VET4US: 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.
VET4US
Largest movements
- Current investments +€70,000
up €70,000 (+70.0%), from €100,000 to €170,000
- Receivables within one year +€63,252
up €63,252 (+158%), from €40,056 to €103,308
of which Other amounts receivable: +€62,931
- Cash -€34,253
down €34,253 (-38.4%), from €89,273 to €55,020
mainly Current investments (-€70,000) and Receivables within one year (-€63,252)
- Tangible fixed assets -€6,116
down €6,116 (-16.4%), from €37,253 to €31,137
of which Furniture and vehicles: -€9,149
- Reserves +€99,818
up €99,818 (+43.2%), from €230,961 to €330,779
- Tax, wage and social debts -€7,397
down €7,397 (-40.4%), from €18,300 to €10,903
- Gross operating margin +€12,116
up €12,116 (+8.7%), from €139,045 to €151,161
- Financial income +€4,116
up €4,116 (+377%), from €1,092 to €5,208
- Depreciation +€3,197
up €3,197 (+32.8%), from €9,747 to €12,944
- Taxes +€3,181
up €3,181 (+9.1%), from €34,833 to €38,015
- Financial charges +€1,519
up €1,519 (+62.9%), from €2,414 to €3,932
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 | €275,623 | €366,107 | +€90,484 | +32.8% |
| Fixed assets | 21/28 | €37,253 | €31,137 | -€6,116 | -16.4% |
| Tangible fixed assets | 22/27 | €37,253 | €31,137 | -€6,116 | -16.4% |
| Plant, machinery and equipment | 23 | €269 | €92 | -€177 | -65.8% |
| Furniture and vehicles | 24 | €36,984 | €27,834 | -€9,149 | -24.7% |
| Other tangible fixed assets | 26 | - | €3,211 | +€3,211 | |
| Current assets | 29/58 | €238,370 | €334,970 | +€96,599 | +40.5% |
| Amounts receivable within one year | 40/41 | €40,056 | €103,308 | +€63,252 | +158% |
| Trade receivables | 40 | €25,427 | €25,748 | +€320 | +1.3% |
| Other amounts receivable | 41 | €14,628 | €77,560 | +€62,931 | +430% |
| Current investments | 50/53 | €100,000 | €170,000 | +€70,000 | +70.0% |
| Cash at bank and in hand | 54/58 | €89,273 | €55,020 | -€34,253 | -38.4% |
| Deferred charges and accrued income | 490/1 | €9,042 | €6,642 | -€2,400 | -26.5% |
| Total equity and liabilities | 10/49 | €275,623 | €366,107 | +€90,484 | +32.8% |
| Equity | 10/15 | €250,961 | €350,779 | +€99,818 | +39.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €230,961 | €330,779 | +€99,818 | +43.2% |
| Distributable reserves | 133 | €230,961 | €330,779 | +€99,818 | +43.2% |
| Amounts payable | 17/49 | €24,662 | €15,327 | -€9,335 | -37.9% |
| Amounts payable within one year | 42/48 | €24,662 | €15,327 | -€9,335 | -37.9% |
| Trade debts | 44 | €6,363 | €4,425 | -€1,938 | -30.5% |
| Suppliers | 440/4 | €6,363 | €4,425 | -€1,938 | -30.5% |
| Taxes, remuneration and social security | 45 | €18,300 | €10,903 | -€7,397 | -40.4% |
| Taxes | 450/3 | €18,300 | €10,903 | -€7,397 | -40.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,747 | €12,944 | +€3,197 | +32.8% |
| Other operating charges | 640/8 | €1,812 | €1,660 | -€152 | -8.4% |
| Gross operating margin | 9900 | €139,045 | €151,161 | +€12,116 | +8.7% |
| Operating profit (loss) | 9901 | €127,486 | €136,557 | +€9,071 | +7.1% |
| Financial income | 75/76B | €1,092 | €5,208 | +€4,116 | +377% |
| Recurring financial income | 75 | €1,092 | €5,208 | +€4,116 | +377% |
| Financial charges | 65/66B | €2,414 | €3,932 | +€1,519 | +62.9% |
| Recurring financial charges | 65 | €2,414 | €3,932 | +€1,519 | +62.9% |
| Profit (loss) for the period before taxes | 9903 | €126,164 | €137,833 | +€11,669 | +9.2% |
| Income taxes | 67/77 | €34,833 | €38,015 | +€3,181 | +9.1% |
| Profit (loss) for the period | 9904 | €91,331 | €99,818 | +€8,488 | +9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €91,331 | €99,818 | +€8,488 | +9.3% |
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 26 October 2026 via checked.be.