VEWI: 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.
What changed
VEWI
NACE 10.850, Manufacture of food products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€926,161
2024 · €778,074+€148,087
Equity
€2.7m
2024 · €2.0m+€743,415
Cash
€487,337
2024 · €382,206+€105,131
Balance sheet total
€5.4m
2024 · €4.7m+€742,952
Largest movements
Assets
- Current investments +€815,271
new in 2025: €815,271
- Tangible fixed assets -€216,740
down €216,740 (-8.8%), from €2.5m to €2.3m
- Stocks and contracts +€116,644
up €116,644 (+19.8%), from €590,565 to €707,209
- Cash +€105,131
up €105,131 (+27.5%), from €382,206 to €487,337
mainly Net result for the year (+€926,161) and Depreciation (+€408,233)
- Receivables within one year -€73,411
down €73,411 (-6.1%), from €1.2m to €1.1m
of which Other amounts receivable: -€99,778
Equity and liabilities
- Reserves +€416,412
up €416,412 (+37.4%), from €1.1m to €1.5m
of which Distributable reserves: +€389,415
- Trade debts +€368,560
up €368,560 (+39.5%), from €932,801 to €1.3m
- Profit (loss) carried forward +€351,728
up €351,728, from -€349,749 to €1,979
- Short-term financial debts -€272,503
down €272,503 (-55.2%), from €494,002 to €221,499
- Debts after one year -€230,437
down €230,437 (-31.9%), from €721,823 to €491,386
Income statement
- Gross operating margin +€511,081
up €511,081 (+22.0%), from €2.3m to €2.8m
- Taxes +€161,377
up €161,377 (+78.3%), from €206,054 to €367,432
- Staff costs +€137,810
up €137,810 (+15.6%), from €885,562 to €1.0m
- Depreciation +€38,828
up €38,828 (+10.5%), from €369,405 to €408,233
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.
Result 2024
€778,074
Gross operating margin
+€511,081
Staff costs
-€137,810
Depreciation
-€38,828
Other operating charges
-€385
Other operating items
-€1,555
Financial income
-€2,226
Financial charges
-€20,812
Taxes
-€161,377
Result 2025
€926,161
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.
From operations
+€1.8m
Investment
-€1.0m
Financing
-€719,624
Cash 2024
€382,206
From operations (derived)
+€1.8m
Net result for the year
+€926,161
Depreciation
+€408,233
Stocks and contracts
-€116,644
Receivables within one year
+€73,411
Deferred charges and accrued income
+€3,942
Trade debts
+€368,560
Tax, wage and social debts
+€63,501
Other debts
+€106,502
Accrued charges and deferred income
-€2,148
Investment (derived)
-€1.0m
Investment in fixed assets (net)
-€191,493
Current investments
-€815,271
Financing
-€719,624
Debts after one year
-€230,437
Current portion of long-term debt
-€33,938
Short-term financial debts
-€272,503
Contributions, distributions and other
-€182,746
Cash 2025
€487,337
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,665,488 | €5,408,441 | +€742,952 | +15.9% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €2,475,978 | €2,259,238 | -€216,740 | -8.8% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €2,475,728 | €2,258,988 | -€216,740 | -8.8% |
| Land and buildings | 22 | €855,287 | €784,259 | -€71,029 | -8.3% |
| Plant, machinery and equipment | 23 | €1,124,222 | €1,082,406 | -€41,815 | -3.7% |
| Furniture and vehicles | 24 | €47,046 | €29,236 | -€17,811 | -37.9% |
| Leasing and similar rights | 25 | €449,172 | €363,087 | -€86,085 | -19.2% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €2,189,510 | €3,149,203 | +€959,693 | +43.8% |
| Stocks and contracts in progress | 3 | €590,565 | €707,209 | +€116,644 | +19.8% |
| Stocks | 30/36 | €590,565 | €707,209 | +€116,644 | +19.8% |
| Amounts receivable within one year | 40/41 | €1,209,412 | €1,136,002 | -€73,411 | -6.1% |
| Trade receivables | 40 | €918,328 | €944,695 | +€26,367 | +2.9% |
| Other amounts receivable | 41 | €291,085 | €191,307 | -€99,778 | -34.3% |
| Current investments | 50/53 | - | €815,271 | +€815,271 | |
| Cash at bank and in hand | 54/58 | €382,206 | €487,337 | +€105,131 | +27.5% |
| Deferred charges and accrued income | 490/1 | €7,326 | €3,385 | -€3,942 | -53.8% |
| Total equity and liabilities | 10/49 | €4,665,488 | €5,408,441 | +€742,952 | +15.9% |
| Equity | 10/15 | €1,980,081 | €2,723,496 | +€743,415 | +37.5% |
| Contributions | 10/11 | €591,000 | €591,000 | = | 0.0% |
| Capital | 10 | €591,000 | €591,000 | = | 0.0% |
| Issued capital | 100 | €591,000 | €591,000 | = | 0.0% |
| Revaluation surpluses | 12 | €442,542 | €442,542 | = | 0.0% |
| Reserves | 13 | €1,114,400 | €1,530,812 | +€416,412 | +37.4% |
| Non-distributable reserves | 130/1 | €16,400 | €43,397 | +€26,997 | +164.6% |
| Legal reserve | 130 | €16,400 | €43,397 | +€26,997 | +164.6% |
| Tax-exempt reserves | 132 | €246,800 | €246,800 | = | 0.0% |
| Distributable reserves | 133 | €851,200 | €1,240,615 | +€389,415 | +45.7% |
| Profit (loss) carried forward | 14 | -€349,749 | €1,979 | +€351,728 | |
| Investment grants | 15 | €181,888 | €157,163 | -€24,725 | -13.6% |
| Amounts payable | 17/49 | €2,685,407 | €2,684,944 | -€463 | 0.0% |
| Amounts payable after more than one year | 17 | €721,823 | €491,386 | -€230,437 | -31.9% |
| Financial debts | 170/4 | €721,823 | €491,386 | -€230,437 | -31.9% |
| Amounts payable within one year | 42/48 | €1,956,212 | €2,188,335 | +€232,123 | +11.9% |
| Current portion of amounts payable after more than one year | 42 | €288,681 | €254,743 | -€33,938 | -11.8% |
| Financial debts | 43 | €494,002 | €221,499 | -€272,503 | -55.2% |
| Credit institutions | 430/8 | €494,002 | €221,499 | -€272,503 | -55.2% |
| Trade debts | 44 | €932,801 | €1,301,362 | +€368,560 | +39.5% |
| Suppliers | 440/4 | €932,801 | €1,301,362 | +€368,560 | +39.5% |
| Taxes, remuneration and social security | 45 | €175,670 | €239,171 | +€63,501 | +36.1% |
| Taxes | 450/3 | €21,413 | €36,461 | +€15,048 | +70.3% |
| Remuneration and social security | 454/9 | €154,257 | €202,710 | +€48,453 | +31.4% |
| Other amounts payable | 47/48 | €65,058 | €171,560 | +€106,502 | +163.7% |
| Accrued charges and deferred income | 492/3 | €7,372 | €5,224 | -€2,148 | -29.1% |
| Non-recurring operating income | 76A | - | €679,500 | +€679,500 | |
| Remuneration, social security and pensions | 62 | €885,562 | €1,023,373 | +€137,810 | +15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €369,405 | €408,233 | +€38,828 | +10.5% |
| Other operating charges | 640/8 | €44,758 | €45,142 | +€385 | +0.9% |
| Non-recurring operating charges | 66A | €0 | €1,555 | +€1,555 | |
| Gross operating margin | 9900 | €2,327,272 | €2,838,353 | +€511,081 | +22.0% |
| Operating profit (loss) | 9901 | €1,027,547 | €1,360,049 | +€332,503 | +32.4% |
| Financial income | 75/76B | €27,110 | €24,884 | -€2,226 | -8.2% |
| Recurring financial income | 75 | €27,110 | €24,884 | -€2,226 | -8.2% |
| Financial charges | 65/66B | €70,528 | €91,340 | +€20,812 | +29.5% |
| Recurring financial charges | 65 | €70,528 | €88,343 | +€17,815 | +25.3% |
| Non-recurring financial charges | 66B | - | €2,998 | +€2,998 | |
| Profit (loss) for the period before taxes | 9903 | €984,129 | €1,293,593 | +€309,464 | +31.4% |
| Income taxes | 67/77 | €206,054 | €367,432 | +€161,377 | +78.3% |
| Profit (loss) for the period | 9904 | €778,074 | €926,161 | +€148,087 | +19.0% |
| Transfer to tax-exempt reserves | 689 | €210,500 | €0 | -€210,500 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €567,574 | €926,161 | +€358,587 | +63.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.