VANLERBERGHE-VERSCHAEVE: 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.
VANLERBERGHE-VERSCHAEVE
Largest movements
- Cash -€18,996
down €18,996 (-35.8%), from €53,060 to €34,064
mainly Investment in fixed assets (net) (-€95,516) and Trade debts (-€40,865)
- Tangible fixed assets +€10,606
up €10,606 (+2.2%), from €477,251 to €487,857
of which Plant, machinery and equipment: +€70,425
- Receivables within one year -€10,132
down €10,132 (-32.8%), from €30,897 to €20,765
of which Other amounts receivable: -€9,952
- Deferred charges and accrued income +€9,278
up €9,278 (+11.4%), from €81,498 to €90,776
- Debts after one year +€46,083
up €46,083 (+9.2%), from €503,548 to €549,632
- Trade debts -€40,865
down €40,865 (-53.5%), from €76,430 to €35,565
- Other debts -€12,915
down €12,915 (-52.0%), from €24,830 to €11,914
- Gross operating margin +€33,991
up €33,991 (+29.2%), from €116,244 to €150,235
- Depreciation +€22,321
up €22,321 (+35.7%), from €62,589 to €84,910
- Staff costs +€6,945
up €6,945 (+16.6%), from €41,872 to €48,817
- Financial charges +€3,812
up €3,812 (+42.2%), from €9,043 to €12,856
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 | €655,623 | €650,486 | -€5,137 | -0.8% |
| Fixed assets | 21/28 | €477,251 | €487,857 | +€10,606 | +2.2% |
| Tangible fixed assets | 22/27 | €477,251 | €487,857 | +€10,606 | +2.2% |
| Plant, machinery and equipment | 23 | €25,637 | €96,062 | +€70,425 | +275% |
| Furniture and vehicles | 24 | €8,939 | €4,307 | -€4,632 | -51.8% |
| Other tangible fixed assets | 26 | €442,675 | €387,488 | -€55,187 | -12.5% |
| Current assets | 29/58 | €178,373 | €162,629 | -€15,744 | -8.8% |
| Stocks and contracts in progress | 3 | €12,917 | €17,024 | +€4,107 | +31.8% |
| Stocks | 30/36 | €12,917 | €17,024 | +€4,107 | +31.8% |
| Amounts receivable within one year | 40/41 | €30,897 | €20,765 | -€10,132 | -32.8% |
| Trade receivables | 40 | €19,942 | €19,761 | -€180 | -0.9% |
| Other amounts receivable | 41 | €10,955 | €1,004 | -€9,952 | -90.8% |
| Cash at bank and in hand | 54/58 | €53,060 | €34,064 | -€18,996 | -35.8% |
| Deferred charges and accrued income | 490/1 | €81,498 | €90,776 | +€9,278 | +11.4% |
| Total equity and liabilities | 10/49 | €655,623 | €650,486 | -€5,137 | -0.8% |
| Equity | 10/15 | -€23,498 | -€20,684 | +€2,813 | +12.0% |
| Contributions | 10/11 | €78,600 | €78,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€102,098 | -€99,284 | +€2,813 | +2.8% |
| Amounts payable | 17/49 | €679,121 | €671,170 | -€7,951 | -1.2% |
| Amounts payable after more than one year | 17 | €503,548 | €549,632 | +€46,083 | +9.2% |
| Financial debts | 170/4 | €503,548 | €549,632 | +€46,083 | +9.2% |
| Amounts payable within one year | 42/48 | €172,032 | €119,716 | -€52,315 | -30.4% |
| Current portion of amounts payable after more than one year | 42 | €62,355 | €62,888 | +€533 | +0.9% |
| Trade debts | 44 | €76,430 | €35,565 | -€40,865 | -53.5% |
| Suppliers | 440/4 | €76,430 | €35,565 | -€40,865 | -53.5% |
| Taxes, remuneration and social security | 45 | €8,418 | €9,349 | +€932 | +11.1% |
| Taxes | 450/3 | €850 | - | -€850 | |
| Remuneration and social security | 454/9 | €7,568 | €9,349 | +€1,781 | +23.5% |
| Other amounts payable | 47/48 | €24,830 | €11,914 | -€12,915 | -52.0% |
| Accrued charges and deferred income | 492/3 | €3,541 | €1,822 | -€1,719 | -48.5% |
| Remuneration, social security and pensions | 62 | €41,872 | €48,817 | +€6,945 | +16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,589 | €84,910 | +€22,321 | +35.7% |
| Other operating charges | 640/8 | €1,715 | €942 | -€773 | -45.1% |
| Gross operating margin | 9900 | €116,244 | €150,235 | +€33,991 | +29.2% |
| Operating profit (loss) | 9901 | €10,067 | €15,565 | +€5,498 | +54.6% |
| Financial income | 75/76B | €106 | €104 | -€2 | -2.0% |
| Recurring financial income | 75 | €106 | €104 | -€2 | -2.0% |
| Financial charges | 65/66B | €9,043 | €12,856 | +€3,812 | +42.2% |
| Recurring financial charges | 65 | €9,043 | €12,856 | +€3,812 | +42.2% |
| Profit (loss) for the period before taxes | 9903 | €1,129 | €2,813 | +€1,684 | +149% |
| Profit (loss) for the period | 9904 | €1,129 | €2,813 | +€1,684 | +149% |
| Profit (loss) for the period to be appropriated | 9905 | €1,129 | €2,813 | +€1,684 | +149% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.