DRIES VERWEE: 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.
DRIES VERWEE
Largest movements
- Stocks and contracts -€54,453
down €54,453 (-59.2%), from €92,023 to €37,570
of which Contracts in progress: -€54,514
- Receivables within one year +€25,598
up €25,598 (+32.6%), from €78,449 to €104,048
of which Trade receivables: +€30,043
- Cash -€22,212
down €22,212 (-42.9%), from €51,727 to €29,515
mainly Trade debts (-€45,517) and Receivables within one year (-€25,598)
- Tangible fixed assets -€8,911
down €8,911 (-17.5%), from €51,014 to €42,103
of which Furniture and vehicles: -€8,911
- Trade debts -€45,517
down €45,517 (-67.2%), from €67,685 to €22,168
- Short-term financial debts -€20,000
down €20,000 (-100.0%), from €20,000 to €0
- Reserves +€6,451
up €6,451 (+4.6%), from €141,228 to €147,679
of which Distributable reserves: +€6,451
- Other debts +€4,351
up €4,351 (+55.1%), from €7,893 to €12,244
- Tax, wage and social debts -€3,170
down €3,170 (-38.3%), from €8,280 to €5,110
of which Taxes: -€3,170
- Gross operating margin -€77,087
down €77,087 (-76.3%), from €101,083 to €23,996
- Taxes -€23,785
down €23,785 (-88.8%), from €26,785 to €2,999
- Depreciation -€3,252
down €3,252 (-21.7%), from €14,961 to €11,709
- Other operating charges -€1,160
down €1,160 (-31.0%), from €3,744 to €2,584
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 | €276,567 | €217,201 | -€59,366 | -21.5% |
| Fixed assets | 21/28 | €51,014 | €42,103 | -€8,911 | -17.5% |
| Tangible fixed assets | 22/27 | €51,014 | €42,103 | -€8,911 | -17.5% |
| Furniture and vehicles | 24 | €51,014 | €42,103 | -€8,911 | -17.5% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €225,553 | €175,098 | -€50,455 | -22.4% |
| Stocks and contracts in progress | 3 | €92,023 | €37,570 | -€54,453 | -59.2% |
| Stocks | 30/36 | €20,830 | €20,892 | +€61 | +0.3% |
| Contracts in progress | 37 | €71,193 | €16,679 | -€54,514 | -76.6% |
| Amounts receivable within one year | 40/41 | €78,449 | €104,048 | +€25,598 | +32.6% |
| Trade receivables | 40 | €71,054 | €101,097 | +€30,043 | +42.3% |
| Other amounts receivable | 41 | €7,395 | €2,951 | -€4,444 | -60.1% |
| Current investments | 50/53 | €92 | €0 | -€92 | -100.0% |
| Cash at bank and in hand | 54/58 | €51,727 | €29,515 | -€22,212 | -42.9% |
| Deferred charges and accrued income | 490/1 | €3,262 | €3,965 | +€703 | +21.5% |
| Total equity and liabilities | 10/49 | €276,567 | €217,201 | -€59,366 | -21.5% |
| Equity | 10/15 | €171,228 | €177,679 | +€6,451 | +3.8% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €141,228 | €147,679 | +€6,451 | +4.6% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €138,228 | €144,679 | +€6,451 | +4.7% |
| Amounts payable | 17/49 | €105,339 | €39,522 | -€65,817 | -62.5% |
| Amounts payable within one year | 42/48 | €105,339 | €39,522 | -€65,817 | -62.5% |
| Financial debts | 43 | €20,000 | €0 | -€20,000 | -100.0% |
| Credit institutions | 430/8 | €20,000 | €0 | -€20,000 | -100.0% |
| Trade debts | 44 | €67,685 | €22,168 | -€45,517 | -67.2% |
| Suppliers | 440/4 | €67,685 | €22,168 | -€45,517 | -67.2% |
| Advances received on contracts in progress | 46 | €1,481 | €0 | -€1,481 | -100.0% |
| Taxes, remuneration and social security | 45 | €8,280 | €5,110 | -€3,170 | -38.3% |
| Taxes | 450/3 | €8,280 | €5,110 | -€3,170 | -38.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €7,893 | €12,244 | +€4,351 | +55.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €2,262 | €0 | -€2,262 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,961 | €11,709 | -€3,252 | -21.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €3,744 | €2,584 | -€1,160 | -31.0% |
| Gross operating margin | 9900 | €101,083 | €23,996 | -€77,087 | -76.3% |
| Operating profit (loss) | 9901 | €82,378 | €9,703 | -€72,675 | -88.2% |
| Financial income | 75/76B | €386 | €327 | -€59 | -15.2% |
| Recurring financial income | 75 | €386 | €327 | -€59 | -15.2% |
| Financial charges | 65/66B | €1,244 | €581 | -€663 | -53.3% |
| Recurring financial charges | 65 | €1,244 | €581 | -€663 | -53.3% |
| Profit (loss) for the period before taxes | 9903 | €81,521 | €9,450 | -€72,071 | -88.4% |
| Income taxes | 67/77 | €26,785 | €2,999 | -€23,785 | -88.8% |
| Profit (loss) for the period | 9904 | €54,736 | €6,451 | -€48,285 | -88.2% |
| Profit (loss) for the period to be appropriated | 9905 | €54,736 | €6,451 | -€48,285 | -88.2% |
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 8 October 2026 via checked.be.