VEMARG 99: 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.
VEMARG 99
Largest movements
- Current investments +€200,391
new in 2025: €200,391
- Cash +€11,005
up €11,005 (+3.6%), from €306,028 to €317,033
mainly Net result for the year (+€109,333) and Tax, wage and social debts (+€40,128)
- Profit (loss) carried forward +€109,333
up €109,333 (+49.0%), from €223,164 to €332,497
- Tax, wage and social debts +€40,128
up €40,128 (+50.5%), from €79,405 to €119,532
- Provisions +€39,038
new in 2025: €39,038
- Other debts +€27,160
up €27,160 (+1120.6%), from €2,424 to €29,583
- Gross operating margin -€69,864
down €69,864 (-23.8%), from €293,065 to €223,202
- Provisions +€39,038
new in 2025: €39,038
- Financial charges +€29,188
up €29,188 (+72497.5%), from €40 to €29,228
- Taxes -€24,013
down €24,013 (-34.6%), from €69,474 to €45,461
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 | €307,761 | €526,127 | +€218,366 | +71.0% |
| Fixed assets | 21/28 | - | €2,600 | +€2,600 | |
| Tangible fixed assets | 22/27 | - | €2,600 | +€2,600 | |
| Furniture and vehicles | 24 | - | €2,600 | +€2,600 | |
| Current assets | 29/58 | €307,761 | €523,527 | +€215,766 | +70.1% |
| Amounts receivable within one year | 40/41 | - | €3,000 | +€3,000 | |
| Trade receivables | 40 | - | €3,000 | +€3,000 | |
| Current investments | 50/53 | - | €200,391 | +€200,391 | |
| Cash at bank and in hand | 54/58 | €306,028 | €317,033 | +€11,005 | +3.6% |
| Deferred charges and accrued income | 490/1 | €1,733 | €3,103 | +€1,370 | +79.1% |
| Total equity and liabilities | 10/49 | €307,761 | €526,127 | +€218,366 | +71.0% |
| Equity | 10/15 | €225,164 | €334,497 | +€109,333 | +48.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €223,164 | €332,497 | +€109,333 | +49.0% |
| Provisions and deferred taxes | 16 | - | €39,038 | +€39,038 | |
| Provisions for liabilities and charges | 160/5 | - | €39,038 | +€39,038 | |
| Other liabilities and charges | 164/5 | - | €39,038 | +€39,038 | |
| Amounts payable | 17/49 | €82,597 | €152,591 | +€69,995 | +84.7% |
| Amounts payable within one year | 42/48 | €82,152 | €152,591 | +€70,440 | +85.7% |
| Trade debts | 44 | €324 | €3,476 | +€3,153 | +974.5% |
| Suppliers | 440/4 | €324 | €3,476 | +€3,153 | +974.5% |
| Taxes, remuneration and social security | 45 | €79,405 | €119,532 | +€40,128 | +50.5% |
| Taxes | 450/3 | €79,405 | €119,532 | +€40,128 | +50.5% |
| Other amounts payable | 47/48 | €2,424 | €29,583 | +€27,160 | +1120.6% |
| Accrued charges and deferred income | 492/3 | €445 | €0 | -€445 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €400 | +€400 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €39,038 | +€39,038 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €293,065 | €223,202 | -€69,864 | -23.8% |
| Operating profit (loss) | 9901 | €292,678 | €183,363 | -€109,314 | -37.3% |
| Financial income | 75/76B | €1 | €658 | +€657 | +68483.3% |
| Recurring financial income | 75 | €1 | €658 | +€657 | +68483.3% |
| Financial charges | 65/66B | €40 | €29,228 | +€29,188 | +72497.5% |
| Recurring financial charges | 65 | €40 | €29,228 | +€29,188 | +72497.5% |
| Profit (loss) for the period before taxes | 9903 | €292,639 | €154,794 | -€137,845 | -47.1% |
| Income taxes | 67/77 | €69,474 | €45,461 | -€24,013 | -34.6% |
| Profit (loss) for the period | 9904 | €223,164 | €109,333 | -€113,831 | -51.0% |
| Profit (loss) for the period to be appropriated | 9905 | €223,164 | €109,333 | -€113,831 | -51.0% |
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 6 October 2026 via checked.be.