VEPAME: 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.
VEPAME
Largest movements
- Cash +€5,230
up €5,230 (+44.9%), from €11,651 to €16,881
mainly Depreciation (+€8,378) and Net result for the year (+€5,664)
- Tangible fixed assets +€4,261
up €4,261 (+33.0%), from €12,907 to €17,168
of which Furniture and vehicles: +€5,077
- Deferred charges and accrued income -€1,586
down €1,586 (-60.1%), from €2,638 to €1,052
- Reserves +€5,664
up €5,664 (+12.8%), from €44,423 to €50,087
- Tax, wage and social debts +€3,185
up €3,185 (+205%), from €1,550 to €4,735
- Trade debts -€2,119
down €2,119 (-93.6%), from €2,263 to €144
- Accrued charges and deferred income +€1,210
new in 2025: €1,210
- Gross operating margin +€9,103
up €9,103 (+84.8%), from €10,729 to €19,832
- Taxes +€3,185
up €3,185 (+205%), from €1,550 to €4,735
- Depreciation +€499
up €499 (+6.3%), from €7,879 to €8,378
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 | €54,437 | €62,376 | +€7,939 | +14.6% |
| Fixed assets | 21/28 | €12,907 | €17,168 | +€4,261 | +33.0% |
| Tangible fixed assets | 22/27 | €12,907 | €17,168 | +€4,261 | +33.0% |
| Plant, machinery and equipment | 23 | €1,312 | €496 | -€816 | -62.2% |
| Furniture and vehicles | 24 | €11,595 | €16,672 | +€5,077 | +43.8% |
| Current assets | 29/58 | €41,530 | €45,208 | +€3,678 | +8.9% |
| Amounts receivable after more than one year | 29 | €18,871 | €19,399 | +€528 | +2.8% |
| Other amounts receivable | 291 | €18,871 | €19,399 | +€528 | +2.8% |
| Amounts receivable within one year | 40/41 | €8,371 | €7,876 | -€494 | -5.9% |
| Trade receivables | 40 | €3,625 | €3,005 | -€620 | -17.1% |
| Other amounts receivable | 41 | €4,746 | €4,872 | +€126 | +2.7% |
| Cash at bank and in hand | 54/58 | €11,651 | €16,881 | +€5,230 | +44.9% |
| Deferred charges and accrued income | 490/1 | €2,638 | €1,052 | -€1,586 | -60.1% |
| Total equity and liabilities | 10/49 | €54,437 | €62,376 | +€7,939 | +14.6% |
| Equity | 10/15 | €50,623 | €56,287 | +€5,664 | +11.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €44,423 | €50,087 | +€5,664 | +12.8% |
| Distributable reserves | 133 | €44,423 | €50,087 | +€5,664 | +12.8% |
| Amounts payable | 17/49 | €3,814 | €6,089 | +€2,275 | +59.7% |
| Amounts payable within one year | 42/48 | €3,814 | €4,879 | +€1,065 | +27.9% |
| Trade debts | 44 | €2,263 | €144 | -€2,119 | -93.6% |
| Suppliers | 440/4 | €2,263 | €144 | -€2,119 | -93.6% |
| Taxes, remuneration and social security | 45 | €1,550 | €4,735 | +€3,185 | +205% |
| Taxes | 450/3 | €1,550 | €4,735 | +€3,185 | +205% |
| Accrued charges and deferred income | 492/3 | - | €1,210 | +€1,210 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,879 | €8,378 | +€499 | +6.3% |
| Other operating charges | 640/8 | €1,430 | €1,548 | +€118 | +8.3% |
| Gross operating margin | 9900 | €10,729 | €19,832 | +€9,103 | +84.8% |
| Operating profit (loss) | 9901 | €1,420 | €9,907 | +€8,486 | +598% |
| Financial income | 75/76B | €645 | €687 | +€42 | +6.5% |
| Recurring financial income | 75 | €645 | €687 | +€42 | +6.5% |
| Financial charges | 65/66B | €199 | €194 | -€5 | -2.4% |
| Recurring financial charges | 65 | €199 | €194 | -€5 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | €1,866 | €10,399 | +€8,533 | +457% |
| Income taxes | 67/77 | €1,550 | €4,735 | +€3,185 | +205% |
| Profit (loss) for the period | 9904 | €316 | €5,664 | +€5,348 | +1,694% |
| Profit (loss) for the period to be appropriated | 9905 | €316 | €5,664 | +€5,348 | +1,694% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.