non-recurring financial charges: +€326,441
- Financial income +€137,377
up €137,377 (+1218.4%), from €11,275 to €148,652
- Gross operating margin -€1,753
down €1,753 (-21.7%), from -€8,085 to -€9,838
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,131,886 | €1,943,230 | -€188,656 | -8.8% |
| Fixed assets | 21/28 | €2,115,769 | €1,721,801 | -€393,968 | -18.6% |
| Financial fixed assets | 28 | €2,115,769 | €1,721,801 | -€393,968 | -18.6% |
| Current assets | 29/58 | €16,117 | €221,429 | +€205,312 | +1273.9% |
| Amounts receivable within one year | 40/41 | - | €522 | +€522 | |
| Other amounts receivable | 41 | - | €522 | +€522 | |
| Cash at bank and in hand | 54/58 | €16,117 | €220,907 | +€204,790 | +1270.6% |
| Total equity and liabilities | 10/49 | €2,131,886 | €1,943,230 | -€188,656 | -8.8% |
| Equity | 10/15 | €2,130,887 | €1,942,231 | -€188,656 | -8.9% |
| Contributions | 10/11 | €1,750,000 | €1,750,000 | = | 0.0% |
| Capital | 10 | €1,750,000 | €1,750,000 | = | 0.0% |
| Issued capital | 100 | €1,750,000 | €1,750,000 | = | 0.0% |
| Reserves | 13 | €275,000 | €175,000 | -€100,000 | -36.4% |
| Non-distributable reserves | 130/1 | €175,000 | €175,000 | = | 0.0% |
| Legal reserve | 130 | €175,000 | €175,000 | = | 0.0% |
| Distributable reserves | 133 | €100,000 | - | -€100,000 | |
| Profit (loss) carried forward | 14 | €105,887 | €17,231 | -€88,656 | -83.7% |
| Amounts payable | 17/49 | €999 | €999 | = | 0.0% |
| Amounts payable within one year | 42/48 | €999 | €999 | = | 0.0% |
| Trade debts | 44 | €999 | €999 | = | 0.0% |
| Suppliers | 440/4 | €999 | €999 | = | 0.0% |
| Other operating charges | 640/8 | €999 | €999 | = | 0.0% |
| Gross operating margin | 9900 | -€8,085 | -€9,838 | -€1,753 | -21.7% |
| Operating profit (loss) | 9901 | -€9,084 | -€10,837 | -€1,753 | -19.3% |
| Financial income | 75/76B | €11,275 | €148,652 | +€137,377 | +1218.4% |
| Recurring financial income | 75 | €11,275 | €148,652 | +€137,377 | +1218.4% |
| Financial charges | 65/66B | €28 | €326,471 | +€326,443 | +1165867.9% |
| Recurring financial charges | 65 | €28 | €30 | +€2 | +7.1% |
| Non-recurring financial charges | 66B | - | €326,441 | +€326,441 | |
| Profit (loss) for the period before taxes | 9903 | €2,163 | -€188,656 | -€190,819 | |
| Profit (loss) for the period | 9904 | €2,163 | -€188,656 | -€190,819 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,163 | -€188,656 | -€190,819 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.