VETA: 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
VETA
NACE 43.320, Joinery installation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€50,858
2024 · €27,624+€23,234
Equity
€2.2m
2024 · €2.2m+€50,858
Cash
€347,842
2024 · €764,928-€417,087
Balance sheet total
€5.7m
2024 · €5.7m-€74,143
Largest movements
Assets
- Tangible fixed assets +€427,789
up €427,789 (+11.7%), from €3.6m to €4.1m
of which Land and buildings: +€459,048
- Cash -€417,087
down €417,087 (-54.5%), from €764,928 to €347,842
mainly Investment in fixed assets (net) (-€642,194) and Debts after one year (-€147,626)
- Receivables within one year -€111,486
down €111,486 (-24.6%), from €454,080 to €342,595
of which Trade receivables: -€123,899
Equity and liabilities
- Advances received +€229,567
new in 2025: €229,567
- Debts after one year -€147,626
down €147,626 (-5.8%), from €2.5m to €2.4m
- Short-term financial debts -€100,000
down €100,000 (-33.3%), from €300,000 to €200,000
Income statement
- Gross operating margin +€77,578
up €77,578 (+5.3%), from €1.5m to €1.5m
- Other operating charges +€46,688
up €46,688 (+117%), from €39,743 to €86,431
- Staff costs +€25,845
up €25,845 (+2.3%), from €1.1m to €1.1m
- Financial charges -€24,615
down €24,615 (-31.6%), from €77,996 to €53,382
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
€27,624
Gross operating margin
+€77,578
Staff costs
-€25,845
Depreciation
-€9,591
Other operating charges
-€46,688
Other operating items
+€2,640
Financial income
+€1,433
Financial charges
+€24,615
Taxes
-€908
Result 2025
€50,858
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
+€492,685
Investment
-€642,194
Financing
-€267,578
Cash 2024
€764,928
From operations (derived)
+€492,685
Net result for the year
+€50,858
Depreciation
+€217,316
Stocks and contracts
+€19,168
Receivables within one year
+€111,486
Deferred charges and accrued income
-€48,719
Trade debts
-€40,409
Tax, wage and social debts
+€5,182
Advances received
+€229,567
Other debts
-€50,692
Accrued charges and deferred income
-€1,070
Investment (derived)
-€642,194
Investment in fixed assets (net)
-€642,194
Financing
-€267,578
Debts after one year
-€147,626
Current portion of long-term debt
-€19,953
Short-term financial debts
-€100,000
Cash 2025
€347,842
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,731,965 | €5,657,822 | -€74,143 | -1.3% |
| Fixed assets | 21/28 | €3,649,261 | €4,074,139 | +€424,878 | +11.6% |
| Intangible fixed assets | 21 | €3,483 | €572 | -€2,911 | -83.6% |
| Tangible fixed assets | 22/27 | €3,643,684 | €4,071,473 | +€427,789 | +11.7% |
| Land and buildings | 22 | €3,375,894 | €3,834,942 | +€459,048 | +13.6% |
| Plant, machinery and equipment | 23 | €100,674 | €107,144 | +€6,470 | +6.4% |
| Furniture and vehicles | 24 | €37,786 | €35,224 | -€2,562 | -6.8% |
| Leasing and similar rights | 25 | €129,331 | €94,163 | -€35,168 | -27.2% |
| Financial fixed assets | 28 | €2,094 | €2,094 | = | 0.0% |
| Current assets | 29/58 | €2,082,704 | €1,583,682 | -€499,021 | -24.0% |
| Stocks and contracts in progress | 3 | €851,818 | €832,650 | -€19,168 | -2.3% |
| Stocks | 30/36 | €851,818 | €832,650 | -€19,168 | -2.3% |
| Amounts receivable within one year | 40/41 | €454,080 | €342,595 | -€111,486 | -24.6% |
| Trade receivables | 40 | €445,220 | €321,321 | -€123,899 | -27.8% |
| Other amounts receivable | 41 | €8,860 | €21,274 | +€12,414 | +140% |
| Cash at bank and in hand | 54/58 | €764,928 | €347,842 | -€417,087 | -54.5% |
| Deferred charges and accrued income | 490/1 | €11,877 | €60,596 | +€48,719 | +410% |
| Total equity and liabilities | 10/49 | €5,731,965 | €5,657,822 | -€74,143 | -1.3% |
| Equity | 10/15 | €2,155,540 | €2,206,398 | +€50,858 | +2.4% |
| Contributions | 10/11 | €1,932,849 | €1,932,849 | = | 0.0% |
| Capital | 10 | €1,932,849 | €1,932,849 | = | 0.0% |
| Issued capital | 100 | €1,932,849 | €1,932,849 | = | 0.0% |
| Reserves | 13 | €222,692 | €273,549 | +€50,858 | +22.8% |
| Non-distributable reserves | 130/1 | €12,060 | €12,060 | = | 0.0% |
| Legal reserve | 130 | €12,060 | €12,060 | = | 0.0% |
| Distributable reserves | 133 | €210,632 | €261,489 | +€50,858 | +24.1% |
| Amounts payable | 17/49 | €3,576,424 | €3,451,423 | -€125,001 | -3.5% |
| Amounts payable after more than one year | 17 | €2,529,697 | €2,382,071 | -€147,626 | -5.8% |
| Financial debts | 170/4 | €2,529,697 | €2,382,071 | -€147,626 | -5.8% |
| Amounts payable within one year | 42/48 | €1,043,620 | €1,067,314 | +€23,695 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | €224,301 | €204,348 | -€19,953 | -8.9% |
| Financial debts | 43 | €300,000 | €200,000 | -€100,000 | -33.3% |
| Credit institutions | 430/8 | €300,000 | €200,000 | -€100,000 | -33.3% |
| Trade debts | 44 | €355,187 | €314,778 | -€40,409 | -11.4% |
| Suppliers | 440/4 | €355,187 | €314,778 | -€40,409 | -11.4% |
| Advances received on contracts in progress | 46 | - | €229,567 | +€229,567 | |
| Taxes, remuneration and social security | 45 | €109,822 | €115,004 | +€5,182 | +4.7% |
| Taxes | 450/3 | €35,550 | €17,115 | -€18,436 | -51.9% |
| Remuneration and social security | 454/9 | €74,271 | €97,889 | +€23,618 | +31.8% |
| Other amounts payable | 47/48 | €54,310 | €3,618 | -€50,692 | -93.3% |
| Accrued charges and deferred income | 492/3 | €3,108 | €2,038 | -€1,070 | -34.4% |
| Non-recurring operating income | 76A | €28,937 | €11,629 | -€17,307 | -59.8% |
| Remuneration, social security and pensions | 62 | €1,116,846 | €1,142,691 | +€25,845 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €207,725 | €217,316 | +€9,591 | +4.6% |
| Other operating charges | 640/8 | €39,743 | €86,431 | +€46,688 | +117% |
| Non-recurring operating charges | 66A | €2,640 | - | -€2,640 | |
| Gross operating margin | 9900 | €1,470,853 | €1,548,431 | +€77,578 | +5.3% |
| Operating profit (loss) | 9901 | €103,899 | €101,994 | -€1,905 | -1.8% |
| Financial income | 75/76B | €17,929 | €19,362 | +€1,433 | +8.0% |
| Recurring financial income | 75 | €17,929 | €19,362 | +€1,433 | +8.0% |
| Financial charges | 65/66B | €77,996 | €53,382 | -€24,615 | -31.6% |
| Recurring financial charges | 65 | €77,996 | €53,382 | -€24,615 | -31.6% |
| Profit (loss) for the period before taxes | 9903 | €43,831 | €67,974 | +€24,143 | +55.1% |
| Income taxes | 67/77 | €16,207 | €17,116 | +€908 | +5.6% |
| Profit (loss) for the period | 9904 | €27,624 | €50,858 | +€23,234 | +84.1% |
| Profit (loss) for the period to be appropriated | 9905 | €27,624 | €50,858 | +€23,234 | +84.1% |
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 15 October 2026 via checked.be.