VEDEBE: 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.
What changed
VEDEBE
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3,737
2024 · -€530+€4,266
Equity
€480,052
2024 · €476,315+€3,737
Cash
€31,050
2024 · €27,472+€3,578
Balance sheet total
€665,154
2024 · €681,756-€16,602
Largest movements
Assets
- Tangible fixed assets -€20,177
down €20,177 (-3.1%), from €654,281 to €634,104
Equity and liabilities
- Other debts -€16,132
down €16,132 (-15.9%), from €101,246 to €85,114
Income statement
- Gross operating margin +€7,703
up €7,703 (+29.8%), from €25,851 to €33,553
- Taxes +€3,392
up €3,392 (+426.9%), from €795 to €4,187
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.
Result 2024
-€530
Gross operating margin
+€7,703
Other operating charges
-€105
Financial income
+€49
Financial charges
+€12
Taxes
-€3,392
Result 2025
€3,737
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.
From operations
+€7,584
Investment
€0
Financing
-€4,007
Cash 2024
€27,472
From operations (derived)
+€7,584
Net result for the year
+€3,737
Depreciation
+€20,177
Deferred charges and accrued income
+€3
Provisions
-€2,826
Trade debts
-€343
Tax, wage and social debts
+€3,377
Other debts
-€16,132
Accrued charges and deferred income
-€409
Financing
-€4,007
Debts after one year
-€4,075
Current portion of long-term debt
+€68
Cash 2025
€31,050
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €681,756 | €665,154 | -€16,602 | -2.4% |
| Fixed assets | 21/28 | €654,281 | €634,104 | -€20,177 | -3.1% |
| Tangible fixed assets | 22/27 | €654,281 | €634,104 | -€20,177 | -3.1% |
| Land and buildings | 22 | €654,281 | €634,104 | -€20,177 | -3.1% |
| Current assets | 29/58 | €27,475 | €31,050 | +€3,575 | +13.0% |
| Cash at bank and in hand | 54/58 | €27,472 | €31,050 | +€3,578 | +13.0% |
| Deferred charges and accrued income | 490/1 | €3 | €0 | -€3 | -100.0% |
| Total equity and liabilities | 10/49 | €681,756 | €665,154 | -€16,602 | -2.4% |
| Equity | 10/15 | €476,315 | €480,052 | +€3,737 | +0.8% |
| Contributions | 10/11 | €176,084 | €176,084 | = | 0.0% |
| Capital | 10 | €176,084 | €176,084 | = | 0.0% |
| Issued capital | 100 | €176,084 | €176,084 | = | 0.0% |
| Reserves | 13 | €300,231 | €303,968 | +€3,737 | +1.2% |
| Non-distributable reserves | 130/1 | €17,608 | €17,608 | = | 0.0% |
| Legal reserve | 130 | €17,608 | €17,608 | = | 0.0% |
| Tax-exempt reserves | 132 | €228,312 | €219,836 | -€8,476 | -3.7% |
| Distributable reserves | 133 | €54,310 | €66,523 | +€12,213 | +22.5% |
| Provisions and deferred taxes | 16 | €76,104 | €73,279 | -€2,826 | -3.7% |
| Deferred taxes | 168 | €76,104 | €73,279 | -€2,826 | -3.7% |
| Amounts payable | 17/49 | €129,337 | €111,824 | -€17,513 | -13.5% |
| Amounts payable after more than one year | 17 | €18,165 | €14,090 | -€4,075 | -22.4% |
| Financial debts | 170/4 | €18,165 | €14,090 | -€4,075 | -22.4% |
| Amounts payable within one year | 42/48 | €106,390 | €93,361 | -€13,029 | -12.2% |
| Current portion of amounts payable after more than one year | 42 | €4,007 | €4,075 | +€68 | +1.7% |
| Trade debts | 44 | €343 | €0 | -€343 | -100.0% |
| Suppliers | 440/4 | €343 | €0 | -€343 | -100.0% |
| Taxes, remuneration and social security | 45 | €795 | €4,172 | +€3,377 | +425.0% |
| Taxes | 450/3 | €795 | €4,172 | +€3,377 | +425.0% |
| Other amounts payable | 47/48 | €101,246 | €85,114 | -€16,132 | -15.9% |
| Accrued charges and deferred income | 492/3 | €4,782 | €4,372 | -€409 | -8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,177 | €20,177 | = | 0.0% |
| Other operating charges | 640/8 | €3,353 | €3,458 | +€105 | +3.1% |
| Gross operating margin | 9900 | €25,851 | €33,553 | +€7,703 | +29.8% |
| Operating profit (loss) | 9901 | €2,321 | €9,919 | +€7,598 | +327.4% |
| Financial income | 75/76B | €0 | €49 | +€49 | |
| Recurring financial income | 75 | €0 | €49 | +€49 | |
| Financial charges | 65/66B | €4,882 | €4,870 | -€12 | -0.2% |
| Recurring financial charges | 65 | €4,882 | €4,870 | -€12 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | -€2,561 | €5,098 | +€7,658 | |
| Transfer from deferred taxes | 780 | €2,826 | €2,826 | = | 0.0% |
| Income taxes | 67/77 | €795 | €4,187 | +€3,392 | +426.9% |
| Profit (loss) for the period | 9904 | -€530 | €3,737 | +€4,266 | |
| Transfer from tax-exempt reserves | 789 | €8,476 | €8,476 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,947 | €12,213 | +€4,266 | +53.7% |
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.