GROEP VERVAEKE: 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.
What changed
GROEP VERVAEKE
NACE 82.990, Other business support services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€4.0m
2024 · €3.7m+€302,946
Equity
€39.9m
2024 · €35.8m+€4.0m
Cash
€2.3m
2024 · €3.6m-€1.3m
Balance sheet total
€40.1m
2024 · €36.1m+€4.0m
Largest movements
Assets
- Current investments +€5.3m
new in 2025: €5.3m
- Cash -€1.3m
down €1.3m (-35.6%), from €3.6m to €2.3m
mainly Current investments (-€5.3m) and Current portion of long-term debt (-€200,000)
Equity and liabilities
- Reserves +€4.0m
up €4.0m (+40.8%), from €9.9m to €13.9m
of which Distributable reserves: +€3.1m
Income statement
- Other operating income +€395,498
up €395,498 (+8.6%), from €4.6m to €5.0m
- Taxes +€97,339
up €97,339 (+7.8%), from €1.2m to €1.3m
- Staff costs +€58,716
up €58,716 (+26.6%), from €220,742 to €279,458
- Financial income +€37,802
up €37,802 (+1,188%), from €3,183 to €40,985
- Depreciation -€11,299
down €11,299 (-42.2%), from €26,747 to €15,448
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.
Result 2024
€3.7m
Turnover
+€4,115
Other operating income
+€395,498
Services and other goods
+€2,547
Staff costs
-€58,716
Depreciation
+€11,299
Other operating charges
+€412
Financial income
+€37,802
Financial charges
+€7,330
Taxes
-€97,339
Result 2025
€4.0m
raises the resultlowers the result
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.
From operations
+€4.2m
Investment
-€5.3m
Financing
-€200,000
Cash 2024
€3.6m
From operations (derived)
+€4.2m
Net result for the year
+€4.0m
Depreciation
+€15,448
Receivables within one year
-€25,438
Deferred charges and accrued income
-€29,286
Smaller working-capital items
+€8,545
Other debts
+€200,488
Investment (derived)
-€5.3m
Current investments
-€5.3m
Financing
-€200,000
Current portion of long-term debt
-€200,000
Cash 2025
€2.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €36,072,910 | €40,120,235 | +€4.0m | +11.2% |
| Fixed assets | 21/28 | €31,406,244 | €31,390,797 | -€15,448 | 0.0% |
| Tangible fixed assets | 22/27 | €45,852 | €30,404 | -€15,448 | -33.7% |
| Furniture and vehicles | 24 | €45,852 | €30,404 | -€15,448 | -33.7% |
| Financial fixed assets | 28 | €31,360,392 | €31,360,392 | = | 0.0% |
| Affiliated companies | 280/1 | €31,360,392 | €31,360,392 | = | 0.0% |
| Participating interests | 280 | €31,360,392 | €31,360,392 | = | 0.0% |
| Current assets | 29/58 | €4,666,665 | €8,729,439 | +€4.1m | +87.1% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €1,034,508 | €1,059,946 | +€25,438 | +2.5% |
| Trade receivables | 40 | €349,097 | €482,587 | +€133,490 | +38.2% |
| Other amounts receivable | 41 | €685,411 | €577,359 | -€108,052 | -15.8% |
| Current investments | 50/53 | - | €5,300,000 | +€5.3m | |
| Other investments | 51/53 | - | €5,300,000 | +€5.3m | |
| Cash at bank and in hand | 54/58 | €3,630,325 | €2,338,374 | -€1.3m | -35.6% |
| Deferred charges and accrued income | 490/1 | €1,832 | €31,119 | +€29,286 | +1,598% |
| Total equity and liabilities | 10/49 | €36,072,910 | €40,120,235 | +€4.0m | +11.2% |
| Equity | 10/15 | €35,814,611 | €39,852,904 | +€4.0m | +11.3% |
| Contributions | 10/11 | €25,917,320 | €25,917,320 | = | 0.0% |
| Reserves | 13 | €9,897,291 | €13,935,584 | +€4.0m | +40.8% |
| Tax-exempt reserves | 132 | €1,031,450 | €2,010,397 | +€978,947 | +94.9% |
| Distributable reserves | 133 | €8,865,841 | €11,925,187 | +€3.1m | +34.5% |
| Amounts payable | 17/49 | €258,299 | €267,331 | +€9,033 | +3.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Other loans | 174 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €257,811 | €259,205 | +€1,394 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €200,000 | €0 | -€200,000 | -100% |
| Trade debts | 44 | €15,289 | €11,071 | -€4,218 | -27.6% |
| Suppliers | 440/4 | €15,289 | €11,071 | -€4,218 | -27.6% |
| Taxes, remuneration and social security | 45 | €36,127 | €41,252 | +€5,124 | +14.2% |
| Taxes | 450/3 | €0 | €49 | +€49 | |
| Remuneration and social security | 454/9 | €36,127 | €41,203 | +€5,075 | +14.0% |
| Other amounts payable | 47/48 | €6,394 | €206,882 | +€200,488 | +3,136% |
| Accrued charges and deferred income | 492/3 | €488 | €8,127 | +€7,639 | +1,565% |
| Operating income | 70/76A | €5,360,763 | €5,760,376 | +€399,613 | +7.5% |
| Turnover | 70 | €758,201 | €762,316 | +€4,115 | +0.5% |
| Other operating income | 74 | €4,602,562 | €4,998,060 | +€395,498 | +8.6% |
| Operating charges | 60/66A | €380,130 | €424,590 | +€44,459 | +11.7% |
| Services and other goods | 61 | €129,185 | €126,638 | -€2,547 | -2.0% |
| Remuneration, social security and pensions | 62 | €220,742 | €279,458 | +€58,716 | +26.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,747 | €15,448 | -€11,299 | -42.2% |
| Other operating charges | 640/8 | €3,457 | €3,045 | -€412 | -11.9% |
| Operating profit (loss) | 9901 | €4,980,632 | €5,335,786 | +€355,154 | +7.1% |
| Financial income | 75/76B | €3,183 | €40,985 | +€37,802 | +1,188% |
| Recurring financial income | 75 | €3,183 | €40,985 | +€37,802 | +1,188% |
| Income from financial fixed assets | 750 | €0 | €2,728 | +€2,728 | |
| Income from current assets | 751 | €3,183 | €35,076 | +€31,894 | +1,002% |
| Other financial income | 752/9 | €0 | €3,180 | +€3,180 | |
| Financial charges | 65/66B | €8,457 | €1,127 | -€7,330 | -86.7% |
| Recurring financial charges | 65 | €8,457 | €1,127 | -€7,330 | -86.7% |
| Debt charges | 650 | €7,899 | €644 | -€7,254 | -91.8% |
| Other financial charges | 652/9 | €558 | €483 | -€75 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €4,975,358 | €5,375,644 | +€400,286 | +8.0% |
| Income taxes | 67/77 | €1,240,012 | €1,337,351 | +€97,339 | +7.8% |
| Taxes | 670/3 | €1,240,012 | €1,337,351 | +€97,339 | +7.8% |
| Profit (loss) for the period | 9904 | €3,735,346 | €4,038,293 | +€302,946 | +8.1% |
| Transfer from tax-exempt reserves | 789 | - | €21,050 | +€21,050 | |
| Transfer to tax-exempt reserves | 689 | €926,200 | €999,997 | +€73,797 | +8.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,809,146 | €3,059,346 | +€250,199 | +8.9% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.