VETHERAPY: 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.
VETHERAPY
Largest movements
- Cash +€55,537
up €55,537 (+20.7%), from €267,909 to €323,446
mainly Net result for the year (+€143,335) and Trade debts (+€71,578)
- Stocks and contracts +€17,183
up €17,183 (+40.5%), from €42,386 to €59,568
- Receivables within one year -€11,696
down €11,696 (-5.3%), from €221,222 to €209,526
of which Trade receivables: -€14,197
- Tangible fixed assets -€9,771
down €9,771 (-29.5%), from €33,068 to €23,297
of which Plant, machinery and equipment: -€9,438
- Trade debts +€71,578
up €71,578 (+26.7%), from €268,057 to €339,635
- Other debts -€20,693
down €20,693 (-9.8%), from €211,512 to €190,818
- Reserves +€6,335
up €6,335 (+18.6%), from €33,976 to €40,311
of which Distributable reserves: +€6,335
- Gross operating margin -€37,464
down €37,464 (-18.7%), from €200,334 to €162,870
- Depreciation +€4,972
up €4,972 (+103.6%), from €4,799 to €9,771
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 | €565,201 | €616,443 | +€51,242 | +9.1% |
| Fixed assets | 21/28 | €33,068 | €23,297 | -€9,771 | -29.5% |
| Tangible fixed assets | 22/27 | €33,068 | €23,297 | -€9,771 | -29.5% |
| Plant, machinery and equipment | 23 | €32,346 | €22,908 | -€9,438 | -29.2% |
| Furniture and vehicles | 24 | €722 | €389 | -€333 | -46.2% |
| Current assets | 29/58 | €532,133 | €593,146 | +€61,013 | +11.5% |
| Stocks and contracts in progress | 3 | €42,386 | €59,568 | +€17,183 | +40.5% |
| Stocks | 30/36 | €42,386 | €59,568 | +€17,183 | +40.5% |
| Amounts receivable within one year | 40/41 | €221,222 | €209,526 | -€11,696 | -5.3% |
| Trade receivables | 40 | €220,610 | €206,412 | -€14,197 | -6.4% |
| Other amounts receivable | 41 | €612 | €3,114 | +€2,502 | +408.6% |
| Current investments | 50/53 | €54 | €42 | -€12 | -21.7% |
| Cash at bank and in hand | 54/58 | €267,909 | €323,446 | +€55,537 | +20.7% |
| Deferred charges and accrued income | 490/1 | €563 | €563 | +€1 | +0.1% |
| Total equity and liabilities | 10/49 | €565,201 | €616,443 | +€51,242 | +9.1% |
| Equity | 10/15 | €53,740 | €60,075 | +€6,335 | +11.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €33,976 | €40,311 | +€6,335 | +18.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €32,116 | €38,451 | +€6,335 | +19.7% |
| Profit (loss) carried forward | 14 | €1,164 | €1,164 | = | 0.0% |
| Amounts payable | 17/49 | €511,461 | €556,368 | +€44,907 | +8.8% |
| Amounts payable after more than one year | 17 | €23,383 | €17,452 | -€5,931 | -25.4% |
| Financial debts | 170/4 | €23,383 | €17,452 | -€5,931 | -25.4% |
| Amounts payable within one year | 42/48 | €485,290 | €536,384 | +€51,094 | +10.5% |
| Current portion of amounts payable after more than one year | 42 | €5,721 | €5,931 | +€210 | +3.7% |
| Trade debts | 44 | €268,057 | €339,635 | +€71,578 | +26.7% |
| Suppliers | 440/4 | €268,057 | €339,635 | +€71,578 | +26.7% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €211,512 | €190,818 | -€20,693 | -9.8% |
| Accrued charges and deferred income | 492/3 | €2,788 | €2,532 | -€257 | -9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,799 | €9,771 | +€4,972 | +103.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €607 | -€211 | -€818 | |
| Other operating charges | 640/8 | €2,660 | €2,597 | -€63 | -2.4% |
| Gross operating margin | 9900 | €200,334 | €162,870 | -€37,464 | -18.7% |
| Operating profit (loss) | 9901 | €192,268 | €150,714 | -€41,555 | -21.6% |
| Financial income | 75/76B | €0 | €1 | +€0 | +134.8% |
| Recurring financial income | 75 | €0 | €1 | +€0 | +134.8% |
| Financial charges | 65/66B | €3,637 | €4,423 | +€786 | +21.6% |
| Recurring financial charges | 65 | €3,637 | €4,423 | +€786 | +21.6% |
| Profit (loss) for the period before taxes | 9903 | €188,632 | €146,291 | -€42,340 | -22.4% |
| Income taxes | 67/77 | €2,540 | €2,956 | +€416 | +16.4% |
| Profit (loss) for the period | 9904 | €186,091 | €143,335 | -€42,756 | -23.0% |
| Profit (loss) for the period to be appropriated | 9905 | €186,091 | €143,335 | -€42,756 | -23.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.