VEJO Projects: 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.
VEJO Projects
Largest movements
- Cash +€10,331
up €10,331 (+19.6%), from €52,668 to €62,999
mainly Other debts (+€77,300) and Net result for the year (+€38,296)
- Receivables within one year +€1,669
up €1,669 (+9.1%), from €18,297 to €19,966
of which Trade receivables: +€4,589
- Other debts +€77,300
up €77,300 (+6,186%), from €1,250 to €78,550
- Reserves -€50,405
no longer reported in 2025 (was €50,405)
- Tax, wage and social debts -€12,676
down €12,676 (-57.4%), from €22,088 to €9,412
- Trade debts -€2,423
down €2,423 (-70.4%), from €3,443 to €1,019
- Gross operating margin +€35,433
up €35,433 (+160%), from €22,130 to €57,564
- Taxes +€6,395
up €6,395 (+113%), from €5,647 to €12,042
- Other operating charges -€1,154
down €1,154 (-48.1%), from €2,400 to €1,246
- Depreciation +€796
up €796 (+46.2%), from €1,724 to €2,520
- Financial charges -€748
down €748 (-17.8%), from €4,208 to €3,460
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 | €80,185 | €91,981 | +€11,796 | +14.7% |
| Fixed assets | 21/28 | €9,220 | €9,016 | -€204 | -2.2% |
| Tangible fixed assets | 22/27 | €9,220 | €9,016 | -€204 | -2.2% |
| Land and buildings | 22 | €3,241 | €2,697 | -€544 | -16.8% |
| Plant, machinery and equipment | 23 | €4,593 | €4,721 | +€129 | +2.8% |
| Furniture and vehicles | 24 | €1,387 | €1,598 | +€211 | +15.2% |
| Current assets | 29/58 | €70,965 | €82,965 | +€12,000 | +16.9% |
| Amounts receivable within one year | 40/41 | €18,297 | €19,966 | +€1,669 | +9.1% |
| Trade receivables | 40 | €15,375 | €19,964 | +€4,589 | +29.8% |
| Other amounts receivable | 41 | €2,922 | €2 | -€2,920 | -99.9% |
| Cash at bank and in hand | 54/58 | €52,668 | €62,999 | +€10,331 | +19.6% |
| Total equity and liabilities | 10/49 | €80,185 | €91,981 | +€11,796 | +14.7% |
| Equity | 10/15 | €53,405 | €3,000 | -€50,405 | -94.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €50,405 | - | -€50,405 | |
| Distributable reserves | 133 | €50,405 | - | -€50,405 | |
| Amounts payable | 17/49 | €26,780 | €88,981 | +€62,201 | +232% |
| Amounts payable within one year | 42/48 | €26,780 | €88,981 | +€62,201 | +232% |
| Trade debts | 44 | €3,443 | €1,019 | -€2,423 | -70.4% |
| Suppliers | 440/4 | €3,443 | €1,019 | -€2,423 | -70.4% |
| Taxes, remuneration and social security | 45 | €22,088 | €9,412 | -€12,676 | -57.4% |
| Taxes | 450/3 | €22,088 | €9,412 | -€12,676 | -57.4% |
| Other amounts payable | 47/48 | €1,250 | €78,550 | +€77,300 | +6,186% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,724 | €2,520 | +€796 | +46.2% |
| Other operating charges | 640/8 | €2,400 | €1,246 | -€1,154 | -48.1% |
| Gross operating margin | 9900 | €22,130 | €57,564 | +€35,433 | +160% |
| Operating profit (loss) | 9901 | €18,006 | €53,797 | +€35,791 | +199% |
| Financial income | 75/76B | €21 | €1 | -€20 | -97.1% |
| Recurring financial income | 75 | €21 | €1 | -€20 | -97.1% |
| Financial charges | 65/66B | €4,208 | €3,460 | -€748 | -17.8% |
| Recurring financial charges | 65 | €4,208 | €3,460 | -€748 | -17.8% |
| Profit (loss) for the period before taxes | 9903 | €13,819 | €50,337 | +€36,518 | +264% |
| Income taxes | 67/77 | €5,647 | €12,042 | +€6,395 | +113% |
| Profit (loss) for the period | 9904 | €8,172 | €38,296 | +€30,124 | +369% |
| Profit (loss) for the period to be appropriated | 9905 | €8,172 | €38,296 | +€30,124 | +369% |
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 21 October 2026 via checked.be.