VEPABO: 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.
VEPABO
Largest movements
- Receivables within one year +€21,501
up €21,501 (+84.7%), from €25,372 to €46,873
of which Trade receivables: +€26,926
- Cash -€12,267
down €12,267 (-51.7%), from €23,707 to €11,439
mainly Receivables within one year (-€21,501) and Trade debts (-€6,813)
- Tangible fixed assets -€1,653
down €1,653 (-19.6%), from €8,451 to €6,798
of which Plant, machinery and equipment: -€1,184
- Deferred charges and accrued income +€700
up €700 (+29.3%), from €2,389 to €3,089
- Tax, wage and social debts +€8,031
up €8,031 (+251.0%), from €3,200 to €11,230
- Trade debts -€6,813
down €6,813 (-50.1%), from €13,594 to €6,781
- Profit (loss) carried forward +€6,281
up €6,281 (+10.1%), from -€62,489 to -€56,208
- Other debts +€1,400
up €1,400 (+10.3%), from €13,587 to €14,988
- Turnover +€131,157
new in 2025: €131,157
- Purchases and services +€117,798
new in 2025: €117,798
- Gross operating margin +€49,229
up €49,229, from -€35,670 to €13,559
- Other operating charges +€1,956
up €1,956 (+100.0%), from €1,956 to €3,912
- Depreciation -€1,836
down €1,836 (-39.0%), from €4,709 to €2,873
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 | €59,918 | €68,199 | +€8,281 | +13.8% |
| Fixed assets | 21/28 | €8,451 | €6,798 | -€1,653 | -19.6% |
| Tangible fixed assets | 22/27 | €8,451 | €6,798 | -€1,653 | -19.6% |
| Plant, machinery and equipment | 23 | €3,533 | €2,349 | -€1,184 | -33.5% |
| Furniture and vehicles | 24 | €1,671 | €811 | -€859 | -51.4% |
| Other tangible fixed assets | 26 | €3,247 | €3,637 | +€390 | +12.0% |
| Current assets | 29/58 | €51,467 | €61,402 | +€9,934 | +19.3% |
| Amounts receivable within one year | 40/41 | €25,372 | €46,873 | +€21,501 | +84.7% |
| Trade receivables | 40 | €19,821 | €46,747 | +€26,926 | +135.8% |
| Other amounts receivable | 41 | €5,551 | €126 | -€5,425 | -97.7% |
| Cash at bank and in hand | 54/58 | €23,707 | €11,439 | -€12,267 | -51.7% |
| Deferred charges and accrued income | 490/1 | €2,389 | €3,089 | +€700 | +29.3% |
| Total equity and liabilities | 10/49 | €59,918 | €68,199 | +€8,281 | +13.8% |
| Equity | 10/15 | €28,721 | €35,002 | +€6,281 | +21.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €85,010 | €85,010 | = | 0.0% |
| Distributable reserves | 133 | €85,010 | €85,010 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€62,489 | -€56,208 | +€6,281 | +10.1% |
| Amounts payable | 17/49 | €31,197 | €33,198 | +€2,000 | +6.4% |
| Amounts payable within one year | 42/48 | €30,381 | €32,999 | +€2,618 | +8.6% |
| Trade debts | 44 | €13,594 | €6,781 | -€6,813 | -50.1% |
| Suppliers | 440/4 | €13,594 | €6,781 | -€6,813 | -50.1% |
| Taxes, remuneration and social security | 45 | €3,200 | €11,230 | +€8,031 | +251.0% |
| Taxes | 450/3 | €3,200 | €11,230 | +€8,031 | +251.0% |
| Other amounts payable | 47/48 | €13,587 | €14,988 | +€1,400 | +10.3% |
| Accrued charges and deferred income | 492/3 | €816 | €198 | -€618 | -75.7% |
| Turnover | 70 | - | €131,157 | +€131,157 | |
| Non-recurring operating income | 76A | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €117,798 | +€117,798 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,709 | €2,873 | -€1,836 | -39.0% |
| Other operating charges | 640/8 | €1,956 | €3,912 | +€1,956 | +100.0% |
| Non-recurring operating charges | 66A | - | €160 | +€160 | |
| Gross operating margin | 9900 | -€35,670 | €13,559 | +€49,229 | |
| Operating profit (loss) | 9901 | -€42,335 | €6,614 | +€48,949 | |
| Financial income | 75/76B | €36 | €32 | -€4 | -11.2% |
| Recurring financial income | 75 | €36 | €32 | -€4 | -11.2% |
| Financial charges | 65/66B | €349 | €365 | +€15 | +4.4% |
| Recurring financial charges | 65 | €349 | €365 | +€15 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | -€42,648 | €6,281 | +€48,929 | |
| Income taxes | 67/77 | - | €0 | +€0 | |
| Profit (loss) for the period | 9904 | -€42,648 | €6,281 | +€48,929 | |
| Profit (loss) for the period to be appropriated | 9905 | -€42,648 | €6,281 | +€48,929 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.