Vaerenberg: 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.
Vaerenberg
Largest movements
- Current investments +€49,628
new in 2025: €49,628
- Receivables within one year +€18,947
up €18,947 (+198%), from €9,554 to €28,501
of which Trade receivables: +€19,091
- Cash -€13,714
down €13,714 (-5.9%), from €232,757 to €219,044
mainly Other debts (-€51,445) and Current investments (-€49,628)
- Tangible fixed assets -€4,059
down €4,059 (-23.7%), from €17,114 to €13,055
- Reserves +€81,629
up €81,629 (+40.9%), from €199,768 to €281,397
- Other debts -€51,445
no longer reported in 2025 (was €51,445)
- Tax, wage and social debts +€19,285
up €19,285 (+477%), from €4,041 to €23,326
- Gross operating margin +€64,193
up €64,193 (+100%), from €63,910 to €128,103
- Taxes +€21,537
up €21,537 (+111%), from €19,366 to €40,903
- Depreciation -€2,158
down €2,158 (-34.7%), from €6,217 to €4,059
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 | €262,314 | €312,530 | +€50,216 | +19.1% |
| Fixed assets | 21/28 | €17,114 | €13,055 | -€4,059 | -23.7% |
| Tangible fixed assets | 22/27 | €17,114 | €13,055 | -€4,059 | -23.7% |
| Plant, machinery and equipment | 23 | €1,591 | €759 | -€831 | -52.3% |
| Furniture and vehicles | 24 | €1,385 | - | -€1,385 | |
| Other tangible fixed assets | 26 | €14,138 | €12,295 | -€1,842 | -13.0% |
| Current assets | 29/58 | €245,200 | €299,475 | +€54,275 | +22.1% |
| Amounts receivable within one year | 40/41 | €9,554 | €28,501 | +€18,947 | +198% |
| Trade receivables | 40 | €7,599 | €26,690 | +€19,091 | +251% |
| Other amounts receivable | 41 | €1,955 | €1,812 | -€143 | -7.3% |
| Current investments | 50/53 | - | €49,628 | +€49,628 | |
| Cash at bank and in hand | 54/58 | €232,757 | €219,044 | -€13,714 | -5.9% |
| Deferred charges and accrued income | 490/1 | €2,889 | €2,303 | -€586 | -20.3% |
| Total equity and liabilities | 10/49 | €262,314 | €312,530 | +€50,216 | +19.1% |
| Equity | 10/15 | €205,980 | €287,609 | +€81,629 | +39.6% |
| Contributions | 10/11 | €6,212 | €6,212 | = | 0.0% |
| Reserves | 13 | €199,768 | €281,397 | +€81,629 | +40.9% |
| Distributable reserves | 133 | €199,768 | €281,397 | +€81,629 | +40.9% |
| Amounts payable | 17/49 | €56,333 | €24,921 | -€31,412 | -55.8% |
| Amounts payable within one year | 42/48 | €56,333 | €24,921 | -€31,412 | -55.8% |
| Trade debts | 44 | €847 | €1,595 | +€748 | +88.3% |
| Suppliers | 440/4 | €847 | €1,595 | +€748 | +88.3% |
| Taxes, remuneration and social security | 45 | €4,041 | €23,326 | +€19,285 | +477% |
| Taxes | 450/3 | €4,041 | €23,326 | +€19,285 | +477% |
| Other amounts payable | 47/48 | €51,445 | - | -€51,445 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,217 | €4,059 | -€2,158 | -34.7% |
| Other operating charges | 640/8 | €1,290 | €1,346 | +€57 | +4.4% |
| Gross operating margin | 9900 | €63,910 | €128,103 | +€64,193 | +100% |
| Operating profit (loss) | 9901 | €56,404 | €122,698 | +€66,294 | +118% |
| Financial income | 75/76B | €108 | €9 | -€100 | -92.1% |
| Recurring financial income | 75 | €108 | €9 | -€100 | -92.1% |
| Financial charges | 65/66B | €90 | €174 | +€84 | +93.3% |
| Recurring financial charges | 65 | €90 | €174 | +€84 | +93.3% |
| Profit (loss) for the period before taxes | 9903 | €56,422 | €122,532 | +€66,110 | +117% |
| Income taxes | 67/77 | €19,366 | €40,903 | +€21,537 | +111% |
| Profit (loss) for the period | 9904 | €37,056 | €81,629 | +€44,573 | +120% |
| Profit (loss) for the period to be appropriated | 9905 | €37,056 | €81,629 | +€44,573 | +120% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.