VEPAGRO: 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.
VEPAGRO
Largest movements
- Receivables within one year -€46,744
down €46,744 (-36.5%), from €128,010 to €81,266
- Cash -€11,460
down €11,460 (-95.5%), from €11,993 to €534
mainly Debts after one year (-€30,461) and Tax, wage and social debts (-€21,061)
- Tangible fixed assets -€9,592
down €9,592 (-38.4%), from €24,976 to €15,384
of which Furniture and vehicles: -€8,680
- Profit (loss) carried forward -€39,824
down €39,824 (-88.9%), from €44,774 to €4,950
- Debts after one year -€30,461
down €30,461 (-85.0%), from €35,820 to €5,359
- Reserves +€25,000
up €25,000 (+1,316%), from €1,900 to €26,900
of which Distributable reserves: +€26,900
- Tax, wage and social debts -€21,061
down €21,061 (-97.6%), from €21,575 to €514
- Gross operating margin +€40,827
up €40,827, from -€39,737 to €1,090
- Write-downs -€10,250
new in 2025: -€10,250
- Other operating charges +€10,182
up €10,182 (+233%), from €4,366 to €14,548
- Financial income +€1,315
up €1,315 (+1,349%), from €97 to €1,412
- Financial charges +€872
up €872 (+34.0%), from €2,564 to €3,436
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 | €164,980 | €97,184 | -€67,796 | -41.1% |
| Fixed assets | 21/28 | €24,976 | €15,384 | -€9,592 | -38.4% |
| Tangible fixed assets | 22/27 | €24,976 | €15,384 | -€9,592 | -38.4% |
| Plant, machinery and equipment | 23 | €2,741 | €1,829 | -€912 | -33.3% |
| Furniture and vehicles | 24 | €22,235 | €13,555 | -€8,680 | -39.0% |
| Current assets | 29/58 | €140,004 | €81,800 | -€58,204 | -41.6% |
| Amounts receivable within one year | 40/41 | €128,010 | €81,266 | -€46,744 | -36.5% |
| Other amounts receivable | 41 | €128,010 | €81,266 | -€46,744 | -36.5% |
| Cash at bank and in hand | 54/58 | €11,993 | €534 | -€11,460 | -95.5% |
| Total equity and liabilities | 10/49 | €164,980 | €97,184 | -€67,796 | -41.1% |
| Equity | 10/15 | €65,674 | €50,850 | -€14,824 | -22.6% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €1,900 | €26,900 | +€25,000 | +1,316% |
| Non-distributable reserves | 130/1 | €1,900 | - | -€1,900 | |
| Reserves not available under the articles | 1311 | €1,900 | - | -€1,900 | |
| Distributable reserves | 133 | - | €26,900 | +€26,900 | |
| Profit (loss) carried forward | 14 | €44,774 | €4,950 | -€39,824 | -88.9% |
| Amounts payable | 17/49 | €99,306 | €46,334 | -€52,972 | -53.3% |
| Amounts payable after more than one year | 17 | €35,820 | €5,359 | -€30,461 | -85.0% |
| Financial debts | 170/4 | €35,820 | €5,359 | -€30,461 | -85.0% |
| Amounts payable within one year | 42/48 | €63,486 | €40,975 | -€22,511 | -35.5% |
| Current portion of amounts payable after more than one year | 42 | €31,911 | €30,461 | -€1,449 | -4.5% |
| Trade debts | 44 | €10,000 | €10,000 | = | 0.0% |
| Suppliers | 440/4 | €10,000 | €10,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €21,575 | €514 | -€21,061 | -97.6% |
| Taxes | 450/3 | €21,575 | €514 | -€21,061 | -97.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,489 | €9,592 | +€103 | +1.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€10,250 | -€10,250 | |
| Other operating charges | 640/8 | €4,366 | €14,548 | +€10,182 | +233% |
| Gross operating margin | 9900 | -€39,737 | €1,090 | +€40,827 | |
| Operating profit (loss) | 9901 | -€53,592 | -€12,800 | +€40,792 | +76.1% |
| Financial income | 75/76B | €97 | €1,412 | +€1,315 | +1,349% |
| Recurring financial income | 75 | €97 | €1,412 | +€1,315 | +1,349% |
| Financial charges | 65/66B | €2,564 | €3,436 | +€872 | +34.0% |
| Recurring financial charges | 65 | €2,564 | €3,436 | +€872 | +34.0% |
| Profit (loss) for the period before taxes | 9903 | -€56,059 | -€14,824 | +€41,235 | +73.6% |
| Profit (loss) for the period | 9904 | -€56,059 | -€14,824 | +€41,235 | +73.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€56,059 | -€14,824 | +€41,235 | +73.6% |
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 14 October 2026 via checked.be.