VEGRAM - BEHEER: what changed
Two financial 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.
VEGRAM - BEHEER
Largest movements
- Current investments -€270,202
down €270,202 (-24.0%), from €1.1m to €856,632
- Cash +€42,995
up €42,995 (+191%), from €22,542 to €65,537
mainly Current investments (+€270,202) and Net result for the year (+€55,527)
- Tangible fixed assets -€33,871
down €33,871 (-7.1%), from €476,715 to €442,844
- Other debts -€320,185
down €320,185 (-96.4%), from €332,110 to €11,925
- Reserves +€55,527
up €55,527 (+5.0%), from €1.1m to €1.2m
of which Distributable reserves: +€55,527
- Financial income -€894,333
down €894,333 (-98.1%), from €911,664 to €17,331
- Gross operating margin +€49,460
up €49,460 (+198%), from €24,950 to €74,410
- Depreciation +€31,005
up €31,005 (+1,082%), from €2,866 to €33,871
- Financial charges -€27,018
down €27,018, from €11,039 to -€15,979
- Taxes +€7,528
up €7,528 (+273%), from €2,757 to €10,285
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.
Derived cash bridge
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 | €2,059,157 | €1,794,079 | -€265,078 | -12.9% |
| Fixed assets | 21/28 | €905,039 | €871,168 | -€33,871 | -3.7% |
| Tangible fixed assets | 22/27 | €476,715 | €442,844 | -€33,871 | -7.1% |
| Land and buildings | 22 | €476,715 | €442,844 | -€33,871 | -7.1% |
| Financial fixed assets | 28 | €428,324 | €428,324 | = | 0.0% |
| Current assets | 29/58 | €1,154,118 | €922,911 | -€231,207 | -20.0% |
| Amounts receivable within one year | 40/41 | €742 | €742 | = | 0.0% |
| Other amounts receivable | 41 | €742 | €742 | = | 0.0% |
| Current investments | 50/53 | €1,126,835 | €856,632 | -€270,202 | -24.0% |
| Cash at bank and in hand | 54/58 | €22,542 | €65,537 | +€42,995 | +191% |
| Deferred charges and accrued income | 490/1 | €4,000 | €0 | -€4,000 | -100% |
| Total equity and liabilities | 10/49 | €2,059,157 | €1,794,079 | -€265,078 | -12.9% |
| Equity | 10/15 | €1,711,736 | €1,767,264 | +€55,527 | +3.2% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Capital | 10 | €600,000 | €600,000 | = | 0.0% |
| Issued capital | 100 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €1,111,736 | €1,167,264 | +€55,527 | +5.0% |
| Non-distributable reserves | 130/1 | €60,000 | €60,000 | = | 0.0% |
| Legal reserve | 130 | €60,000 | €60,000 | = | 0.0% |
| Distributable reserves | 133 | €1,051,736 | €1,107,264 | +€55,527 | +5.3% |
| Amounts payable | 17/49 | €347,421 | €26,815 | -€320,606 | -92.3% |
| Amounts payable within one year | 42/48 | €332,690 | €17,011 | -€315,679 | -94.9% |
| Taxes, remuneration and social security | 45 | €580 | €5,086 | +€4,505 | +776% |
| Taxes | 450/3 | €580 | €5,086 | +€4,505 | +776% |
| Other amounts payable | 47/48 | €332,110 | €11,925 | -€320,185 | -96.4% |
| Accrued charges and deferred income | 492/3 | €14,730 | €9,804 | -€4,926 | -33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,866 | €33,871 | +€31,005 | +1,082% |
| Other operating charges | 640/8 | €7,822 | €8,036 | +€214 | +2.7% |
| Gross operating margin | 9900 | €24,950 | €74,410 | +€49,460 | +198% |
| Operating profit (loss) | 9901 | €14,262 | €32,502 | +€18,240 | +128% |
| Financial income | 75/76B | €911,664 | €17,331 | -€894,333 | -98.1% |
| Recurring financial income | 75 | €911,664 | €17,331 | -€894,333 | -98.1% |
| Financial charges | 65/66B | €11,039 | -€15,979 | -€27,018 | |
| Recurring financial charges | 65 | €11,039 | -€15,979 | -€27,018 | |
| Profit (loss) for the period before taxes | 9903 | €914,887 | €65,813 | -€849,075 | -92.8% |
| Income taxes | 67/77 | €2,757 | €10,285 | +€7,528 | +273% |
| Profit (loss) for the period | 9904 | €912,130 | €55,527 | -€856,603 | -93.9% |
| Profit (loss) for the period to be appropriated | 9905 | €912,130 | €55,527 | -€856,603 | -93.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.