VEKA MANAGEMENT: 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.
VEKA MANAGEMENT
Largest movements
- Cash -€102,505
down €102,505 (-97.6%), from €105,010 to €2,505
mainly Contributions, distributions and other (-€80,000) and Other debts (-€50,000)
- Tangible fixed assets -€10,290
down €10,290 (-26.9%), from €38,283 to €27,993
- Receivables within one year +€1,634
up €1,634 (+13.7%), from €11,919 to €13,552
- Other debts -€50,000
no longer reported in 2025 (was €50,000)
- Profit (loss) carried forward -€45,495
down €45,495 (-59.4%), from €76,598 to €31,103
- Tax, wage and social debts -€16,671
down €16,671 (-70.6%), from €23,613 to €6,942
- Gross operating margin -€29,623
down €29,623 (-32.5%), from €91,279 to €61,656
- Taxes -€1,324
down €1,324 (-8.1%), from €16,367 to €15,043
- Other operating charges +€950
up €950 (+115%), from €829 to €1,779
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 | €155,211 | €44,050 | -€111,161 | -71.6% |
| Fixed assets | 21/28 | €38,283 | €27,993 | -€10,290 | -26.9% |
| Tangible fixed assets | 22/27 | €38,283 | €27,993 | -€10,290 | -26.9% |
| Furniture and vehicles | 24 | €38,283 | €27,993 | -€10,290 | -26.9% |
| Current assets | 29/58 | €116,928 | €16,057 | -€100,871 | -86.3% |
| Amounts receivable within one year | 40/41 | €11,919 | €13,552 | +€1,634 | +13.7% |
| Trade receivables | 40 | €11,919 | €13,552 | +€1,634 | +13.7% |
| Cash at bank and in hand | 54/58 | €105,010 | €2,505 | -€102,505 | -97.6% |
| Total equity and liabilities | 10/49 | €155,211 | €44,050 | -€111,161 | -71.6% |
| Equity | 10/15 | €81,598 | €36,103 | -€45,495 | -55.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,598 | €31,103 | -€45,495 | -59.4% |
| Amounts payable | 17/49 | €73,613 | €7,947 | -€65,666 | -89.2% |
| Amounts payable within one year | 42/48 | €73,613 | €7,947 | -€65,666 | -89.2% |
| Trade debts | 44 | - | €1,006 | +€1,006 | |
| Suppliers | 440/4 | - | €1,006 | +€1,006 | |
| Taxes, remuneration and social security | 45 | €23,613 | €6,942 | -€16,671 | -70.6% |
| Taxes | 450/3 | €23,613 | €6,942 | -€16,671 | -70.6% |
| Other amounts payable | 47/48 | €50,000 | - | -€50,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,290 | €10,290 | = | 0.0% |
| Other operating charges | 640/8 | €829 | €1,779 | +€950 | +115% |
| Gross operating margin | 9900 | €91,279 | €61,656 | -€29,623 | -32.5% |
| Operating profit (loss) | 9901 | €80,161 | €49,588 | -€30,574 | -38.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €39 | €40 | +€1 | +3.5% |
| Recurring financial charges | 65 | €39 | €40 | +€1 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €80,122 | €49,547 | -€30,575 | -38.2% |
| Income taxes | 67/77 | €16,367 | €15,043 | -€1,324 | -8.1% |
| Profit (loss) for the period | 9904 | €63,755 | €34,505 | -€29,250 | -45.9% |
| Profit (loss) for the period to be appropriated | 9905 | €63,755 | €34,505 | -€29,250 | -45.9% |
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 27 October 2026 via checked.be.