VETOLINE: 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.
VETOLINE
Largest movements
- Financial fixed assets -€52,118
down €52,118 (-98.3%), from €52,993 to €875
- Receivables within one year +€47,684
up €47,684 (+178.9%), from €26,655 to €74,339
of which Trade receivables: +€51,285
- Tangible fixed assets -€10,521
down €10,521 (-21.7%), from €48,578 to €38,057
of which Furniture and vehicles: -€9,183
- Intangible fixed assets -€10,000
down €10,000 (-12.3%), from €81,233 to €71,233
- Deferred charges and accrued income +€9,983
up €9,983 (+1262.5%), from €791 to €10,774
- Trade debts +€53,957
up €53,957 (+357.2%), from €15,107 to €69,063
- Other debts -€48,494
down €48,494 (-69.4%), from €69,893 to €21,399
- Debts after one year -€26,547
down €26,547 (-28.5%), from €92,989 to €66,443
- Reserves +€21,000
up €21,000 (+36.5%), from €57,500 to €78,500
- Current portion of long-term debt -€17,253
down €17,253 (-39.4%), from €43,800 to €26,547
- Gross operating margin -€27,349
down €27,349 (-30.1%), from €90,840 to €63,491
- Taxes -€4,713
down €4,713 (-42.5%), from €11,078 to €6,365
- Financial charges -€3,795
down €3,795 (-27.4%), from €13,855 to €10,060
- Other operating charges -€1,542
down €1,542 (-46.1%), from €3,343 to €1,801
- Depreciation +€1,399
up €1,399 (+6.2%), from €22,581 to €23,980
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 | €296,942 | €291,859 | -€5,083 | -1.7% |
| Fixed assets | 21/28 | €182,804 | €110,165 | -€72,639 | -39.7% |
| Intangible fixed assets | 21 | €81,233 | €71,233 | -€10,000 | -12.3% |
| Tangible fixed assets | 22/27 | €48,578 | €38,057 | -€10,521 | -21.7% |
| Furniture and vehicles | 24 | €39,246 | €30,063 | -€9,183 | -23.4% |
| Other tangible fixed assets | 26 | €9,332 | €7,994 | -€1,338 | -14.3% |
| Financial fixed assets | 28 | €52,993 | €875 | -€52,118 | -98.3% |
| Current assets | 29/58 | €114,138 | €181,694 | +€67,556 | +59.2% |
| Stocks and contracts in progress | 3 | €16,199 | €21,651 | +€5,452 | +33.7% |
| Stocks | 30/36 | €16,199 | €21,651 | +€5,452 | +33.7% |
| Amounts receivable within one year | 40/41 | €26,655 | €74,339 | +€47,684 | +178.9% |
| Trade receivables | 40 | €8,683 | €59,968 | +€51,285 | +590.7% |
| Other amounts receivable | 41 | €17,972 | €14,371 | -€3,601 | -20.0% |
| Cash at bank and in hand | 54/58 | €70,494 | €74,931 | +€4,437 | +6.3% |
| Deferred charges and accrued income | 490/1 | €791 | €10,774 | +€9,983 | +1262.5% |
| Total equity and liabilities | 10/49 | €296,942 | €291,859 | -€5,083 | -1.7% |
| Equity | 10/15 | €67,596 | €88,921 | +€21,325 | +31.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €57,500 | €78,500 | +€21,000 | +36.5% |
| Distributable reserves | 133 | €57,500 | €78,500 | +€21,000 | +36.5% |
| Profit (loss) carried forward | 14 | €96 | €421 | +€325 | +337.7% |
| Amounts payable | 17/49 | €229,346 | €202,938 | -€26,408 | -11.5% |
| Amounts payable after more than one year | 17 | €92,989 | €66,443 | -€26,547 | -28.5% |
| Financial debts | 170/4 | €92,989 | €66,443 | -€26,547 | -28.5% |
| Amounts payable within one year | 42/48 | €135,683 | €134,664 | -€1,019 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €43,800 | €26,547 | -€17,253 | -39.4% |
| Financial debts | 43 | - | €16,708 | +€16,708 | |
| Credit institutions | 430/8 | - | €16,708 | +€16,708 | |
| Trade debts | 44 | €15,107 | €69,063 | +€53,957 | +357.2% |
| Suppliers | 440/4 | €15,107 | €69,063 | +€53,957 | +357.2% |
| Taxes, remuneration and social security | 45 | €6,883 | €948 | -€5,935 | -86.2% |
| Taxes | 450/3 | €5,133 | €948 | -€4,185 | -81.5% |
| Remuneration and social security | 454/9 | €1,750 | - | -€1,750 | |
| Other amounts payable | 47/48 | €69,893 | €21,399 | -€48,494 | -69.4% |
| Accrued charges and deferred income | 492/3 | €674 | €1,831 | +€1,157 | +171.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,581 | €23,980 | +€1,399 | +6.2% |
| Other operating charges | 640/8 | €3,343 | €1,801 | -€1,542 | -46.1% |
| Gross operating margin | 9900 | €90,840 | €63,491 | -€27,349 | -30.1% |
| Operating profit (loss) | 9901 | €64,917 | €37,710 | -€27,207 | -41.9% |
| Financial income | 75/76B | €24 | €41 | +€17 | +70.1% |
| Recurring financial income | 75 | €24 | €41 | +€17 | +70.1% |
| Financial charges | 65/66B | €13,855 | €10,060 | -€3,795 | -27.4% |
| Recurring financial charges | 65 | €13,855 | €10,060 | -€3,795 | -27.4% |
| Profit (loss) for the period before taxes | 9903 | €51,085 | €27,690 | -€23,395 | -45.8% |
| Income taxes | 67/77 | €11,078 | €6,365 | -€4,713 | -42.5% |
| Profit (loss) for the period | 9904 | €40,007 | €21,325 | -€18,682 | -46.7% |
| Profit (loss) for the period to be appropriated | 9905 | €40,007 | €21,325 | -€18,682 | -46.7% |
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 10 October 2026 via checked.be.