VEKI: 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.
VEKI
Largest movements
- Cash +€188,031
up €188,031 (+131.4%), from €143,054 to €331,085
mainly Current investments (+€100,000) and Net result for the year (+€70,893)
- Current investments -€100,000
down €100,000 (-66.7%), from €150,000 to €50,000
- Receivables within one year -€36,570
down €36,570 (-19.5%), from €187,487 to €150,917
of which Trade receivables: -€20,960
- Tangible fixed assets -€12,247
down €12,247 (-18.9%), from €64,817 to €52,570
of which Furniture and vehicles: -€7,923
- Reserves +€70,893
up €70,893 (+17.8%), from €399,082 to €469,976
of which Distributable reserves: +€70,893
- Other debts -€13,265
down €13,265 (-60.1%), from €22,073 to €8,808
- Debts after one year -€9,140
down €9,140 (-74.9%), from €12,210 to €3,070
- Tax, wage and social debts -€6,217
down €6,217 (-59.9%), from €10,377 to €4,160
- Gross operating margin -€10,103
down €10,103 (-7.6%), from €133,077 to €122,973
- Other operating charges -€4,999
down €4,999 (-49.5%), from €10,091 to €5,092
- Taxes +€2,295
up €2,295 (+6.8%), from €33,595 to €35,890
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 | €545,407 | €584,622 | +€39,215 | +7.2% |
| Fixed assets | 21/28 | €64,866 | €52,619 | -€12,247 | -18.9% |
| Tangible fixed assets | 22/27 | €64,817 | €52,570 | -€12,247 | -18.9% |
| Land and buildings | 22 | €46,660 | €43,110 | -€3,550 | -7.6% |
| Plant, machinery and equipment | 23 | €297 | €0 | -€297 | -100.0% |
| Furniture and vehicles | 24 | €17,383 | €9,460 | -€7,923 | -45.6% |
| Other tangible fixed assets | 26 | €478 | €0 | -€478 | -100.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €480,541 | €532,002 | +€51,461 | +10.7% |
| Amounts receivable within one year | 40/41 | €187,487 | €150,917 | -€36,570 | -19.5% |
| Trade receivables | 40 | €169,255 | €148,295 | -€20,960 | -12.4% |
| Other amounts receivable | 41 | €18,232 | €2,622 | -€15,610 | -85.6% |
| Current investments | 50/53 | €150,000 | €50,000 | -€100,000 | -66.7% |
| Cash at bank and in hand | 54/58 | €143,054 | €331,085 | +€188,031 | +131.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €545,407 | €584,622 | +€39,215 | +7.2% |
| Equity | 10/15 | €419,082 | €489,976 | +€70,893 | +16.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €399,082 | €469,976 | +€70,893 | +17.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €2,028 | €2,028 | = | 0.0% |
| Distributable reserves | 133 | €397,054 | €467,947 | +€70,893 | +17.9% |
| Amounts payable | 17/49 | €126,325 | €94,646 | -€31,679 | -25.1% |
| Amounts payable after more than one year | 17 | €12,210 | €3,070 | -€9,140 | -74.9% |
| Financial debts | 170/4 | €12,210 | €3,070 | -€9,140 | -74.9% |
| Amounts payable within one year | 42/48 | €113,630 | €91,256 | -€22,374 | -19.7% |
| Current portion of amounts payable after more than one year | 42 | €9,034 | €9,140 | +€106 | +1.2% |
| Financial debts | 43 | €8,446 | €10,108 | +€1,662 | +19.7% |
| Credit institutions | 430/8 | €8,446 | €10,108 | +€1,662 | +19.7% |
| Trade debts | 44 | €63,700 | €59,040 | -€4,660 | -7.3% |
| Suppliers | 440/4 | €63,700 | €59,040 | -€4,660 | -7.3% |
| Taxes, remuneration and social security | 45 | €10,377 | €4,160 | -€6,217 | -59.9% |
| Taxes | 450/3 | €10,377 | €4,160 | -€6,217 | -59.9% |
| Other amounts payable | 47/48 | €22,073 | €8,808 | -€13,265 | -60.1% |
| Accrued charges and deferred income | 492/3 | €485 | €320 | -€165 | -34.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,508 | €12,247 | -€261 | -2.1% |
| Other operating charges | 640/8 | €10,091 | €5,092 | -€4,999 | -49.5% |
| Gross operating margin | 9900 | €133,077 | €122,973 | -€10,103 | -7.6% |
| Operating profit (loss) | 9901 | €110,478 | €105,634 | -€4,844 | -4.4% |
| Financial income | 75/76B | €4,037 | €3,332 | -€705 | -17.5% |
| Recurring financial income | 75 | €4,037 | €3,332 | -€705 | -17.5% |
| Financial charges | 65/66B | €2,794 | €2,183 | -€611 | -21.9% |
| Recurring financial charges | 65 | €2,794 | €2,183 | -€611 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | €111,721 | €106,783 | -€4,938 | -4.4% |
| Income taxes | 67/77 | €33,595 | €35,890 | +€2,295 | +6.8% |
| Profit (loss) for the period | 9904 | €78,126 | €70,893 | -€7,233 | -9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €78,126 | €70,893 | -€7,233 | -9.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.