VEFIN: 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.
VEFIN
Largest movements
- Cash +€19,064
up €19,064 (+136.2%), from €13,999 to €33,064
mainly Net result for the year (+€17,060) and Tax, wage and social debts (+€2,900)
- Reserves +€17,060
up €17,060 (+7.9%), from €214,682 to €231,743
of which Distributable reserves: +€17,060
- Gross operating margin +€10,071
up €10,071 (+72.3%), from €13,936 to €24,007
- Taxes +€2,116
up €2,116 (+58.1%), from €3,642 to €5,758
- Financial income +€717
up €717 (+245.8%), from €292 to €1,009
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 | €323,551 | €344,425 | +€20,874 | +6.5% |
| Current assets | 29/58 | €323,551 | €344,425 | +€20,874 | +6.5% |
| Amounts receivable within one year | 40/41 | €309,260 | €310,528 | +€1,268 | +0.4% |
| Trade receivables | 40 | €7,260 | €7,986 | +€726 | +10.0% |
| Other amounts receivable | 41 | €302,000 | €302,542 | +€542 | +0.2% |
| Cash at bank and in hand | 54/58 | €13,999 | €33,064 | +€19,064 | +136.2% |
| Deferred charges and accrued income | 490/1 | €292 | €834 | +€542 | +185.8% |
| Total equity and liabilities | 10/49 | €323,551 | €344,425 | +€20,874 | +6.5% |
| Equity | 10/15 | €278,432 | €295,493 | +€17,060 | +6.1% |
| Contributions | 10/11 | €63,750 | €63,750 | = | 0.0% |
| Capital | 10 | €63,750 | €63,750 | = | 0.0% |
| Issued capital | 100 | €63,750 | €63,750 | = | 0.0% |
| Reserves | 13 | €214,682 | €231,743 | +€17,060 | +7.9% |
| Non-distributable reserves | 130/1 | €6,375 | €6,375 | = | 0.0% |
| Legal reserve | 130 | €6,375 | €6,375 | = | 0.0% |
| Distributable reserves | 133 | €208,307 | €225,368 | +€17,060 | +8.2% |
| Amounts payable | 17/49 | €45,119 | €48,932 | +€3,813 | +8.5% |
| Amounts payable within one year | 42/48 | €25,418 | €29,315 | +€3,897 | +15.3% |
| Trade debts | 44 | €322 | €0 | -€322 | -100.0% |
| Suppliers | 440/4 | €322 | €0 | -€322 | -100.0% |
| Taxes, remuneration and social security | 45 | €1,553 | €4,453 | +€2,900 | +186.8% |
| Taxes | 450/3 | €1,553 | €4,453 | +€2,900 | +186.8% |
| Other amounts payable | 47/48 | €23,543 | €24,862 | +€1,319 | +5.6% |
| Accrued charges and deferred income | 492/3 | €19,701 | €19,617 | -€84 | -0.4% |
| Other operating charges | 640/8 | €387 | €396 | +€9 | +2.4% |
| Gross operating margin | 9900 | €13,936 | €24,007 | +€10,071 | +72.3% |
| Operating profit (loss) | 9901 | €13,549 | €23,612 | +€10,062 | +74.3% |
| Financial income | 75/76B | €292 | €1,009 | +€717 | +245.8% |
| Recurring financial income | 75 | €292 | €1,009 | +€717 | +245.8% |
| Financial charges | 65/66B | €1,750 | €1,802 | +€52 | +3.0% |
| Recurring financial charges | 65 | €1,750 | €1,802 | +€52 | +3.0% |
| Profit (loss) for the period before taxes | 9903 | €12,091 | €22,819 | +€10,727 | +88.7% |
| Income taxes | 67/77 | €3,642 | €5,758 | +€2,116 | +58.1% |
| Profit (loss) for the period | 9904 | €8,449 | €17,060 | +€8,612 | +101.9% |
| Profit (loss) for the period to be appropriated | 9905 | €8,449 | €17,060 | +€8,612 | +101.9% |
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 5 October 2026 via checked.be.