VETALGUS: what changed
Two fiscal 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.
VETALGUS
Largest movements
- Stocks and contracts -€5,198
down €5,198 (-61.8%), from €8,407 to €3,209
- Receivables within one year -€1,917
down €1,917 (-56.6%), from €3,388 to €1,470
of which Trade receivables: -€2,054
- Cash -€1,109
down €1,109 (-25.9%), from €4,273 to €3,165
mainly Trade debts (-€4,719) and Net result for the year (-€3,706)
- Formation expenses -€956
down €956 (-26.2%), from €3,643 to €2,687
- Intangible fixed assets -€550
down €550 (-20.7%), from €2,657 to €2,107
- Trade debts -€4,719
down €4,719 (-90.8%), from €5,198 to €480
- Profit (loss) carried forward -€3,706
down €3,706 (-63.4%), from €5,848 to €2,142
- Tax, wage and social debts -€1,311
down €1,311 (-100.0%), from €1,311 to €0
- Gross operating margin -€10,965
down €10,965, from €9,285 to -€1,680
- Taxes -€1,311
down €1,311 (-100.0%), from €1,311 to €0
- Other operating charges -€401
down €401 (-50.1%), from €801 to €400
- Depreciation +€276
up €276 (+22.5%), from €1,229 to €1,506
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 | €22,367 | €12,637 | -€9,730 | -43.5% |
| Formation expenses | 20 | €3,643 | €2,687 | -€956 | -26.2% |
| Fixed assets | 21/28 | €2,657 | €2,107 | -€550 | -20.7% |
| Intangible fixed assets | 21 | €2,657 | €2,107 | -€550 | -20.7% |
| Current assets | 29/58 | €16,068 | €7,844 | -€8,224 | -51.2% |
| Stocks and contracts in progress | 3 | €8,407 | €3,209 | -€5,198 | -61.8% |
| Stocks | 30/36 | €8,407 | €3,209 | -€5,198 | -61.8% |
| Amounts receivable within one year | 40/41 | €3,388 | €1,470 | -€1,917 | -56.6% |
| Trade receivables | 40 | €2,743 | €688 | -€2,054 | -74.9% |
| Other amounts receivable | 41 | €645 | €782 | +€137 | +21.2% |
| Cash at bank and in hand | 54/58 | €4,273 | €3,165 | -€1,109 | -25.9% |
| Total equity and liabilities | 10/49 | €22,367 | €12,637 | -€9,730 | -43.5% |
| Equity | 10/15 | €15,848 | €12,142 | -€3,706 | -23.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,848 | €2,142 | -€3,706 | -63.4% |
| Amounts payable | 17/49 | €6,519 | €495 | -€6,024 | -92.4% |
| Amounts payable within one year | 42/48 | €6,510 | €480 | -€6,030 | -92.6% |
| Trade debts | 44 | €5,198 | €480 | -€4,719 | -90.8% |
| Suppliers | 440/4 | €5,198 | €480 | -€4,719 | -90.8% |
| Taxes, remuneration and social security | 45 | €1,311 | €0 | -€1,311 | -100.0% |
| Taxes | 450/3 | €1,311 | €0 | -€1,311 | -100.0% |
| Accrued charges and deferred income | 492/3 | €9 | €16 | +€6 | +65.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,229 | €1,506 | +€276 | +22.5% |
| Other operating charges | 640/8 | €801 | €400 | -€401 | -50.1% |
| Gross operating margin | 9900 | €9,285 | -€1,680 | -€10,965 | |
| Operating profit (loss) | 9901 | €7,256 | -€3,586 | -€10,841 | |
| Financial income | 75/76B | €27 | €1 | -€26 | -98.0% |
| Recurring financial income | 75 | €27 | €1 | -€26 | -98.0% |
| Financial charges | 65/66B | €123 | €121 | -€2 | -1.3% |
| Recurring financial charges | 65 | €123 | €121 | -€2 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €7,160 | -€3,706 | -€10,866 | |
| Income taxes | 67/77 | €1,311 | €0 | -€1,311 | -100.0% |
| Profit (loss) for the period | 9904 | €5,848 | -€3,706 | -€9,554 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,848 | -€3,706 | -€9,554 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.