VETOBRAINE: 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.
VETOBRAINE
Largest movements
- Receivables within one year +€201,562
up €201,562 (+236%), from €85,451 to €287,013
of which Trade receivables: +€212,790
- Financial fixed assets +€160,733
up €160,733 (+62,542%), from €257 to €160,990
- Tangible fixed assets -€33,982
down €33,982 (-22.8%), from €149,265 to €115,284
of which Plant, machinery and equipment: -€19,610
- Stocks and contracts -€14,866
down €14,866 (-45.8%), from €32,467 to €17,600
- Intangible fixed assets -€14,156
down €14,156 (-100%), from €14,156 to €0
- Reserves +€174,940
up €174,940 (+158%), from €110,900 to €285,840
of which Distributable reserves: +€203,164
- Other debts +€146,817
up €146,817 (+385%), from €38,100 to €184,917
- Tax, wage and social debts +€44,736
up €44,736 (+319%), from €14,028 to €58,765
of which Taxes: +€39,988
- Debts after one year -€40,637
down €40,637 (-35.7%), from €113,735 to €73,098
- Trade debts -€16,040
down €16,040 (-50.2%), from €31,951 to €15,911
- Financial income +€221,320
up €221,320 (+60,312%), from €367 to €221,687
of which Non-recurring financial income: +€212,584
- Taxes +€58,443
up €58,443 (+440%), from €13,288 to €71,731
- Gross operating margin -€25,256
down €25,256 (-23.5%), from €107,576 to €82,320
- Depreciation -€10,960
down €10,960 (-43.8%), from €25,010 to €14,050
- Staff costs +€9,793
up €9,793 (+38.1%), from €25,686 to €35,478
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 | €377,717 | €686,277 | +€308,560 | +81.7% |
| Fixed assets | 21/28 | €163,679 | €276,273 | +€112,595 | +68.8% |
| Intangible fixed assets | 21 | €14,156 | €0 | -€14,156 | -100% |
| Tangible fixed assets | 22/27 | €149,265 | €115,284 | -€33,982 | -22.8% |
| Land and buildings | 22 | €52,414 | €48,122 | -€4,291 | -8.2% |
| Plant, machinery and equipment | 23 | €86,575 | €66,965 | -€19,610 | -22.7% |
| Furniture and vehicles | 24 | €10,277 | €197 | -€10,080 | -98.1% |
| Financial fixed assets | 28 | €257 | €160,990 | +€160,733 | +62,542% |
| Current assets | 29/58 | €214,038 | €410,004 | +€195,965 | +91.6% |
| Stocks and contracts in progress | 3 | €32,467 | €17,600 | -€14,866 | -45.8% |
| Stocks | 30/36 | €32,467 | €17,600 | -€14,866 | -45.8% |
| Amounts receivable within one year | 40/41 | €85,451 | €287,013 | +€201,562 | +236% |
| Trade receivables | 40 | €73,994 | €286,783 | +€212,790 | +288% |
| Other amounts receivable | 41 | €11,457 | €230 | -€11,227 | -98.0% |
| Current investments | 50/53 | €30,926 | €34,890 | +€3,964 | +12.8% |
| Cash at bank and in hand | 54/58 | €59,088 | €65,000 | +€5,912 | +10.0% |
| Deferred charges and accrued income | 490/1 | €6,107 | €5,500 | -€607 | -9.9% |
| Total equity and liabilities | 10/49 | €377,717 | €686,277 | +€308,560 | +81.7% |
| Equity | 10/15 | €136,040 | €310,984 | +€174,944 | +129% |
| Contributions | 10/11 | €24,000 | €24,000 | = | 0.0% |
| Reserves | 13 | €110,900 | €285,840 | +€174,940 | +158% |
| Non-distributable reserves | 130/1 | €28,224 | €0 | -€28,224 | -100% |
| Own shares acquired | 1312 | €28,224 | €0 | -€28,224 | -100% |
| Distributable reserves | 133 | €82,676 | €285,840 | +€203,164 | +246% |
| Profit (loss) carried forward | 14 | €1,140 | €1,144 | +€4 | +0.4% |
| Amounts payable | 17/49 | €241,677 | €375,293 | +€133,615 | +55.3% |
| Amounts payable after more than one year | 17 | €113,735 | €73,098 | -€40,637 | -35.7% |
| Financial debts | 170/4 | €113,735 | €73,098 | -€40,637 | -35.7% |
| Amounts payable within one year | 42/48 | €127,000 | €301,255 | +€174,255 | +137% |
| Current portion of amounts payable after more than one year | 42 | €41,907 | €40,637 | -€1,270 | -3.0% |
| Financial debts | 43 | €1,013 | €1,026 | +€13 | +1.2% |
| Credit institutions | 430/8 | €1,013 | €1,026 | +€13 | +1.2% |
| Trade debts | 44 | €31,951 | €15,911 | -€16,040 | -50.2% |
| Suppliers | 440/4 | €31,951 | €15,911 | -€16,040 | -50.2% |
| Taxes, remuneration and social security | 45 | €14,028 | €58,765 | +€44,736 | +319% |
| Taxes | 450/3 | €14,028 | €54,016 | +€39,988 | +285% |
| Remuneration and social security | 454/9 | - | €4,749 | +€4,749 | |
| Other amounts payable | 47/48 | €38,100 | €184,917 | +€146,817 | +385% |
| Accrued charges and deferred income | 492/3 | €942 | €939 | -€2 | -0.2% |
| Remuneration, social security and pensions | 62 | €25,686 | €35,478 | +€9,793 | +38.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,010 | €14,050 | -€10,960 | -43.8% |
| Other operating charges | 640/8 | €2,171 | €3,451 | +€1,280 | +59.0% |
| Gross operating margin | 9900 | €107,576 | €82,320 | -€25,256 | -23.5% |
| Operating profit (loss) | 9901 | €54,709 | €29,340 | -€25,369 | -46.4% |
| Financial income | 75/76B | €367 | €221,687 | +€221,320 | +60,312% |
| Recurring financial income | 75 | €367 | €9,103 | +€8,736 | +2,381% |
| Non-recurring financial income | 76B | €0 | €212,584 | +€212,584 | |
| Financial charges | 65/66B | €4,325 | €4,352 | +€27 | +0.6% |
| Recurring financial charges | 65 | €4,325 | €4,352 | +€27 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €50,750 | €246,675 | +€195,925 | +386% |
| Income taxes | 67/77 | €13,288 | €71,731 | +€58,443 | +440% |
| Profit (loss) for the period | 9904 | €37,463 | €174,944 | +€137,482 | +367% |
| Profit (loss) for the period to be appropriated | 9905 | €37,463 | €174,944 | +€137,482 | +367% |
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 31 October 2026 via checked.be.