VAERD: 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.
VAERD
Largest movements
- Receivables within one year +€37,692
up €37,692 (+453.6%), from €8,310 to €46,002
of which Other amounts receivable: +€24,323
- Tangible fixed assets -€3,763
down €3,763 (-12.6%), from €29,811 to €26,048
of which Plant, machinery and equipment: -€2,576
- Stocks and contracts -€1,730
down €1,730 (-43.0%), from €4,025 to €2,295
- Cash -€911
down €911 (-19.6%), from €4,651 to €3,740
mainly Receivables within one year (-€37,692) and Contributions, distributions and other (-€10,000)
- Reserves +€16,718
up €16,718 (+52.1%), from €32,108 to €48,827
of which Distributable reserves: +€16,718
- Trade debts +€5,280
up €5,280 (+400.0%), from €1,320 to €6,600
- Other debts +€4,536
up €4,536 (+83.0%), from €5,464 to €10,000
- Tax, wage and social debts +€3,837
up €3,837 (+42.6%), from €9,004 to €12,841
- Accrued charges and deferred income +€917
new in 2024: €917
- Gross operating margin +€5,581
up €5,581 (+17.1%), from €32,562 to €38,144
- Taxes +€828
up €828 (+19.1%), from €4,337 to €5,165
- Financial charges +€772
up €772 (+95.7%), from €806 to €1,578
- Financial income +€720
up €720 (+276757.7%), from €0 to €720
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €49,896 | €81,184 | +€31,289 | +62.7% |
| Fixed assets | 21/28 | €32,911 | €29,148 | -€3,763 | -11.4% |
| Tangible fixed assets | 22/27 | €29,811 | €26,048 | -€3,763 | -12.6% |
| Plant, machinery and equipment | 23 | €15,772 | €13,196 | -€2,576 | -16.3% |
| Furniture and vehicles | 24 | €14,039 | €12,852 | -€1,187 | -8.5% |
| Financial fixed assets | 28 | €3,100 | €3,100 | = | 0.0% |
| Current assets | 29/58 | €16,985 | €52,036 | +€35,051 | +206.4% |
| Stocks and contracts in progress | 3 | €4,025 | €2,295 | -€1,730 | -43.0% |
| Stocks | 30/36 | €4,025 | €2,295 | -€1,730 | -43.0% |
| Amounts receivable within one year | 40/41 | €8,310 | €46,002 | +€37,692 | +453.6% |
| Trade receivables | 40 | €8,125 | €21,494 | +€13,369 | +164.5% |
| Other amounts receivable | 41 | €185 | €24,508 | +€24,323 | +13178.2% |
| Cash at bank and in hand | 54/58 | €4,651 | €3,740 | -€911 | -19.6% |
| Total equity and liabilities | 10/49 | €49,896 | €81,184 | +€31,289 | +62.7% |
| Equity | 10/15 | €34,108 | €50,827 | +€16,718 | +49.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €32,108 | €48,827 | +€16,718 | +52.1% |
| Non-distributable reserves | 130/1 | €200 | €200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €200 | €200 | = | 0.0% |
| Distributable reserves | 133 | €31,908 | €48,627 | +€16,718 | +52.4% |
| Amounts payable | 17/49 | €15,788 | €30,358 | +€14,570 | +92.3% |
| Amounts payable within one year | 42/48 | €15,788 | €29,441 | +€13,653 | +86.5% |
| Trade debts | 44 | €1,320 | €6,600 | +€5,280 | +400.0% |
| Suppliers | 440/4 | €1,320 | €6,600 | +€5,280 | +400.0% |
| Taxes, remuneration and social security | 45 | €9,004 | €12,841 | +€3,837 | +42.6% |
| Taxes | 450/3 | €9,004 | €12,841 | +€3,837 | +42.6% |
| Other amounts payable | 47/48 | €5,464 | €10,000 | +€4,536 | +83.0% |
| Accrued charges and deferred income | 492/3 | - | €917 | +€917 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,763 | €3,763 | = | 0.0% |
| Other operating charges | 640/8 | €1,367 | €1,640 | +€272 | +19.9% |
| Gross operating margin | 9900 | €32,562 | €38,144 | +€5,581 | +17.1% |
| Operating profit (loss) | 9901 | €27,432 | €32,741 | +€5,309 | +19.4% |
| Financial income | 75/76B | €0 | €720 | +€720 | +276757.7% |
| Recurring financial income | 75 | €0 | €720 | +€720 | +276757.7% |
| Financial charges | 65/66B | €806 | €1,578 | +€772 | +95.7% |
| Recurring financial charges | 65 | €806 | €1,578 | +€772 | +95.7% |
| Profit (loss) for the period before taxes | 9903 | €26,626 | €31,883 | +€5,257 | +19.7% |
| Income taxes | 67/77 | €4,337 | €5,165 | +€828 | +19.1% |
| Profit (loss) for the period | 9904 | €22,289 | €26,718 | +€4,429 | +19.9% |
| Profit (loss) for the period to be appropriated | 9905 | €22,289 | €26,718 | +€4,429 | +19.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.