VEDERE: what changed
Two financial 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.
VEDERE
Largest movements
- Cash -€221,701
down €221,701 (-54.3%), from €408,275 to €186,574
mainly Contributions, distributions and other (-€687,682) and Current investments (-€201,340)
- Current investments +€201,340
up €201,340 (+153.7%), from €131,000 to €332,340
- Deferred charges and accrued income +€9,903
up €9,903 (+12.7%), from €77,998 to €87,901
- Other debts +€587,799
up €587,799 (+8700.9%), from €6,756 to €594,555
- Reserves -€485,924
down €485,924 (-100.0%), from €485,924 to €0
- Tax, wage and social debts -€113,187
down €113,187 (-94.4%), from €119,954 to €6,767
of which Taxes: -€113,229
- Gross operating margin +€7,460
up €7,460 (+2.9%), from €254,623 to €262,083
- Financial income +€3,483
up €3,483 (+831.0%), from €419 to €3,902
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 | €620,059 | €608,802 | -€11,257 | -1.8% |
| Fixed assets | 21/28 | €2,787 | €1,987 | -€800 | -28.7% |
| Tangible fixed assets | 22/27 | €2,787 | €1,987 | -€800 | -28.7% |
| Furniture and vehicles | 24 | €2,787 | €1,987 | -€800 | -28.7% |
| Current assets | 29/58 | €617,273 | €606,815 | -€10,458 | -1.7% |
| Current investments | 50/53 | €131,000 | €332,340 | +€201,340 | +153.7% |
| Cash at bank and in hand | 54/58 | €408,275 | €186,574 | -€221,701 | -54.3% |
| Deferred charges and accrued income | 490/1 | €77,998 | €87,901 | +€9,903 | +12.7% |
| Total equity and liabilities | 10/49 | €620,059 | €608,802 | -€11,257 | -1.8% |
| Equity | 10/15 | €490,924 | €5,000 | -€485,924 | -99.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €485,924 | €0 | -€485,924 | -100.0% |
| Distributable reserves | 133 | €485,924 | €0 | -€485,924 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €129,135 | €603,802 | +€474,667 | +367.6% |
| Amounts payable within one year | 42/48 | €127,569 | €601,450 | +€473,880 | +371.5% |
| Trade debts | 44 | €860 | €128 | -€732 | -85.1% |
| Suppliers | 440/4 | €860 | €128 | -€732 | -85.1% |
| Taxes, remuneration and social security | 45 | €119,954 | €6,767 | -€113,187 | -94.4% |
| Taxes | 450/3 | €116,970 | €3,741 | -€113,229 | -96.8% |
| Remuneration and social security | 454/9 | €2,984 | €3,026 | +€42 | +1.4% |
| Other amounts payable | 47/48 | €6,756 | €594,555 | +€587,799 | +8700.9% |
| Accrued charges and deferred income | 492/3 | €1,566 | €2,353 | +€787 | +50.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €800 | €800 | = | 0.0% |
| Other operating charges | 640/8 | €668 | €815 | +€146 | +21.9% |
| Gross operating margin | 9900 | €254,623 | €262,083 | +€7,460 | +2.9% |
| Operating profit (loss) | 9901 | €253,155 | €260,469 | +€7,314 | +2.9% |
| Financial income | 75/76B | €419 | €3,902 | +€3,483 | +831.0% |
| Recurring financial income | 75 | €419 | €3,902 | +€3,483 | +831.0% |
| Financial charges | 65/66B | €644 | €78 | -€566 | -87.9% |
| Recurring financial charges | 65 | €644 | €78 | -€566 | -87.9% |
| Profit (loss) for the period before taxes | 9903 | €252,931 | €264,293 | +€11,362 | +4.5% |
| Income taxes | 67/77 | €64,493 | €62,535 | -€1,958 | -3.0% |
| Profit (loss) for the period | 9904 | €188,438 | €201,758 | +€13,320 | +7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €188,438 | €201,758 | +€13,320 | +7.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.