VEDA DEVELOPMENT: 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.
VEDA DEVELOPMENT
Largest movements
- Stocks and contracts +€103,693
up €103,693 (+30.9%), from €335,413 to €439,106
- Receivables within one year -€41,854
down €41,854 (-96.6%), from €43,325 to €1,471
- Debts after one year +€46,575
up €46,575 (+11.1%), from €420,399 to €466,974
- Trade debts +€24,803
up €24,803 (+270.4%), from €9,173 to €33,976
- Profit (loss) carried forward -€9,893
down €9,893 (-14.6%), from -€67,656 to -€77,549
- Gross operating margin +€59,113
up €59,113, from -€33,268 to €25,844
- Financial charges +€17,698
up €17,698 (+98.1%), from €18,039 to €35,737
- Other operating charges -€968
no longer reported in 2025 (was €968)
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 | €381,917 | €443,402 | +€61,485 | +16.1% |
| Current assets | 29/58 | €381,917 | €443,402 | +€61,485 | +16.1% |
| Stocks and contracts in progress | 3 | €335,413 | €439,106 | +€103,693 | +30.9% |
| Stocks | 30/36 | €335,413 | €439,106 | +€103,693 | +30.9% |
| Amounts receivable within one year | 40/41 | €43,325 | €1,471 | -€41,854 | -96.6% |
| Other amounts receivable | 41 | €43,325 | €1,471 | -€41,854 | -96.6% |
| Cash at bank and in hand | 54/58 | €3,179 | €2,825 | -€353 | -11.1% |
| Total equity and liabilities | 10/49 | €381,917 | €443,402 | +€61,485 | +16.1% |
| Equity | 10/15 | -€47,656 | -€57,549 | -€9,893 | -20.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,656 | -€77,549 | -€9,893 | -14.6% |
| Amounts payable | 17/49 | €429,572 | €500,951 | +€71,378 | +16.6% |
| Amounts payable after more than one year | 17 | €420,399 | €466,974 | +€46,575 | +11.1% |
| Financial debts | 170/4 | €420,399 | €466,974 | +€46,575 | +11.1% |
| Amounts payable within one year | 42/48 | €9,173 | €33,976 | +€24,803 | +270.4% |
| Trade debts | 44 | €9,173 | €33,976 | +€24,803 | +270.4% |
| Suppliers | 440/4 | €9,173 | €33,976 | +€24,803 | +270.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126 | - | -€126 | |
| Other operating charges | 640/8 | €968 | - | -€968 | |
| Gross operating margin | 9900 | -€33,268 | €25,844 | +€59,113 | |
| Operating profit (loss) | 9901 | -€34,362 | €25,844 | +€60,206 | |
| Financial charges | 65/66B | €18,039 | €35,737 | +€17,698 | +98.1% |
| Recurring financial charges | 65 | €18,039 | €35,737 | +€17,698 | +98.1% |
| Profit (loss) for the period before taxes | 9903 | -€52,401 | -€9,893 | +€42,508 | +81.1% |
| Profit (loss) for the period | 9904 | -€52,401 | -€9,893 | +€42,508 | +81.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€52,401 | -€9,893 | +€42,508 | +81.1% |
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 1 October 2026 via checked.be.