VEMA 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.
VEMA Management
Largest movements
- Cash +€67,719
up €67,719 (+58.2%), from €116,416 to €184,135
mainly Other debts (+€276,933) and Net result for the year (+€140,672)
- Receivables after one year -€4,701
down €4,701 (-100%), from €4,701 to €0
- Other debts +€276,933
new in 2025: €276,933
- Reserves -€220,000
down €220,000 (-95.7%), from €230,000 to €10,000
- Tax, wage and social debts +€36,991
up €36,991 (+1,950%), from €1,897 to €38,888
- Debts after one year -€34,533
down €34,533 (-50.0%), from €69,067 to €34,533
- Gross operating margin +€53,269
up €53,269 (+41.2%), from €129,242 to €182,511
- Taxes +€13,116
up €13,116 (+47.5%), from €27,635 to €40,752
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 | €367,076 | €427,806 | +€60,729 | +16.5% |
| Fixed assets | 21/28 | €241,733 | €241,733 | = | 0.0% |
| Financial fixed assets | 28 | €241,733 | €241,733 | = | 0.0% |
| Current assets | 29/58 | €125,343 | €186,072 | +€60,729 | +48.5% |
| Amounts receivable after more than one year | 29 | €4,701 | €0 | -€4,701 | -100% |
| Other amounts receivable | 291 | €4,701 | €0 | -€4,701 | -100% |
| Amounts receivable within one year | 40/41 | €4,225 | €1,937 | -€2,288 | -54.2% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €4,225 | €1,937 | -€2,288 | -54.2% |
| Cash at bank and in hand | 54/58 | €116,416 | €184,135 | +€67,719 | +58.2% |
| Total equity and liabilities | 10/49 | €367,076 | €427,806 | +€60,729 | +16.5% |
| Equity | 10/15 | €261,401 | €42,072 | -€219,329 | -83.9% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €230,000 | €10,000 | -€220,000 | -95.7% |
| Distributable reserves | 133 | €230,000 | €10,000 | -€220,000 | -95.7% |
| Profit (loss) carried forward | 14 | €6,401 | €7,072 | +€672 | +10.5% |
| Amounts payable | 17/49 | €105,676 | €385,733 | +€280,058 | +265% |
| Amounts payable after more than one year | 17 | €69,067 | €34,533 | -€34,533 | -50.0% |
| Financial debts | 170/4 | €69,067 | €34,533 | -€34,533 | -50.0% |
| Amounts payable within one year | 42/48 | €36,609 | €351,200 | +€314,591 | +859% |
| Current portion of amounts payable after more than one year | 42 | €34,533 | €34,533 | = | 0.0% |
| Trade debts | 44 | €179 | €846 | +€667 | +374% |
| Suppliers | 440/4 | €179 | €846 | +€667 | +374% |
| Taxes, remuneration and social security | 45 | €1,897 | €38,888 | +€36,991 | +1,950% |
| Taxes | 450/3 | €1,897 | €38,888 | +€36,991 | +1,950% |
| Other amounts payable | 47/48 | - | €276,933 | +€276,933 | |
| Other operating charges | 640/8 | €598 | €613 | +€14 | +2.4% |
| Gross operating margin | 9900 | €129,242 | €182,511 | +€53,269 | +41.2% |
| Operating profit (loss) | 9901 | €128,643 | €181,898 | +€53,255 | +41.4% |
| Financial income | 75/76B | €1,080 | €628 | -€451 | -41.8% |
| Recurring financial income | 75 | €1,080 | €628 | -€451 | -41.8% |
| Financial charges | 65/66B | €1,432 | €1,104 | -€329 | -23.0% |
| Recurring financial charges | 65 | €1,432 | €1,104 | -€329 | -23.0% |
| Profit (loss) for the period before taxes | 9903 | €128,290 | €181,423 | +€53,133 | +41.4% |
| Income taxes | 67/77 | €27,635 | €40,752 | +€13,116 | +47.5% |
| Profit (loss) for the period | 9904 | €100,655 | €140,672 | +€40,016 | +39.8% |
| Profit (loss) for the period to be appropriated | 9905 | €100,655 | €140,672 | +€40,016 | +39.8% |
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.