VEBRAK: 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.
VEBRAK
Largest movements
- Receivables within one year -€31,489
down €31,489 (-24.5%), from €128,679 to €97,190
of which Trade receivables: -€31,489
- Cash +€30,295
up €30,295 (+26.2%), from €115,556 to €145,852
mainly Receivables within one year (+€31,489) and Net result for the year (+€6,329)
- Stocks and contracts -€4,763
down €4,763 (-4.1%), from €116,225 to €111,462
- Trade debts -€11,813
down €11,813 (-51.3%), from €23,044 to €11,231
- Profit (loss) carried forward +€6,329
up €6,329 (+64.2%), from -€9,864 to -€3,535
- Gross operating margin +€6,116
up €6,116 (+5.0%), from €123,474 to €129,590
- Staff costs -€4,617
down €4,617 (-3.8%), from €122,093 to €117,476
- Taxes +€3,727
up €3,727 (+1364.0%), from €273 to €4,000
- Write-downs -€2,289
no longer reported in 2025 (was €2,289)
- Depreciation -€2,260
down €2,260 (-66.4%), from €3,401 to €1,141
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 | €373,120 | €366,288 | -€6,833 | -1.8% |
| Fixed assets | 21/28 | €3,874 | €3,260 | -€614 | -15.9% |
| Tangible fixed assets | 22/27 | €3,720 | €3,106 | -€614 | -16.5% |
| Plant, machinery and equipment | 23 | €804 | €574 | -€231 | -28.7% |
| Furniture and vehicles | 24 | €2,916 | €2,532 | -€383 | -13.1% |
| Financial fixed assets | 28 | €154 | €154 | = | 0.0% |
| Current assets | 29/58 | €369,247 | €363,028 | -€6,218 | -1.7% |
| Stocks and contracts in progress | 3 | €116,225 | €111,462 | -€4,763 | -4.1% |
| Stocks | 30/36 | €116,225 | €111,462 | -€4,763 | -4.1% |
| Amounts receivable within one year | 40/41 | €128,679 | €97,190 | -€31,489 | -24.5% |
| Trade receivables | 40 | €127,278 | €95,789 | -€31,489 | -24.7% |
| Other amounts receivable | 41 | €1,401 | €1,401 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €115,556 | €145,852 | +€30,295 | +26.2% |
| Deferred charges and accrued income | 490/1 | €8,786 | €8,524 | -€262 | -3.0% |
| Total equity and liabilities | 10/49 | €373,120 | €366,288 | -€6,833 | -1.8% |
| Equity | 10/15 | €335,741 | €342,070 | +€6,329 | +1.9% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €339,408 | €339,408 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €337,548 | €337,548 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,864 | -€3,535 | +€6,329 | +64.2% |
| Amounts payable | 17/49 | €37,379 | €24,218 | -€13,161 | -35.2% |
| Amounts payable within one year | 42/48 | €37,379 | €24,218 | -€13,161 | -35.2% |
| Trade debts | 44 | €23,044 | €11,231 | -€11,813 | -51.3% |
| Suppliers | 440/4 | €23,044 | €11,231 | -€11,813 | -51.3% |
| Taxes, remuneration and social security | 45 | €14,336 | €12,987 | -€1,348 | -9.4% |
| Taxes | 450/3 | €5,110 | €4,449 | -€660 | -12.9% |
| Remuneration and social security | 454/9 | €9,226 | €8,538 | -€688 | -7.5% |
| Remuneration, social security and pensions | 62 | €122,093 | €117,476 | -€4,617 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,401 | €1,141 | -€2,260 | -66.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,289 | - | -€2,289 | |
| Other operating charges | 640/8 | €568 | €528 | -€40 | -7.1% |
| Gross operating margin | 9900 | €123,474 | €129,590 | +€6,116 | +5.0% |
| Operating profit (loss) | 9901 | -€4,878 | €10,445 | +€15,322 | |
| Financial income | 75/76B | €23 | €28 | +€5 | +22.4% |
| Recurring financial income | 75 | €23 | €28 | +€5 | +22.4% |
| Financial charges | 65/66B | €112 | €144 | +€32 | +28.1% |
| Recurring financial charges | 65 | €112 | €144 | +€32 | +28.1% |
| Profit (loss) for the period before taxes | 9903 | -€4,967 | €10,329 | +€15,296 | |
| Income taxes | 67/77 | €273 | €4,000 | +€3,727 | +1364.0% |
| Profit (loss) for the period | 9904 | -€5,240 | €6,329 | +€11,569 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,240 | €6,329 | +€11,569 |
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 5 October 2026 via checked.be.