VEEDEN: 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.
VEEDEN
Largest movements
- Stocks and contracts +€31,305
up €31,305 (+22.9%), from €136,811 to €168,116
- Receivables within one year -€3,680
down €3,680 (-78.9%), from €4,665 to €985
of which Trade receivables: -€3,465
- Profit (loss) carried forward +€49,972
up €49,972 (+35.9%), from -€139,119 to -€89,147
- Debts after one year -€14,882
down €14,882 (-6.5%), from €228,164 to €213,282
of which Other amounts payable: -€14,882
- Trade debts -€9,690
down €9,690 (-48.6%), from €19,929 to €10,239
- Gross operating margin +€66,766
up €66,766, from -€5,994 to €60,772
- Financial charges -€1,810
down €1,810 (-22.7%), from €7,967 to €6,157
- Other operating charges -€1,749
down €1,749 (-36.0%), from €4,853 to €3,103
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 | €148,130 | €173,089 | +€24,959 | +16.8% |
| Fixed assets | 21/28 | €3,586 | €2,586 | -€1,000 | -27.9% |
| Tangible fixed assets | 22/27 | €3,485 | €2,485 | -€1,000 | -28.7% |
| Plant, machinery and equipment | 23 | €3,485 | €2,485 | -€1,000 | -28.7% |
| Financial fixed assets | 28 | €101 | €101 | = | 0.0% |
| Current assets | 29/58 | €144,544 | €170,503 | +€25,959 | +18.0% |
| Stocks and contracts in progress | 3 | €136,811 | €168,116 | +€31,305 | +22.9% |
| Stocks | 30/36 | €136,811 | €168,116 | +€31,305 | +22.9% |
| Amounts receivable within one year | 40/41 | €4,665 | €985 | -€3,680 | -78.9% |
| Trade receivables | 40 | €3,537 | €72 | -€3,465 | -98.0% |
| Other amounts receivable | 41 | €1,128 | €913 | -€215 | -19.0% |
| Cash at bank and in hand | 54/58 | €3,068 | €1,402 | -€1,666 | -54.3% |
| Total equity and liabilities | 10/49 | €148,130 | €173,089 | +€24,959 | +16.8% |
| Equity | 10/15 | -€100,943 | -€50,971 | +€49,972 | +49.5% |
| Contributions | 10/11 | €34,705 | €34,705 | = | 0.0% |
| Reserves | 13 | €3,471 | €3,471 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,471 | €3,471 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,471 | €3,471 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€139,119 | -€89,147 | +€49,972 | +35.9% |
| Amounts payable | 17/49 | €249,073 | €224,060 | -€25,014 | -10.0% |
| Amounts payable after more than one year | 17 | €228,164 | €213,282 | -€14,882 | -6.5% |
| Financial debts | 170/4 | €125,000 | €125,000 | = | 0.0% |
| Other amounts payable | 178/9 | €103,164 | €88,282 | -€14,882 | -14.4% |
| Amounts payable within one year | 42/48 | €20,909 | €10,778 | -€10,132 | -48.5% |
| Trade debts | 44 | €19,929 | €10,239 | -€9,690 | -48.6% |
| Suppliers | 440/4 | €19,929 | €10,239 | -€9,690 | -48.6% |
| Taxes, remuneration and social security | 45 | €980 | €539 | -€441 | -45.0% |
| Taxes | 450/3 | €980 | €539 | -€441 | -45.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,000 | €1,000 | = | 0.0% |
| Other operating charges | 640/8 | €4,853 | €3,103 | -€1,749 | -36.0% |
| Gross operating margin | 9900 | -€5,994 | €60,772 | +€66,766 | |
| Operating profit (loss) | 9901 | -€11,847 | €56,668 | +€68,515 | |
| Financial income | 75/76B | €368 | - | -€368 | |
| Recurring financial income | 75 | €368 | - | -€368 | |
| Financial charges | 65/66B | €7,967 | €6,157 | -€1,810 | -22.7% |
| Recurring financial charges | 65 | €7,967 | €6,157 | -€1,810 | -22.7% |
| Profit (loss) for the period before taxes | 9903 | -€19,446 | €50,511 | +€69,957 | |
| Income taxes | 67/77 | €530 | €539 | +€9 | +1.7% |
| Profit (loss) for the period | 9904 | -€19,976 | €49,972 | +€69,948 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,976 | €49,972 | +€69,948 |
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 6 October 2026 via checked.be.