KANTOOR 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
KANTOOR VERVAEKE
NACE 64.110, Financial service activities, except insurance and pension funding
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€143,032
2024 · €159,223-€16,191
Equity
€3.3m
2024 · €3.1m+€143,032
Cash
€576,984
2024 · €138,880+€438,103
Balance sheet total
€3.5m
2024 · €3.3m+€157,506
Largest movements
Assets
- Current investments -€506,212
down €506,212 (-38.2%), from €1.3m to €818,945
- Cash +€438,103
up €438,103 (+315%), from €138,880 to €576,984
mainly Current investments (+€506,212) and Net result for the year (+€143,032)
- Tangible fixed assets +€140,722
up €140,722 (+8.8%), from €1.6m to €1.7m
of which Land and buildings: +€121,398
- Receivables after one year +€60,000
up €60,000 (+23.5%), from €255,000 to €315,000
- Receivables within one year +€35,897
up €35,897, from €0 to €35,897
Equity and liabilities
- Profit (loss) carried forward +€143,032
up €143,032 (+15.1%), from €945,740 to €1.1m
Income statement
- Gross operating margin +€49,420
up €49,420 (+10.7%), from €462,207 to €511,627
- Depreciation +€34,813
up €34,813 (+46.0%), from €75,663 to €110,476
- Financial income -€19,156
down €19,156 (-42.4%), from €45,127 to €25,971
- Staff costs +€16,160
up €16,160 (+7.9%), from €204,827 to €220,988
- Taxes -€10,795
down €10,795 (-19.9%), from €54,162 to €43,366
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
€159,223
Gross operating margin
+€49,420
Staff costs
-€16,160
Depreciation
-€34,813
Other operating charges
-€1,183
Other operating items
+€225
Financial income
-€19,156
Financial charges
-€5,319
Taxes
+€10,795
Result 2025
€143,032
raises the resultlowers the resultnot broken down further in the accounts
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
+€184,140
Investment
+€255,144
Financing
-€1,181
Cash 2024
€138,880
From operations (derived)
+€184,140
Net result for the year
+€143,032
Depreciation
+€110,476
Receivables after one year
-€60,000
Receivables within one year
-€35,897
Deferred charges and accrued income
+€10,874
Trade debts
+€9,751
Tax, wage and social debts
+€6,593
Smaller working-capital items
-€689
Investment (derived)
+€255,144
Investment in fixed assets (net)
-€251,068
Current investments
+€506,212
Financing
-€1,181
Debts after one year
-€9,097
Current portion of long-term debt
+€3,722
Short-term financial debts
+€4,195
Cash 2025
€576,984
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,342,941 | €3,500,447 | +€157,506 | +4.7% |
| Fixed assets | 21/28 | €1,609,408 | €1,750,000 | +€140,592 | +8.7% |
| Tangible fixed assets | 22/27 | €1,608,053 | €1,748,775 | +€140,722 | +8.8% |
| Land and buildings | 22 | €1,578,731 | €1,700,129 | +€121,398 | +7.7% |
| Plant, machinery and equipment | 23 | €4,661 | €0 | -€4,661 | -100% |
| Furniture and vehicles | 24 | €24,661 | €48,646 | +€23,985 | +97.3% |
| Financial fixed assets | 28 | €1,355 | €1,225 | -€130 | -9.6% |
| Current assets | 29/58 | €1,733,533 | €1,750,447 | +€16,914 | +1.0% |
| Amounts receivable after more than one year | 29 | €255,000 | €315,000 | +€60,000 | +23.5% |
| Other amounts receivable | 291 | €255,000 | €315,000 | +€60,000 | +23.5% |
| Amounts receivable within one year | 40/41 | €0 | €35,897 | +€35,897 | |
| Other amounts receivable | 41 | €0 | €35,897 | +€35,897 | |
| Current investments | 50/53 | €1,325,157 | €818,945 | -€506,212 | -38.2% |
| Cash at bank and in hand | 54/58 | €138,880 | €576,984 | +€438,103 | +315% |
| Deferred charges and accrued income | 490/1 | €14,496 | €3,622 | -€10,874 | -75.0% |
| Total equity and liabilities | 10/49 | €3,342,941 | €3,500,447 | +€157,506 | +4.7% |
| Equity | 10/15 | €3,125,115 | €3,268,147 | +€143,032 | +4.6% |
| Contributions | 10/11 | €9,916 | €9,916 | = | 0.0% |
| Reserves | 13 | €2,169,459 | €2,169,459 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €2,130,100 | €2,130,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €945,740 | €1,088,772 | +€143,032 | +15.1% |
| Amounts payable | 17/49 | €217,826 | €232,300 | +€14,474 | +6.6% |
| Amounts payable after more than one year | 17 | €119,981 | €110,884 | -€9,097 | -7.6% |
| Financial debts | 170/4 | €118,789 | €109,692 | -€9,097 | -7.7% |
| Other amounts payable | 178/9 | €1,193 | €1,193 | = | 0.0% |
| Amounts payable within one year | 42/48 | €97,153 | €120,624 | +€23,471 | +24.2% |
| Current portion of amounts payable after more than one year | 42 | €34,154 | €37,876 | +€3,722 | +10.9% |
| Financial debts | 43 | - | €4,195 | +€4,195 | |
| Credit institutions | 430/8 | - | €4,195 | +€4,195 | |
| Trade debts | 44 | €4,829 | €14,580 | +€9,751 | +202% |
| Suppliers | 440/4 | €4,829 | €14,580 | +€9,751 | +202% |
| Taxes, remuneration and social security | 45 | €56,042 | €62,635 | +€6,593 | +11.8% |
| Taxes | 450/3 | €16,997 | €13,515 | -€3,482 | -20.5% |
| Remuneration and social security | 454/9 | €39,045 | €49,120 | +€10,075 | +25.8% |
| Other amounts payable | 47/48 | €2,127 | €1,338 | -€790 | -37.1% |
| Accrued charges and deferred income | 492/3 | €692 | €792 | +€101 | +14.5% |
| Non-recurring operating income | 76A | - | €13,703 | +€13,703 | |
| Remuneration, social security and pensions | 62 | €204,827 | €220,988 | +€16,160 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,663 | €110,476 | +€34,813 | +46.0% |
| Other operating charges | 640/8 | €9,008 | €10,192 | +€1,183 | +13.1% |
| Non-recurring operating charges | 66A | €225 | €0 | -€225 | -100% |
| Gross operating margin | 9900 | €462,207 | €511,627 | +€49,420 | +10.7% |
| Operating profit (loss) | 9901 | €172,483 | €169,972 | -€2,511 | -1.5% |
| Financial income | 75/76B | €45,127 | €25,971 | -€19,156 | -42.4% |
| Recurring financial income | 75 | €45,127 | €25,971 | -€19,156 | -42.4% |
| Financial charges | 65/66B | €4,226 | €9,545 | +€5,319 | +126% |
| Recurring financial charges | 65 | €4,226 | €9,414 | +€5,188 | +123% |
| Non-recurring financial charges | 66B | - | €130 | +€130 | |
| Profit (loss) for the period before taxes | 9903 | €213,384 | €186,398 | -€26,986 | -12.6% |
| Income taxes | 67/77 | €54,162 | €43,366 | -€10,795 | -19.9% |
| Profit (loss) for the period | 9904 | €159,223 | €143,032 | -€16,191 | -10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €159,223 | €143,032 | -€16,191 | -10.2% |
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 27 October 2026 via checked.be.