VEMIS: what changed
VEMIS
Largest movements
- Cash +€57,818
up €57,818 (+57.1%), from €101,203 to €159,022
mainly Net result for the year (+€69,308) and Depreciation (+€17,664)
- Tangible fixed assets -€17,664
down €17,664 (-20.6%), from €85,652 to €67,988
of which Furniture and vehicles: -€16,292
- Financial fixed assets +€11,440
up €11,440 (+39.3%), from €29,128 to €40,569
- Reserves +€69,308
up €69,308 (+106%), from €65,629 to €134,937
of which Distributable reserves: +€69,308
- Other debts -€18,771
down €18,771 (-18.4%), from €102,150 to €83,379
- Debts after one year -€9,665
down €9,665 (-24.7%), from €39,192 to €29,528
- Accrued charges and deferred income +€8,555
new in 2025: €8,555
- Depreciation +€12,944
up €12,944 (+274%), from €4,720 to €17,664
- Taxes -€5,593
down €5,593 (-25.2%), from €22,209 to €16,617
- Financial charges +€4,690
up €4,690 (+681%), from €688 to €5,379
- Gross operating margin -€3,877
down €3,877 (-3.5%), from €109,931 to €106,054
- Financial income +€2,345
up €2,345 (+166%), from €1,411 to €3,755
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €242,861 | €295,041 | +€52,180 | +21.5% |
| Fixed assets | 21/28 | €114,780 | €108,557 | -€6,223 | -5.4% |
| Tangible fixed assets | 22/27 | €85,652 | €67,988 | -€17,664 | -20.6% |
| Plant, machinery and equipment | 23 | €7,541 | €6,169 | -€1,372 | -18.2% |
| Furniture and vehicles | 24 | €78,111 | €61,819 | -€16,292 | -20.9% |
| Financial fixed assets | 28 | €29,128 | €40,569 | +€11,440 | +39.3% |
| Current assets | 29/58 | €128,080 | €186,484 | +€58,404 | +45.6% |
| Amounts receivable within one year | 40/41 | €24,398 | €24,998 | +€600 | +2.5% |
| Trade receivables | 40 | €20,488 | €20,488 | = | 0.0% |
| Other amounts receivable | 41 | €3,910 | €4,510 | +€600 | +15.4% |
| Cash at bank and in hand | 54/58 | €101,203 | €159,022 | +€57,818 | +57.1% |
| Deferred charges and accrued income | 490/1 | €2,479 | €2,464 | -€15 | -0.6% |
| Total equity and liabilities | 10/49 | €242,861 | €295,041 | +€52,180 | +21.5% |
| Equity | 10/15 | €84,229 | €153,537 | +€69,308 | +82.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €65,629 | €134,937 | +€69,308 | +106% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €65,629 | €134,937 | +€69,308 | +106% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €158,631 | €141,504 | -€17,128 | -10.8% |
| Amounts payable after more than one year | 17 | €39,192 | €29,528 | -€9,665 | -24.7% |
| Financial debts | 170/4 | €39,192 | €29,528 | -€9,665 | -24.7% |
| Amounts payable within one year | 42/48 | €119,439 | €103,420 | -€16,018 | -13.4% |
| Financial debts | 43 | €9,297 | €9,665 | +€368 | +4.0% |
| Credit institutions | 430/8 | €9,297 | €9,665 | +€368 | +4.0% |
| Trade debts | 44 | €624 | €755 | +€132 | +21.1% |
| Suppliers | 440/4 | €624 | €755 | +€132 | +21.1% |
| Taxes, remuneration and social security | 45 | €7,369 | €9,621 | +€2,253 | +30.6% |
| Taxes | 450/3 | €7,369 | €9,621 | +€2,253 | +30.6% |
| Other amounts payable | 47/48 | €102,150 | €83,379 | -€18,771 | -18.4% |
| Accrued charges and deferred income | 492/3 | - | €8,555 | +€8,555 | |
| Non-recurring operating income | 76A | - | €4,525 | +€4,525 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,720 | €17,664 | +€12,944 | +274% |
| Other operating charges | 640/8 | €1,564 | €843 | -€722 | -46.1% |
| Gross operating margin | 9900 | €109,931 | €106,054 | -€3,877 | -3.5% |
| Operating profit (loss) | 9901 | €103,648 | €87,548 | -€16,100 | -15.5% |
| Financial income | 75/76B | €1,411 | €3,755 | +€2,345 | +166% |
| Recurring financial income | 75 | €1,411 | €3,755 | +€2,345 | +166% |
| Financial charges | 65/66B | €688 | €5,379 | +€4,690 | +681% |
| Recurring financial charges | 65 | €688 | €5,379 | +€4,690 | +681% |
| Profit (loss) for the period before taxes | 9903 | €104,370 | €85,924 | -€18,445 | -17.7% |
| Income taxes | 67/77 | €22,209 | €16,617 | -€5,593 | -25.2% |
| Profit (loss) for the period | 9904 | €82,160 | €69,308 | -€12,853 | -15.6% |
| Profit (loss) for the period to be appropriated | 9905 | €82,160 | €69,308 | -€12,853 | -15.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.