Vaerewyck: 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.
Vaerewyck
Largest movements
- Cash -€156,146
down €156,146 (-82.3%), from €189,634 to €33,489
mainly Contributions, distributions and other (-€270,000) and Other debts (-€42,874)
- Receivables within one year -€117,767
down €117,767 (-84.7%), from €139,086 to €21,319
of which Trade receivables: -€99,441
- Stocks and contracts -€51,569
down €51,569 (-100%), from €51,569 to €0
- Tangible fixed assets -€25,609
down €25,609 (-37.4%), from €68,386 to €42,778
of which Furniture and vehicles: -€24,984
- Deferred charges and accrued income -€6,281
down €6,281 (-76.9%), from €8,170 to €1,889
- Profit (loss) carried forward -€255,135
down €255,135, from €249,494 to -€5,641
- Other debts -€42,874
down €42,874 (-50.0%), from €85,798 to €42,924
- Trade debts -€29,239
down €29,239 (-84.4%), from €34,656 to €5,417
- Debts after one year -€15,506
down €15,506 (-38.2%), from €40,633 to €25,127
- Tax, wage and social debts -€8,869
down €8,869 (-46.3%), from €19,159 to €10,289
of which Taxes: -€7,057
- Gross operating margin -€254,004
down €254,004 (-70.7%), from €359,369 to €105,365
- Staff costs -€77,674
down €77,674 (-54.4%), from €142,867 to €65,193
- Depreciation -€30,685
down €30,685 (-69.3%), from €44,247 to €13,562
- Taxes -€22,466
down €22,466 (-84.5%), from €26,593 to €4,128
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 | €458,893 | €99,475 | -€359,418 | -78.3% |
| Fixed assets | 21/28 | €70,433 | €42,778 | -€27,655 | -39.3% |
| Intangible fixed assets | 21 | €2,047 | €0 | -€2,047 | -100% |
| Tangible fixed assets | 22/27 | €68,386 | €42,778 | -€25,609 | -37.4% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €3,580 | €2,956 | -€624 | -17.4% |
| Furniture and vehicles | 24 | €64,806 | €39,822 | -€24,984 | -38.6% |
| Current assets | 29/58 | €388,460 | €56,697 | -€331,762 | -85.4% |
| Stocks and contracts in progress | 3 | €51,569 | €0 | -€51,569 | -100% |
| Stocks | 30/36 | €51,569 | €0 | -€51,569 | -100% |
| Amounts receivable within one year | 40/41 | €139,086 | €21,319 | -€117,767 | -84.7% |
| Trade receivables | 40 | €109,633 | €10,192 | -€99,441 | -90.7% |
| Other amounts receivable | 41 | €29,453 | €11,127 | -€18,326 | -62.2% |
| Cash at bank and in hand | 54/58 | €189,634 | €33,489 | -€156,146 | -82.3% |
| Deferred charges and accrued income | 490/1 | €8,170 | €1,889 | -€6,281 | -76.9% |
| Total equity and liabilities | 10/49 | €458,893 | €99,475 | -€359,418 | -78.3% |
| Equity | 10/15 | €259,494 | €4,359 | -€255,135 | -98.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €249,494 | -€5,641 | -€255,135 | |
| Amounts payable | 17/49 | €199,399 | €95,116 | -€104,282 | -52.3% |
| Amounts payable after more than one year | 17 | €40,633 | €25,127 | -€15,506 | -38.2% |
| Financial debts | 170/4 | €40,633 | €25,127 | -€15,506 | -38.2% |
| Amounts payable within one year | 42/48 | €158,765 | €69,989 | -€88,776 | -55.9% |
| Current portion of amounts payable after more than one year | 42 | €19,152 | €11,345 | -€7,808 | -40.8% |
| Financial debts | 43 | - | €14 | +€14 | |
| Credit institutions | 430/8 | - | €14 | +€14 | |
| Trade debts | 44 | €34,656 | €5,417 | -€29,239 | -84.4% |
| Suppliers | 440/4 | €34,656 | €5,417 | -€29,239 | -84.4% |
| Taxes, remuneration and social security | 45 | €19,159 | €10,289 | -€8,869 | -46.3% |
| Taxes | 450/3 | €15,000 | €7,943 | -€7,057 | -47.0% |
| Remuneration and social security | 454/9 | €4,159 | €2,346 | -€1,813 | -43.6% |
| Other amounts payable | 47/48 | €85,798 | €42,924 | -€42,874 | -50.0% |
| Non-recurring operating income | 76A | - | €36,412 | +€36,412 | |
| Remuneration, social security and pensions | 62 | €142,867 | €65,193 | -€77,674 | -54.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,247 | €13,562 | -€30,685 | -69.3% |
| Other operating charges | 640/8 | €1,840 | €1,315 | -€525 | -28.5% |
| Non-recurring operating charges | 66A | €45,896 | €4,347 | -€41,549 | -90.5% |
| Gross operating margin | 9900 | €359,369 | €105,365 | -€254,004 | -70.7% |
| Operating profit (loss) | 9901 | €124,519 | €20,948 | -€103,571 | -83.2% |
| Financial income | 75/76B | €171 | €750 | +€579 | +339% |
| Recurring financial income | 75 | €171 | €750 | +€579 | +339% |
| Financial charges | 65/66B | €3,113 | €2,706 | -€408 | -13.1% |
| Recurring financial charges | 65 | €3,113 | €2,706 | -€408 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €121,576 | €18,992 | -€102,584 | -84.4% |
| Income taxes | 67/77 | €26,593 | €4,128 | -€22,466 | -84.5% |
| Profit (loss) for the period | 9904 | €94,983 | €14,865 | -€80,119 | -84.4% |
| Profit (loss) for the period to be appropriated | 9905 | €94,983 | €14,865 | -€80,119 | -84.4% |
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 19 October 2026 via checked.be.