VEHAFARM: 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.
What changed
VEHAFARM
NACE 01.479, Crop and animal production, hunting and related service activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€492,927
2024 · €249,522+€243,405
Equity
€2.1m
2024 · €1.6m+€492,927
Cash
€610,823
2024 · €381,573+€229,251
Balance sheet total
€5.7m
2024 · €5.5m+€255,774
Largest movements
Assets
- Cash +€229,251
up €229,251 (+60.1%), from €381,573 to €610,823
mainly Net result for the year (+€492,927) and Depreciation (+€250,975)
- Tangible fixed assets +€207,747
up €207,747 (+4.8%), from €4.3m to €4.5m
of which Plant, machinery and equipment: +€175,802
- Receivables within one year -€105,481
down €105,481 (-43.3%), from €243,632 to €138,150
of which Trade receivables: -€105,163
- Stocks and contracts -€102,976
down €102,976 (-28.7%), from €358,788 to €255,812
Equity and liabilities
- Profit (loss) carried forward +€519,610
up €519,610 (+73.1%), from €710,533 to €1.2m
- Debts after one year -€272,914
down €272,914 (-10.7%), from €2.5m to €2.3m
Income statement
- Gross operating margin +€398,821
up €398,821 (+56.5%), from €705,915 to €1.1m
- Taxes +€96,097
up €96,097 (+132%), from €73,039 to €169,136
- Depreciation +€43,990
up €43,990 (+21.3%), from €206,985 to €250,975
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
€249,522
Gross operating margin
+€398,821
Staff costs
-€4,660
Depreciation
-€43,990
Other operating charges
-€1,256
Financial income
+€725
Financial charges
-€10,337
Taxes
-€96,097
Deferred taxes and other
+€201
Result 2025
€492,927
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€968,711
Investment
-€457,103
Financing
-€282,358
Cash 2024
€381,573
From operations (derived)
+€968,711
Net result for the year
+€492,927
Depreciation
+€250,975
Stocks and contracts
+€102,976
Receivables within one year
+€105,481
Deferred charges and accrued income
-€28,853
Provisions
-€6,671
Trade debts
+€23,404
Tax, wage and social debts
+€42,208
Other debts
+€1,734
Accrued charges and deferred income
-€15,471
Investment (derived)
-€457,103
Investment in fixed assets (net)
-€457,103
Financing
-€282,358
Debts after one year
-€272,914
Current portion of long-term debt
-€9,444
Cash 2025
€610,823
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,463,337 | €5,719,110 | +€255,774 | +4.7% |
| Fixed assets | 21/28 | €4,470,999 | €4,677,126 | +€206,127 | +4.6% |
| Intangible fixed assets | 21 | €4,832 | €3,212 | -€1,620 | -33.5% |
| Tangible fixed assets | 22/27 | €4,341,272 | €4,549,019 | +€207,747 | +4.8% |
| Land and buildings | 22 | €4,144,253 | €4,131,287 | -€12,966 | -0.3% |
| Plant, machinery and equipment | 23 | €151,459 | €327,261 | +€175,802 | +116% |
| Furniture and vehicles | 24 | €45,560 | €90,472 | +€44,912 | +98.6% |
| Financial fixed assets | 28 | €124,896 | €124,896 | = | 0.0% |
| Current assets | 29/58 | €992,338 | €1,041,984 | +€49,646 | +5.0% |
| Stocks and contracts in progress | 3 | €358,788 | €255,812 | -€102,976 | -28.7% |
| Stocks | 30/36 | €358,788 | €255,812 | -€102,976 | -28.7% |
| Amounts receivable within one year | 40/41 | €243,632 | €138,150 | -€105,481 | -43.3% |
| Trade receivables | 40 | €243,314 | €138,150 | -€105,163 | -43.2% |
| Other amounts receivable | 41 | €318 | €0 | -€318 | -100% |
| Cash at bank and in hand | 54/58 | €381,573 | €610,823 | +€229,251 | +60.1% |
| Deferred charges and accrued income | 490/1 | €8,345 | €37,198 | +€28,853 | +346% |
| Total equity and liabilities | 10/49 | €5,463,337 | €5,719,110 | +€255,774 | +4.7% |
| Equity | 10/15 | €1,618,349 | €2,111,276 | +€492,927 | +30.5% |
| Contributions | 10/11 | €524,500 | €524,500 | = | 0.0% |
| Capital | 10 | €524,500 | €524,500 | = | 0.0% |
| Issued capital | 100 | €524,500 | €524,500 | = | 0.0% |
| Reserves | 13 | €383,316 | €356,633 | -€26,683 | -7.0% |
| Non-distributable reserves | 130/1 | €52,450 | €52,450 | = | 0.0% |
| Legal reserve | 130 | €52,450 | €52,450 | = | 0.0% |
| Tax-exempt reserves | 132 | €64,515 | €37,832 | -€26,683 | -41.4% |
| Distributable reserves | 133 | €266,351 | €266,351 | = | 0.0% |
| Profit (loss) carried forward | 14 | €710,533 | €1,230,143 | +€519,610 | +73.1% |
| Provisions and deferred taxes | 16 | €16,129 | €9,458 | -€6,671 | -41.4% |
| Deferred taxes | 168 | €16,129 | €9,458 | -€6,671 | -41.4% |
| Amounts payable | 17/49 | €3,828,860 | €3,598,377 | -€230,483 | -6.0% |
| Amounts payable after more than one year | 17 | €2,548,815 | €2,275,901 | -€272,914 | -10.7% |
| Financial debts | 170/4 | €2,548,815 | €2,275,901 | -€272,914 | -10.7% |
| Amounts payable within one year | 42/48 | €1,226,902 | €1,284,803 | +€57,901 | +4.7% |
| Current portion of amounts payable after more than one year | 42 | €269,858 | €260,414 | -€9,444 | -3.5% |
| Trade debts | 44 | €365,172 | €388,576 | +€23,404 | +6.4% |
| Suppliers | 440/4 | €365,172 | €388,576 | +€23,404 | +6.4% |
| Taxes, remuneration and social security | 45 | €97,560 | €139,767 | +€42,208 | +43.3% |
| Taxes | 450/3 | €86,742 | €125,396 | +€38,654 | +44.6% |
| Remuneration and social security | 454/9 | €10,818 | €14,371 | +€3,553 | +32.8% |
| Other amounts payable | 47/48 | €494,311 | €496,045 | +€1,734 | +0.4% |
| Accrued charges and deferred income | 492/3 | €53,144 | €37,673 | -€15,471 | -29.1% |
| Non-recurring operating income | 76A | - | €22,711 | +€22,711 | |
| Remuneration, social security and pensions | 62 | €79,042 | €83,702 | +€4,660 | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €206,985 | €250,975 | +€43,990 | +21.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €11,610 | €12,865 | +€1,256 | +10.8% |
| Gross operating margin | 9900 | €705,915 | €1,104,736 | +€398,821 | +56.5% |
| Operating profit (loss) | 9901 | €408,279 | €757,194 | +€348,915 | +85.5% |
| Financial income | 75/76B | €256 | €981 | +€725 | +283% |
| Recurring financial income | 75 | €256 | €981 | +€725 | +283% |
| Financial charges | 65/66B | €92,444 | €102,782 | +€10,337 | +11.2% |
| Recurring financial charges | 65 | €92,444 | €102,782 | +€10,337 | +11.2% |
| Profit (loss) for the period before taxes | 9903 | €316,091 | €655,393 | +€339,302 | +107% |
| Transfer from deferred taxes | 780 | €6,470 | €6,671 | +€201 | +3.1% |
| Income taxes | 67/77 | €73,039 | €169,136 | +€96,097 | +132% |
| Profit (loss) for the period | 9904 | €249,522 | €492,927 | +€243,405 | +97.5% |
| Transfer from tax-exempt reserves | 789 | €25,880 | €26,683 | +€804 | +3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €275,402 | €519,610 | +€244,209 | +88.7% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.