VEEBLEFETZER: 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.
VEEBLEFETZER
Largest movements
- Receivables within one year -€14,040
down €14,040 (-42.2%), from €33,250 to €19,211
of which Other amounts receivable: -€11,541
- Cash -€2,904
down €2,904 (-5.3%), from €54,300 to €51,396
mainly Contributions, distributions and other (-€79,200) and Investment in fixed assets (net) (-€3,514)
- Reserves -€60,127
down €60,127 (-67.4%), from €89,200 to €29,073
- Other debts +€44,307
new in 2025: €44,307
- Tax, wage and social debts -€2,238
down €2,238 (-32.2%), from €6,956 to €4,718
- Trade debts +€1,722
up €1,722 (+114%), from €1,516 to €3,238
- Debts after one year -€1,439
down €1,439 (-53.5%), from €2,692 to €1,253
- Gross operating margin -€11,235
down €11,235 (-24.7%), from €45,538 to €34,303
- Taxes -€2,564
down €2,564 (-29.1%), from €8,804 to €6,240
- Depreciation +€855
up €855 (+25.0%), from €3,423 to €4,278
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 | €106,236 | €88,528 | -€17,708 | -16.7% |
| Fixed assets | 21/28 | €18,685 | €17,921 | -€764 | -4.1% |
| Tangible fixed assets | 22/27 | €18,185 | €17,421 | -€764 | -4.2% |
| Land and buildings | 22 | €10,437 | €9,261 | -€1,176 | -11.3% |
| Plant, machinery and equipment | 23 | €3,723 | €4,038 | +€315 | +8.5% |
| Furniture and vehicles | 24 | €4,025 | €4,121 | +€96 | +2.4% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €87,551 | €70,607 | -€16,944 | -19.4% |
| Amounts receivable within one year | 40/41 | €33,250 | €19,211 | -€14,040 | -42.2% |
| Trade receivables | 40 | €18,029 | €15,530 | -€2,499 | -13.9% |
| Other amounts receivable | 41 | €15,221 | €3,680 | -€11,541 | -75.8% |
| Cash at bank and in hand | 54/58 | €54,300 | €51,396 | -€2,904 | -5.3% |
| Total equity and liabilities | 10/49 | €106,236 | €88,528 | -€17,708 | -16.7% |
| Equity | 10/15 | €93,700 | €33,573 | -€60,127 | -64.2% |
| Contributions | 10/11 | €4,500 | €4,500 | = | 0.0% |
| Reserves | 13 | €89,200 | €29,073 | -€60,127 | -67.4% |
| Distributable reserves | 133 | €89,200 | €29,073 | -€60,127 | -67.4% |
| Amounts payable | 17/49 | €12,536 | €54,955 | +€42,419 | +338% |
| Amounts payable after more than one year | 17 | €2,692 | €1,253 | -€1,439 | -53.5% |
| Financial debts | 170/4 | €2,692 | €1,253 | -€1,439 | -53.5% |
| Amounts payable within one year | 42/48 | €9,844 | €53,702 | +€43,858 | +446% |
| Current portion of amounts payable after more than one year | 42 | €1,373 | €1,439 | +€67 | +4.9% |
| Trade debts | 44 | €1,516 | €3,238 | +€1,722 | +114% |
| Suppliers | 440/4 | €1,516 | €3,238 | +€1,722 | +114% |
| Taxes, remuneration and social security | 45 | €6,956 | €4,718 | -€2,238 | -32.2% |
| Taxes | 450/3 | €6,956 | €4,718 | -€2,238 | -32.2% |
| Other amounts payable | 47/48 | - | €44,307 | +€44,307 | |
| Remuneration, social security and pensions | 62 | €1,920 | €2,310 | +€390 | +20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,423 | €4,278 | +€855 | +25.0% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Non-recurring operating charges | 66A | - | €2,043 | +€2,043 | |
| Gross operating margin | 9900 | €45,538 | €34,303 | -€11,235 | -24.7% |
| Operating profit (loss) | 9901 | €40,077 | €25,551 | -€14,525 | -36.2% |
| Financial income | 75/76B | €306 | €1 | -€305 | -99.5% |
| Recurring financial income | 75 | €306 | €1 | -€305 | -99.5% |
| Financial charges | 65/66B | €417 | €240 | -€177 | -42.4% |
| Recurring financial charges | 65 | €417 | €240 | -€177 | -42.4% |
| Profit (loss) for the period before taxes | 9903 | €39,966 | €25,313 | -€14,653 | -36.7% |
| Income taxes | 67/77 | €8,804 | €6,240 | -€2,564 | -29.1% |
| Profit (loss) for the period | 9904 | €31,162 | €19,073 | -€12,089 | -38.8% |
| Profit (loss) for the period to be appropriated | 9905 | €31,162 | €19,073 | -€12,089 | -38.8% |
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 27 October 2026 via checked.be.