VEPIDA: 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.
VEPIDA
Largest movements
- Tangible fixed assets -€122,530
down €122,530 (-26.4%), from €464,589 to €342,059
of which Plant, machinery and equipment: -€95,996
- Cash -€35,740
down €35,740 (-26.5%), from €134,835 to €99,095
mainly Debts after one year (-€135,093) and Contributions, distributions and other (-€26,062)
- Receivables within one year -€12,020
down €12,020 (-73.7%), from €16,305 to €4,285
of which Other amounts receivable: -€7,976
- Intangible fixed assets -€9,500
down €9,500 (-33.3%), from €28,500 to €19,000
- Stocks and contracts +€8,651
up €8,651 (+23.4%), from €36,964 to €45,615
- Debts after one year -€135,093
down €135,093 (-29.8%), from €452,629 to €317,536
of which Other amounts payable: -€67,968
- Profit (loss) carried forward +€32,680
up €32,680 (+36.9%), from -€88,655 to -€55,974
- Reserves -€25,212
down €25,212 (-14.7%), from €171,389 to €146,177
- Current portion of long-term debt -€20,951
down €20,951 (-25.9%), from €80,876 to €59,925
- Tax, wage and social debts -€14,765
down €14,765 (-30.0%), from €49,176 to €34,411
of which Remuneration and social security: -€12,682
- Gross operating margin +€55,592
up €55,592 (+11.6%), from €477,491 to €533,082
- Staff costs +€26,353
up €26,353 (+8.1%), from €326,209 to €352,562
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 | €701,147 | €534,166 | -€166,981 | -23.8% |
| Fixed assets | 21/28 | €493,089 | €361,059 | -€132,030 | -26.8% |
| Intangible fixed assets | 21 | €28,500 | €19,000 | -€9,500 | -33.3% |
| Tangible fixed assets | 22/27 | €464,589 | €342,059 | -€122,530 | -26.4% |
| Plant, machinery and equipment | 23 | €403,754 | €307,758 | -€95,996 | -23.8% |
| Furniture and vehicles | 24 | €49,611 | €34,302 | -€15,310 | -30.9% |
| Leasing and similar rights | 25 | €11,224 | €0 | -€11,224 | -100.0% |
| Current assets | 29/58 | €208,058 | €173,107 | -€34,951 | -16.8% |
| Stocks and contracts in progress | 3 | €36,964 | €45,615 | +€8,651 | +23.4% |
| Stocks | 30/36 | €36,964 | €45,615 | +€8,651 | +23.4% |
| Amounts receivable within one year | 40/41 | €16,305 | €4,285 | -€12,020 | -73.7% |
| Trade receivables | 40 | €6,187 | €2,144 | -€4,043 | -65.4% |
| Other amounts receivable | 41 | €10,118 | €2,142 | -€7,976 | -78.8% |
| Current investments | 50/53 | €13,567 | €13,639 | +€71 | +0.5% |
| Cash at bank and in hand | 54/58 | €134,835 | €99,095 | -€35,740 | -26.5% |
| Deferred charges and accrued income | 490/1 | €6,387 | €10,473 | +€4,086 | +64.0% |
| Total equity and liabilities | 10/49 | €701,147 | €534,166 | -€166,981 | -23.8% |
| Equity | 10/15 | €103,884 | €110,502 | +€6,618 | +6.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €171,389 | €146,177 | -€25,212 | -14.7% |
| Distributable reserves | 133 | €171,389 | €146,177 | -€25,212 | -14.7% |
| Profit (loss) carried forward | 14 | -€88,655 | -€55,974 | +€32,680 | +36.9% |
| Investment grants | 15 | €2,550 | €1,700 | -€850 | -33.3% |
| Amounts payable | 17/49 | €597,263 | €423,664 | -€173,599 | -29.1% |
| Amounts payable after more than one year | 17 | €452,629 | €317,536 | -€135,093 | -29.8% |
| Financial debts | 170/4 | €166,321 | €99,196 | -€67,125 | -40.4% |
| Other amounts payable | 178/9 | €286,307 | €218,340 | -€67,968 | -23.7% |
| Amounts payable within one year | 42/48 | €140,802 | €105,238 | -€35,564 | -25.3% |
| Current portion of amounts payable after more than one year | 42 | €80,876 | €59,925 | -€20,951 | -25.9% |
| Trade debts | 44 | €10,750 | €9,405 | -€1,345 | -12.5% |
| Suppliers | 440/4 | €10,750 | €9,405 | -€1,345 | -12.5% |
| Taxes, remuneration and social security | 45 | €49,176 | €34,411 | -€14,765 | -30.0% |
| Taxes | 450/3 | €14,786 | €12,703 | -€2,083 | -14.1% |
| Remuneration and social security | 454/9 | €34,391 | €21,709 | -€12,682 | -36.9% |
| Other amounts payable | 47/48 | - | €1,497 | +€1,497 | |
| Accrued charges and deferred income | 492/3 | €3,833 | €890 | -€2,942 | -76.8% |
| Remuneration, social security and pensions | 62 | €326,209 | €352,562 | +€26,353 | +8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €132,228 | €132,030 | -€198 | -0.1% |
| Other operating charges | 640/8 | €5,279 | €5,282 | +€3 | +0.1% |
| Gross operating margin | 9900 | €477,491 | €533,082 | +€55,592 | +11.6% |
| Operating profit (loss) | 9901 | €13,775 | €43,208 | +€29,434 | +213.7% |
| Financial income | 75/76B | €2,201 | €952 | -€1,250 | -56.8% |
| Recurring financial income | 75 | €2,201 | €952 | -€1,250 | -56.8% |
| Financial charges | 65/66B | €12,282 | €11,277 | -€1,005 | -8.2% |
| Recurring financial charges | 65 | €12,282 | €11,277 | -€1,005 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €3,694 | €32,883 | +€29,189 | +790.2% |
| Income taxes | 67/77 | €214 | €203 | -€11 | -5.2% |
| Profit (loss) for the period | 9904 | €3,480 | €32,680 | +€29,200 | +839.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,480 | €32,680 | +€29,200 | +839.1% |
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 9 October 2026 via checked.be.