VEWOOD: 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.
VEWOOD
Largest movements
- Stocks and contracts -€643,779
down €643,779 (-19.4%), from €3.3m to €2.7m
- Cash +€151,663
up €151,663 (+292.2%), from €51,896 to €203,559
mainly Stocks and contracts (+€643,779) and Depreciation (+€260,731)
- Tangible fixed assets +€119,229
up €119,229 (+3.9%), from €3.1m to €3.2m
of which Land and buildings: +€133,778
- Receivables within one year +€88,425
up €88,425 (+11.6%), from €764,560 to €852,986
of which Trade receivables: +€93,233
- Trade debts -€419,629
down €419,629 (-90.2%), from €465,413 to €45,784
- Debts after one year -€168,003
down €168,003 (-8.9%), from €1.9m to €1.7m
- Reserves +€138,237
up €138,237 (+9.0%), from €1.5m to €1.7m
of which Distributable reserves: +€138,237
- Other debts +€95,339
up €95,339 (+32.0%), from €297,563 to €392,902
- Gross operating margin +€247,686
up €247,686 (+26.9%), from €919,595 to €1.2m
- Other operating charges +€97,314
up €97,314 (+126.0%), from €77,231 to €174,545
- Depreciation +€57,165
up €57,165 (+28.1%), from €203,566 to €260,731
- Taxes +€37,492
up €37,492 (+57.5%), from €65,256 to €102,748
- Financial charges -€33,229
down €33,229 (-27.9%), from €119,152 to €85,923
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 | €7,340,139 | €6,991,325 | -€348,814 | -4.8% |
| Fixed assets | 21/28 | €3,089,447 | €3,208,675 | +€119,229 | +3.9% |
| Tangible fixed assets | 22/27 | €3,089,447 | €3,208,675 | +€119,229 | +3.9% |
| Land and buildings | 22 | €3,056,904 | €3,190,681 | +€133,778 | +4.4% |
| Plant, machinery and equipment | 23 | €8,684 | €5,228 | -€3,456 | -39.8% |
| Furniture and vehicles | 24 | €23,859 | €12,766 | -€11,093 | -46.5% |
| Current assets | 29/58 | €4,250,692 | €3,782,650 | -€468,042 | -11.0% |
| Stocks and contracts in progress | 3 | €3,326,593 | €2,682,814 | -€643,779 | -19.4% |
| Stocks | 30/36 | €3,326,593 | €2,682,814 | -€643,779 | -19.4% |
| Amounts receivable within one year | 40/41 | €764,560 | €852,986 | +€88,425 | +11.6% |
| Trade receivables | 40 | €759,751 | €852,984 | +€93,233 | +12.3% |
| Other amounts receivable | 41 | €4,810 | €2 | -€4,808 | -100.0% |
| Cash at bank and in hand | 54/58 | €51,896 | €203,559 | +€151,663 | +292.2% |
| Deferred charges and accrued income | 490/1 | €107,643 | €43,292 | -€64,351 | -59.8% |
| Total equity and liabilities | 10/49 | €7,340,139 | €6,991,325 | -€348,814 | -4.8% |
| Equity | 10/15 | €4,354,294 | €4,483,956 | +€129,662 | +3.0% |
| Contributions | 10/11 | €2,620,000 | €2,620,000 | = | 0.0% |
| Revaluation surpluses | 12 | €355,747 | €347,172 | -€8,575 | -2.4% |
| Reserves | 13 | €1,533,499 | €1,671,735 | +€138,237 | +9.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,533,499 | €1,671,735 | +€138,237 | +9.0% |
| Profit (loss) carried forward | 14 | -€154,952 | -€154,952 | = | 0.0% |
| Amounts payable | 17/49 | €2,985,845 | €2,507,369 | -€478,476 | -16.0% |
| Amounts payable after more than one year | 17 | €1,879,655 | €1,711,652 | -€168,003 | -8.9% |
| Financial debts | 170/4 | €1,879,655 | €1,711,652 | -€168,003 | -8.9% |
| Amounts payable within one year | 42/48 | €1,057,759 | €758,617 | -€299,141 | -28.3% |
| Current portion of amounts payable after more than one year | 42 | €228,350 | €238,557 | +€10,207 | +4.5% |
| Trade debts | 44 | €465,413 | €45,784 | -€419,629 | -90.2% |
| Suppliers | 440/4 | €465,413 | €45,784 | -€419,629 | -90.2% |
| Taxes, remuneration and social security | 45 | €66,432 | €81,375 | +€14,942 | +22.5% |
| Taxes | 450/3 | €51,817 | €66,577 | +€14,760 | +28.5% |
| Remuneration and social security | 454/9 | €14,616 | €14,798 | +€182 | +1.2% |
| Other amounts payable | 47/48 | €297,563 | €392,902 | +€95,339 | +32.0% |
| Accrued charges and deferred income | 492/3 | €48,431 | €37,100 | -€11,331 | -23.4% |
| Remuneration, social security and pensions | 62 | €308,327 | €311,054 | +€2,727 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €203,566 | €260,731 | +€57,165 | +28.1% |
| Other operating charges | 640/8 | €77,231 | €174,545 | +€97,314 | +126.0% |
| Non-recurring operating charges | 66A | - | €4,596 | +€4,596 | |
| Gross operating margin | 9900 | €919,595 | €1,167,281 | +€247,686 | +26.9% |
| Operating profit (loss) | 9901 | €330,470 | €416,355 | +€85,885 | +26.0% |
| Financial income | 75/76B | €1,315 | €1,978 | +€663 | +50.4% |
| Recurring financial income | 75 | €1,315 | €1,978 | +€663 | +50.4% |
| Financial charges | 65/66B | €119,152 | €85,923 | -€33,229 | -27.9% |
| Recurring financial charges | 65 | €119,152 | €85,923 | -€33,229 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | €212,633 | €332,410 | +€119,776 | +56.3% |
| Income taxes | 67/77 | €65,256 | €102,748 | +€37,492 | +57.5% |
| Profit (loss) for the period | 9904 | €147,378 | €229,662 | +€82,284 | +55.8% |
| Profit (loss) for the period to be appropriated | 9905 | €147,378 | €229,662 | +€82,284 | +55.8% |
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 12 October 2026 via checked.be.