Vet Immanagement: 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.
What changed
Vet Immanagement
NACE 75.000, Veterinary services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€35,338
2024 · -€28,433-€6,904
Equity
€262,878
2024 · €298,215-€35,338
Cash
€7,213
2024 · €8,975-€1,763
Balance sheet total
€1.1m
2024 · €1.2m-€103,699
Largest movements
Assets
- Tangible fixed assets -€65,604
down €65,604 (-6.2%), from €1.1m to €995,249
- Receivables within one year -€36,128
down €36,128 (-42.1%), from €85,911 to €49,783
of which Trade receivables: -€27,787
Equity and liabilities
- Debts after one year -€57,940
down €57,940 (-8.3%), from €696,600 to €638,660
of which Financial debts: -€72,585
- Profit (loss) carried forward -€25,351
down €25,351, from €23,452 to -€1,899
Income statement
- Gross operating margin -€31,109
down €31,109 (-26.4%), from €117,953 to €86,844
- Depreciation -€14,117
down €14,117 (-12.2%), from €115,524 to €101,406
- Other operating charges -€7,863
down €7,863 (-57.2%), from €13,750 to €5,888
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
-€28,433
Gross operating margin
-€31,109
Depreciation
+€14,117
Other operating charges
+€7,863
Financial income
+€244
Financial charges
+€855
Taxes
+€43
Deferred taxes and other
+€1,083
Result 2025
-€35,338
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€90,160
Investment
-€35,802
Financing
-€56,120
Cash 2024
€8,975
From operations (derived)
+€90,160
Net result for the year
-€35,338
Depreciation
+€101,406
Receivables within one year
+€36,128
Deferred charges and accrued income
+€204
Provisions
-€2,497
Trade debts
-€10,520
Tax, wage and social debts
-€4,159
Other debts
-€631
Accrued charges and deferred income
+€5,566
Investment (derived)
-€35,802
Investment in fixed assets (net)
-€35,802
Financing
-€56,120
Debts after one year
-€57,940
Current portion of long-term debt
+€1,820
Cash 2025
€7,213
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,164,025 | €1,060,327 | -€103,699 | -8.9% |
| Fixed assets | 21/28 | €1,060,853 | €995,249 | -€65,604 | -6.2% |
| Tangible fixed assets | 22/27 | €1,060,853 | €995,249 | -€65,604 | -6.2% |
| Land and buildings | 22 | €655,296 | €622,975 | -€32,321 | -4.9% |
| Plant, machinery and equipment | 23 | €341,934 | €324,299 | -€17,634 | -5.2% |
| Furniture and vehicles | 24 | €63,623 | €47,974 | -€15,649 | -24.6% |
| Current assets | 29/58 | €103,173 | €65,078 | -€38,094 | -36.9% |
| Amounts receivable within one year | 40/41 | €85,911 | €49,783 | -€36,128 | -42.1% |
| Trade receivables | 40 | €75,373 | €47,587 | -€27,787 | -36.9% |
| Other amounts receivable | 41 | €10,538 | €2,196 | -€8,342 | -79.2% |
| Cash at bank and in hand | 54/58 | €8,975 | €7,213 | -€1,763 | -19.6% |
| Deferred charges and accrued income | 490/1 | €8,286 | €8,082 | -€204 | -2.5% |
| Total equity and liabilities | 10/49 | €1,164,025 | €1,060,327 | -€103,699 | -8.9% |
| Equity | 10/15 | €298,215 | €262,878 | -€35,338 | -11.8% |
| Contributions | 10/11 | €11,988 | €11,988 | = | 0.0% |
| Reserves | 13 | €262,776 | €252,789 | -€9,987 | -3.8% |
| Non-distributable reserves | 130/1 | €1,199 | €1,199 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,199 | €1,199 | = | 0.0% |
| Tax-exempt reserves | 132 | €190,557 | €180,570 | -€9,987 | -5.2% |
| Distributable reserves | 133 | €71,020 | €71,020 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,452 | -€1,899 | -€25,351 | |
| Provisions and deferred taxes | 16 | €47,639 | €45,143 | -€2,497 | -5.2% |
| Deferred taxes | 168 | €47,639 | €45,143 | -€2,497 | -5.2% |
| Amounts payable | 17/49 | €818,171 | €752,307 | -€65,864 | -8.1% |
| Amounts payable after more than one year | 17 | €696,600 | €638,660 | -€57,940 | -8.3% |
| Financial debts | 170/4 | €487,487 | €414,902 | -€72,585 | -14.9% |
| Other amounts payable | 178/9 | €209,113 | €223,758 | +€14,645 | +7.0% |
| Amounts payable within one year | 42/48 | €104,768 | €91,278 | -€13,490 | -12.9% |
| Current portion of amounts payable after more than one year | 42 | €70,765 | €72,585 | +€1,820 | +2.6% |
| Trade debts | 44 | €20,456 | €9,935 | -€10,520 | -51.4% |
| Suppliers | 440/4 | €20,456 | €9,935 | -€10,520 | -51.4% |
| Taxes, remuneration and social security | 45 | €11,977 | €7,818 | -€4,159 | -34.7% |
| Taxes | 450/3 | €11,977 | €7,818 | -€4,159 | -34.7% |
| Other amounts payable | 47/48 | €1,570 | €940 | -€631 | -40.2% |
| Accrued charges and deferred income | 492/3 | €16,802 | €22,368 | +€5,566 | +33.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,524 | €101,406 | -€14,117 | -12.2% |
| Other operating charges | 640/8 | €13,750 | €5,888 | -€7,863 | -57.2% |
| Gross operating margin | 9900 | €117,953 | €86,844 | -€31,109 | -26.4% |
| Operating profit (loss) | 9901 | -€11,321 | -€20,450 | -€9,129 | -80.6% |
| Financial income | 75/76B | - | €244 | +€244 | |
| Recurring financial income | 75 | - | €244 | +€244 | |
| Financial charges | 65/66B | €17,927 | €17,072 | -€855 | -4.8% |
| Recurring financial charges | 65 | €17,927 | €17,072 | -€855 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | -€29,248 | -€37,278 | -€8,030 | -27.5% |
| Transfer from deferred taxes | 780 | €1,414 | €2,497 | +€1,083 | +76.6% |
| Income taxes | 67/77 | €599 | €556 | -€43 | -7.2% |
| Profit (loss) for the period | 9904 | -€28,433 | -€35,338 | -€6,904 | -24.3% |
| Transfer from tax-exempt reserves | 789 | €5,656 | €9,987 | +€4,331 | +76.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,778 | -€25,351 | -€2,573 | -11.3% |
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 22 October 2026 via checked.be.