VEMACO: 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.
VEMACO
Largest movements
- Cash +€28,830
up €28,830 (+2,314%), from €1,246 to €30,076
mainly Net result for the year (+€30,545) and Receivables within one year (+€10,973)
- Receivables within one year -€10,973
down €10,973 (-32.3%), from €33,953 to €22,980
of which Other amounts receivable: -€6,619
- Deferred charges and accrued income +€5,037
new in 2025: €5,037
- Tangible fixed assets +€2,474
new in 2025: €2,474
- Profit (loss) carried forward +€30,545
up €30,545 (+301%), from €10,152 to €40,696
- Trade debts -€10,027
down €10,027 (-91.2%), from €10,992 to €965
- Tax, wage and social debts +€8,472
up €8,472 (+100%), from €8,434 to €16,906
- Other debts -€3,621
down €3,621 (-100%), from €3,621 to €0
- Gross operating margin +€41,678
up €41,678, from -€2,689 to €38,989
- Taxes +€7,793
up €7,793 (+4,388%), from €178 to €7,971
- Financial income +€742
new in 2025: €742
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 | €35,199 | €60,567 | +€25,368 | +72.1% |
| Fixed assets | 21/28 | - | €2,474 | +€2,474 | |
| Tangible fixed assets | 22/27 | - | €2,474 | +€2,474 | |
| Furniture and vehicles | 24 | - | €2,474 | +€2,474 | |
| Current assets | 29/58 | €35,199 | €58,093 | +€22,894 | +65.0% |
| Amounts receivable within one year | 40/41 | €33,953 | €22,980 | -€10,973 | -32.3% |
| Trade receivables | 40 | €18,953 | €14,599 | -€4,354 | -23.0% |
| Other amounts receivable | 41 | €15,000 | €8,381 | -€6,619 | -44.1% |
| Cash at bank and in hand | 54/58 | €1,246 | €30,076 | +€28,830 | +2,314% |
| Deferred charges and accrued income | 490/1 | - | €5,037 | +€5,037 | |
| Total equity and liabilities | 10/49 | €35,199 | €60,567 | +€25,368 | +72.1% |
| Equity | 10/15 | €12,152 | €42,696 | +€30,545 | +251% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,152 | €40,696 | +€30,545 | +301% |
| Amounts payable | 17/49 | €23,047 | €17,871 | -€5,176 | -22.5% |
| Amounts payable within one year | 42/48 | €23,047 | €17,871 | -€5,176 | -22.5% |
| Trade debts | 44 | €10,992 | €965 | -€10,027 | -91.2% |
| Suppliers | 440/4 | €10,992 | €965 | -€10,027 | -91.2% |
| Taxes, remuneration and social security | 45 | €8,434 | €16,906 | +€8,472 | +100% |
| Taxes | 450/3 | €8,434 | €16,906 | +€8,472 | +100% |
| Other amounts payable | 47/48 | €3,621 | €0 | -€3,621 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €266 | +€266 | |
| Other operating charges | 640/8 | €665 | €595 | -€70 | -10.5% |
| Gross operating margin | 9900 | -€2,689 | €38,989 | +€41,678 | |
| Operating profit (loss) | 9901 | -€3,354 | €38,128 | +€41,482 | |
| Financial income | 75/76B | - | €742 | +€742 | |
| Recurring financial income | 75 | - | €742 | +€742 | |
| Financial charges | 65/66B | €295 | €355 | +€60 | +20.3% |
| Recurring financial charges | 65 | €295 | €355 | +€60 | +20.3% |
| Profit (loss) for the period before taxes | 9903 | -€3,649 | €38,515 | +€42,164 | |
| Income taxes | 67/77 | €178 | €7,971 | +€7,793 | +4,388% |
| Profit (loss) for the period | 9904 | -€3,827 | €30,545 | +€34,371 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,827 | €30,545 | +€34,371 |
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.