VEPI: 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.
VEPI
Largest movements
- Receivables within one year -€12,053
down €12,053 (-50.4%), from €23,915 to €11,862
of which Trade receivables: -€12,721
- Cash +€11,938
up €11,938 (+63.5%), from €18,801 to €30,740
mainly Receivables within one year (+€12,053) and Depreciation (+€8,154)
- Tangible fixed assets -€7,080
down €7,080 (-20.8%), from €33,972 to €26,892
of which Furniture and vehicles: -€6,474
- Deferred charges and accrued income +€1,611
up €1,611 (+365.4%), from €441 to €2,052
- Trade debts -€3,547
down €3,547 (-60.6%), from €5,858 to €2,310
- Tax, wage and social debts -€2,127
down €2,127 (-94.4%), from €2,254 to €127
of which Taxes: -€1,512
- Other debts -€1,745
down €1,745 (-4.7%), from €37,277 to €35,532
- Reserves +€1,268
up €1,268 (+6.2%), from €20,619 to €21,887
- Gross operating margin -€15,417
down €15,417 (-59.9%), from €25,751 to €10,335
- Depreciation +€1,577
up €1,577 (+24.0%), from €6,577 to €8,154
- Taxes -€1,512
down €1,512 (-92.3%), from €1,639 to €127
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 | €84,793 | €78,648 | -€6,145 | -7.2% |
| Fixed assets | 21/28 | €34,207 | €27,128 | -€7,080 | -20.7% |
| Tangible fixed assets | 22/27 | €33,972 | €26,892 | -€7,080 | -20.8% |
| Land and buildings | 22 | €188 | - | -€188 | |
| Plant, machinery and equipment | 23 | €703 | €831 | +€128 | +18.2% |
| Furniture and vehicles | 24 | €28,039 | €21,565 | -€6,474 | -23.1% |
| Other tangible fixed assets | 26 | €5,041 | €4,496 | -€545 | -10.8% |
| Financial fixed assets | 28 | €236 | €236 | = | 0.0% |
| Current assets | 29/58 | €50,585 | €51,520 | +€935 | +1.8% |
| Stocks and contracts in progress | 3 | €7,428 | €6,867 | -€561 | -7.5% |
| Stocks | 30/36 | €7,083 | €6,167 | -€916 | -12.9% |
| Contracts in progress | 37 | €345 | €700 | +€355 | +102.9% |
| Amounts receivable within one year | 40/41 | €23,915 | €11,862 | -€12,053 | -50.4% |
| Trade receivables | 40 | €23,640 | €10,919 | -€12,721 | -53.8% |
| Other amounts receivable | 41 | €275 | €943 | +€667 | +242.6% |
| Cash at bank and in hand | 54/58 | €18,801 | €30,740 | +€11,938 | +63.5% |
| Deferred charges and accrued income | 490/1 | €441 | €2,052 | +€1,611 | +365.4% |
| Total equity and liabilities | 10/49 | €84,793 | €78,648 | -€6,145 | -7.2% |
| Equity | 10/15 | €39,211 | €40,479 | +€1,268 | +3.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €20,619 | €21,887 | +€1,268 | +6.2% |
| Distributable reserves | 133 | €20,619 | €21,887 | +€1,268 | +6.2% |
| Amounts payable | 17/49 | €45,582 | €38,169 | -€7,413 | -16.3% |
| Amounts payable within one year | 42/48 | €45,388 | €37,969 | -€7,419 | -16.3% |
| Trade debts | 44 | €5,858 | €2,310 | -€3,547 | -60.6% |
| Suppliers | 440/4 | €5,858 | €2,310 | -€3,547 | -60.6% |
| Taxes, remuneration and social security | 45 | €2,254 | €127 | -€2,127 | -94.4% |
| Taxes | 450/3 | €1,639 | €127 | -€1,512 | -92.3% |
| Remuneration and social security | 454/9 | €615 | - | -€615 | |
| Other amounts payable | 47/48 | €37,277 | €35,532 | -€1,745 | -4.7% |
| Accrued charges and deferred income | 492/3 | €194 | €200 | +€6 | +3.2% |
| Non-recurring operating income | 76A | - | €500 | +€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,577 | €8,154 | +€1,577 | +24.0% |
| Other operating charges | 640/8 | €1,051 | €880 | -€171 | -16.2% |
| Gross operating margin | 9900 | €25,751 | €10,335 | -€15,417 | -59.9% |
| Operating profit (loss) | 9901 | €18,123 | €1,300 | -€16,823 | -92.8% |
| Financial income | 75/76B | €129 | €319 | +€191 | +148.3% |
| Recurring financial income | 75 | €129 | €319 | +€191 | +148.3% |
| Financial charges | 65/66B | €227 | €225 | -€2 | -0.8% |
| Recurring financial charges | 65 | €227 | €225 | -€2 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €18,025 | €1,395 | -€16,630 | -92.3% |
| Income taxes | 67/77 | €1,639 | €127 | -€1,512 | -92.3% |
| Profit (loss) for the period | 9904 | €16,386 | €1,268 | -€15,118 | -92.3% |
| Profit (loss) for the period to be appropriated | 9905 | €16,386 | €1,268 | -€15,118 | -92.3% |
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 8 October 2026 via checked.be.