VEBRA: 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.
VEBRA
Largest movements
- Cash +€24,544
up €24,544 (+58.5%), from €41,942 to €66,486
mainly Net result for the year (+€125,193) and Other debts (+€92,045)
- Receivables within one year +€24,214
up €24,214 (+19.0%), from €127,370 to €151,584
of which Other amounts receivable: +€12,114
- Tangible fixed assets +€18,518
up €18,518 (+852.3%), from €2,173 to €20,690
of which Other tangible fixed assets: +€17,349
- Other debts +€92,045
up €92,045 (+26398.1%), from €349 to €92,393
- Debts after one year -€41,923
down €41,923 (-73.6%), from €56,923 to €15,000
- Current portion of long-term debt +€39,637
up €39,637 (+229.3%), from €17,286 to €56,923
- Reserves -€25,195
down €25,195 (-14.2%), from €177,018 to €151,823
- Gross operating margin +€6,899
up €6,899 (+19.5%), from €35,353 to €42,252
- Financial income +€4,852
up €4,852 (+5.1%), from €95,241 to €100,093
- Taxes +€1,999
up €1,999 (+17.4%), from €11,505 to €13,504
- Financial charges +€675
up €675 (+66.5%), from €1,014 to €1,688
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 | €312,602 | €380,060 | +€67,459 | +21.6% |
| Fixed assets | 21/28 | €141,373 | €159,890 | +€18,518 | +13.1% |
| Tangible fixed assets | 22/27 | €2,173 | €20,690 | +€18,518 | +852.3% |
| Plant, machinery and equipment | 23 | €600 | €298 | -€302 | -50.3% |
| Furniture and vehicles | 24 | €0 | €1,471 | +€1,471 | |
| Other tangible fixed assets | 26 | €1,573 | €18,922 | +€17,349 | +1102.9% |
| Financial fixed assets | 28 | €139,200 | €139,200 | = | 0.0% |
| Current assets | 29/58 | €171,229 | €220,170 | +€48,941 | +28.6% |
| Amounts receivable within one year | 40/41 | €127,370 | €151,584 | +€24,214 | +19.0% |
| Trade receivables | 40 | - | €12,100 | +€12,100 | |
| Other amounts receivable | 41 | €127,370 | €139,484 | +€12,114 | +9.5% |
| Cash at bank and in hand | 54/58 | €41,942 | €66,486 | +€24,544 | +58.5% |
| Deferred charges and accrued income | 490/1 | €1,917 | €2,100 | +€183 | +9.5% |
| Total equity and liabilities | 10/49 | €312,602 | €380,060 | +€67,459 | +21.6% |
| Equity | 10/15 | €195,618 | €170,423 | -€25,195 | -12.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €177,018 | €151,823 | -€25,195 | -14.2% |
| Distributable reserves | 133 | €177,018 | €151,823 | -€25,195 | -14.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €116,984 | €209,638 | +€92,653 | +79.2% |
| Amounts payable after more than one year | 17 | €56,923 | €15,000 | -€41,923 | -73.6% |
| Financial debts | 170/4 | €56,923 | €15,000 | -€41,923 | -73.6% |
| Amounts payable within one year | 42/48 | €60,061 | €194,298 | +€134,237 | +223.5% |
| Current portion of amounts payable after more than one year | 42 | €17,286 | €56,923 | +€39,637 | +229.3% |
| Financial debts | 43 | €7,110 | €7,123 | +€13 | +0.2% |
| Credit institutions | 430/8 | €7,110 | €7,123 | +€13 | +0.2% |
| Trade debts | 44 | €1,161 | €1,877 | +€717 | +61.7% |
| Suppliers | 440/4 | €1,161 | €1,877 | +€717 | +61.7% |
| Taxes, remuneration and social security | 45 | €34,156 | €35,982 | +€1,826 | +5.3% |
| Taxes | 450/3 | €34,156 | €35,982 | +€1,826 | +5.3% |
| Other amounts payable | 47/48 | €349 | €92,393 | +€92,045 | +26398.1% |
| Accrued charges and deferred income | 492/3 | - | €339 | +€339 | |
| Non-recurring operating income | 76A | €10,390 | €0 | -€10,390 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €302 | €470 | +€169 | +55.9% |
| Other operating charges | 640/8 | €1,127 | €1,490 | +€362 | +32.1% |
| Gross operating margin | 9900 | €35,353 | €42,252 | +€6,899 | +19.5% |
| Operating profit (loss) | 9901 | €33,924 | €40,293 | +€6,368 | +18.8% |
| Financial income | 75/76B | €95,241 | €100,093 | +€4,852 | +5.1% |
| Recurring financial income | 75 | €95,241 | €100,093 | +€4,852 | +5.1% |
| Financial charges | 65/66B | €1,014 | €1,688 | +€675 | +66.5% |
| Recurring financial charges | 65 | €1,014 | €1,688 | +€675 | +66.5% |
| Profit (loss) for the period before taxes | 9903 | €128,152 | €138,697 | +€10,545 | +8.2% |
| Income taxes | 67/77 | €11,505 | €13,504 | +€1,999 | +17.4% |
| Profit (loss) for the period | 9904 | €116,647 | €125,193 | +€8,547 | +7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €116,647 | €125,193 | +€8,547 | +7.3% |
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 3 October 2026 via checked.be.