VEDEL: 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.
VEDEL
Largest movements
- Receivables within one year +€38,418
up €38,418 (+43.6%), from €88,016 to €126,434
of which Other amounts receivable: +€40,181
- Tangible fixed assets +€22,667
up €22,667 (+37.5%), from €60,485 to €83,151
of which Furniture and vehicles: +€13,134
- Cash -€6,475
down €6,475 (-63.4%), from €10,220 to €3,745
mainly Investment in fixed assets (net) (-€41,153) and Receivables within one year (-€38,418)
- Profit (loss) carried forward +€40,452
up €40,452 (+40.3%), from €100,471 to €140,923
- Tax, wage and social debts +€24,514
up €24,514 (+168%), from €14,588 to €39,102
- Trade debts -€7,779
down €7,779 (-43.4%), from €17,906 to €10,127
- Debts after one year -€2,481
down €2,481 (-54.1%), from €4,582 to €2,101
- Gross operating margin +€32,678
up €32,678 (+71.7%), from €45,587 to €78,265
- Depreciation +€9,137
up €9,137 (+97.7%), from €9,349 to €18,486
- Taxes +€6,095
up €6,095 (+59.9%), from €10,177 to €16,272
- Other operating charges -€2,213
down €2,213 (-56.8%), from €3,897 to €1,684
- Financial charges +€859
up €859 (+167%), from €514 to €1,374
From the 2023 result to the 2024 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.
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €159,529 | €214,138 | +€54,609 | +34.2% |
| Fixed assets | 21/28 | €61,293 | €83,959 | +€22,667 | +37.0% |
| Tangible fixed assets | 22/27 | €60,485 | €83,151 | +€22,667 | +37.5% |
| Plant, machinery and equipment | 23 | €1,241 | €10,774 | +€9,532 | +768% |
| Furniture and vehicles | 24 | €59,243 | €72,378 | +€13,134 | +22.2% |
| Financial fixed assets | 28 | €808 | €808 | = | 0.0% |
| Current assets | 29/58 | €98,236 | €130,179 | +€31,943 | +32.5% |
| Amounts receivable within one year | 40/41 | €88,016 | €126,434 | +€38,418 | +43.6% |
| Trade receivables | 40 | €20,639 | €18,876 | -€1,764 | -8.5% |
| Other amounts receivable | 41 | €67,377 | €107,558 | +€40,181 | +59.6% |
| Cash at bank and in hand | 54/58 | €10,220 | €3,745 | -€6,475 | -63.4% |
| Total equity and liabilities | 10/49 | €159,529 | €214,138 | +€54,609 | +34.2% |
| Equity | 10/15 | €111,183 | €151,635 | +€40,452 | +36.4% |
| Contributions | 10/11 | €8,676 | €8,676 | = | 0.0% |
| Capital | 10 | €8,676 | €8,676 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Uncalled capital | 101 | €9,916 | €9,916 | = | 0.0% |
| Reserves | 13 | €2,036 | €2,036 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,036 | €2,036 | = | 0.0% |
| Legal reserve | 130 | €2,036 | €2,036 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,471 | €140,923 | +€40,452 | +40.3% |
| Amounts payable | 17/49 | €48,346 | €62,503 | +€14,157 | +29.3% |
| Amounts payable after more than one year | 17 | €4,582 | €2,101 | -€2,481 | -54.1% |
| Financial debts | 170/4 | €4,582 | €2,101 | -€2,481 | -54.1% |
| Amounts payable within one year | 42/48 | €43,764 | €60,402 | +€16,638 | +38.0% |
| Current portion of amounts payable after more than one year | 42 | €2,437 | €2,481 | +€44 | +1.8% |
| Trade debts | 44 | €17,906 | €10,127 | -€7,779 | -43.4% |
| Suppliers | 440/4 | €17,906 | €10,127 | -€7,779 | -43.4% |
| Taxes, remuneration and social security | 45 | €14,588 | €39,102 | +€24,514 | +168% |
| Taxes | 450/3 | €14,588 | €39,102 | +€24,514 | +168% |
| Other amounts payable | 47/48 | €8,832 | €8,692 | -€140 | -1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,349 | €18,486 | +€9,137 | +97.7% |
| Other operating charges | 640/8 | €3,897 | €1,684 | -€2,213 | -56.8% |
| Gross operating margin | 9900 | €45,587 | €78,265 | +€32,678 | +71.7% |
| Operating profit (loss) | 9901 | €32,341 | €58,095 | +€25,754 | +79.6% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €514 | €1,374 | +€859 | +167% |
| Recurring financial charges | 65 | €514 | €1,374 | +€859 | +167% |
| Profit (loss) for the period before taxes | 9903 | €31,827 | €56,725 | +€24,897 | +78.2% |
| Income taxes | 67/77 | €10,177 | €16,272 | +€6,095 | +59.9% |
| Profit (loss) for the period | 9904 | €21,650 | €40,452 | +€18,802 | +86.8% |
| Profit (loss) for the period to be appropriated | 9905 | €21,650 | €40,452 | +€18,802 | +86.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.