VEEHANDEL CVM: 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.
VEEHANDEL CVM
Largest movements
- Receivables within one year +€513,011
up €513,011 (+94.1%), from €545,385 to €1.1m
of which Trade receivables: +€584,333
- Deferred charges and accrued income -€80,000
down €80,000 (-100.0%), from €80,000 to €0
- Stocks and contracts +€52,920
up €52,920 (+945.0%), from €5,600 to €58,520
- Tangible fixed assets +€44,677
up €44,677 (+10.2%), from €436,846 to €481,523
of which Land and buildings: +€68,691
- Cash -€28,377
down €28,377 (-25.2%), from €112,488 to €84,111
mainly Receivables within one year (-€513,011) and Investment in fixed assets (net) (-€101,772)
- Other debts +€287,176
up €287,176 (+424.6%), from €67,641 to €354,817
- Trade debts +€175,453
up €175,453 (+37.3%), from €470,940 to €646,393
- Reserves +€63,987
up €63,987 (+27.5%), from €232,898 to €296,886
of which Distributable reserves: +€63,987
- Debts after one year -€48,084
down €48,084 (-25.4%), from €189,274 to €141,190
- Short-term financial debts +€18,331
up €18,331 (+13.9%), from €131,469 to €149,800
- Gross operating margin +€13,592
up €13,592 (+8.4%), from €161,006 to €174,598
- Financial charges -€7,220
down €7,220 (-30.2%), from €23,887 to €16,667
- Depreciation +€4,873
up €4,873 (+9.3%), from €52,222 to €57,095
- Taxes +€3,596
up €3,596 (+16.2%), from €22,259 to €25,855
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 | €1,180,319 | €1,682,551 | +€502,232 | +42.6% |
| Fixed assets | 21/28 | €436,846 | €481,523 | +€44,677 | +10.2% |
| Tangible fixed assets | 22/27 | €436,846 | €481,523 | +€44,677 | +10.2% |
| Land and buildings | 22 | €380,189 | €448,880 | +€68,691 | +18.1% |
| Plant, machinery and equipment | 23 | €1,955 | €796 | -€1,159 | -59.3% |
| Furniture and vehicles | 24 | €54,702 | €31,847 | -€22,855 | -41.8% |
| Current assets | 29/58 | €743,473 | €1,201,028 | +€457,555 | +61.5% |
| Stocks and contracts in progress | 3 | €5,600 | €58,520 | +€52,920 | +945.0% |
| Stocks | 30/36 | €5,600 | €58,520 | +€52,920 | +945.0% |
| Amounts receivable within one year | 40/41 | €545,385 | €1,058,396 | +€513,011 | +94.1% |
| Trade receivables | 40 | €444,382 | €1,028,715 | +€584,333 | +131.5% |
| Other amounts receivable | 41 | €101,002 | €29,681 | -€71,321 | -70.6% |
| Cash at bank and in hand | 54/58 | €112,488 | €84,111 | -€28,377 | -25.2% |
| Deferred charges and accrued income | 490/1 | €80,000 | €0 | -€80,000 | -100.0% |
| Total equity and liabilities | 10/49 | €1,180,319 | €1,682,551 | +€502,232 | +42.6% |
| Equity | 10/15 | €251,498 | €315,486 | +€63,987 | +25.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €232,898 | €296,886 | +€63,987 | +27.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,725 | €17,725 | = | 0.0% |
| Distributable reserves | 133 | €213,313 | €277,300 | +€63,987 | +30.0% |
| Amounts payable | 17/49 | €928,820 | €1,367,065 | +€438,245 | +47.2% |
| Amounts payable after more than one year | 17 | €189,274 | €141,190 | -€48,084 | -25.4% |
| Financial debts | 170/4 | €189,274 | €141,190 | -€48,084 | -25.4% |
| Amounts payable within one year | 42/48 | €739,546 | €1,225,875 | +€486,329 | +65.8% |
| Current portion of amounts payable after more than one year | 42 | €55,319 | €48,084 | -€7,234 | -13.1% |
| Financial debts | 43 | €131,469 | €149,800 | +€18,331 | +13.9% |
| Credit institutions | 430/8 | €131,469 | €149,800 | +€18,331 | +13.9% |
| Trade debts | 44 | €470,940 | €646,393 | +€175,453 | +37.3% |
| Suppliers | 440/4 | €470,940 | €646,393 | +€175,453 | +37.3% |
| Taxes, remuneration and social security | 45 | €14,177 | €26,781 | +€12,604 | +88.9% |
| Taxes | 450/3 | €14,177 | €26,781 | +€12,604 | +88.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €67,641 | €354,817 | +€287,176 | +424.6% |
| Non-recurring operating income | 76A | €0 | €4,800 | +€4,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,222 | €57,095 | +€4,873 | +9.3% |
| Other operating charges | 640/8 | €12,669 | €11,776 | -€892 | -7.0% |
| Gross operating margin | 9900 | €161,006 | €174,598 | +€13,592 | +8.4% |
| Operating profit (loss) | 9901 | €96,115 | €105,727 | +€9,612 | +10.0% |
| Financial income | 75/76B | €4 | €783 | +€779 | +19481.0% |
| Recurring financial income | 75 | €4 | €783 | +€779 | +19481.0% |
| Financial charges | 65/66B | €23,887 | €16,667 | -€7,220 | -30.2% |
| Recurring financial charges | 65 | €23,887 | €16,667 | -€7,220 | -30.2% |
| Profit (loss) for the period before taxes | 9903 | €72,232 | €89,843 | +€17,611 | +24.4% |
| Income taxes | 67/77 | €22,259 | €25,855 | +€3,596 | +16.2% |
| Profit (loss) for the period | 9904 | €49,973 | €63,987 | +€14,014 | +28.0% |
| Profit (loss) for the period to be appropriated | 9905 | €49,973 | €63,987 | +€14,014 | +28.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.