Veslin: 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.
Veslin
Largest movements
- Cash +€8.9m
up €8.9m (+20800.9%), from €42,966 to €9.0m
mainly Net result for the year (+€13.6m) and Investment in fixed assets (net) (+€900,000)
- Receivables after one year +€5.6m
new in 2025: €5.6m
- Financial fixed assets -€900,000
no longer reported in 2025 (was €900,000)
- Profit (loss) carried forward +€13.6m
up €13.6m (+1349.8%), from €1.0m to €14.6m
- Financial income -€80,775
down €80,775 (-55.7%), from €145,000 to €64,225
of which Financial income: -€80,835
- Turnover +€69,000
new in 2025: €69,000
- Taxes +€20,000
new in 2025: €20,000
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 | €1,132,966 | €14,680,919 | +€13.5m | +1195.8% |
| Fixed assets | 21/28 | €900,000 | - | -€900,000 | |
| Financial fixed assets | 28 | €900,000 | - | -€900,000 | |
| Affiliated companies | 280/1 | €900,000 | - | -€900,000 | |
| Participating interests | 280 | €900,000 | - | -€900,000 | |
| Current assets | 29/58 | €232,966 | €14,680,919 | +€14.4m | +6201.7% |
| Amounts receivable after more than one year | 29 | - | €5,567,503 | +€5.6m | |
| Other amounts receivable | 291 | - | €5,567,503 | +€5.6m | |
| Amounts receivable within one year | 40/41 | €190,000 | €69,000 | -€121,000 | -63.7% |
| Other amounts receivable | 41 | €190,000 | €69,000 | -€121,000 | -63.7% |
| Cash at bank and in hand | 54/58 | €42,966 | €8,980,250 | +€8.9m | +20800.9% |
| Deferred charges and accrued income | 490/1 | - | €64,165 | +€64,165 | |
| Total equity and liabilities | 10/49 | €1,132,966 | €14,680,919 | +€13.5m | +1195.8% |
| Equity | 10/15 | €1,026,966 | €14,613,209 | +€13.6m | +1322.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,006,506 | €14,592,749 | +€13.6m | +1349.8% |
| Amounts payable | 17/49 | €106,000 | €67,710 | -€38,290 | -36.1% |
| Amounts payable within one year | 42/48 | €100,000 | €61,710 | -€38,290 | -38.3% |
| Advances received on contracts in progress | 46 | - | €61,710 | +€61,710 | |
| Taxes, remuneration and social security | 45 | €15,000 | - | -€15,000 | |
| Taxes | 450/3 | €15,000 | - | -€15,000 | |
| Other amounts payable | 47/48 | €85,000 | - | -€85,000 | |
| Accrued charges and deferred income | 492/3 | €6,000 | €6,000 | = | 0.0% |
| Operating income | 70/76A | - | €13,551,360 | +€13.6m | |
| Turnover | 70 | - | €69,000 | +€69,000 | |
| Non-recurring operating income | 76A | - | €13,482,360 | +€13.5m | |
| Operating charges | 60/66A | €8,756 | €9,103 | +€347 | +4.0% |
| Services and other goods | 61 | €7,260 | €7,563 | +€303 | +4.2% |
| Other operating charges | 640/8 | €1,496 | €1,541 | +€44 | +3.0% |
| Operating profit (loss) | 9901 | -€8,756 | €13,542,257 | +€13.6m | |
| Financial income | 75/76B | €145,000 | €64,225 | -€80,775 | -55.7% |
| Recurring financial income | 75 | €145,000 | €64,165 | -€80,835 | -55.7% |
| Income from financial fixed assets | 750 | €145,000 | - | -€145,000 | |
| Other financial income | 752/9 | - | €64,165 | +€64,165 | |
| Non-recurring financial income | 76B | - | €60 | +€60 | |
| Financial charges | 65/66B | €135 | €240 | +€105 | +77.9% |
| Recurring financial charges | 65 | €135 | €240 | +€105 | +77.9% |
| Other financial charges | 652/9 | €135 | €240 | +€105 | +77.9% |
| Profit (loss) for the period before taxes | 9903 | €136,109 | €13,606,243 | +€13.5m | +9896.6% |
| Income taxes | 67/77 | - | €20,000 | +€20,000 | |
| Taxes | 670/3 | - | €20,000 | +€20,000 | |
| Profit (loss) for the period | 9904 | €136,109 | €13,586,243 | +€13.5m | +9881.9% |
| Profit (loss) for the period to be appropriated | 9905 | €136,109 | €13,586,243 | +€13.5m | +9881.9% |
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 11 October 2026 via checked.be.