VEP SOLUTIONS: 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.
VEP SOLUTIONS
Largest movements
- Current investments +€33,000
up €33,000 (+50.8%), from €65,000 to €98,000
- Tangible fixed assets -€22,734
down €22,734 (-41.0%), from €55,460 to €32,725
of which Furniture and vehicles: -€19,669
- Cash +€8,360
up €8,360 (+3.4%), from €242,963 to €251,323
mainly Net result for the year (+€75,772) and Other debts (+€55,934)
- Other debts +€55,934
up €55,934 (+298.1%), from €18,766 to €74,700
- Reserves -€38,228
down €38,228 (-11.5%), from €333,772 to €295,544
- Gross operating margin -€36,492
down €36,492 (-21.2%), from €172,318 to €135,826
- Taxes -€2,509
down €2,509 (-7.5%), from €33,439 to €30,930
- Other operating charges +€2,245
up €2,245 (+98.6%), from €2,278 to €4,523
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 | €408,392 | €427,023 | +€18,631 | +4.6% |
| Fixed assets | 21/28 | €56,960 | €34,225 | -€22,734 | -39.9% |
| Tangible fixed assets | 22/27 | €55,460 | €32,725 | -€22,734 | -41.0% |
| Plant, machinery and equipment | 23 | €8,526 | €6,193 | -€2,333 | -27.4% |
| Furniture and vehicles | 24 | €39,791 | €20,122 | -€19,669 | -49.4% |
| Other tangible fixed assets | 26 | €7,143 | €6,410 | -€733 | -10.3% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €351,432 | €392,797 | +€41,365 | +11.8% |
| Amounts receivable within one year | 40/41 | €32,307 | €34,729 | +€2,422 | +7.5% |
| Trade receivables | 40 | €32,307 | €34,540 | +€2,233 | +6.9% |
| Other amounts receivable | 41 | €0 | €189 | +€189 | |
| Current investments | 50/53 | €65,000 | €98,000 | +€33,000 | +50.8% |
| Cash at bank and in hand | 54/58 | €242,963 | €251,323 | +€8,360 | +3.4% |
| Deferred charges and accrued income | 490/1 | €11,162 | €8,745 | -€2,417 | -21.7% |
| Total equity and liabilities | 10/49 | €408,392 | €427,023 | +€18,631 | +4.6% |
| Equity | 10/15 | €336,772 | €298,544 | -€38,228 | -11.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €333,772 | €295,544 | -€38,228 | -11.5% |
| Distributable reserves | 133 | €333,772 | €295,544 | -€38,228 | -11.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €71,620 | €128,479 | +€56,859 | +79.4% |
| Amounts payable within one year | 42/48 | €71,620 | €128,479 | +€56,859 | +79.4% |
| Financial debts | 43 | €485 | €2,710 | +€2,225 | +458.8% |
| Credit institutions | 430/8 | €485 | €2,710 | +€2,225 | +458.8% |
| Trade debts | 44 | €4,167 | €4,747 | +€580 | +13.9% |
| Suppliers | 440/4 | €4,167 | €4,747 | +€580 | +13.9% |
| Taxes, remuneration and social security | 45 | €48,203 | €46,322 | -€1,881 | -3.9% |
| Taxes | 450/3 | €48,203 | €46,322 | -€1,881 | -3.9% |
| Other amounts payable | 47/48 | €18,766 | €74,700 | +€55,934 | +298.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,882 | €23,434 | +€1,552 | +7.1% |
| Other operating charges | 640/8 | €2,278 | €4,523 | +€2,245 | +98.6% |
| Gross operating margin | 9900 | €172,318 | €135,826 | -€36,492 | -21.2% |
| Operating profit (loss) | 9901 | €148,158 | €107,868 | -€40,289 | -27.2% |
| Financial income | 75/76B | €1,003 | €0 | -€1,003 | -100.0% |
| Recurring financial income | 75 | €1,003 | €0 | -€1,003 | -100.0% |
| Financial charges | 65/66B | €1,329 | €1,166 | -€163 | -12.3% |
| Recurring financial charges | 65 | €1,329 | €1,166 | -€163 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €147,832 | €106,703 | -€41,130 | -27.8% |
| Income taxes | 67/77 | €33,439 | €30,930 | -€2,509 | -7.5% |
| Profit (loss) for the period | 9904 | €114,393 | €75,772 | -€38,621 | -33.8% |
| Profit (loss) for the period to be appropriated | 9905 | €114,393 | €75,772 | -€38,621 | -33.8% |
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 2 October 2026 via checked.be.