VEVA: 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.
VEVA
Largest movements
- Receivables within one year +€79,208
up €79,208 (+19.8%), from €400,860 to €480,067
of which Trade receivables: +€102,171
- Receivables after one year +€70,241
new in 2025: €70,241
- Cash +€38,603
up €38,603 (+115.4%), from €33,456 to €72,058
mainly Advances received (+€229,878) and Net result for the year (+€57,736)
- Advances received +€229,878
up €229,878 (+191.6%), from €120,000 to €349,878
- Accrued charges and deferred income -€119,765
down €119,765 (-100.0%), from €119,765 to €0
- Reserves +€57,736
up €57,736 (+48.9%), from €118,109 to €175,844
- Tax, wage and social debts +€17,102
up €17,102 (+131.2%), from €13,036 to €30,138
- Gross operating margin +€41,475
up €41,475 (+89.4%), from €46,418 to €87,893
- Taxes +€21,311
up €21,311 (+252.4%), from €8,444 to €29,755
- Financial income +€3,566
new in 2025: €3,566
- Depreciation -€972
down €972 (-97.5%), from €997 to €25
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 | €461,656 | €648,982 | +€187,326 | +40.6% |
| Fixed assets | 21/28 | €1,223 | €1,198 | -€25 | -2.0% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €25 | €0 | -€25 | -100.0% |
| Furniture and vehicles | 24 | €25 | €0 | -€25 | -100.0% |
| Financial fixed assets | 28 | €1,198 | €1,198 | = | 0.0% |
| Current assets | 29/58 | €460,433 | €647,784 | +€187,351 | +40.7% |
| Amounts receivable after more than one year | 29 | - | €70,241 | +€70,241 | |
| Other amounts receivable | 291 | - | €70,241 | +€70,241 | |
| Stocks and contracts in progress | 3 | €26,118 | €25,418 | -€700 | -2.7% |
| Stocks | 30/36 | €26,118 | €25,418 | -€700 | -2.7% |
| Amounts receivable within one year | 40/41 | €400,860 | €480,067 | +€79,208 | +19.8% |
| Trade receivables | 40 | €293,431 | €395,603 | +€102,171 | +34.8% |
| Other amounts receivable | 41 | €107,428 | €84,465 | -€22,964 | -21.4% |
| Cash at bank and in hand | 54/58 | €33,456 | €72,058 | +€38,603 | +115.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €461,656 | €648,982 | +€187,326 | +40.6% |
| Equity | 10/15 | €187,080 | €244,816 | +€57,736 | +30.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €118,109 | €175,844 | +€57,736 | +48.9% |
| Distributable reserves | 133 | €118,109 | €175,844 | +€57,736 | +48.9% |
| Profit (loss) carried forward | 14 | €50,371 | €50,371 | = | 0.0% |
| Amounts payable | 17/49 | €274,576 | €404,166 | +€129,590 | +47.2% |
| Amounts payable within one year | 42/48 | €154,811 | €404,166 | +€249,355 | +161.1% |
| Trade debts | 44 | €21,775 | €24,150 | +€2,375 | +10.9% |
| Suppliers | 440/4 | €21,775 | €24,150 | +€2,375 | +10.9% |
| Advances received on contracts in progress | 46 | €120,000 | €349,878 | +€229,878 | +191.6% |
| Taxes, remuneration and social security | 45 | €13,036 | €30,138 | +€17,102 | +131.2% |
| Taxes | 450/3 | €13,036 | €30,138 | +€17,102 | +131.2% |
| Accrued charges and deferred income | 492/3 | €119,765 | €0 | -€119,765 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €997 | €25 | -€972 | -97.5% |
| Other operating charges | 640/8 | €1,502 | €1,470 | -€32 | -2.1% |
| Gross operating margin | 9900 | €46,418 | €87,893 | +€41,475 | +89.4% |
| Operating profit (loss) | 9901 | €43,920 | €86,399 | +€42,479 | +96.7% |
| Financial income | 75/76B | - | €3,566 | +€3,566 | |
| Recurring financial income | 75 | - | €3,566 | +€3,566 | |
| Financial charges | 65/66B | €2,081 | €2,473 | +€392 | +18.8% |
| Recurring financial charges | 65 | €2,081 | €2,473 | +€392 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | €41,839 | €87,491 | +€45,653 | +109.1% |
| Income taxes | 67/77 | €8,444 | €29,755 | +€21,311 | +252.4% |
| Profit (loss) for the period | 9904 | €33,395 | €57,736 | +€24,341 | +72.9% |
| Profit (loss) for the period to be appropriated | 9905 | €33,395 | €57,736 | +€24,341 | +72.9% |
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 8 October 2026 via checked.be.