VET & COW: 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.
VET & COW
Largest movements
- Tangible fixed assets +€49,132
up €49,132 (+967%), from €5,079 to €54,211
of which Furniture and vehicles: +€37,108
- Receivables within one year +€47,992
up €47,992 (+55.1%), from €87,098 to €135,090
of which Other amounts receivable: +€26,763
- Profit (loss) carried forward +€45,132
up €45,132 (+92.0%), from €49,074 to €94,205
- Debts after one year +€30,461
new in 2025: €30,461
- Tax, wage and social debts +€7,430
up €7,430 (+101%), from €7,321 to €14,751
- Other debts +€3,910
up €3,910 (+24.2%), from €16,150 to €20,060
- Current portion of long-term debt +€3,030
up €3,030 (+52.8%), from €5,733 to €8,762
- Gross operating margin +€43,450
up €43,450 (+75.4%), from €57,605 to €101,055
- Taxes +€8,733
up €8,733 (+88.6%), from €9,857 to €18,589
- Other operating charges +€3,700
up €3,700 (+563%), from €657 to €4,357
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 | €99,696 | €195,199 | +€95,503 | +95.8% |
| Formation expenses | 20 | €112 | - | -€112 | |
| Fixed assets | 21/28 | €5,079 | €54,211 | +€49,132 | +967% |
| Tangible fixed assets | 22/27 | €5,079 | €54,211 | +€49,132 | +967% |
| Plant, machinery and equipment | 23 | - | €12,023 | +€12,023 | |
| Furniture and vehicles | 24 | €5,079 | €42,188 | +€37,108 | +731% |
| Current assets | 29/58 | €94,504 | €140,988 | +€46,483 | +49.2% |
| Stocks and contracts in progress | 3 | €4,883 | €3,509 | -€1,374 | -28.1% |
| Stocks | 30/36 | €4,883 | €3,509 | -€1,374 | -28.1% |
| Amounts receivable within one year | 40/41 | €87,098 | €135,090 | +€47,992 | +55.1% |
| Trade receivables | 40 | €44,914 | €66,144 | +€21,230 | +47.3% |
| Other amounts receivable | 41 | €42,184 | €68,947 | +€26,763 | +63.4% |
| Cash at bank and in hand | 54/58 | €1,111 | €1,953 | +€842 | +75.8% |
| Deferred charges and accrued income | 490/1 | €1,413 | €435 | -€978 | -69.2% |
| Total equity and liabilities | 10/49 | €99,696 | €195,199 | +€95,503 | +95.8% |
| Equity | 10/15 | €56,074 | €101,205 | +€45,132 | +80.5% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,074 | €94,205 | +€45,132 | +92.0% |
| Amounts payable | 17/49 | €43,622 | €93,993 | +€50,371 | +115% |
| Amounts payable after more than one year | 17 | - | €30,461 | +€30,461 | |
| Financial debts | 170/4 | - | €30,461 | +€30,461 | |
| Amounts payable within one year | 42/48 | €43,622 | €60,952 | +€17,330 | +39.7% |
| Current portion of amounts payable after more than one year | 42 | €5,733 | €8,762 | +€3,030 | +52.8% |
| Trade debts | 44 | €14,418 | €17,379 | +€2,961 | +20.5% |
| Suppliers | 440/4 | €14,418 | €17,379 | +€2,961 | +20.5% |
| Taxes, remuneration and social security | 45 | €7,321 | €14,751 | +€7,430 | +101% |
| Taxes | 450/3 | €7,321 | €14,751 | +€7,430 | +101% |
| Other amounts payable | 47/48 | €16,150 | €20,060 | +€3,910 | +24.2% |
| Accrued charges and deferred income | 492/3 | - | €2,580 | +€2,580 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,969 | €8,342 | -€627 | -7.0% |
| Other operating charges | 640/8 | €657 | €4,357 | +€3,700 | +563% |
| Gross operating margin | 9900 | €57,605 | €101,055 | +€43,450 | +75.4% |
| Operating profit (loss) | 9901 | €47,979 | €88,356 | +€40,377 | +84.2% |
| Financial income | 75/76B | €1,020 | €552 | -€468 | -45.9% |
| Recurring financial income | 75 | €1,020 | €552 | -€468 | -45.9% |
| Financial charges | 65/66B | €624 | €1,587 | +€963 | +154% |
| Recurring financial charges | 65 | €624 | €1,587 | +€963 | +154% |
| Profit (loss) for the period before taxes | 9903 | €48,375 | €87,321 | +€38,946 | +80.5% |
| Income taxes | 67/77 | €9,857 | €18,589 | +€8,733 | +88.6% |
| Profit (loss) for the period | 9904 | €38,519 | €68,732 | +€30,213 | +78.4% |
| Profit (loss) for the period to be appropriated | 9905 | €38,519 | €68,732 | +€30,213 | +78.4% |
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 27 October 2026 via checked.be.