VAERNEWYCK: 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.
VAERNEWYCK
Largest movements
- Tangible fixed assets -€7,373
down €7,373 (-11.7%), from €63,024 to €55,651
of which Land and buildings: -€7,131
- Receivables within one year -€6,753
down €6,753 (-50.1%), from €13,491 to €6,739
of which Trade receivables: -€6,356
- Cash +€5,853
up €5,853 (+99.7%), from €5,871 to €11,724
mainly Depreciation (+€7,373) and Receivables within one year (+€6,753)
- Stocks and contracts +€2,407
up €2,407 (+11.4%), from €21,158 to €23,566
of which Contracts in progress: +€2,859
- Debts after one year -€5,845
down €5,845 (-6.8%), from €85,523 to €79,678
of which Financial debts: -€5,845
- Other debts -€4,226
down €4,226 (-9.9%), from €42,695 to €38,468
- Trade debts +€2,936
up €2,936 (+67.9%), from €4,321 to €7,256
- Gross operating margin -€4,830
down €4,830 (-23.8%), from €20,320 to €15,490
- Write-downs +€3,421
new in 2025: €3,421
- Financial charges -€213
down €213 (-8.1%), from €2,616 to €2,403
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 | €103,699 | €97,726 | -€5,972 | -5.8% |
| Fixed assets | 21/28 | €63,024 | €55,651 | -€7,373 | -11.7% |
| Tangible fixed assets | 22/27 | €63,024 | €55,651 | -€7,373 | -11.7% |
| Land and buildings | 22 | €62,462 | €55,332 | -€7,131 | -11.4% |
| Plant, machinery and equipment | 23 | €76 | - | -€76 | |
| Furniture and vehicles | 24 | €486 | €319 | -€167 | -34.3% |
| Current assets | 29/58 | €40,675 | €42,075 | +€1,401 | +3.4% |
| Stocks and contracts in progress | 3 | €21,158 | €23,566 | +€2,407 | +11.4% |
| Stocks | 30/36 | €13,158 | €12,706 | -€452 | -3.4% |
| Contracts in progress | 37 | €8,000 | €10,859 | +€2,859 | +35.7% |
| Amounts receivable within one year | 40/41 | €13,491 | €6,739 | -€6,753 | -50.1% |
| Trade receivables | 40 | €11,961 | €5,604 | -€6,356 | -53.1% |
| Other amounts receivable | 41 | €1,531 | €1,134 | -€396 | -25.9% |
| Cash at bank and in hand | 54/58 | €5,871 | €11,724 | +€5,853 | +99.7% |
| Deferred charges and accrued income | 490/1 | €154 | €47 | -€107 | -69.2% |
| Total equity and liabilities | 10/49 | €103,699 | €97,726 | -€5,972 | -5.8% |
| Equity | 10/15 | -€34,454 | -€33,522 | +€933 | +2.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €18,740 | €18,740 | = | 0.0% |
| Distributable reserves | 133 | €18,740 | €18,740 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€65,594 | -€64,662 | +€933 | +1.4% |
| Amounts payable | 17/49 | €138,153 | €131,248 | -€6,905 | -5.0% |
| Amounts payable after more than one year | 17 | €85,523 | €79,678 | -€5,845 | -6.8% |
| Financial debts | 170/4 | €52,773 | €46,928 | -€5,845 | -11.1% |
| Other amounts payable | 178/9 | €32,750 | €32,750 | = | 0.0% |
| Amounts payable within one year | 42/48 | €52,629 | €51,570 | -€1,059 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €5,614 | €5,845 | +€231 | +4.1% |
| Trade debts | 44 | €4,321 | €7,256 | +€2,936 | +67.9% |
| Suppliers | 440/4 | €4,321 | €7,256 | +€2,936 | +67.9% |
| Other amounts payable | 47/48 | €42,695 | €38,468 | -€4,226 | -9.9% |
| Non-recurring operating income | 76A | €2,750 | - | -€2,750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,258 | €7,373 | +€115 | +1.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,421 | +€3,421 | |
| Other operating charges | 640/8 | €1,286 | €1,376 | +€90 | +7.0% |
| Gross operating margin | 9900 | €20,320 | €15,490 | -€4,830 | -23.8% |
| Operating profit (loss) | 9901 | €11,775 | €3,320 | -€8,455 | -71.8% |
| Financial income | 75/76B | - | €15 | +€15 | |
| Recurring financial income | 75 | - | €15 | +€15 | |
| Financial charges | 65/66B | €2,616 | €2,403 | -€213 | -8.1% |
| Recurring financial charges | 65 | €2,616 | €2,403 | -€213 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | €9,160 | €933 | -€8,227 | -89.8% |
| Profit (loss) for the period | 9904 | €9,160 | €933 | -€8,227 | -89.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,160 | €933 | -€8,227 | -89.8% |
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 19 October 2026 via checked.be.