VEEKEMANS: 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.
VEEKEMANS
Largest movements
- Cash -€217,810
down €217,810 (-60.1%), from €362,514 to €144,704
mainly Net result for the year (-€230,303) and Short-term financial debts (-€167,109)
- Tangible fixed assets +€43,451
up €43,451 (+269.2%), from €16,141 to €59,592
of which Plant, machinery and equipment: +€31,215
- Receivables within one year +€31,844
up €31,844 (+26.7%), from €119,477 to €151,321
of which Other amounts receivable: +€31,826
- Reserves -€230,303
down €230,303 (-79.9%), from €288,385 to €58,082
- Debts after one year +€199,700
new in 2025: €199,700
- Short-term financial debts -€167,109
down €167,109 (-100.0%), from €167,109 to €0
- Trade debts +€44,377
up €44,377 (+45.3%), from €98,007 to €142,384
- Current portion of long-term debt +€28,134
new in 2025: €28,134
- Gross operating margin -€1.1m
down €1.1m (-68.1%), from €1.6m to €499,977
- Taxes -€225,215
down €225,215 (-100.0%), from €225,215 to €0
- Staff costs +€35,769
up €35,769 (+5.4%), from €657,687 to €693,456
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 | €707,143 | €564,822 | -€142,321 | -20.1% |
| Fixed assets | 21/28 | €16,141 | €59,842 | +€43,701 | +270.7% |
| Tangible fixed assets | 22/27 | €16,141 | €59,592 | +€43,451 | +269.2% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €16,141 | €47,356 | +€31,215 | +193.4% |
| Furniture and vehicles | 24 | €0 | €12,236 | +€12,236 | |
| Financial fixed assets | 28 | - | €250 | +€250 | |
| Current assets | 29/58 | €691,002 | €504,979 | -€186,022 | -26.9% |
| Stocks and contracts in progress | 3 | €198,793 | €203,245 | +€4,452 | +2.2% |
| Stocks | 30/36 | €198,793 | €203,245 | +€4,452 | +2.2% |
| Amounts receivable within one year | 40/41 | €119,477 | €151,321 | +€31,844 | +26.7% |
| Trade receivables | 40 | €99,343 | €99,360 | +€18 | 0.0% |
| Other amounts receivable | 41 | €20,134 | €51,960 | +€31,826 | +158.1% |
| Cash at bank and in hand | 54/58 | €362,514 | €144,704 | -€217,810 | -60.1% |
| Deferred charges and accrued income | 490/1 | €10,217 | €5,710 | -€4,508 | -44.1% |
| Total equity and liabilities | 10/49 | €707,143 | €564,822 | -€142,321 | -20.1% |
| Equity | 10/15 | €306,935 | €76,632 | -€230,303 | -75.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €288,385 | €58,082 | -€230,303 | -79.9% |
| Distributable reserves | 133 | €288,385 | €58,082 | -€230,303 | -79.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €400,208 | €488,190 | +€87,982 | +22.0% |
| Amounts payable after more than one year | 17 | - | €199,700 | +€199,700 | |
| Financial debts | 170/4 | - | €199,700 | +€199,700 | |
| Amounts payable within one year | 42/48 | €400,208 | €288,490 | -€111,718 | -27.9% |
| Current portion of amounts payable after more than one year | 42 | - | €28,134 | +€28,134 | |
| Financial debts | 43 | €167,109 | €0 | -€167,109 | -100.0% |
| Credit institutions | 430/8 | €167,109 | €0 | -€167,109 | -100.0% |
| Trade debts | 44 | €98,007 | €142,384 | +€44,377 | +45.3% |
| Suppliers | 440/4 | €98,007 | €142,384 | +€44,377 | +45.3% |
| Taxes, remuneration and social security | 45 | €125,367 | €116,941 | -€8,426 | -6.7% |
| Taxes | 450/3 | €61,486 | €39,473 | -€22,013 | -35.8% |
| Remuneration and social security | 454/9 | €63,881 | €77,468 | +€13,587 | +21.3% |
| Other amounts payable | 47/48 | €9,725 | €1,031 | -€8,694 | -89.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €7,120 | €0 | -€7,120 | -100.0% |
| Remuneration, social security and pensions | 62 | €657,687 | €693,456 | +€35,769 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,495 | €12,074 | +€2,579 | +27.2% |
| Other operating charges | 640/8 | €21,422 | €20,950 | -€472 | -2.2% |
| Non-recurring operating charges | 66A | €2,565 | €0 | -€2,565 | -100.0% |
| Gross operating margin | 9900 | €1,569,102 | €499,977 | -€1.1m | -68.1% |
| Operating profit (loss) | 9901 | €877,931 | -€226,504 | -€1.1m | |
| Financial income | 75/76B | €2,540 | €1,116 | -€1,424 | -56.1% |
| Recurring financial income | 75 | €2,540 | €1,116 | -€1,424 | -56.1% |
| Financial charges | 65/66B | €2,770 | €4,916 | +€2,146 | +77.5% |
| Recurring financial charges | 65 | €2,770 | €4,916 | +€2,146 | +77.5% |
| Profit (loss) for the period before taxes | 9903 | €877,702 | -€230,303 | -€1.1m | |
| Income taxes | 67/77 | €225,215 | €0 | -€225,215 | -100.0% |
| Profit (loss) for the period | 9904 | €652,487 | -€230,303 | -€882,790 | |
| Profit (loss) for the period to be appropriated | 9905 | €652,487 | -€230,303 | -€882,790 |
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 8 October 2026 via checked.be.