VEGENT: 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.
What changed
VEGENT
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€196,462
2024 · €165,962+€30,499
Equity
€4.6m
2024 · €4.6m+€38,962
Cash
€27,230
2024 · €26,400+€830
Balance sheet total
€7.9m
2024 · €8.0m-€98,234
Largest movements
Assets
- Tangible fixed assets -€114,592
down €114,592 (-3.1%), from €3.7m to €3.5m
Equity and liabilities
- Debts after one year -€177,661
down €177,661 (-7.5%), from €2.4m to €2.2m
- Profit (loss) carried forward +€115,650
up €115,650 (+5.4%), from €2.1m to €2.2m
Income statement
No income-statement line moved by more than 1% of the activity.
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.
Result 2024
€165,962
Staff costs
-€5,124
Other operating charges
-€17,636
Other operating items
+€66,675
Financial income
-€18,232
Financial charges
+€4,793
Taxes
+€22
Result 2025
€196,462
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.
From operations
+€331,742
Investment
€0
Financing
-€330,912
Cash 2024
€26,400
From operations (derived)
+€331,742
Net result for the year
+€196,462
Depreciation
+€114,592
Receivables within one year
-€35,291
Deferred charges and accrued income
+€19,763
Provisions
-€25,563
Trade debts
-€7,881
Tax, wage and social debts
+€5,113
Other debts
+€47,555
Accrued charges and deferred income
+€16,993
Financing
-€330,912
Debts after one year
-€177,661
Current portion of long-term debt
+€4,249
Contributions, distributions and other
-€157,500
Cash 2025
€27,230
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,959,183 | €7,860,950 | -€98,234 | -1.2% |
| Fixed assets | 21/28 | €3,887,262 | €3,772,670 | -€114,592 | -2.9% |
| Tangible fixed assets | 22/27 | €3,650,747 | €3,536,155 | -€114,592 | -3.1% |
| Land and buildings | 22 | €3,650,747 | €3,536,155 | -€114,592 | -3.1% |
| Financial fixed assets | 28 | €236,515 | €236,515 | = | 0.0% |
| Affiliated companies | 280/1 | €236,515 | €236,515 | = | 0.0% |
| Participating interests | 280 | €236,515 | €236,515 | = | 0.0% |
| Current assets | 29/58 | €4,071,921 | €4,088,280 | +€16,358 | +0.4% |
| Amounts receivable after more than one year | 29 | €3,511,308 | €3,511,308 | = | 0.0% |
| Other amounts receivable | 291 | €3,511,308 | €3,511,308 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €474,406 | €509,696 | +€35,291 | +7.4% |
| Trade receivables | 40 | €5,618 | €4,142 | -€1,476 | -26.3% |
| Other amounts receivable | 41 | €468,787 | €505,554 | +€36,767 | +7.8% |
| Cash at bank and in hand | 54/58 | €26,400 | €27,230 | +€830 | +3.1% |
| Deferred charges and accrued income | 490/1 | €59,808 | €40,046 | -€19,763 | -33.0% |
| Total equity and liabilities | 10/49 | €7,959,183 | €7,860,950 | -€98,234 | -1.2% |
| Equity | 10/15 | €4,596,282 | €4,635,243 | +€38,962 | +0.8% |
| Contributions | 10/11 | €94,908 | €94,908 | = | 0.0% |
| Capital | 10 | €94,908 | €94,908 | = | 0.0% |
| Issued capital | 100 | €94,908 | €94,908 | = | 0.0% |
| Reserves | 13 | €2,370,464 | €2,293,775 | -€76,689 | -3.2% |
| Non-distributable reserves | 130/1 | €9,785 | €9,785 | = | 0.0% |
| Legal reserve | 130 | €9,491 | €9,491 | = | 0.0% |
| Other | 1319 | €294 | €294 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,936,395 | €1,859,706 | -€76,689 | -4.0% |
| Distributable reserves | 133 | €424,285 | €424,285 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,130,910 | €2,246,560 | +€115,650 | +5.4% |
| Provisions and deferred taxes | 16 | €645,465 | €619,902 | -€25,563 | -4.0% |
| Deferred taxes | 168 | €645,465 | €619,902 | -€25,563 | -4.0% |
| Amounts payable | 17/49 | €2,717,437 | €2,605,804 | -€111,633 | -4.1% |
| Amounts payable after more than one year | 17 | €2,365,870 | €2,188,208 | -€177,661 | -7.5% |
| Financial debts | 170/4 | €2,365,870 | €2,188,208 | -€177,661 | -7.5% |
| Credit institutions | 173 | €2,365,870 | €2,188,208 | -€177,661 | -7.5% |
| Amounts payable within one year | 42/48 | €351,567 | €400,603 | +€49,036 | +13.9% |
| Current portion of amounts payable after more than one year | 42 | €173,412 | €177,661 | +€4,249 | +2.5% |
| Trade debts | 44 | €9,256 | €1,376 | -€7,881 | -85.1% |
| Suppliers | 440/4 | €9,256 | €1,376 | -€7,881 | -85.1% |
| Taxes, remuneration and social security | 45 | €20,143 | €25,256 | +€5,113 | +25.4% |
| Taxes | 450/3 | €7,540 | €10,700 | +€3,161 | +41.9% |
| Remuneration and social security | 454/9 | €12,604 | €14,556 | +€1,952 | +15.5% |
| Other amounts payable | 47/48 | €148,755 | €196,310 | +€47,555 | +32.0% |
| Accrued charges and deferred income | 492/3 | - | €16,993 | +€16,993 | |
| Operating income | 70/76A | €162,079 | €235,684 | +€73,605 | +45.4% |
| Other operating income | 74 | €162,079 | €235,684 | +€73,605 | +45.4% |
| Operating charges | 60/66A | €323,070 | €352,759 | +€29,689 | +9.2% |
| Services and other goods | 61 | €101,148 | €108,078 | +€6,930 | +6.9% |
| Remuneration, social security and pensions | 62 | €91,351 | €96,475 | +€5,124 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,592 | €114,592 | = | 0.0% |
| Other operating charges | 640/8 | €15,978 | €33,614 | +€17,636 | +110.4% |
| Operating profit (loss) | 9901 | -€160,991 | -€117,075 | +€43,916 | +27.3% |
| Financial income | 75/76B | €366,123 | €347,891 | -€18,232 | -5.0% |
| Recurring financial income | 75 | €366,123 | €347,891 | -€18,232 | -5.0% |
| Income from financial fixed assets | 750 | €175,016 | €175,044 | +€28 | 0.0% |
| Income from current assets | 751 | €191,107 | €172,793 | -€18,314 | -9.6% |
| Other financial income | 752/9 | - | €54 | +€54 | |
| Financial charges | 65/66B | €64,520 | €59,726 | -€4,793 | -7.4% |
| Recurring financial charges | 65 | €64,520 | €59,726 | -€4,793 | -7.4% |
| Debt charges | 650 | €63,935 | €59,611 | -€4,324 | -6.8% |
| Other financial charges | 652/9 | €584 | €115 | -€469 | -80.2% |
| Profit (loss) for the period before taxes | 9903 | €140,612 | €171,089 | +€30,477 | +21.7% |
| Transfer from deferred taxes | 780 | €25,563 | €25,563 | = | 0.0% |
| Income taxes | 67/77 | €213 | €191 | -€22 | -10.4% |
| Taxes | 670/3 | €213 | €191 | -€22 | -10.4% |
| Profit (loss) for the period | 9904 | €165,962 | €196,462 | +€30,499 | +18.4% |
| Transfer from tax-exempt reserves | 789 | €76,689 | €76,689 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €242,651 | €273,150 | +€30,499 | +12.6% |
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.