VETIVER: 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.
VETIVER
Largest movements
- Stocks and contracts +€288,159
new in 2025: €288,159
- Cash -€28,505
down €28,505 (-61.4%), from €46,430 to €17,924
mainly Stocks and contracts (-€288,159) and Contributions, distributions and other (-€15,500)
- Tangible fixed assets -€4,226
down €4,226 (-38.7%), from €10,913 to €6,687
of which Other tangible fixed assets: -€9,500
- Receivables within one year +€3,754
up €3,754 (+19.6%), from €19,136 to €22,890
of which Other amounts receivable: +€15,714
- Debts after one year +€248,225
new in 2025: €248,225
- Other debts +€16,953
up €16,953, from €0 to €16,953
- Current portion of long-term debt +€13,309
new in 2025: €13,309
- Tax, wage and social debts -€11,902
down €11,902 (-51.3%), from €23,219 to €11,317
- Profit (loss) carried forward -€9,362
down €9,362 (-18.9%), from €49,659 to €40,298
- Other operating charges +€30,202
up €30,202 (+1,926%), from €1,568 to €31,770
- Gross operating margin +€6,379
up €6,379 (+13.8%), from €46,065 to €52,444
- Taxes -€6,246
down €6,246 (-55.2%), from €11,317 to €5,071
- Financial charges +€5,627
up €5,627 (+4,988%), from €113 to €5,739
- Depreciation +€1,066
up €1,066 (+206%), from €518 to €1,584
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 | €77,427 | €337,576 | +€260,149 | +336% |
| Fixed assets | 21/28 | €10,913 | €6,687 | -€4,226 | -38.7% |
| Tangible fixed assets | 22/27 | €10,913 | €6,687 | -€4,226 | -38.7% |
| Furniture and vehicles | 24 | €1,413 | €6,687 | +€5,274 | +373% |
| Other tangible fixed assets | 26 | €9,500 | €0 | -€9,500 | -100% |
| Current assets | 29/58 | €66,514 | €330,889 | +€264,375 | +397% |
| Stocks and contracts in progress | 3 | - | €288,159 | +€288,159 | |
| Stocks | 30/36 | - | €288,159 | +€288,159 | |
| Amounts receivable within one year | 40/41 | €19,136 | €22,890 | +€3,754 | +19.6% |
| Trade receivables | 40 | €18,960 | €7,000 | -€11,960 | -63.1% |
| Other amounts receivable | 41 | €176 | €15,890 | +€15,714 | +8,921% |
| Cash at bank and in hand | 54/58 | €46,430 | €17,924 | -€28,505 | -61.4% |
| Deferred charges and accrued income | 490/1 | €948 | €1,915 | +€967 | +102% |
| Total equity and liabilities | 10/49 | €77,427 | €337,576 | +€260,149 | +336% |
| Equity | 10/15 | €52,659 | €43,298 | -€9,362 | -17.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,659 | €40,298 | -€9,362 | -18.9% |
| Amounts payable | 17/49 | €24,767 | €294,278 | +€269,511 | +1,088% |
| Amounts payable after more than one year | 17 | - | €248,225 | +€248,225 | |
| Financial debts | 170/4 | - | €248,225 | +€248,225 | |
| Amounts payable within one year | 42/48 | €24,767 | €46,053 | +€21,286 | +85.9% |
| Current portion of amounts payable after more than one year | 42 | - | €13,309 | +€13,309 | |
| Financial debts | 43 | - | €1,892 | +€1,892 | |
| Credit institutions | 430/8 | - | €1,892 | +€1,892 | |
| Trade debts | 44 | €1,549 | €2,582 | +€1,033 | +66.7% |
| Suppliers | 440/4 | €1,549 | €2,582 | +€1,033 | +66.7% |
| Taxes, remuneration and social security | 45 | €23,219 | €11,317 | -€11,902 | -51.3% |
| Taxes | 450/3 | €23,219 | €11,317 | -€11,902 | -51.3% |
| Other amounts payable | 47/48 | €0 | €16,953 | +€16,953 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €518 | €1,584 | +€1,066 | +206% |
| Other operating charges | 640/8 | €1,568 | €31,770 | +€30,202 | +1,926% |
| Non-recurring operating charges | 66A | - | €2,500 | +€2,500 | |
| Gross operating margin | 9900 | €46,065 | €52,444 | +€6,379 | +13.8% |
| Operating profit (loss) | 9901 | €43,979 | €16,591 | -€27,388 | -62.3% |
| Financial income | 75/76B | €193 | €358 | +€165 | +85.7% |
| Recurring financial income | 75 | €193 | €358 | +€165 | +85.7% |
| Financial charges | 65/66B | €113 | €5,739 | +€5,627 | +4,988% |
| Recurring financial charges | 65 | €113 | €5,739 | +€5,627 | +4,988% |
| Profit (loss) for the period before taxes | 9903 | €44,059 | €11,209 | -€32,850 | -74.6% |
| Income taxes | 67/77 | €11,317 | €5,071 | -€6,246 | -55.2% |
| Profit (loss) for the period | 9904 | €32,742 | €6,138 | -€26,604 | -81.3% |
| Profit (loss) for the period to be appropriated | 9905 | €32,742 | €6,138 | -€26,604 | -81.3% |
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 20 October 2026 via checked.be.