De Vaerinck: 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.
De Vaerinck
Largest movements
- Tangible fixed assets +€28,773
up €28,773 (+3.8%), from €752,921 to €781,694
of which Furniture and vehicles: +€73,736
- Receivables within one year -€19,896
down €19,896 (-53.3%), from €37,359 to €17,463
of which Trade receivables: -€19,877
- Cash +€9,860
up €9,860 (+35.0%), from €28,186 to €38,045
mainly Depreciation (+€56,047) and Debts after one year (+€53,602)
- Other debts -€83,809
down €83,809 (-7.0%), from €1.2m to €1.1m
- Debts after one year +€53,602
new in 2025: €53,602
- Profit (loss) carried forward +€15,142
up €15,142 (+3.2%), from -€467,145 to -€452,004
- Trade debts +€13,306
up €13,306 (+237%), from €5,617 to €18,924
- Current portion of long-term debt +€13,173
new in 2025: €13,173
- Gross operating margin -€23,440
down €23,440 (-20.4%), from €114,993 to €91,554
- Other operating charges +€14,463
up €14,463 (+339%), from €4,264 to €18,727
- Depreciation +€6,012
up €6,012 (+12.0%), from €50,035 to €56,047
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.
Derived cash bridge
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 | €847,370 | €858,408 | +€11,038 | +1.3% |
| Fixed assets | 21/28 | €752,921 | €781,694 | +€28,773 | +3.8% |
| Tangible fixed assets | 22/27 | €752,921 | €781,694 | +€28,773 | +3.8% |
| Land and buildings | 22 | €741,076 | €700,263 | -€40,813 | -5.5% |
| Plant, machinery and equipment | 23 | €6,837 | €2,686 | -€4,151 | -60.7% |
| Furniture and vehicles | 24 | €5,008 | €78,744 | +€73,736 | +1,472% |
| Current assets | 29/58 | €94,449 | €76,714 | -€17,734 | -18.8% |
| Stocks and contracts in progress | 3 | €23,145 | €14,893 | -€8,252 | -35.7% |
| Stocks | 30/36 | €23,145 | €14,893 | -€8,252 | -35.7% |
| Amounts receivable within one year | 40/41 | €37,359 | €17,463 | -€19,896 | -53.3% |
| Trade receivables | 40 | €37,340 | €17,463 | -€19,877 | -53.2% |
| Other amounts receivable | 41 | €19 | €0 | -€19 | -100% |
| Cash at bank and in hand | 54/58 | €28,186 | €38,045 | +€9,860 | +35.0% |
| Deferred charges and accrued income | 490/1 | €5,759 | €6,313 | +€554 | +9.6% |
| Total equity and liabilities | 10/49 | €847,370 | €858,408 | +€11,038 | +1.3% |
| Equity | 10/15 | -€352,145 | -€337,004 | +€15,142 | +4.3% |
| Contributions | 10/11 | €115,000 | €115,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€467,145 | -€452,004 | +€15,142 | +3.2% |
| Amounts payable | 17/49 | €1,199,515 | €1,195,411 | -€4,104 | -0.3% |
| Amounts payable after more than one year | 17 | - | €53,602 | +€53,602 | |
| Financial debts | 170/4 | - | €53,602 | +€53,602 | |
| Amounts payable within one year | 42/48 | €1,199,025 | €1,141,502 | -€57,523 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | - | €13,173 | +€13,173 | |
| Trade debts | 44 | €5,617 | €18,924 | +€13,306 | +237% |
| Suppliers | 440/4 | €5,617 | €18,924 | +€13,306 | +237% |
| Advances received on contracts in progress | 46 | €356 | €376 | +€19 | +5.5% |
| Taxes, remuneration and social security | 45 | €4,097 | €3,884 | -€213 | -5.2% |
| Taxes | 450/3 | €4,097 | €3,884 | -€213 | -5.2% |
| Other amounts payable | 47/48 | €1,188,954 | €1,105,145 | -€83,809 | -7.0% |
| Accrued charges and deferred income | 492/3 | €490 | €307 | -€183 | -37.4% |
| Non-recurring operating income | 76A | - | €14,000 | +€14,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,035 | €56,047 | +€6,012 | +12.0% |
| Other operating charges | 640/8 | €4,264 | €18,727 | +€14,463 | +339% |
| Gross operating margin | 9900 | €114,993 | €91,554 | -€23,440 | -20.4% |
| Operating profit (loss) | 9901 | €60,695 | €16,780 | -€43,914 | -72.4% |
| Financial income | 75/76B | €81 | €79 | -€1 | -1.7% |
| Recurring financial income | 75 | €81 | €79 | -€1 | -1.7% |
| Financial charges | 65/66B | €416 | €1,118 | +€701 | +168% |
| Recurring financial charges | 65 | €416 | €1,118 | +€701 | +168% |
| Profit (loss) for the period before taxes | 9903 | €60,359 | €15,742 | -€44,617 | -73.9% |
| Income taxes | 67/77 | €655 | €600 | -€55 | -8.4% |
| Profit (loss) for the period | 9904 | €59,703 | €15,142 | -€44,562 | -74.6% |
| Profit (loss) for the period to be appropriated | 9905 | €59,703 | €15,142 | -€44,562 | -74.6% |
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 20 October 2026 via checked.be.