Veehof: what changed
Veehof
Largest movements
- Receivables within one year -€438,320
down €438,320 (-31.0%), from €1.4m to €974,508
of which Trade receivables: -€288,748
- Cash +€105,310
up €105,310 (+44.2%), from €238,244 to €343,553
mainly Receivables within one year (+€438,320) and Depreciation (+€167,913)
- Stocks and contracts -€80,922
down €80,922 (-10.2%), from €790,675 to €709,753
- Deferred charges and accrued income -€38,457
down €38,457 (-73.7%), from €52,203 to €13,746
- Tangible fixed assets +€30,837
up €30,837 (+5.9%), from €519,190 to €550,027
of which Furniture and vehicles: +€86,793
- Trade debts -€631,415
down €631,415 (-41.1%), from €1.5m to €905,087
- Other debts +€155,046
up €155,046 (+56.5%), from €274,204 to €429,250
- Debts after one year +€60,584
up €60,584 (+150%), from €40,416 to €101,000
- Current portion of long-term debt -€41,333
down €41,333 (-41.3%), from €100,000 to €58,666
- Reserves +€35,803
up €35,803 (+6.4%), from €558,365 to €594,168
of which Distributable reserves: +€35,803
- Staff costs -€36,823
down €36,823 (-22.1%), from €166,306 to €129,484
- Gross operating margin -€35,474
down €35,474 (-7.7%), from €457,729 to €422,255
- Depreciation +€28,201
up €28,201 (+20.2%), from €139,712 to €167,913
- Taxes -€13,423
down €13,423 (-54.2%), from €24,757 to €11,335
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,032,207 | €2,610,655 | -€421,553 | -13.9% |
| Fixed assets | 21/28 | €538,257 | €569,094 | +€30,837 | +5.7% |
| Tangible fixed assets | 22/27 | €519,190 | €550,027 | +€30,837 | +5.9% |
| Land and buildings | 22 | €177,916 | €166,798 | -€11,118 | -6.2% |
| Plant, machinery and equipment | 23 | €47,440 | €37,274 | -€10,165 | -21.4% |
| Furniture and vehicles | 24 | €143,928 | €230,721 | +€86,793 | +60.3% |
| Other tangible fixed assets | 26 | €149,906 | €115,234 | -€34,673 | -23.1% |
| Financial fixed assets | 28 | €19,067 | €19,067 | = | 0.0% |
| Current assets | 29/58 | €2,493,950 | €2,041,561 | -€452,389 | -18.1% |
| Stocks and contracts in progress | 3 | €790,675 | €709,753 | -€80,922 | -10.2% |
| Stocks | 30/36 | €790,675 | €709,753 | -€80,922 | -10.2% |
| Amounts receivable within one year | 40/41 | €1,412,828 | €974,508 | -€438,320 | -31.0% |
| Trade receivables | 40 | €1,170,756 | €882,008 | -€288,748 | -24.7% |
| Other amounts receivable | 41 | €242,072 | €92,500 | -€149,572 | -61.8% |
| Cash at bank and in hand | 54/58 | €238,244 | €343,553 | +€105,310 | +44.2% |
| Deferred charges and accrued income | 490/1 | €52,203 | €13,746 | -€38,457 | -73.7% |
| Total equity and liabilities | 10/49 | €3,032,207 | €2,610,655 | -€421,553 | -13.9% |
| Equity | 10/15 | €620,338 | €656,141 | +€35,803 | +5.8% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €558,365 | €594,168 | +€35,803 | +6.4% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,500 | €18,500 | = | 0.0% |
| Distributable reserves | 133 | €533,667 | €569,470 | +€35,803 | +6.7% |
| Amounts payable | 17/49 | €2,411,869 | €1,954,514 | -€457,356 | -19.0% |
| Amounts payable after more than one year | 17 | €40,416 | €101,000 | +€60,584 | +150% |
| Financial debts | 170/4 | €40,416 | €101,000 | +€60,584 | +150% |
| Amounts payable within one year | 42/48 | €2,352,218 | €1,814,670 | -€537,548 | -22.9% |
| Current portion of amounts payable after more than one year | 42 | €100,000 | €58,666 | -€41,333 | -41.3% |
| Financial debts | 43 | €400,000 | €400,000 | = | 0.0% |
| Credit institutions | 430/8 | €400,000 | €400,000 | = | 0.0% |
| Trade debts | 44 | €1,536,502 | €905,087 | -€631,415 | -41.1% |
| Suppliers | 440/4 | €1,536,502 | €905,087 | -€631,415 | -41.1% |
| Taxes, remuneration and social security | 45 | €41,513 | €21,667 | -€19,845 | -47.8% |
| Taxes | 450/3 | €4,757 | €6,092 | +€1,335 | +28.1% |
| Remuneration and social security | 454/9 | €36,755 | €15,575 | -€21,180 | -57.6% |
| Other amounts payable | 47/48 | €274,204 | €429,250 | +€155,046 | +56.5% |
| Accrued charges and deferred income | 492/3 | €19,235 | €38,844 | +€19,609 | +102% |
| Remuneration, social security and pensions | 62 | €166,306 | €129,484 | -€36,823 | -22.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,712 | €167,913 | +€28,201 | +20.2% |
| Other operating charges | 640/8 | €28,291 | €31,095 | +€2,804 | +9.9% |
| Gross operating margin | 9900 | €457,729 | €422,255 | -€35,474 | -7.7% |
| Operating profit (loss) | 9901 | €123,420 | €93,763 | -€29,657 | -24.0% |
| Financial income | 75/76B | €1,609 | €198 | -€1,411 | -87.7% |
| Recurring financial income | 75 | €1,609 | €198 | -€1,411 | -87.7% |
| Financial charges | 65/66B | €44,217 | €46,824 | +€2,607 | +5.9% |
| Recurring financial charges | 65 | €44,217 | €46,824 | +€2,607 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €80,812 | €47,138 | -€33,674 | -41.7% |
| Income taxes | 67/77 | €24,757 | €11,335 | -€13,423 | -54.2% |
| Profit (loss) for the period | 9904 | €56,055 | €35,803 | -€20,252 | -36.1% |
| Profit (loss) for the period to be appropriated | 9905 | €56,055 | €35,803 | -€20,252 | -36.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.