VEMOGE: 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.
VEMOGE
Largest movements
- Cash -€85,811
down €85,811 (-28.8%), from €297,679 to €211,868
mainly Investment in fixed assets (net) (-€143,469) and Contributions, distributions and other (-€129,558)
- Tangible fixed assets +€51,704
up €51,704 (+4.5%), from €1.2m to €1.2m
of which Land and buildings: +€55,174
- Receivables within one year +€47,903
up €47,903 (+510.6%), from €9,382 to €57,286
of which Trade receivables: +€49,806
- Deferred charges and accrued income +€38,535
up €38,535 (+21.7%), from €177,181 to €215,715
- Reserves +€64,612
up €64,612 (+7.7%), from €841,660 to €906,272
- Debts after one year -€55,550
down €55,550 (-14.5%), from €383,108 to €327,558
- Other debts +€18,024
up €18,024 (+16.0%), from €112,446 to €130,471
- Tax, wage and social debts +€17,134
up €17,134 (+538.6%), from €3,181 to €20,315
- Gross operating margin +€85,139
up €85,139 (+26.8%), from €318,032 to €403,171
- Taxes +€21,986
up €21,986 (+33.6%), from €65,397 to €87,383
- Depreciation +€14,779
up €14,779 (+19.2%), from €76,986 to €91,765
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 | €1,645,723 | €1,698,054 | +€52,331 | +3.2% |
| Fixed assets | 21/28 | €1,153,016 | €1,204,720 | +€51,704 | +4.5% |
| Tangible fixed assets | 22/27 | €1,150,516 | €1,202,220 | +€51,704 | +4.5% |
| Land and buildings | 22 | €1,100,355 | €1,155,529 | +€55,174 | +5.0% |
| Plant, machinery and equipment | 23 | €1,032 | €552 | -€481 | -46.6% |
| Furniture and vehicles | 24 | €49,129 | €42,180 | -€6,949 | -14.1% |
| Other tangible fixed assets | 26 | - | €3,960 | +€3,960 | |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €492,707 | €493,334 | +€627 | +0.1% |
| Amounts receivable within one year | 40/41 | €9,382 | €57,286 | +€47,903 | +510.6% |
| Trade receivables | 40 | €4,594 | €54,400 | +€49,806 | +1084.2% |
| Other amounts receivable | 41 | €4,788 | €2,886 | -€1,903 | -39.7% |
| Current investments | 50/53 | €8,465 | €8,465 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €297,679 | €211,868 | -€85,811 | -28.8% |
| Deferred charges and accrued income | 490/1 | €177,181 | €215,715 | +€38,535 | +21.7% |
| Total equity and liabilities | 10/49 | €1,645,723 | €1,698,054 | +€52,331 | +3.2% |
| Equity | 10/15 | €1,061,433 | €1,126,045 | +€64,612 | +6.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €841,660 | €906,272 | +€64,612 | +7.7% |
| Distributable reserves | 133 | €841,660 | €906,272 | +€64,612 | +7.7% |
| Profit (loss) carried forward | 14 | €207,372 | €207,372 | = | 0.0% |
| Amounts payable | 17/49 | €584,290 | €572,010 | -€12,281 | -2.1% |
| Amounts payable after more than one year | 17 | €383,108 | €327,558 | -€55,550 | -14.5% |
| Financial debts | 170/4 | €383,108 | €327,558 | -€55,550 | -14.5% |
| Amounts payable within one year | 42/48 | €196,721 | €236,970 | +€40,249 | +20.5% |
| Current portion of amounts payable after more than one year | 42 | €64,432 | €55,550 | -€8,882 | -13.8% |
| Financial debts | 43 | €12,500 | €23,661 | +€11,161 | +89.3% |
| Other loans | 439 | €12,500 | €23,661 | +€11,161 | +89.3% |
| Trade debts | 44 | €4,162 | €6,973 | +€2,811 | +67.6% |
| Suppliers | 440/4 | €4,162 | €6,973 | +€2,811 | +67.6% |
| Taxes, remuneration and social security | 45 | €3,181 | €20,315 | +€17,134 | +538.6% |
| Taxes | 450/3 | €3,181 | €20,315 | +€17,134 | +538.6% |
| Other amounts payable | 47/48 | €112,446 | €130,471 | +€18,024 | +16.0% |
| Accrued charges and deferred income | 492/3 | €4,461 | €7,482 | +€3,020 | +67.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,986 | €91,765 | +€14,779 | +19.2% |
| Other operating charges | 640/8 | €7,981 | €8,229 | +€247 | +3.1% |
| Gross operating margin | 9900 | €318,032 | €403,171 | +€85,139 | +26.8% |
| Operating profit (loss) | 9901 | €233,065 | €303,177 | +€70,112 | +30.1% |
| Financial income | 75/76B | €0 | €1 | +€1 | +866.7% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +866.7% |
| Financial charges | 65/66B | €20,443 | €21,625 | +€1,183 | +5.8% |
| Recurring financial charges | 65 | €20,443 | €21,625 | +€1,183 | +5.8% |
| Profit (loss) for the period before taxes | 9903 | €212,622 | €281,553 | +€68,931 | +32.4% |
| Income taxes | 67/77 | €65,397 | €87,383 | +€21,986 | +33.6% |
| Profit (loss) for the period | 9904 | €147,226 | €194,170 | +€46,945 | +31.9% |
| Profit (loss) for the period to be appropriated | 9905 | €147,226 | €194,170 | +€46,945 | +31.9% |
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 1 October 2026 via checked.be.