VETRO: what changed
Two fiscal 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.
VETRO
Largest movements
- Cash +€5,439
up €5,439 (+4.8%), from €113,859 to €119,299
mainly Net result for the year (+€23,803) and Receivables within one year (+€1,649)
- Reserves +€22,970
up €22,970 (+191.0%), from €12,027 to €34,997
- Provisions -€20,260
no longer reported in 2025 (was €20,260)
- Gross operating margin +€7,557
up €7,557 (+26.0%), from €29,065 to €36,622
- Taxes -€4,082
down €4,082 (-26.4%), from €15,478 to €11,396
- Financial income +€1,390
up €1,390 (+194.1%), from €716 to €2,106
- Financial charges -€1,046
down €1,046 (-85.5%), from €1,224 to €178
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 | €227,626 | €230,412 | +€2,786 | +1.2% |
| Fixed assets | 21/28 | €45,782 | €44,779 | -€1,004 | -2.2% |
| Tangible fixed assets | 22/27 | €45,782 | €44,779 | -€1,004 | -2.2% |
| Land and buildings | 22 | €44,169 | €44,062 | -€108 | -0.2% |
| Furniture and vehicles | 24 | €1,613 | €717 | -€896 | -55.6% |
| Current assets | 29/58 | €181,844 | €185,634 | +€3,790 | +2.1% |
| Stocks and contracts in progress | 3 | €5,827 | €5,827 | = | 0.0% |
| Stocks | 30/36 | €5,827 | €5,827 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €6,264 | €4,615 | -€1,649 | -26.3% |
| Trade receivables | 40 | €1,934 | €2,102 | +€168 | +8.7% |
| Other amounts receivable | 41 | €4,330 | €2,512 | -€1,818 | -42.0% |
| Current investments | 50/53 | €55,893 | €55,893 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €113,859 | €119,299 | +€5,439 | +4.8% |
| Total equity and liabilities | 10/49 | €227,626 | €230,412 | +€2,786 | +1.2% |
| Equity | 10/15 | €184,525 | €207,495 | +€22,970 | +12.4% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €12,027 | €34,997 | +€22,970 | +191.0% |
| Distributable reserves | 133 | €12,027 | €34,997 | +€22,970 | +191.0% |
| Profit (loss) carried forward | 14 | €147,709 | €147,709 | = | 0.0% |
| Provisions and deferred taxes | 16 | €20,260 | - | -€20,260 | |
| Provisions for liabilities and charges | 160/5 | €20,260 | - | -€20,260 | |
| Major repairs and maintenance | 162 | €20,260 | - | -€20,260 | |
| Amounts payable | 17/49 | €22,840 | €22,917 | +€77 | +0.3% |
| Amounts payable within one year | 42/48 | €22,840 | €22,917 | +€77 | +0.3% |
| Trade debts | 44 | €9,239 | €10,586 | +€1,347 | +14.6% |
| Suppliers | 440/4 | €9,239 | €10,586 | +€1,347 | +14.6% |
| Taxes, remuneration and social security | 45 | €7,827 | €5,878 | -€1,949 | -24.9% |
| Taxes | 450/3 | €7,827 | €5,878 | -€1,949 | -24.9% |
| Other amounts payable | 47/48 | €5,775 | €6,454 | +€679 | +11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,004 | €1,004 | = | 0.0% |
| Other operating charges | 640/8 | €2,527 | €2,348 | -€179 | -7.1% |
| Gross operating margin | 9900 | €29,065 | €36,622 | +€7,557 | +26.0% |
| Operating profit (loss) | 9901 | €25,534 | €33,271 | +€7,737 | +30.3% |
| Financial income | 75/76B | €716 | €2,106 | +€1,390 | +194.1% |
| Recurring financial income | 75 | €716 | €2,106 | +€1,390 | +194.1% |
| Financial charges | 65/66B | €1,224 | €178 | -€1,046 | -85.5% |
| Recurring financial charges | 65 | €1,224 | €178 | -€1,046 | -85.5% |
| Profit (loss) for the period before taxes | 9903 | €25,026 | €35,198 | +€10,173 | +40.6% |
| Income taxes | 67/77 | €15,478 | €11,396 | -€4,082 | -26.4% |
| Profit (loss) for the period | 9904 | €9,548 | €23,803 | +€14,255 | +149.3% |
| Profit (loss) for the period to be appropriated | 9905 | €9,548 | €23,803 | +€14,255 | +149.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.