VeMaB: 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.
VeMaB
Largest movements
- Current investments +€184,682
up €184,682 (+1205.7%), from €15,318 to €200,000
- Cash -€143,445
down €143,445 (-80.8%), from €177,501 to €34,057
mainly Current investments (-€184,682) and Trade debts (-€55,670)
- Receivables within one year +€29,754
up €29,754 (+49.3%), from €60,294 to €90,048
of which Trade receivables: +€30,526
- Tangible fixed assets -€5,259
down €5,259 (-3.4%), from €152,933 to €147,675
of which Land and buildings: -€3,390
- Reserves +€85,000
up €85,000 (+48.6%), from €175,000 to €260,000
- Trade debts -€55,670
down €55,670 (-71.2%), from €78,196 to €22,526
- Debts after one year +€36,820
up €36,820 (+39.3%), from €93,722 to €130,542
- Other debts -€7,173
down €7,173 (-82.8%), from €8,667 to €1,493
- Tax, wage and social debts +€5,128
up €5,128 (+16.0%), from €32,117 to €37,245
- Gross operating margin -€14,942
down €14,942 (-10.6%), from €140,764 to €125,822
- Taxes -€4,249
down €4,249 (-14.3%), from €29,617 to €25,368
- Depreciation +€2,816
up €2,816 (+24.4%), from €11,562 to €14,378
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €410,249 | €473,279 | +€63,030 | +15.4% |
| Fixed assets | 21/28 | €154,433 | €149,175 | -€5,259 | -3.4% |
| Tangible fixed assets | 22/27 | €152,933 | €147,675 | -€5,259 | -3.4% |
| Land and buildings | 22 | €137,994 | €134,604 | -€3,390 | -2.5% |
| Plant, machinery and equipment | 23 | €8,139 | €7,847 | -€292 | -3.6% |
| Furniture and vehicles | 24 | €6,801 | €5,224 | -€1,577 | -23.2% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €255,816 | €324,105 | +€68,289 | +26.7% |
| Amounts receivable within one year | 40/41 | €60,294 | €90,048 | +€29,754 | +49.3% |
| Trade receivables | 40 | €59,365 | €89,891 | +€30,526 | +51.4% |
| Other amounts receivable | 41 | €930 | €157 | -€773 | -83.1% |
| Current investments | 50/53 | €15,318 | €200,000 | +€184,682 | +1205.7% |
| Cash at bank and in hand | 54/58 | €177,501 | €34,057 | -€143,445 | -80.8% |
| Deferred charges and accrued income | 490/1 | €2,703 | - | -€2,703 | |
| Total equity and liabilities | 10/49 | €410,249 | €473,279 | +€63,030 | +15.4% |
| Equity | 10/15 | €181,521 | €268,293 | +€86,773 | +47.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €175,000 | €260,000 | +€85,000 | +48.6% |
| Distributable reserves | 133 | €175,000 | €260,000 | +€85,000 | +48.6% |
| Profit (loss) carried forward | 14 | €4,021 | €5,793 | +€1,773 | +44.1% |
| Amounts payable | 17/49 | €228,728 | €204,986 | -€23,742 | -10.4% |
| Amounts payable after more than one year | 17 | €93,722 | €130,542 | +€36,820 | +39.3% |
| Financial debts | 170/4 | €93,722 | €130,542 | +€36,820 | +39.3% |
| Amounts payable within one year | 42/48 | €131,982 | €74,444 | -€57,538 | -43.6% |
| Current portion of amounts payable after more than one year | 42 | €13,003 | €13,180 | +€177 | +1.4% |
| Trade debts | 44 | €78,196 | €22,526 | -€55,670 | -71.2% |
| Suppliers | 440/4 | €78,196 | €22,526 | -€55,670 | -71.2% |
| Taxes, remuneration and social security | 45 | €32,117 | €37,245 | +€5,128 | +16.0% |
| Taxes | 450/3 | €32,117 | €37,245 | +€5,128 | +16.0% |
| Other amounts payable | 47/48 | €8,667 | €1,493 | -€7,173 | -82.8% |
| Accrued charges and deferred income | 492/3 | €3,024 | - | -€3,024 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,562 | €14,378 | +€2,816 | +24.4% |
| Other operating charges | 640/8 | €1,105 | €914 | -€191 | -17.3% |
| Gross operating margin | 9900 | €140,764 | €125,822 | -€14,942 | -10.6% |
| Operating profit (loss) | 9901 | €128,096 | €110,530 | -€17,567 | -13.7% |
| Financial income | 75/76B | €7,477 | €6,962 | -€515 | -6.9% |
| Recurring financial income | 75 | €7,477 | €6,962 | -€515 | -6.9% |
| Financial charges | 65/66B | €5,889 | €5,352 | -€537 | -9.1% |
| Recurring financial charges | 65 | €5,889 | €5,352 | -€537 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €129,685 | €112,140 | -€17,544 | -13.5% |
| Income taxes | 67/77 | €29,617 | €25,368 | -€4,249 | -14.3% |
| Profit (loss) for the period | 9904 | €100,067 | €86,773 | -€13,295 | -13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €100,067 | €86,773 | -€13,295 | -13.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.