VEMA: 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.
VEMA
Largest movements
- Tangible fixed assets -€8,633
down €8,633 (-11.8%), from €73,219 to €64,585
- Cash -€1,264
down €1,264 (-25.1%), from €5,031 to €3,767
mainly Debts after one year (-€5,240) and Net result for the year (-€4,765)
- Debts after one year -€5,240
down €5,240 (-30.9%), from €16,976 to €11,735
- Profit (loss) carried forward -€4,765
down €4,765 (-11.3%), from -€42,148 to -€46,913
- Other operating charges +€153
up €153 (+8.6%), from €1,773 to €1,926
- Gross operating margin +€135
up €135 (+2.2%), from €6,132 to €6,267
- Financial charges -€106
down €106 (-18.3%), from €579 to €473
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 | €78,249 | €68,353 | -€9,897 | -12.6% |
| Fixed assets | 21/28 | €73,219 | €64,585 | -€8,633 | -11.8% |
| Tangible fixed assets | 22/27 | €73,219 | €64,585 | -€8,633 | -11.8% |
| Land and buildings | 22 | €73,219 | €64,585 | -€8,633 | -11.8% |
| Current assets | 29/58 | €5,031 | €3,767 | -€1,264 | -25.1% |
| Cash at bank and in hand | 54/58 | €5,031 | €3,767 | -€1,264 | -25.1% |
| Total equity and liabilities | 10/49 | €78,249 | €68,353 | -€9,897 | -12.6% |
| Equity | 10/15 | €19,846 | €15,081 | -€4,765 | -24.0% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €21 | €21 | = | 0.0% |
| Non-distributable reserves | 130/1 | €21 | €21 | = | 0.0% |
| Legal reserve | 130 | €21 | €21 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,148 | -€46,913 | -€4,765 | -11.3% |
| Amounts payable | 17/49 | €58,403 | €53,271 | -€5,132 | -8.8% |
| Amounts payable after more than one year | 17 | €16,976 | €11,735 | -€5,240 | -30.9% |
| Financial debts | 170/4 | €16,976 | €11,735 | -€5,240 | -30.9% |
| Amounts payable within one year | 42/48 | €41,428 | €41,536 | +€108 | +0.3% |
| Current portion of amounts payable after more than one year | 42 | €5,132 | €5,240 | +€108 | +2.1% |
| Other amounts payable | 47/48 | €36,296 | €36,296 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,633 | €8,633 | = | 0.0% |
| Other operating charges | 640/8 | €1,773 | €1,926 | +€153 | +8.6% |
| Gross operating margin | 9900 | €6,132 | €6,267 | +€135 | +2.2% |
| Operating profit (loss) | 9901 | -€4,274 | -€4,292 | -€18 | -0.4% |
| Financial charges | 65/66B | €579 | €473 | -€106 | -18.3% |
| Recurring financial charges | 65 | €579 | €473 | -€106 | -18.3% |
| Profit (loss) for the period before taxes | 9903 | -€4,853 | -€4,765 | +€88 | +1.8% |
| Profit (loss) for the period | 9904 | -€4,853 | -€4,765 | +€88 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,853 | -€4,765 | +€88 | +1.8% |
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 5 October 2026 via checked.be.