VEYS-DEVOGHEL: 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.
VEYS-DEVOGHEL
Largest movements
- Cash +€53,662
up €53,662 (+18.0%), from €298,565 to €352,228
mainly Other debts (+€124,166) and Net result for the year (+€50,120)
- Tangible fixed assets -€19,408
down €19,408 (-4.2%), from €463,939 to €444,531
of which Furniture and vehicles: -€14,400
- Other debts +€124,166
up €124,166 (+278.0%), from €44,672 to €168,838
- Reserves -€73,500
down €73,500 (-36.5%), from €201,360 to €127,860
of which Distributable reserves: -€73,500
- Debts after one year -€32,843
down €32,843 (-8.7%), from €378,787 to €345,944
- Trade debts +€18,267
up €18,267 (+1097.7%), from €1,664 to €19,931
- Depreciation -€59,297
down €59,297 (-69.1%), from €85,818 to €26,521
- Staff costs -€17,014
no longer reported in 2025 (was €17,014)
- Taxes +€15,939
up €15,939, from -€939 to €15,000
- Gross operating margin +€14,370
up €14,370 (+14.9%), from €96,226 to €110,596
- Financial charges +€3,350
up €3,350 (+29.4%), from €11,412 to €14,762
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 | €796,095 | €835,297 | +€39,202 | +4.9% |
| Fixed assets | 21/28 | €464,183 | €444,775 | -€19,408 | -4.2% |
| Tangible fixed assets | 22/27 | €463,939 | €444,531 | -€19,408 | -4.2% |
| Land and buildings | 22 | €401,512 | €392,209 | -€9,303 | -2.3% |
| Plant, machinery and equipment | 23 | €11,238 | €15,533 | +€4,295 | +38.2% |
| Furniture and vehicles | 24 | €51,189 | €36,789 | -€14,400 | -28.1% |
| Financial fixed assets | 28 | €244 | €244 | = | 0.0% |
| Current assets | 29/58 | €331,911 | €390,522 | +€58,610 | +17.7% |
| Stocks and contracts in progress | 3 | €4,898 | €4,398 | -€500 | -10.2% |
| Stocks | 30/36 | €4,898 | €4,398 | -€500 | -10.2% |
| Amounts receivable within one year | 40/41 | €26,348 | €33,053 | +€6,706 | +25.5% |
| Trade receivables | 40 | €6,348 | €23,283 | +€16,935 | +266.8% |
| Other amounts receivable | 41 | €20,000 | €9,770 | -€10,230 | -51.1% |
| Cash at bank and in hand | 54/58 | €298,565 | €352,228 | +€53,662 | +18.0% |
| Deferred charges and accrued income | 490/1 | €2,100 | €843 | -€1,257 | -59.9% |
| Total equity and liabilities | 10/49 | €796,095 | €835,297 | +€39,202 | +4.9% |
| Equity | 10/15 | €337,238 | €263,858 | -€73,380 | -21.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €201,360 | €127,860 | -€73,500 | -36.5% |
| Tax-exempt reserves | 132 | €37,000 | €37,000 | = | 0.0% |
| Distributable reserves | 133 | €164,360 | €90,860 | -€73,500 | -44.7% |
| Profit (loss) carried forward | 14 | €117,278 | €117,398 | +€120 | +0.1% |
| Amounts payable | 17/49 | €458,857 | €571,439 | +€112,582 | +24.5% |
| Amounts payable after more than one year | 17 | €378,787 | €345,944 | -€32,843 | -8.7% |
| Financial debts | 170/4 | €378,787 | €345,944 | -€32,843 | -8.7% |
| Amounts payable within one year | 42/48 | €80,070 | €225,495 | +€145,425 | +181.6% |
| Current portion of amounts payable after more than one year | 42 | €31,601 | €32,843 | +€1,242 | +3.9% |
| Trade debts | 44 | €1,664 | €19,931 | +€18,267 | +1097.7% |
| Suppliers | 440/4 | €1,664 | €19,931 | +€18,267 | +1097.7% |
| Taxes, remuneration and social security | 45 | €2,133 | €3,883 | +€1,750 | +82.0% |
| Taxes | 450/3 | €1,034 | €3,883 | +€2,849 | +275.4% |
| Remuneration and social security | 454/9 | €1,099 | - | -€1,099 | |
| Other amounts payable | 47/48 | €44,672 | €168,838 | +€124,166 | +278.0% |
| Remuneration, social security and pensions | 62 | €17,014 | - | -€17,014 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,818 | €26,521 | -€59,297 | -69.1% |
| Other operating charges | 640/8 | €2,007 | €4,969 | +€2,961 | +147.5% |
| Gross operating margin | 9900 | €96,226 | €110,596 | +€14,370 | +14.9% |
| Operating profit (loss) | 9901 | -€8,613 | €79,107 | +€87,720 | |
| Financial income | 75/76B | €642 | €775 | +€133 | +20.7% |
| Recurring financial income | 75 | €642 | €775 | +€133 | +20.7% |
| Financial charges | 65/66B | €11,412 | €14,762 | +€3,350 | +29.4% |
| Recurring financial charges | 65 | €11,412 | €14,762 | +€3,350 | +29.4% |
| Profit (loss) for the period before taxes | 9903 | -€19,383 | €65,120 | +€84,503 | |
| Income taxes | 67/77 | -€939 | €15,000 | +€15,939 | |
| Profit (loss) for the period | 9904 | -€18,443 | €50,120 | +€68,564 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,443 | €50,120 | +€68,564 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.