VEJ: what changed
What changed
VEJ
NACE 43.320, Joinery installation
filed annual accounts (NBB)
Net result for the year
-€14,395
2024 · -€22,111+€7,716
Equity
€174,008
2024 · €188,403-€14,395
Cash
€15,505
2024 · €5,121+€10,385
Balance sheet total
€434,514
2024 · €416,591+€17,923
Largest movements
Assets
- Stocks and contracts +€16,023
up €16,023 (+62.2%), from €25,765 to €41,788
of which Stocks: +€15,123
- Cash +€10,385
up €10,385 (+203%), from €5,121 to €15,505
mainly Depreciation (+€44,084) and Debts after one year (+€28,066)
- Tangible fixed assets -€7,684
down €7,684 (-2.3%), from €337,673 to €329,988
of which Land and buildings: -€19,934
Equity and liabilities
- Debts after one year +€28,066
up €28,066 (+15.7%), from €179,163 to €207,229
of which Other amounts payable: +€47,000
- Profit (loss) carried forward -€14,395
down €14,395 (-65.1%), from -€22,111 to -€36,506
Income statement
- Gross operating margin +€9,922
up €9,922 (+40.7%), from €24,353 to €34,275
- Depreciation +€1,607
up €1,607 (+3.8%), from €42,477 to €44,084
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€22,111
Gross operating margin
+€9,922
Depreciation
-€1,607
Other operating charges
-€60
Other operating items
-€500
Financial income
-€23
Financial charges
-€15
Taxes
-€1
Result 2025
-€14,395
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€18,322
Investment
-€36,400
Financing
+€28,462
Cash 2024
€5,121
From operations (derived)
+€18,322
Net result for the year
-€14,395
Depreciation
+€44,084
Stocks and contracts
-€16,023
Receivables within one year
+€862
Deferred charges and accrued income
-€61
Trade debts
-€2,679
Tax, wage and social debts
+€980
Other debts
+€2,281
Accrued charges and deferred income
+€3,274
Investment (derived)
-€36,400
Investment in fixed assets (net)
-€36,400
Financing
+€28,462
Debts after one year
+€28,066
Current portion of long-term debt
+€396
Cash 2025
€15,505
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €416,591 | €434,514 | +€17,923 | +4.3% |
| Fixed assets | 21/28 | €337,673 | €329,988 | -€7,684 | -2.3% |
| Tangible fixed assets | 22/27 | €337,673 | €329,988 | -€7,684 | -2.3% |
| Land and buildings | 22 | €277,189 | €257,255 | -€19,934 | -7.2% |
| Plant, machinery and equipment | 23 | €31,266 | €52,000 | +€20,734 | +66.3% |
| Furniture and vehicles | 24 | €29,217 | €20,733 | -€8,484 | -29.0% |
| Current assets | 29/58 | €78,918 | €104,525 | +€25,607 | +32.4% |
| Stocks and contracts in progress | 3 | €25,765 | €41,788 | +€16,023 | +62.2% |
| Stocks | 30/36 | €16,165 | €31,288 | +€15,123 | +93.6% |
| Contracts in progress | 37 | €9,600 | €10,500 | +€900 | +9.4% |
| Amounts receivable within one year | 40/41 | €46,576 | €45,713 | -€862 | -1.9% |
| Trade receivables | 40 | €41,231 | €45,662 | +€4,431 | +10.7% |
| Other amounts receivable | 41 | €5,344 | €52 | -€5,293 | -99.0% |
| Cash at bank and in hand | 54/58 | €5,121 | €15,505 | +€10,385 | +203% |
| Deferred charges and accrued income | 490/1 | €1,457 | €1,518 | +€61 | +4.2% |
| Total equity and liabilities | 10/49 | €416,591 | €434,514 | +€17,923 | +4.3% |
| Equity | 10/15 | €188,403 | €174,008 | -€14,395 | -7.6% |
| Contributions | 10/11 | €118,592 | €118,592 | = | 0.0% |
| Reserves | 13 | €91,922 | €91,922 | = | 0.0% |
| Distributable reserves | 133 | €91,922 | €91,922 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,111 | -€36,506 | -€14,395 | -65.1% |
| Amounts payable | 17/49 | €228,187 | €260,505 | +€32,318 | +14.2% |
| Amounts payable after more than one year | 17 | €179,163 | €207,229 | +€28,066 | +15.7% |
| Financial debts | 170/4 | €154,163 | €135,229 | -€18,934 | -12.3% |
| Other amounts payable | 178/9 | €25,000 | €72,000 | +€47,000 | +188% |
| Amounts payable within one year | 42/48 | €48,747 | €49,726 | +€978 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €18,538 | €18,934 | +€396 | +2.1% |
| Trade debts | 44 | €23,379 | €20,700 | -€2,679 | -11.5% |
| Suppliers | 440/4 | €23,379 | €20,700 | -€2,679 | -11.5% |
| Taxes, remuneration and social security | 45 | €1,340 | €2,320 | +€980 | +73.2% |
| Taxes | 450/3 | €1,340 | €2,320 | +€980 | +73.2% |
| Other amounts payable | 47/48 | €5,491 | €7,771 | +€2,281 | +41.5% |
| Accrued charges and deferred income | 492/3 | €277 | €3,550 | +€3,274 | +1,183% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,477 | €44,084 | +€1,607 | +3.8% |
| Other operating charges | 640/8 | €187 | €247 | +€60 | +32.3% |
| Non-recurring operating charges | 66A | - | €500 | +€500 | |
| Gross operating margin | 9900 | €24,353 | €34,275 | +€9,922 | +40.7% |
| Operating profit (loss) | 9901 | -€18,310 | -€10,556 | +€7,754 | +42.3% |
| Financial income | 75/76B | €706 | €683 | -€23 | -3.2% |
| Recurring financial income | 75 | €706 | €683 | -€23 | -3.2% |
| Financial charges | 65/66B | €4,366 | €4,381 | +€15 | +0.3% |
| Recurring financial charges | 65 | €4,366 | €4,381 | +€15 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | -€21,971 | -€14,254 | +€7,717 | +35.1% |
| Income taxes | 67/77 | €140 | €141 | +€1 | +0.7% |
| Profit (loss) for the period | 9904 | -€22,111 | -€14,395 | +€7,716 | +34.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,111 | -€14,395 | +€7,716 | +34.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.