Vebu Services: 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.
Vebu Services
Largest movements
- Tangible fixed assets +€290,671
up €290,671 (+6232.0%), from €4,664 to €295,335
of which Plant, machinery and equipment: +€284,691
- Cash +€53,509
up €53,509 (+45.7%), from €117,202 to €170,712
mainly Debts after one year (+€208,897) and Net result for the year (+€137,933)
- Receivables within one year +€26,096
up €26,096 (+123.8%), from €21,078 to €47,174
of which Other amounts receivable: +€15,772
- Deferred charges and accrued income +€5,340
new in 2025: €5,340
- Debts after one year +€208,897
new in 2025: €208,897
- Reserves +€135,000
up €135,000 (+122.7%), from €110,000 to €245,000
- Tax, wage and social debts +€18,056
up €18,056 (+80.2%), from €22,522 to €40,578
- Current portion of long-term debt +€7,976
new in 2025: €7,976
- Gross operating margin +€92,406
up €92,406 (+83.6%), from €110,523 to €202,928
- Depreciation +€18,136
up €18,136 (+2470.5%), from €734 to €18,870
- Taxes +€17,539
up €17,539 (+77.9%), from €22,522 to €40,061
- Financial charges +€4,275
up €4,275 (+256.1%), from €1,669 to €5,944
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 | €142,944 | €518,560 | +€375,616 | +262.8% |
| Fixed assets | 21/28 | €4,664 | €295,335 | +€290,671 | +6232.0% |
| Tangible fixed assets | 22/27 | €4,664 | €295,335 | +€290,671 | +6232.0% |
| Plant, machinery and equipment | 23 | €1,998 | €286,690 | +€284,691 | +14245.8% |
| Furniture and vehicles | 24 | €2,666 | €8,645 | +€5,979 | +224.3% |
| Current assets | 29/58 | €138,280 | €223,225 | +€84,945 | +61.4% |
| Amounts receivable within one year | 40/41 | €21,078 | €47,174 | +€26,096 | +123.8% |
| Trade receivables | 40 | €14,676 | €25,000 | +€10,324 | +70.3% |
| Other amounts receivable | 41 | €6,402 | €22,174 | +€15,772 | +246.4% |
| Cash at bank and in hand | 54/58 | €117,202 | €170,712 | +€53,509 | +45.7% |
| Deferred charges and accrued income | 490/1 | - | €5,340 | +€5,340 | |
| Total equity and liabilities | 10/49 | €142,944 | €518,560 | +€375,616 | +262.8% |
| Equity | 10/15 | €118,113 | €256,046 | +€137,933 | +116.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €110,000 | €245,000 | +€135,000 | +122.7% |
| Distributable reserves | 133 | €110,000 | €245,000 | +€135,000 | +122.7% |
| Profit (loss) carried forward | 14 | €3,113 | €6,046 | +€2,933 | +94.2% |
| Amounts payable | 17/49 | €24,832 | €262,514 | +€237,682 | +957.2% |
| Amounts payable after more than one year | 17 | - | €208,897 | +€208,897 | |
| Financial debts | 170/4 | - | €208,897 | +€208,897 | |
| Amounts payable within one year | 42/48 | €24,832 | €53,616 | +€28,785 | +115.9% |
| Current portion of amounts payable after more than one year | 42 | - | €7,976 | +€7,976 | |
| Trade debts | 44 | €2,255 | €2,513 | +€258 | +11.4% |
| Suppliers | 440/4 | €2,255 | €2,513 | +€258 | +11.4% |
| Taxes, remuneration and social security | 45 | €22,522 | €40,578 | +€18,056 | +80.2% |
| Taxes | 450/3 | €22,522 | €40,578 | +€18,056 | +80.2% |
| Other amounts payable | 47/48 | €54 | €2,550 | +€2,496 | +4632.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €734 | €18,870 | +€18,136 | +2470.5% |
| Other operating charges | 640/8 | €204 | €719 | +€515 | +252.0% |
| Gross operating margin | 9900 | €110,523 | €202,928 | +€92,406 | +83.6% |
| Operating profit (loss) | 9901 | €109,584 | €183,339 | +€73,755 | +67.3% |
| Financial income | 75/76B | - | €599 | +€599 | |
| Recurring financial income | 75 | - | €599 | +€599 | |
| Financial charges | 65/66B | €1,669 | €5,944 | +€4,275 | +256.1% |
| Recurring financial charges | 65 | €1,669 | €5,944 | +€4,275 | +256.1% |
| Profit (loss) for the period before taxes | 9903 | €107,915 | €177,994 | +€70,079 | +64.9% |
| Income taxes | 67/77 | €22,522 | €40,061 | +€17,539 | +77.9% |
| Profit (loss) for the period | 9904 | €85,393 | €137,933 | +€52,540 | +61.5% |
| Profit (loss) for the period to be appropriated | 9905 | €85,393 | €137,933 | +€52,540 | +61.5% |
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 4 October 2026 via checked.be.