VETARIS: 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.
VETARIS
Largest movements
- Cash -€41,900
down €41,900 (-85.7%), from €48,875 to €6,975
mainly Contributions, distributions and other (-€240,422) and Debts after one year (-€16,838)
- Tangible fixed assets -€21,476
down €21,476 (-19.4%), from €110,796 to €89,320
of which Leasing and similar rights: -€11,811
- Receivables within one year -€5,778
down €5,778 (-21.0%), from €27,558 to €21,780
of which Other amounts receivable: -€5,778
- Reserves -€241,192
down €241,192 (-100%), from €241,192 to €0
of which Distributable reserves: -€239,332
- Other debts +€176,071
up €176,071 (+489%), from €36,000 to €212,071
- Tax, wage and social debts +€28,208
up €28,208 (+198%), from €14,229 to €42,437
- Debts after one year -€16,838
down €16,838 (-70.5%), from €23,890 to €7,052
- Current portion of long-term debt -€14,257
down €14,257 (-45.8%), from €31,095 to €16,838
- Financial income -€50,000
down €50,000 (-100%), from €50,000 to €0
- Gross operating margin -€38,790
down €38,790 (-59.6%), from €65,085 to €26,295
- Financial charges +€1,351
up €1,351 (+124%), from €1,091 to €2,442
- Taxes -€1,281
down €1,281 (-49.4%), from €2,595 to €1,314
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 | €362,229 | €293,075 | -€69,154 | -19.1% |
| Fixed assets | 21/28 | €285,796 | €264,320 | -€21,476 | -7.5% |
| Tangible fixed assets | 22/27 | €110,796 | €89,320 | -€21,476 | -19.4% |
| Land and buildings | 22 | €82,079 | €74,428 | -€7,651 | -9.3% |
| Plant, machinery and equipment | 23 | €1,260 | €840 | -€420 | -33.3% |
| Furniture and vehicles | 24 | €3,835 | €2,240 | -€1,595 | -41.6% |
| Leasing and similar rights | 25 | €23,622 | €11,811 | -€11,811 | -50.0% |
| Financial fixed assets | 28 | €175,000 | €175,000 | = | 0.0% |
| Current assets | 29/58 | €76,433 | €28,755 | -€47,678 | -62.4% |
| Amounts receivable within one year | 40/41 | €27,558 | €21,780 | -€5,778 | -21.0% |
| Trade receivables | 40 | €21,780 | €21,780 | = | 0.0% |
| Other amounts receivable | 41 | €5,778 | €0 | -€5,778 | -100% |
| Cash at bank and in hand | 54/58 | €48,875 | €6,975 | -€41,900 | -85.7% |
| Total equity and liabilities | 10/49 | €362,229 | €293,075 | -€69,154 | -19.1% |
| Equity | 10/15 | €253,592 | €12,400 | -€241,192 | -95.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €241,192 | €0 | -€241,192 | -100% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €239,332 | €0 | -€239,332 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €108,637 | €280,675 | +€172,038 | +158% |
| Amounts payable after more than one year | 17 | €23,890 | €7,052 | -€16,838 | -70.5% |
| Financial debts | 170/4 | €23,890 | €7,052 | -€16,838 | -70.5% |
| Amounts payable within one year | 42/48 | €84,747 | €273,623 | +€188,876 | +223% |
| Current portion of amounts payable after more than one year | 42 | €31,095 | €16,838 | -€14,257 | -45.8% |
| Trade debts | 44 | €3,423 | €2,276 | -€1,147 | -33.5% |
| Suppliers | 440/4 | €3,423 | €2,276 | -€1,147 | -33.5% |
| Taxes, remuneration and social security | 45 | €14,229 | €42,437 | +€28,208 | +198% |
| Taxes | 450/3 | €14,229 | €42,437 | +€28,208 | +198% |
| Other amounts payable | 47/48 | €36,000 | €212,071 | +€176,071 | +489% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,477 | €21,477 | -€0 | 0.0% |
| Other operating charges | 640/8 | €1,805 | €1,833 | +€28 | +1.6% |
| Gross operating margin | 9900 | €65,085 | €26,295 | -€38,790 | -59.6% |
| Operating profit (loss) | 9901 | €41,803 | €2,985 | -€38,818 | -92.9% |
| Financial income | 75/76B | €50,000 | €0 | -€50,000 | -100% |
| Recurring financial income | 75 | €50,000 | €0 | -€50,000 | -100% |
| Financial charges | 65/66B | €1,091 | €2,442 | +€1,351 | +124% |
| Recurring financial charges | 65 | €1,091 | €2,442 | +€1,351 | +124% |
| Profit (loss) for the period before taxes | 9903 | €90,712 | €544 | -€90,168 | -99.4% |
| Income taxes | 67/77 | €2,595 | €1,314 | -€1,281 | -49.4% |
| Profit (loss) for the period | 9904 | €88,117 | -€770 | -€88,887 | |
| Profit (loss) for the period to be appropriated | 9905 | €88,117 | -€770 | -€88,887 |
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.