VETOFAMENNE: 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.
VETOFAMENNE
Largest movements
- Cash +€51,942
up €51,942 (+22.9%), from €227,290 to €279,232
mainly Net result for the year (+€80,423) and Depreciation (+€46,680)
- Receivables within one year +€35,182
up €35,182 (+69.5%), from €50,596 to €85,778
of which Trade receivables: +€33,549
- Tangible fixed assets -€21,895
down €21,895 (-8.7%), from €251,193 to €229,298
of which Plant, machinery and equipment: -€46,036
- Reserves +€106,182
up €106,182 (+30.3%), from €349,860 to €456,042
of which Distributable reserves: +€106,182
- Profit (loss) carried forward -€47,259
down €47,259 (-99.1%), from €47,688 to €429
- Other debts +€16,794
up €16,794 (+195%), from €8,606 to €25,400
- Debts after one year -€14,246
down €14,246 (-16.1%), from €88,219 to €73,973
- Trade debts +€11,214
up €11,214 (+75.7%), from €14,822 to €26,036
- Gross operating margin +€38,660
up €38,660 (+22.6%), from €171,265 to €209,925
- Staff costs +€16,004
up €16,004 (+49.1%), from €32,572 to €48,576
- Taxes +€6,036
up €6,036 (+25.7%), from €23,456 to €29,492
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 | €568,873 | €634,209 | +€65,336 | +11.5% |
| Fixed assets | 21/28 | €252,893 | €230,998 | -€21,895 | -8.7% |
| Tangible fixed assets | 22/27 | €251,193 | €229,298 | -€21,895 | -8.7% |
| Land and buildings | 22 | €141,591 | €129,250 | -€12,341 | -8.7% |
| Plant, machinery and equipment | 23 | €67,292 | €21,256 | -€46,036 | -68.4% |
| Furniture and vehicles | 24 | €42,310 | €78,792 | +€36,482 | +86.2% |
| Financial fixed assets | 28 | €1,700 | €1,700 | = | 0.0% |
| Current assets | 29/58 | €315,980 | €403,211 | +€87,231 | +27.6% |
| Stocks and contracts in progress | 3 | €30,140 | €33,863 | +€3,723 | +12.4% |
| Stocks | 30/36 | €30,140 | €33,863 | +€3,723 | +12.4% |
| Amounts receivable within one year | 40/41 | €50,596 | €85,778 | +€35,182 | +69.5% |
| Trade receivables | 40 | €50,596 | €84,145 | +€33,549 | +66.3% |
| Other amounts receivable | 41 | - | €1,633 | +€1,633 | |
| Cash at bank and in hand | 54/58 | €227,290 | €279,232 | +€51,942 | +22.9% |
| Deferred charges and accrued income | 490/1 | €7,954 | €4,338 | -€3,616 | -45.5% |
| Total equity and liabilities | 10/49 | €568,873 | €634,209 | +€65,336 | +11.5% |
| Equity | 10/15 | €409,948 | €468,871 | +€58,923 | +14.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €349,860 | €456,042 | +€106,182 | +30.3% |
| 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 | €348,000 | €454,182 | +€106,182 | +30.5% |
| Profit (loss) carried forward | 14 | €47,688 | €429 | -€47,259 | -99.1% |
| Amounts payable | 17/49 | €158,925 | €165,338 | +€6,413 | +4.0% |
| Amounts payable after more than one year | 17 | €88,219 | €73,973 | -€14,246 | -16.1% |
| Financial debts | 170/4 | €88,219 | €73,973 | -€14,246 | -16.1% |
| Amounts payable within one year | 42/48 | €70,452 | €91,210 | +€20,758 | +29.5% |
| Current portion of amounts payable after more than one year | 42 | €18,725 | €14,246 | -€4,479 | -23.9% |
| Trade debts | 44 | €14,822 | €26,036 | +€11,214 | +75.7% |
| Suppliers | 440/4 | €14,822 | €26,036 | +€11,214 | +75.7% |
| Taxes, remuneration and social security | 45 | €28,299 | €25,528 | -€2,771 | -9.8% |
| Taxes | 450/3 | €22,065 | €20,142 | -€1,923 | -8.7% |
| Remuneration and social security | 454/9 | €6,234 | €5,386 | -€848 | -13.6% |
| Other amounts payable | 47/48 | €8,606 | €25,400 | +€16,794 | +195% |
| Accrued charges and deferred income | 492/3 | €254 | €155 | -€99 | -39.0% |
| Remuneration, social security and pensions | 62 | €32,572 | €48,576 | +€16,004 | +49.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,007 | €46,680 | +€673 | +1.5% |
| Other operating charges | 640/8 | €2,413 | €2,962 | +€549 | +22.8% |
| Gross operating margin | 9900 | €171,265 | €209,925 | +€38,660 | +22.6% |
| Operating profit (loss) | 9901 | €90,273 | €111,707 | +€21,434 | +23.7% |
| Financial income | 75/76B | €1,099 | €857 | -€242 | -22.0% |
| Recurring financial income | 75 | €1,099 | €857 | -€242 | -22.0% |
| Financial charges | 65/66B | €3,021 | €2,649 | -€372 | -12.3% |
| Recurring financial charges | 65 | €3,021 | €2,649 | -€372 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €88,351 | €109,915 | +€21,564 | +24.4% |
| Income taxes | 67/77 | €23,456 | €29,492 | +€6,036 | +25.7% |
| Profit (loss) for the period | 9904 | €64,895 | €80,423 | +€15,528 | +23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €64,895 | €80,423 | +€15,528 | +23.9% |
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 25 October 2026 via checked.be.