VETOVISION: 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.
VETOVISION
Largest movements
- Tangible fixed assets +€42,049
up €42,049 (+9.8%), from €430,702 to €472,751
of which Furniture and vehicles: +€61,908
- Cash -€19,473
down €19,473 (-8.1%), from €240,211 to €220,738
mainly Contributions, distributions and other (-€200,000) and Investment in fixed assets (net) (-€75,613)
- Intangible fixed assets -€10,000
down €10,000 (-33.3%), from €30,000 to €20,000
- Receivables within one year +€9,525
up €9,525 (+678%), from €1,404 to €10,929
of which Other amounts receivable: +€8,908
- Stocks and contracts +€9,281
up €9,281 (+37.9%), from €24,486 to €33,767
- Profit (loss) carried forward -€138,779
down €138,779 (-97.4%), from €142,422 to €3,643
- Other debts +€79,272
up €79,272 (+46.5%), from €170,483 to €249,754
- Reserves +€42,100
up €42,100 (+1,027%), from €4,098 to €46,198
of which Tax-exempt reserves: +€42,100
- Debts after one year +€28,162
up €28,162 (+8.2%), from €341,872 to €370,034
- Tax, wage and social debts +€10,362
up €10,362 (+136%), from €7,643 to €18,006
of which Taxes: +€10,440
- Gross operating margin +€22,184
up €22,184 (+11.4%), from €195,140 to €217,324
- Financial income +€11,956
up €11,956 (+763%), from €1,567 to €13,523
- Taxes +€10,141
up €10,141 (+39.1%), from €25,951 to €36,092
- Depreciation -€6,027
down €6,027 (-12.2%), from €49,591 to €43,564
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 | €729,853 | €760,632 | +€30,778 | +4.2% |
| Fixed assets | 21/28 | €460,702 | €492,751 | +€32,049 | +7.0% |
| Intangible fixed assets | 21 | €30,000 | €20,000 | -€10,000 | -33.3% |
| Tangible fixed assets | 22/27 | €430,702 | €472,751 | +€42,049 | +9.8% |
| Land and buildings | 22 | €375,264 | €357,997 | -€17,267 | -4.6% |
| Plant, machinery and equipment | 23 | €45,059 | €47,887 | +€2,828 | +6.3% |
| Furniture and vehicles | 24 | €4,960 | €66,868 | +€61,908 | +1,248% |
| Leasing and similar rights | 25 | €5,420 | - | -€5,420 | |
| Current assets | 29/58 | €269,151 | €267,880 | -€1,271 | -0.5% |
| Stocks and contracts in progress | 3 | €24,486 | €33,767 | +€9,281 | +37.9% |
| Stocks | 30/36 | €24,486 | €33,767 | +€9,281 | +37.9% |
| Amounts receivable within one year | 40/41 | €1,404 | €10,929 | +€9,525 | +678% |
| Trade receivables | 40 | €1,404 | €2,021 | +€617 | +43.9% |
| Other amounts receivable | 41 | - | €8,908 | +€8,908 | |
| Cash at bank and in hand | 54/58 | €240,211 | €220,738 | -€19,473 | -8.1% |
| Deferred charges and accrued income | 490/1 | €3,049 | €2,445 | -€604 | -19.8% |
| Total equity and liabilities | 10/49 | €729,853 | €760,632 | +€30,778 | +4.2% |
| Equity | 10/15 | €165,120 | €68,441 | -€96,679 | -58.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,098 | €46,198 | +€42,100 | +1,027% |
| Non-distributable reserves | 130/1 | €4,098 | €556 | -€3,543 | -86.4% |
| Reserves not available under the articles | 1311 | €556 | €556 | = | 0.0% |
| Other | 1319 | €3,543 | - | -€3,543 | |
| Tax-exempt reserves | 132 | - | €42,100 | +€42,100 | |
| Distributable reserves | 133 | - | €3,543 | +€3,543 | |
| Profit (loss) carried forward | 14 | €142,422 | €3,643 | -€138,779 | -97.4% |
| Amounts payable | 17/49 | €564,733 | €692,190 | +€127,457 | +22.6% |
| Amounts payable after more than one year | 17 | €341,872 | €370,034 | +€28,162 | +8.2% |
| Financial debts | 170/4 | €341,872 | €370,034 | +€28,162 | +8.2% |
| Amounts payable within one year | 42/48 | €222,861 | €322,157 | +€99,295 | +44.6% |
| Current portion of amounts payable after more than one year | 42 | €39,579 | €40,936 | +€1,358 | +3.4% |
| Trade debts | 44 | €5,157 | €13,460 | +€8,304 | +161% |
| Suppliers | 440/4 | €5,157 | €13,460 | +€8,304 | +161% |
| Taxes, remuneration and social security | 45 | €7,643 | €18,006 | +€10,362 | +136% |
| Taxes | 450/3 | €2,659 | €13,099 | +€10,440 | +393% |
| Remuneration and social security | 454/9 | €4,984 | €4,906 | -€78 | -1.6% |
| Other amounts payable | 47/48 | €170,483 | €249,754 | +€79,272 | +46.5% |
| Remuneration, social security and pensions | 62 | €38,504 | €38,467 | -€37 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,591 | €43,564 | -€6,027 | -12.2% |
| Other operating charges | 640/8 | €3,831 | €3,104 | -€727 | -19.0% |
| Gross operating margin | 9900 | €195,140 | €217,324 | +€22,184 | +11.4% |
| Operating profit (loss) | 9901 | €103,214 | €132,189 | +€28,975 | +28.1% |
| Financial income | 75/76B | €1,567 | €13,523 | +€11,956 | +763% |
| Recurring financial income | 75 | €1,567 | €13,523 | +€11,956 | +763% |
| Financial charges | 65/66B | €6,819 | €6,298 | -€521 | -7.6% |
| Recurring financial charges | 65 | €6,819 | €6,298 | -€521 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €97,962 | €139,414 | +€41,452 | +42.3% |
| Income taxes | 67/77 | €25,951 | €36,092 | +€10,141 | +39.1% |
| Profit (loss) for the period | 9904 | €72,011 | €103,321 | +€31,311 | +43.5% |
| Transfer to tax-exempt reserves | 689 | - | €42,100 | +€42,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €72,011 | €61,221 | -€10,789 | -15.0% |
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 21 October 2026 via checked.be.