GROEP VERCAMBRE: 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.
GROEP VERCAMBRE
Largest movements
- Financial fixed assets -€3.0m
down €3.0m (-25.5%), from €11.8m to €8.8m
- Current investments -€745,815
down €745,815 (-48.2%), from €1.5m to €800,000
- Receivables within one year -€165,706
down €165,706 (-6.3%), from €2.6m to €2.5m
of which Other amounts receivable: -€149,100
- Profit (loss) carried forward -€2.7m
down €2.7m, from €0 to -€2.7m
- Reserves -€1.2m
down €1.2m (-82.2%), from €1.4m to €251,569
- Financial charges +€3.0m
up €3.0m, from -€29,252 to €3.0m
of which Non-recurring financial charges: +€3.0m
- Financial income +€124,080
up €124,080 (+66.2%), from €187,390 to €311,470
- Gross operating margin -€76,587
down €76,587 (-36.7%), from €208,812 to €132,225
- Staff costs -€48,577
down €48,577 (-48.1%), from €101,059 to €52,482
- Taxes -€15,560
down €15,560 (-22.4%), from €69,541 to €53,981
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 | €16,281,734 | €12,480,365 | -€3.8m | -23.3% |
| Fixed assets | 21/28 | €11,811,976 | €8,803,221 | -€3.0m | -25.5% |
| Financial fixed assets | 28 | €11,811,976 | €8,803,221 | -€3.0m | -25.5% |
| Current assets | 29/58 | €4,469,758 | €3,677,144 | -€792,614 | -17.7% |
| Amounts receivable within one year | 40/41 | €2,642,954 | €2,477,247 | -€165,706 | -6.3% |
| Trade receivables | 40 | €64,878 | €48,271 | -€16,606 | -25.6% |
| Other amounts receivable | 41 | €2,578,076 | €2,428,976 | -€149,100 | -5.8% |
| Current investments | 50/53 | €1,545,815 | €800,000 | -€745,815 | -48.2% |
| Cash at bank and in hand | 54/58 | €280,768 | €399,698 | +€118,931 | +42.4% |
| Deferred charges and accrued income | 490/1 | €222 | €199 | -€23 | -10.4% |
| Total equity and liabilities | 10/49 | €16,281,734 | €12,480,365 | -€3.8m | -23.3% |
| Equity | 10/15 | €16,260,192 | €12,428,501 | -€3.8m | -23.6% |
| Contributions | 10/11 | €14,850,000 | €14,850,000 | = | 0.0% |
| Reserves | 13 | €1,410,192 | €251,569 | -€1.2m | -82.2% |
| Distributable reserves | 133 | €1,410,192 | €251,569 | -€1.2m | -82.2% |
| Profit (loss) carried forward | 14 | €0 | -€2,673,068 | -€2.7m | |
| Amounts payable | 17/49 | €21,542 | €51,864 | +€30,322 | +141% |
| Amounts payable within one year | 42/48 | €20,683 | €50,980 | +€30,298 | +146% |
| Financial debts | 43 | €39 | €0 | -€39 | -100% |
| Credit institutions | 430/8 | €39 | €0 | -€39 | -100% |
| Trade debts | 44 | €988 | €29 | -€959 | -97.1% |
| Suppliers | 440/4 | €988 | €29 | -€959 | -97.1% |
| Taxes, remuneration and social security | 45 | €19,656 | €15,758 | -€3,899 | -19.8% |
| Taxes | 450/3 | €18,731 | €15,758 | -€2,973 | -15.9% |
| Remuneration and social security | 454/9 | €926 | €0 | -€926 | -100% |
| Other amounts payable | 47/48 | €0 | €35,194 | +€35,194 | |
| Accrued charges and deferred income | 492/3 | €859 | €884 | +€25 | +2.9% |
| Remuneration, social security and pensions | 62 | €101,059 | €52,482 | -€48,577 | -48.1% |
| Other operating charges | 640/8 | €1,175 | €1,118 | -€57 | -4.8% |
| Gross operating margin | 9900 | €208,812 | €132,225 | -€76,587 | -36.7% |
| Operating profit (loss) | 9901 | €106,578 | €78,625 | -€27,953 | -26.2% |
| Financial income | 75/76B | €187,390 | €311,470 | +€124,080 | +66.2% |
| Recurring financial income | 75 | €187,390 | €311,470 | +€124,080 | +66.2% |
| Financial charges | 65/66B | -€29,252 | €3,009,182 | +€3.0m | |
| Recurring financial charges | 65 | -€29,252 | €427 | +€29,679 | |
| Non-recurring financial charges | 66B | €0 | €3,008,755 | +€3.0m | |
| Profit (loss) for the period before taxes | 9903 | €323,219 | -€2,619,087 | -€2.9m | |
| Income taxes | 67/77 | €69,541 | €53,981 | -€15,560 | -22.4% |
| Profit (loss) for the period | 9904 | €253,678 | -€2,673,068 | -€2.9m | |
| Profit (loss) for the period to be appropriated | 9905 | €253,678 | -€2,673,068 | -€2.9m |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.