Vero: 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.
What changed
Vero
NACE 55.100, Hotels and similar accommodation
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€30,159
2024 · -€64,875+€34,716
Equity
-€363,867
2024 · -€333,708-€30,159
Cash
€41,403
2024 · €35,728+€5,676
Balance sheet total
€590,339
2024 · €608,896-€18,557
Largest movements
Assets
- Tangible fixed assets -€23,547
down €23,547 (-6.3%), from €372,910 to €349,363
of which Plant, machinery and equipment: -€11,852
- Deferred charges and accrued income +€8,591
new in 2025: €8,591
Equity and liabilities
- Profit (loss) carried forward -€30,159
down €30,159 (-7.7%), from -€393,370 to -€423,530
- Other debts +€9,406
up €9,406 (+1.1%), from €875,225 to €884,631
Income statement
- Gross operating margin +€19,258
up €19,258 (+9.0%), from €214,168 to €233,426
- Staff costs -€12,524
down €12,524 (-5.1%), from €243,705 to €231,182
- Financial income +€2,596
new in 2025: €2,596
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.
Result 2024
-€64,875
Gross operating margin
+€19,258
Staff costs
+€12,524
Depreciation
-€715
Other operating charges
+€1,671
Other operating items
+€1,378
Financial income
+€2,596
Financial charges
-€1,905
Taxes
-€91
Result 2025
-€30,159
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.
From operations
+€12,031
Investment
-€6,355
Financing
€0
Cash 2024
€35,728
From operations (derived)
+€12,031
Net result for the year
-€30,159
Depreciation
+€29,902
Stocks and contracts
+€3,268
Receivables within one year
+€6,008
Deferred charges and accrued income
-€8,591
Trade debts
+€575
Tax, wage and social debts
+€1,621
Other debts
+€9,406
Investment (derived)
-€6,355
Investment in fixed assets (net)
-€6,355
Cash 2025
€41,403
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €608,896 | €590,339 | -€18,557 | -3.0% |
| Fixed assets | 21/28 | €377,406 | €353,859 | -€23,547 | -6.2% |
| Tangible fixed assets | 22/27 | €372,910 | €349,363 | -€23,547 | -6.3% |
| Land and buildings | 22 | €291,138 | €279,750 | -€11,388 | -3.9% |
| Plant, machinery and equipment | 23 | €78,930 | €67,078 | -€11,852 | -15.0% |
| Furniture and vehicles | 24 | €2,842 | €2,535 | -€307 | -10.8% |
| Financial fixed assets | 28 | €4,496 | €4,496 | = | 0.0% |
| Current assets | 29/58 | €231,490 | €236,480 | +€4,990 | +2.2% |
| Stocks and contracts in progress | 3 | €119,744 | €116,476 | -€3,268 | -2.7% |
| Stocks | 30/36 | €119,744 | €116,476 | -€3,268 | -2.7% |
| Amounts receivable within one year | 40/41 | €76,019 | €70,010 | -€6,008 | -7.9% |
| Trade receivables | 40 | €58,441 | €50,823 | -€7,618 | -13.0% |
| Other amounts receivable | 41 | €17,577 | €19,187 | +€1,610 | +9.2% |
| Cash at bank and in hand | 54/58 | €35,728 | €41,403 | +€5,676 | +15.9% |
| Deferred charges and accrued income | 490/1 | - | €8,591 | +€8,591 | |
| Total equity and liabilities | 10/49 | €608,896 | €590,339 | -€18,557 | -3.0% |
| Equity | 10/15 | -€333,708 | -€363,867 | -€30,159 | -9.0% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €28,676 | €28,676 | = | 0.0% |
| Distributable reserves | 133 | €28,676 | €28,676 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€393,370 | -€423,530 | -€30,159 | -7.7% |
| Amounts payable | 17/49 | €942,604 | €954,206 | +€11,602 | +1.2% |
| Amounts payable within one year | 42/48 | €942,604 | €954,206 | +€11,602 | +1.2% |
| Financial debts | 43 | €3 | €3 | = | 0.0% |
| Other loans | 439 | €3 | €3 | = | 0.0% |
| Trade debts | 44 | €27,566 | €28,142 | +€575 | +2.1% |
| Suppliers | 440/4 | €27,566 | €28,142 | +€575 | +2.1% |
| Taxes, remuneration and social security | 45 | €39,810 | €41,431 | +€1,621 | +4.1% |
| Taxes | 450/3 | €20,553 | €21,163 | +€610 | +3.0% |
| Remuneration and social security | 454/9 | €19,257 | €20,268 | +€1,010 | +5.2% |
| Other amounts payable | 47/48 | €875,225 | €884,631 | +€9,406 | +1.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €243,705 | €231,182 | -€12,524 | -5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,187 | €29,902 | +€715 | +2.4% |
| Other operating charges | 640/8 | €3,180 | €1,510 | -€1,671 | -52.5% |
| Non-recurring operating charges | 66A | €1,378 | €0 | -€1,378 | -100.0% |
| Gross operating margin | 9900 | €214,168 | €233,426 | +€19,258 | +9.0% |
| Operating profit (loss) | 9901 | -€63,284 | -€29,168 | +€34,116 | +53.9% |
| Financial income | 75/76B | - | €2,596 | +€2,596 | |
| Recurring financial income | 75 | - | €2,596 | +€2,596 | |
| Financial charges | 65/66B | €1,678 | €3,583 | +€1,905 | +113.5% |
| Recurring financial charges | 65 | €1,678 | €3,583 | +€1,905 | +113.5% |
| Profit (loss) for the period before taxes | 9903 | -€64,962 | -€30,155 | +€34,807 | +53.6% |
| Income taxes | 67/77 | -€87 | €4 | +€91 | |
| Profit (loss) for the period | 9904 | -€64,875 | -€30,159 | +€34,716 | +53.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€64,875 | -€30,159 | +€34,716 | +53.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.