VETOPLUS: 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.
VETOPLUS
Largest movements
- Receivables within one year +€5,168
up €5,168 (+28.6%), from €18,087 to €23,255
of which Other amounts receivable: +€4,766
- Tangible fixed assets -€4,458
down €4,458 (-19.2%), from €23,222 to €18,764
of which Plant, machinery and equipment: -€5,274
- Stocks and contracts -€3,196
down €3,196 (-6.2%), from €51,408 to €48,213
- Deferred charges and accrued income -€2,618
down €2,618 (-96.3%), from €2,718 to €100
- Cash +€1,231
up €1,231 (+7.4%), from €16,551 to €17,782
mainly Depreciation (+€7,598) and Tax, wage and social debts (+€6,638)
- Profit (loss) carried forward -€11,852
down €11,852 (-18.5%), from €63,985 to €52,133
- Tax, wage and social debts +€6,638
up €6,638 (+32.4%), from €20,478 to €27,115
of which Remuneration and social security: +€6,022
- Trade debts +€6,168
up €6,168 (+42.2%), from €14,632 to €20,800
- Current portion of long-term debt -€4,941
down €4,941 (-96.4%), from €5,123 to €182
- Gross operating margin -€25,265
down €25,265 (-22.5%), from €112,135 to €86,871
- Staff costs +€20,340
up €20,340 (+29.5%), from €68,917 to €89,257
- Taxes -€9,362
no longer reported in 2025 (was €9,362)
- Other operating charges -€1,913
down €1,913 (-75.3%), from €2,541 to €628
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 | €112,459 | €108,290 | -€4,169 | -3.7% |
| Fixed assets | 21/28 | €23,694 | €18,939 | -€4,755 | -20.1% |
| Intangible fixed assets | 21 | €297 | - | -€297 | |
| Tangible fixed assets | 22/27 | €23,222 | €18,764 | -€4,458 | -19.2% |
| Plant, machinery and equipment | 23 | €21,748 | €16,474 | -€5,274 | -24.2% |
| Furniture and vehicles | 24 | €1,475 | €2,291 | +€816 | +55.3% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €88,765 | €89,350 | +€586 | +0.7% |
| Stocks and contracts in progress | 3 | €51,408 | €48,213 | -€3,196 | -6.2% |
| Stocks | 30/36 | €51,408 | €48,213 | -€3,196 | -6.2% |
| Amounts receivable within one year | 40/41 | €18,087 | €23,255 | +€5,168 | +28.6% |
| Trade receivables | 40 | €6,767 | €7,169 | +€403 | +6.0% |
| Other amounts receivable | 41 | €11,320 | €16,086 | +€4,766 | +42.1% |
| Cash at bank and in hand | 54/58 | €16,551 | €17,782 | +€1,231 | +7.4% |
| Deferred charges and accrued income | 490/1 | €2,718 | €100 | -€2,618 | -96.3% |
| Total equity and liabilities | 10/49 | €112,459 | €108,290 | -€4,169 | -3.7% |
| Equity | 10/15 | €72,045 | €60,193 | -€11,852 | -16.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,985 | €52,133 | -€11,852 | -18.5% |
| Amounts payable | 17/49 | €40,414 | €48,097 | +€7,683 | +19.0% |
| Amounts payable after more than one year | 17 | €182 | - | -€182 | |
| Financial debts | 170/4 | €182 | - | -€182 | |
| Amounts payable within one year | 42/48 | €40,232 | €48,097 | +€7,865 | +19.5% |
| Current portion of amounts payable after more than one year | 42 | €5,123 | €182 | -€4,941 | -96.4% |
| Trade debts | 44 | €14,632 | €20,800 | +€6,168 | +42.2% |
| Suppliers | 440/4 | €14,632 | €20,800 | +€6,168 | +42.2% |
| Taxes, remuneration and social security | 45 | €20,478 | €27,115 | +€6,638 | +32.4% |
| Taxes | 450/3 | €9,352 | €9,968 | +€616 | +6.6% |
| Remuneration and social security | 454/9 | €11,125 | €17,147 | +€6,022 | +54.1% |
| Remuneration, social security and pensions | 62 | €68,917 | €89,257 | +€20,340 | +29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,533 | €7,598 | +€65 | +0.9% |
| Other operating charges | 640/8 | €2,541 | €628 | -€1,913 | -75.3% |
| Gross operating margin | 9900 | €112,135 | €86,871 | -€25,265 | -22.5% |
| Operating profit (loss) | 9901 | €33,144 | -€10,613 | -€43,756 | |
| Financial income | 75/76B | €67 | €122 | +€56 | +83.5% |
| Recurring financial income | 75 | €67 | €122 | +€56 | +83.5% |
| Financial charges | 65/66B | €1,031 | €1,362 | +€331 | +32.1% |
| Recurring financial charges | 65 | €1,031 | €1,362 | +€331 | +32.1% |
| Profit (loss) for the period before taxes | 9903 | €32,179 | -€11,852 | -€44,031 | |
| Income taxes | 67/77 | €9,362 | - | -€9,362 | |
| Profit (loss) for the period | 9904 | €22,817 | -€11,852 | -€34,670 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,817 | -€11,852 | -€34,670 |
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 13 October 2026 via checked.be.