Veton: 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.
Veton
Largest movements
- Receivables within one year -€102,690
down €102,690 (-56.7%), from €181,178 to €78,488
- Cash -€21,891
down €21,891 (-25.9%), from €84,623 to €62,732
mainly Net result for the year (-€449,791) and Current portion of long-term debt (-€148,519)
- Intangible fixed assets -€18,691
down €18,691 (-16.0%), from €116,732 to €98,041
- Stocks and contracts +€15,542
up €15,542 (+12.4%), from €125,514 to €141,056
- Profit (loss) carried forward -€449,791
down €449,791 (-85.2%), from -€528,055 to -€977,847
- Contributions +€350,000
up €350,000 (+109.3%), from €320,250 to €670,250
- Debts after one year +€192,192
up €192,192 (+76.3%), from €251,911 to €444,103
- Current portion of long-term debt -€148,519
down €148,519 (-78.3%), from €189,664 to €41,145
- Trade debts -€66,465
down €66,465 (-38.6%), from €172,156 to €105,691
- Gross operating margin -€195,544
down €195,544 (-1958.2%), from -€9,986 to -€205,530
- Financial charges +€11,097
up €11,097 (+56.2%), from €19,759 to €30,856
- Staff costs -€8,736
down €8,736 (-4.8%), from €182,927 to €174,191
- Depreciation +€7,427
up €7,427 (+23.0%), from €32,264 to €39,691
- Write-downs -€5,058
down €5,058, from €3,339 to -€1,719
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 | €535,683 | €400,467 | -€135,215 | -25.2% |
| Fixed assets | 21/28 | €140,253 | €116,437 | -€23,816 | -17.0% |
| Intangible fixed assets | 21 | €116,732 | €98,041 | -€18,691 | -16.0% |
| Tangible fixed assets | 22/27 | €17,421 | €12,295 | -€5,126 | -29.4% |
| Plant, machinery and equipment | 23 | €15,466 | €10,452 | -€5,015 | -32.4% |
| Furniture and vehicles | 24 | €1,955 | €1,844 | -€111 | -5.7% |
| Financial fixed assets | 28 | €6,100 | €6,100 | = | 0.0% |
| Current assets | 29/58 | €395,430 | €284,031 | -€111,399 | -28.2% |
| Stocks and contracts in progress | 3 | €125,514 | €141,056 | +€15,542 | +12.4% |
| Stocks | 30/36 | €125,514 | €141,056 | +€15,542 | +12.4% |
| Amounts receivable within one year | 40/41 | €181,178 | €78,488 | -€102,690 | -56.7% |
| Trade receivables | 40 | €181,178 | €78,488 | -€102,690 | -56.7% |
| Cash at bank and in hand | 54/58 | €84,623 | €62,732 | -€21,891 | -25.9% |
| Deferred charges and accrued income | 490/1 | €4,116 | €1,755 | -€2,360 | -57.4% |
| Total equity and liabilities | 10/49 | €535,683 | €400,467 | -€135,215 | -25.2% |
| Equity | 10/15 | -€207,805 | -€307,597 | -€99,791 | -48.0% |
| Contributions | 10/11 | €320,250 | €670,250 | +€350,000 | +109.3% |
| Profit (loss) carried forward | 14 | -€528,055 | -€977,847 | -€449,791 | -85.2% |
| Amounts payable | 17/49 | €743,488 | €708,064 | -€35,424 | -4.8% |
| Amounts payable after more than one year | 17 | €251,911 | €444,103 | +€192,192 | +76.3% |
| Financial debts | 170/4 | €251,911 | €444,103 | +€192,192 | +76.3% |
| Amounts payable within one year | 42/48 | €477,343 | €263,678 | -€213,665 | -44.8% |
| Current portion of amounts payable after more than one year | 42 | €189,664 | €41,145 | -€148,519 | -78.3% |
| Financial debts | 43 | €80,190 | €75,000 | -€5,190 | -6.5% |
| Credit institutions | 430/8 | €80,190 | €75,000 | -€5,190 | -6.5% |
| Other loans | 439 | - | €0 | = | |
| Trade debts | 44 | €172,156 | €105,691 | -€66,465 | -38.6% |
| Suppliers | 440/4 | €172,156 | €105,691 | -€66,465 | -38.6% |
| Taxes, remuneration and social security | 45 | €35,333 | €41,842 | +€6,508 | +18.4% |
| Taxes | 450/3 | €9,572 | €25,219 | +€15,648 | +163.5% |
| Remuneration and social security | 454/9 | €25,762 | €16,623 | -€9,139 | -35.5% |
| Accrued charges and deferred income | 492/3 | €14,234 | €283 | -€13,950 | -98.0% |
| Non-recurring operating income | 76A | €4,953 | €0 | -€4,953 | -100.0% |
| Remuneration, social security and pensions | 62 | €182,927 | €174,191 | -€8,736 | -4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,264 | €39,691 | +€7,427 | +23.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,339 | -€1,719 | -€5,058 | |
| Other operating charges | 640/8 | €1,829 | €2,009 | +€181 | +9.9% |
| Gross operating margin | 9900 | -€9,986 | -€205,530 | -€195,544 | -1958.2% |
| Operating profit (loss) | 9901 | -€230,344 | -€419,702 | -€189,358 | -82.2% |
| Financial income | 75/76B | - | €864 | +€864 | |
| Recurring financial income | 75 | - | €864 | +€864 | |
| Financial charges | 65/66B | €19,759 | €30,856 | +€11,097 | +56.2% |
| Recurring financial charges | 65 | €19,759 | €30,856 | +€11,097 | +56.2% |
| Profit (loss) for the period before taxes | 9903 | -€250,103 | -€449,694 | -€199,591 | -79.8% |
| Income taxes | 67/77 | €176 | €97 | -€79 | -44.9% |
| Profit (loss) for the period | 9904 | -€250,280 | -€449,791 | -€199,512 | -79.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€250,280 | -€449,791 | -€199,512 | -79.7% |
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 12 October 2026 via checked.be.