VEOWARE: 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.
VEOWARE
Largest movements
- Financial fixed assets +€1.3m
up €1.3m (+12.7%), from €10.1m to €11.4m
- Cash -€747,605
down €747,605 (-98.0%), from €763,205 to €15,600
mainly Investment in fixed assets (net) (-€1.3m) and Deferred charges and accrued income (-€88,312)
- Current investments -€300,000
down €300,000 (-100%), from €300,000 to €0
- Debts after one year +€250,000
up €250,000, from €0 to €250,000
- Financial charges -€101,218
down €101,218 (-99.6%), from €101,646 to €428
- Gross operating margin +€79,830
up €79,830 (+82.2%), from -€97,141 to -€17,311
- Financial income +€28,450
up €28,450 (+41.3%), from €68,968 to €97,418
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 | €11,316,464 | €11,599,863 | +€283,399 | +2.5% |
| Fixed assets | 21/28 | €10,143,067 | €11,428,842 | +€1.3m | +12.7% |
| Financial fixed assets | 28 | €10,143,067 | €11,428,842 | +€1.3m | +12.7% |
| Current assets | 29/58 | €1,173,396 | €171,020 | -€1.0m | -85.4% |
| Amounts receivable within one year | 40/41 | €48,286 | €5,202 | -€43,084 | -89.2% |
| Trade receivables | 40 | €35,775 | €0 | -€35,775 | -100% |
| Other amounts receivable | 41 | €12,511 | €5,202 | -€7,309 | -58.4% |
| Current investments | 50/53 | €300,000 | €0 | -€300,000 | -100% |
| Cash at bank and in hand | 54/58 | €763,205 | €15,600 | -€747,605 | -98.0% |
| Deferred charges and accrued income | 490/1 | €61,905 | €150,218 | +€88,312 | +143% |
| Total equity and liabilities | 10/49 | €11,316,464 | €11,599,863 | +€283,399 | +2.5% |
| Equity | 10/15 | €11,270,948 | €11,349,629 | +€78,681 | +0.7% |
| Contributions | 10/11 | €11,419,534 | €11,419,534 | = | 0.0% |
| Capital | 10 | €11,419,534 | €11,419,534 | = | 0.0% |
| Issued capital | 100 | €11,419,534 | €11,419,534 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€148,586 | -€69,905 | +€78,681 | +53.0% |
| Amounts payable | 17/49 | €45,515 | €250,234 | +€204,718 | +450% |
| Amounts payable after more than one year | 17 | €0 | €250,000 | +€250,000 | |
| Financial debts | 170/4 | €0 | €250,000 | +€250,000 | |
| Amounts payable within one year | 42/48 | €45,515 | €234 | -€45,282 | -99.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €45,515 | €234 | -€45,282 | -99.5% |
| Suppliers | 440/4 | €45,515 | €234 | -€45,282 | -99.5% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Other operating charges | 640/8 | €387 | €998 | +€611 | +158% |
| Gross operating margin | 9900 | -€97,141 | -€17,311 | +€79,830 | +82.2% |
| Operating profit (loss) | 9901 | -€97,528 | -€18,309 | +€79,219 | +81.2% |
| Financial income | 75/76B | €68,968 | €97,418 | +€28,450 | +41.3% |
| Recurring financial income | 75 | €68,968 | €97,418 | +€28,450 | +41.3% |
| Financial charges | 65/66B | €101,646 | €428 | -€101,218 | -99.6% |
| Recurring financial charges | 65 | €101,646 | €428 | -€101,218 | -99.6% |
| Profit (loss) for the period before taxes | 9903 | -€130,206 | €78,681 | +€208,887 | |
| Profit (loss) for the period | 9904 | -€130,206 | €78,681 | +€208,887 | |
| Profit (loss) for the period to be appropriated | 9905 | -€130,206 | €78,681 | +€208,887 |
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 20 October 2026 via checked.be.