VEBRO: 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.
VEBRO
Largest movements
- Cash +€8,673
up €8,673 (+49.6%), from €17,481 to €26,155
mainly Stocks and contracts (+€7,438) and Net result for the year (+€6,540)
- Stocks and contracts -€7,438
down €7,438 (-75.4%), from €9,864 to €2,425
- Receivables within one year +€3,781
new in 2025: €3,781
- Deferred charges and accrued income +€535
new in 2025: €535
- Tangible fixed assets -€370
down €370 (-40.6%), from €912 to €542
- Reserves +€5,707
up €5,707 (+44.7%), from €12,778 to €18,485
- Trade debts -€3,810
down €3,810 (-41.3%), from €9,232 to €5,422
- Tax, wage and social debts +€2,891
up €2,891 (+68.6%), from €4,213 to €7,105
- Gross operating margin -€8,348
down €8,348 (-46.1%), from €18,116 to €9,768
- Taxes -€1,495
down €1,495 (-36.2%), from €4,123 to €2,629
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 | €28,257 | €33,438 | +€5,180 | +18.3% |
| Fixed assets | 21/28 | €912 | €542 | -€370 | -40.6% |
| Tangible fixed assets | 22/27 | €912 | €542 | -€370 | -40.6% |
| Plant, machinery and equipment | 23 | €912 | €542 | -€370 | -40.6% |
| Current assets | 29/58 | €27,345 | €32,896 | +€5,551 | +20.3% |
| Stocks and contracts in progress | 3 | €9,864 | €2,425 | -€7,438 | -75.4% |
| Stocks | 30/36 | €9,864 | €2,425 | -€7,438 | -75.4% |
| Amounts receivable within one year | 40/41 | - | €3,781 | +€3,781 | |
| Trade receivables | 40 | - | €3,781 | +€3,781 | |
| Cash at bank and in hand | 54/58 | €17,481 | €26,155 | +€8,673 | +49.6% |
| Deferred charges and accrued income | 490/1 | - | €535 | +€535 | |
| Total equity and liabilities | 10/49 | €28,257 | €33,438 | +€5,180 | +18.3% |
| Equity | 10/15 | €13,778 | €19,485 | +€5,707 | +41.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €12,778 | €18,485 | +€5,707 | +44.7% |
| Distributable reserves | 133 | €12,778 | €18,485 | +€5,707 | +44.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €14,479 | €13,952 | -€526 | -3.6% |
| Amounts payable within one year | 42/48 | €14,479 | €13,756 | -€723 | -5.0% |
| Trade debts | 44 | €9,232 | €5,422 | -€3,810 | -41.3% |
| Suppliers | 440/4 | €9,232 | €5,422 | -€3,810 | -41.3% |
| Taxes, remuneration and social security | 45 | €4,213 | €7,105 | +€2,891 | +68.6% |
| Taxes | 450/3 | €4,213 | €7,105 | +€2,891 | +68.6% |
| Other amounts payable | 47/48 | €1,033 | €1,229 | +€196 | +19.0% |
| Accrued charges and deferred income | 492/3 | - | €197 | +€197 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €199 | €370 | +€171 | +86.2% |
| Other operating charges | 640/8 | €126 | €286 | +€160 | +126.6% |
| Gross operating margin | 9900 | €18,116 | €9,768 | -€8,348 | -46.1% |
| Operating profit (loss) | 9901 | €17,791 | €9,112 | -€8,679 | -48.8% |
| Financial income | 75/76B | - | €143 | +€143 | |
| Recurring financial income | 75 | - | €143 | +€143 | |
| Financial charges | 65/66B | €31 | €87 | +€56 | +180.8% |
| Recurring financial charges | 65 | €31 | €87 | +€56 | +180.8% |
| Profit (loss) for the period before taxes | 9903 | €17,761 | €9,168 | -€8,592 | -48.4% |
| Income taxes | 67/77 | €4,123 | €2,629 | -€1,495 | -36.2% |
| Profit (loss) for the period | 9904 | €13,637 | €6,540 | -€7,098 | -52.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,637 | €6,540 | -€7,098 | -52.0% |
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 29 September 2026 via checked.be.