VASSEUR-SEVRIN: 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.
VASSEUR-SEVRIN
Largest movements
- Tangible fixed assets +€29,624
up €29,624 (+109%), from €27,068 to €56,692
of which Furniture and vehicles: +€32,777
- Cash +€21,409
up €21,409 (+6.5%), from €329,923 to €351,332
mainly Net result for the year (+€76,997) and Debts after one year (+€25,713)
- Receivables within one year +€21,233
up €21,233 (+34.1%), from €62,326 to €83,558
of which Trade receivables: +€21,780
- Debts after one year +€25,713
new in 2025: €25,713
- Reserves +€15,717
up €15,717 (+4.5%), from €347,641 to €363,358
- Trade debts +€13,757
up €13,757 (+30.8%), from €44,656 to €58,412
- Current portion of long-term debt +€7,359
new in 2025: €7,359
- Gross operating margin -€16,751
down €16,751 (-11.5%), from €145,348 to €128,596
- Depreciation +€7,487
up €7,487 (+85.5%), from €8,753 to €16,240
- Taxes -€1,868
down €1,868 (-5.0%), from €36,997 to €35,129
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 | €500,709 | €567,446 | +€66,736 | +13.3% |
| Fixed assets | 21/28 | €27,068 | €56,692 | +€29,624 | +109% |
| Tangible fixed assets | 22/27 | €27,068 | €56,692 | +€29,624 | +109% |
| Plant, machinery and equipment | 23 | €1,937 | - | -€1,937 | |
| Furniture and vehicles | 24 | €6,666 | €39,443 | +€32,777 | +492% |
| Other tangible fixed assets | 26 | €18,464 | €17,249 | -€1,215 | -6.6% |
| Current assets | 29/58 | €473,641 | €510,753 | +€37,112 | +7.8% |
| Stocks and contracts in progress | 3 | €72,777 | €67,165 | -€5,612 | -7.7% |
| Stocks | 30/36 | €72,777 | €67,165 | -€5,612 | -7.7% |
| Amounts receivable within one year | 40/41 | €62,326 | €83,558 | +€21,233 | +34.1% |
| Trade receivables | 40 | €37,211 | €58,991 | +€21,780 | +58.5% |
| Other amounts receivable | 41 | €25,115 | €24,567 | -€548 | -2.2% |
| Cash at bank and in hand | 54/58 | €329,923 | €351,332 | +€21,409 | +6.5% |
| Deferred charges and accrued income | 490/1 | €8,616 | €8,698 | +€82 | +1.0% |
| Total equity and liabilities | 10/49 | €500,709 | €567,446 | +€66,736 | +13.3% |
| Equity | 10/15 | €387,641 | €403,358 | +€15,717 | +4.1% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €347,641 | €363,358 | +€15,717 | +4.5% |
| Distributable reserves | 133 | €347,641 | €363,358 | +€15,717 | +4.5% |
| Amounts payable | 17/49 | €113,068 | €164,088 | +€51,019 | +45.1% |
| Amounts payable after more than one year | 17 | - | €25,713 | +€25,713 | |
| Financial debts | 170/4 | - | €25,713 | +€25,713 | |
| Amounts payable within one year | 42/48 | €113,068 | €138,375 | +€25,306 | +22.4% |
| Current portion of amounts payable after more than one year | 42 | - | €7,359 | +€7,359 | |
| Financial debts | 43 | - | €2,757 | +€2,757 | |
| Other loans | 439 | - | €2,757 | +€2,757 | |
| Trade debts | 44 | €44,656 | €58,412 | +€13,757 | +30.8% |
| Suppliers | 440/4 | €44,656 | €58,412 | +€13,757 | +30.8% |
| Taxes, remuneration and social security | 45 | €3,502 | €8,566 | +€5,064 | +145% |
| Taxes | 450/3 | €21 | €5,085 | +€5,064 | +24,021% |
| Remuneration and social security | 454/9 | €3,481 | €3,481 | = | 0.0% |
| Other amounts payable | 47/48 | €64,910 | €61,280 | -€3,630 | -5.6% |
| Remuneration, social security and pensions | 62 | €163 | - | -€163 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,753 | €16,240 | +€7,487 | +85.5% |
| Other operating charges | 640/8 | €2,411 | €1,373 | -€1,038 | -43.0% |
| Gross operating margin | 9900 | €145,348 | €128,596 | -€16,751 | -11.5% |
| Operating profit (loss) | 9901 | €134,020 | €110,983 | -€23,037 | -17.2% |
| Financial income | 75/76B | €3,630 | €3,573 | -€57 | -1.6% |
| Recurring financial income | 75 | €3,630 | €3,573 | -€57 | -1.6% |
| Financial charges | 65/66B | €1,972 | €2,430 | +€458 | +23.2% |
| Recurring financial charges | 65 | €1,972 | €2,430 | +€458 | +23.2% |
| Profit (loss) for the period before taxes | 9903 | €135,678 | €112,126 | -€23,552 | -17.4% |
| Income taxes | 67/77 | €36,997 | €35,129 | -€1,868 | -5.0% |
| Profit (loss) for the period | 9904 | €98,680 | €76,997 | -€21,684 | -22.0% |
| Profit (loss) for the period to be appropriated | 9905 | €98,680 | €76,997 | -€21,684 | -22.0% |
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 24 October 2026 via checked.be.