Vemabel: 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.
Vemabel
Largest movements
- Receivables within one year +€21,780
up €21,780 (+50.0%), from €43,575 to €65,355
of which Trade receivables: +€21,780
- Tangible fixed assets -€15,984
down €15,984 (-25.8%), from €61,879 to €45,895
- Cash +€1,996
up €1,996 (+3.2%), from €61,575 to €63,571
mainly Depreciation (+€15,984) and Net result for the year (+€13,496)
- Reserves +€13,496
up €13,496 (+33.8%), from €39,892 to €53,388
- Other debts -€9,534
down €9,534 (-8.2%), from €115,918 to €106,385
- Tax, wage and social debts +€3,717
up €3,717 (+42.2%), from €8,809 to €12,525
- Gross operating margin -€749
down €749 (-2.1%), from €34,880 to €34,131
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 | €167,028 | €174,821 | +€7,792 | +4.7% |
| Fixed assets | 21/28 | €61,879 | €45,895 | -€15,984 | -25.8% |
| Tangible fixed assets | 22/27 | €61,879 | €45,895 | -€15,984 | -25.8% |
| Furniture and vehicles | 24 | €61,879 | €45,895 | -€15,984 | -25.8% |
| Current assets | 29/58 | €105,150 | €128,926 | +€23,776 | +22.6% |
| Amounts receivable within one year | 40/41 | €43,575 | €65,355 | +€21,780 | +50.0% |
| Trade receivables | 40 | €43,560 | €65,340 | +€21,780 | +50.0% |
| Other amounts receivable | 41 | €15 | €15 | +€0 | +1.4% |
| Cash at bank and in hand | 54/58 | €61,575 | €63,571 | +€1,996 | +3.2% |
| Total equity and liabilities | 10/49 | €167,028 | €174,821 | +€7,792 | +4.7% |
| Equity | 10/15 | €41,892 | €55,388 | +€13,496 | +32.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €39,892 | €53,388 | +€13,496 | +33.8% |
| Distributable reserves | 133 | €39,892 | €53,388 | +€13,496 | +33.8% |
| Amounts payable | 17/49 | €125,136 | €119,433 | -€5,704 | -4.6% |
| Amounts payable within one year | 42/48 | €125,136 | €119,433 | -€5,704 | -4.6% |
| Trade debts | 44 | €410 | €523 | +€113 | +27.6% |
| Suppliers | 440/4 | €410 | €523 | +€113 | +27.6% |
| Taxes, remuneration and social security | 45 | €8,809 | €12,525 | +€3,717 | +42.2% |
| Taxes | 450/3 | €8,809 | €12,525 | +€3,717 | +42.2% |
| Other amounts payable | 47/48 | €115,918 | €106,385 | -€9,534 | -8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,984 | €15,984 | = | 0.0% |
| Other operating charges | 640/8 | €880 | €772 | -€109 | -12.4% |
| Gross operating margin | 9900 | €34,880 | €34,131 | -€749 | -2.1% |
| Operating profit (loss) | 9901 | €18,015 | €17,376 | -€640 | -3.6% |
| Financial charges | 65/66B | €132 | €153 | +€22 | +16.3% |
| Recurring financial charges | 65 | €132 | €153 | +€22 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | €17,884 | €17,222 | -€661 | -3.7% |
| Income taxes | 67/77 | €3,853 | €3,726 | -€126 | -3.3% |
| Profit (loss) for the period | 9904 | €14,031 | €13,496 | -€535 | -3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €14,031 | €13,496 | -€535 | -3.8% |
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 8 October 2026 via checked.be.