Vemi Projects: 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.
Vemi Projects
Largest movements
- Receivables within one year -€17,841
down €17,841 (-27.5%), from €64,972 to €47,130
of which Other amounts receivable: -€14,478
- Tangible fixed assets -€12,304
down €12,304 (-21.0%), from €58,585 to €46,281
of which Plant, machinery and equipment: -€10,996
- Cash +€3,527
up €3,527 (+40.7%), from €8,676 to €12,203
mainly Receivables within one year (+€17,841) and Trade debts (+€12,885)
- Debts after one year -€14,324
down €14,324 (-25.3%), from €56,535 to €42,211
- Trade debts +€12,885
up €12,885 (+149.7%), from €8,605 to €21,490
- Short-term financial debts -€12,548
no longer reported in 2025 (was €12,548)
- Accrued charges and deferred income -€11,207
down €11,207 (-37.7%), from €29,705 to €18,497
- Tax, wage and social debts -€3,425
down €3,425 (-74.2%), from €4,617 to €1,192
- Gross operating margin +€12,820
up €12,820 (+314.0%), from €4,083 to €16,903
- Depreciation +€9,364
up €9,364 (+281.8%), from €3,323 to €12,687
- Financial charges +€2,446
up €2,446 (+324.5%), from €754 to €3,199
- Other operating charges +€1,084
new in 2025: €1,084
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 | €142,878 | €115,280 | -€27,598 | -19.3% |
| Fixed assets | 21/28 | €61,687 | €49,000 | -€12,687 | -20.6% |
| Intangible fixed assets | 21 | €1,527 | €1,143 | -€383 | -25.1% |
| Tangible fixed assets | 22/27 | €58,585 | €46,281 | -€12,304 | -21.0% |
| Plant, machinery and equipment | 23 | €52,404 | €41,408 | -€10,996 | -21.0% |
| Furniture and vehicles | 24 | €6,180 | €4,873 | -€1,307 | -21.2% |
| Financial fixed assets | 28 | €1,575 | €1,575 | = | 0.0% |
| Current assets | 29/58 | €81,192 | €66,281 | -€14,911 | -18.4% |
| Stocks and contracts in progress | 3 | €1,322 | €2,048 | +€725 | +54.8% |
| Stocks | 30/36 | €1,322 | €2,048 | +€725 | +54.8% |
| Amounts receivable within one year | 40/41 | €64,972 | €47,130 | -€17,841 | -27.5% |
| Trade receivables | 40 | €28,450 | €25,087 | -€3,363 | -11.8% |
| Other amounts receivable | 41 | €36,521 | €22,043 | -€14,478 | -39.6% |
| Cash at bank and in hand | 54/58 | €8,676 | €12,203 | +€3,527 | +40.7% |
| Deferred charges and accrued income | 490/1 | €6,222 | €4,900 | -€1,322 | -21.3% |
| Total equity and liabilities | 10/49 | €142,878 | €115,280 | -€27,598 | -19.3% |
| Equity | 10/15 | €18,071 | €18,067 | -€5 | 0.0% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Reserves | 13 | - | €67 | +€67 | |
| Distributable reserves | 133 | - | €67 | +€67 | |
| Profit (loss) carried forward | 14 | €71 | - | -€71 | |
| Amounts payable | 17/49 | €124,807 | €97,214 | -€27,594 | -22.1% |
| Amounts payable after more than one year | 17 | €56,535 | €42,211 | -€14,324 | -25.3% |
| Financial debts | 170/4 | €56,535 | €42,211 | -€14,324 | -25.3% |
| Amounts payable within one year | 42/48 | €38,567 | €36,505 | -€2,062 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €12,798 | €13,824 | +€1,026 | +8.0% |
| Financial debts | 43 | €12,548 | - | -€12,548 | |
| Credit institutions | 430/8 | €12,548 | - | -€12,548 | |
| Trade debts | 44 | €8,605 | €21,490 | +€12,885 | +149.7% |
| Suppliers | 440/4 | €8,605 | €21,490 | +€12,885 | +149.7% |
| Taxes, remuneration and social security | 45 | €4,617 | €1,192 | -€3,425 | -74.2% |
| Taxes | 450/3 | €4,617 | €1,192 | -€3,425 | -74.2% |
| Accrued charges and deferred income | 492/3 | €29,705 | €18,497 | -€11,207 | -37.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,323 | €12,687 | +€9,364 | +281.8% |
| Other operating charges | 640/8 | - | €1,084 | +€1,084 | |
| Gross operating margin | 9900 | €4,083 | €16,903 | +€12,820 | +314.0% |
| Operating profit (loss) | 9901 | €760 | €3,132 | +€2,373 | +312.2% |
| Financial income | 75/76B | €65 | €112 | +€47 | +72.3% |
| Recurring financial income | 75 | €65 | €112 | +€47 | +72.3% |
| Financial charges | 65/66B | €754 | €3,199 | +€2,446 | +324.5% |
| Recurring financial charges | 65 | €754 | €3,199 | +€2,446 | +324.5% |
| Profit (loss) for the period before taxes | 9903 | €71 | €45 | -€26 | -36.6% |
| Income taxes | 67/77 | - | €50 | +€50 | |
| Profit (loss) for the period | 9904 | €71 | -€5 | -€76 | |
| Profit (loss) for the period to be appropriated | 9905 | €71 | -€5 | -€76 |
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 7 October 2026 via checked.be.