VEJO: 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.
VEJO
Largest movements
- Cash -€162,079
down €162,079 (-25.5%), from €636,586 to €474,507
mainly Other debts (-€161,314) and Debts after one year (-€32,281)
- Tangible fixed assets -€20,881
down €20,881 (-23.7%), from €88,167 to €67,286
of which Furniture and vehicles: -€12,463
- Other debts -€161,314
down €161,314 (-99.9%), from €161,547 to €233
- Debts after one year -€32,281
down €32,281 (-14.3%), from €225,965 to €193,684
- Reserves +€25,207
up €25,207 (+183.3%), from €13,750 to €38,957
of which Distributable reserves: +€25,207
- Accrued charges and deferred income -€21,858
down €21,858 (-8.5%), from €257,339 to €235,481
- Gross operating margin +€14,501
up €14,501 (+28.8%), from €50,373 to €64,874
- Depreciation +€6,829
up €6,829 (+46.6%), from €14,656 to €21,485
- Taxes +€2,525
up €2,525 (+2010.4%), from €126 to €2,651
- Financial charges -€1,050
down €1,050 (-8.8%), from €11,927 to €10,876
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 | €733,253 | €547,371 | -€185,882 | -25.4% |
| Fixed assets | 21/28 | €88,167 | €67,286 | -€20,881 | -23.7% |
| Tangible fixed assets | 22/27 | €88,167 | €67,286 | -€20,881 | -23.7% |
| Plant, machinery and equipment | 23 | - | €795 | +€795 | |
| Furniture and vehicles | 24 | €56,342 | €43,879 | -€12,463 | -22.1% |
| Other tangible fixed assets | 26 | €31,825 | €22,612 | -€9,212 | -28.9% |
| Current assets | 29/58 | €645,086 | €480,085 | -€165,001 | -25.6% |
| Amounts receivable within one year | 40/41 | €8,236 | €5,484 | -€2,752 | -33.4% |
| Trade receivables | 40 | €7,164 | €4,813 | -€2,352 | -32.8% |
| Other amounts receivable | 41 | €1,071 | €671 | -€400 | -37.4% |
| Cash at bank and in hand | 54/58 | €636,586 | €474,507 | -€162,079 | -25.5% |
| Deferred charges and accrued income | 490/1 | €264 | €94 | -€170 | -64.5% |
| Total equity and liabilities | 10/49 | €733,253 | €547,371 | -€185,882 | -25.4% |
| Equity | 10/15 | €54,136 | €82,041 | +€27,905 | +51.5% |
| Contributions | 10/11 | €43,084 | €43,084 | = | 0.0% |
| Reserves | 13 | €13,750 | €38,957 | +€25,207 | +183.3% |
| Non-distributable reserves | 130/1 | €13,750 | €13,750 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,750 | €13,750 | = | 0.0% |
| Distributable reserves | 133 | €0 | €25,207 | +€25,207 | |
| Profit (loss) carried forward | 14 | -€2,698 | €0 | +€2,698 | |
| Amounts payable | 17/49 | €679,117 | €465,330 | -€213,787 | -31.5% |
| Amounts payable after more than one year | 17 | €225,965 | €193,684 | -€32,281 | -14.3% |
| Financial debts | 170/4 | €225,965 | €193,684 | -€32,281 | -14.3% |
| Amounts payable within one year | 42/48 | €195,813 | €36,164 | -€159,649 | -81.5% |
| Current portion of amounts payable after more than one year | 42 | €32,281 | €32,281 | = | 0.0% |
| Trade debts | 44 | €835 | €374 | -€460 | -55.2% |
| Suppliers | 440/4 | €835 | €374 | -€460 | -55.2% |
| Taxes, remuneration and social security | 45 | €1,150 | €3,276 | +€2,126 | +184.9% |
| Taxes | 450/3 | €150 | €2,276 | +€2,126 | +1417.2% |
| Remuneration and social security | 454/9 | €1,000 | €1,000 | = | 0.0% |
| Other amounts payable | 47/48 | €161,547 | €233 | -€161,314 | -99.9% |
| Accrued charges and deferred income | 492/3 | €257,339 | €235,481 | -€21,858 | -8.5% |
| Non-recurring operating income | 76A | - | €2,067 | +€2,067 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,656 | €21,485 | +€6,829 | +46.6% |
| Other operating charges | 640/8 | €2,848 | €3,339 | +€490 | +17.2% |
| Non-recurring operating charges | 66A | €443 | €367 | -€76 | -17.1% |
| Gross operating margin | 9900 | €50,373 | €64,874 | +€14,501 | +28.8% |
| Operating profit (loss) | 9901 | €32,426 | €39,683 | +€7,257 | +22.4% |
| Financial income | 75/76B | €2,030 | €1,750 | -€280 | -13.8% |
| Recurring financial income | 75 | €2,030 | €1,750 | -€280 | -13.8% |
| Financial charges | 65/66B | €11,927 | €10,876 | -€1,050 | -8.8% |
| Recurring financial charges | 65 | €11,927 | €10,876 | -€1,050 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €22,529 | €30,556 | +€8,027 | +35.6% |
| Income taxes | 67/77 | €126 | €2,651 | +€2,525 | +2010.4% |
| Profit (loss) for the period | 9904 | €22,403 | €27,905 | +€5,502 | +24.6% |
| Profit (loss) for the period to be appropriated | 9905 | €22,403 | €27,905 | +€5,502 | +24.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.