VEEAN: 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.
VEEAN
Largest movements
- Cash +€63,840
up €63,840 (+232%), from €27,572 to €91,412
mainly Net result for the year (+€92,135) and Current portion of long-term debt (+€60,280)
- Reserves +€92,135
up €92,135 (+92.2%), from €99,883 to €192,017
- Debts after one year -€90,520
down €90,520 (-87.7%), from €103,240 to €12,720
- Current portion of long-term debt +€60,280
up €60,280 (+199%), from €30,240 to €90,520
- Financial income +€67,599
up €67,599 (+209%), from €32,417 to €100,016
- Gross operating margin -€13,511
down €13,511, from €6,220 to -€7,291
- Taxes -€1,518
down €1,518 (-100%), from €1,518 to €0
- Other operating charges +€402
up €402 (+319%), from €126 to €528
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.
Derived cash bridge
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 | €242,948 | €307,057 | +€64,109 | +26.4% |
| Fixed assets | 21/28 | €211,600 | €211,600 | = | 0.0% |
| Financial fixed assets | 28 | €211,600 | €211,600 | = | 0.0% |
| Current assets | 29/58 | €31,348 | €95,457 | +€64,109 | +205% |
| Amounts receivable within one year | 40/41 | €1,239 | €1,508 | +€270 | +21.8% |
| Other amounts receivable | 41 | €1,239 | €1,508 | +€270 | +21.8% |
| Cash at bank and in hand | 54/58 | €27,572 | €91,412 | +€63,840 | +232% |
| Deferred charges and accrued income | 490/1 | €2,537 | €2,536 | -€1 | 0.0% |
| Total equity and liabilities | 10/49 | €242,948 | €307,057 | +€64,109 | +26.4% |
| Equity | 10/15 | €104,883 | €197,017 | +€92,135 | +87.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €99,883 | €192,017 | +€92,135 | +92.2% |
| Distributable reserves | 133 | €99,883 | €192,017 | +€92,135 | +92.2% |
| Amounts payable | 17/49 | €138,066 | €110,040 | -€28,026 | -20.3% |
| Amounts payable after more than one year | 17 | €103,240 | €12,720 | -€90,520 | -87.7% |
| Financial debts | 170/4 | €103,240 | €12,720 | -€90,520 | -87.7% |
| Amounts payable within one year | 42/48 | €34,826 | €97,320 | +€62,494 | +179% |
| Current portion of amounts payable after more than one year | 42 | €30,240 | €90,520 | +€60,280 | +199% |
| Taxes, remuneration and social security | 45 | €4,586 | €6,800 | +€2,214 | +48.3% |
| Taxes | 450/3 | €4,586 | €6,800 | +€2,214 | +48.3% |
| Other operating charges | 640/8 | €126 | €528 | +€402 | +319% |
| Non-recurring operating charges | 66A | - | €23 | +€23 | |
| Gross operating margin | 9900 | €6,220 | -€7,291 | -€13,511 | |
| Operating profit (loss) | 9901 | €6,094 | -€7,841 | -€13,935 | |
| Financial income | 75/76B | €32,417 | €100,016 | +€67,599 | +209% |
| Recurring financial income | 75 | €32,417 | €100,016 | +€67,599 | +209% |
| Financial charges | 65/66B | €39 | €40 | +€1 | +3.5% |
| Recurring financial charges | 65 | €39 | €40 | +€1 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €38,472 | €92,135 | +€53,662 | +139% |
| Income taxes | 67/77 | €1,518 | €0 | -€1,518 | -100% |
| Profit (loss) for the period | 9904 | €36,954 | €92,135 | +€55,180 | +149% |
| Profit (loss) for the period to be appropriated | 9905 | €36,954 | €92,135 | +€55,180 | +149% |
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 19 October 2026 via checked.be.