VEPA: 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.
VEPA
Largest movements
- Current investments -€11,837
down €11,837 (-12.9%), from €91,641 to €79,804
- Profit (loss) carried forward -€18,504
down €18,504 (-13.0%), from -€141,892 to -€160,395
- Other debts +€6,977
up €6,977 (+7.1%), from €97,943 to €104,920
- Financial charges +€14,266
up €14,266, from -€9,004 to €5,262
- Gross operating margin -€406
down €406 (-3.0%), from -€13,696 to -€14,102
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 | €478,817 | €467,928 | -€10,889 | -2.3% |
| Current assets | 29/58 | €478,817 | €467,928 | -€10,889 | -2.3% |
| Amounts receivable within one year | 40/41 | €334 | €362 | +€27 | +8.2% |
| Other amounts receivable | 41 | €334 | €362 | +€27 | +8.2% |
| Current investments | 50/53 | €91,641 | €79,804 | -€11,837 | -12.9% |
| Cash at bank and in hand | 54/58 | €386,841 | €387,762 | +€921 | +0.2% |
| Total equity and liabilities | 10/49 | €478,817 | €467,928 | -€10,889 | -2.3% |
| Equity | 10/15 | €379,293 | €360,789 | -€18,504 | -4.9% |
| Contributions | 10/11 | €337,192 | €337,192 | = | 0.0% |
| Reserves | 13 | €183,993 | €183,993 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,438 | €11,438 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11,438 | €11,438 | = | 0.0% |
| Distributable reserves | 133 | €172,554 | €172,554 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€141,892 | -€160,395 | -€18,504 | -13.0% |
| Amounts payable | 17/49 | €99,524 | €107,139 | +€7,615 | +7.7% |
| Amounts payable within one year | 42/48 | €99,524 | €107,139 | +€7,615 | +7.7% |
| Taxes, remuneration and social security | 45 | €1,581 | €2,219 | +€638 | +40.3% |
| Taxes | 450/3 | €1,581 | €2,219 | +€638 | +40.3% |
| Other amounts payable | 47/48 | €97,943 | €104,920 | +€6,977 | +7.1% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | -€13,696 | -€14,102 | -€406 | -3.0% |
| Operating profit (loss) | 9901 | -€14,080 | -€14,489 | -€409 | -2.9% |
| Financial income | 75/76B | €1,115 | €1,248 | +€133 | +12.0% |
| Recurring financial income | 75 | €1,115 | €1,248 | +€133 | +12.0% |
| Financial charges | 65/66B | -€9,004 | €5,262 | +€14,266 | |
| Recurring financial charges | 65 | -€9,004 | €5,262 | +€14,266 | |
| Profit (loss) for the period before taxes | 9903 | -€3,961 | -€18,504 | -€14,542 | -367% |
| Profit (loss) for the period | 9904 | -€3,961 | -€18,504 | -€14,542 | -367% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,961 | -€18,504 | -€14,542 | -367% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.