VETIM: 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.
VETIM
Largest movements
- Cash +€25,699
up €25,699 (+44.9%), from €57,223 to €82,922
mainly Net result for the year (+€29,546) and Receivables within one year (+€3,853)
- Receivables within one year -€3,853
down €3,853 (-19.5%), from €19,752 to €15,899
of which Trade receivables: -€3,853
- Tangible fixed assets -€1,213
down €1,213 (-30.4%), from €3,988 to €2,774
- Reserves +€29,546
up €29,546 (+98.4%), from €30,014 to €59,561
of which Distributable reserves: +€29,546
- Tax, wage and social debts -€6,945
down €6,945 (-43.0%), from €16,146 to €9,201
of which Remuneration and social security: -€5,500
- Other debts -€2,804
down €2,804 (-12.6%), from €22,172 to €19,369
- Gross operating margin +€11,893
up €11,893 (+35.4%), from €33,560 to €45,452
- Taxes +€4,296
up €4,296 (+42.9%), from €10,013 to €14,309
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 | €81,200 | €101,670 | +€20,470 | +25.2% |
| Fixed assets | 21/28 | €3,988 | €2,774 | -€1,213 | -30.4% |
| Tangible fixed assets | 22/27 | €3,988 | €2,774 | -€1,213 | -30.4% |
| Furniture and vehicles | 24 | €3,988 | €2,774 | -€1,213 | -30.4% |
| Current assets | 29/58 | €77,213 | €98,896 | +€21,683 | +28.1% |
| Amounts receivable within one year | 40/41 | €19,752 | €15,899 | -€3,853 | -19.5% |
| Trade receivables | 40 | €19,752 | €15,899 | -€3,853 | -19.5% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €57,223 | €82,922 | +€25,699 | +44.9% |
| Deferred charges and accrued income | 490/1 | €237 | €74 | -€163 | -68.9% |
| Total equity and liabilities | 10/49 | €81,200 | €101,670 | +€20,470 | +25.2% |
| Equity | 10/15 | €42,414 | €71,961 | +€29,546 | +69.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €30,014 | €59,561 | +€29,546 | +98.4% |
| Non-distributable reserves | 130/1 | €1,316 | €1,316 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,316 | €1,316 | = | 0.0% |
| Distributable reserves | 133 | €28,698 | €58,245 | +€29,546 | +103.0% |
| Amounts payable | 17/49 | €38,786 | €29,709 | -€9,076 | -23.4% |
| Amounts payable within one year | 42/48 | €38,786 | €29,709 | -€9,076 | -23.4% |
| Trade debts | 44 | €468 | €1,140 | +€672 | +143.7% |
| Suppliers | 440/4 | €468 | €1,140 | +€672 | +143.7% |
| Taxes, remuneration and social security | 45 | €16,146 | €9,201 | -€6,945 | -43.0% |
| Taxes | 450/3 | €10,146 | €8,701 | -€1,445 | -14.2% |
| Remuneration and social security | 454/9 | €6,000 | €500 | -€5,500 | -91.7% |
| Other amounts payable | 47/48 | €22,172 | €19,369 | -€2,804 | -12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,099 | €1,213 | +€114 | +10.4% |
| Other operating charges | 640/8 | €100 | €190 | +€90 | +90.0% |
| Gross operating margin | 9900 | €33,560 | €45,452 | +€11,893 | +35.4% |
| Operating profit (loss) | 9901 | €32,360 | €44,049 | +€11,689 | +36.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €216 | €194 | -€22 | -10.3% |
| Recurring financial charges | 65 | €216 | €194 | -€22 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €32,144 | €43,856 | +€11,711 | +36.4% |
| Income taxes | 67/77 | €10,013 | €14,309 | +€4,296 | +42.9% |
| Profit (loss) for the period | 9904 | €22,131 | €29,546 | +€7,415 | +33.5% |
| Profit (loss) for the period to be appropriated | 9905 | €22,131 | €29,546 | +€7,415 | +33.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.