VEIRMAN & C°: what changed
VEIRMAN & C°
Largest movements
- Current investments -€106,668
down €106,668 (-38.7%), from €275,412 to €168,745
- Cash +€94,182
up €94,182 (+159%), from €59,233 to €153,415
mainly Current investments (+€106,668) and Contributions, distributions and other (+€27,194)
- Deferred charges and accrued income +€7,581
new in 2025: €7,581
- Reserves +€46,829
up €46,829 (+18.7%), from €250,726 to €297,555
of which Distributable reserves: +€36,647
- Other debts -€27,953
down €27,953 (-32.8%), from €85,229 to €57,277
- Trade debts -€18,722
no longer reported in 2025 (was €18,722)
- Short-term financial debts -€12,185
down €12,185 (-8.9%), from €137,185 to €125,000
- Tax, wage and social debts +€7,701
up €7,701 (+384%), from €2,007 to €9,708
of which Remuneration and social security: +€8,234
- Gross operating margin -€82,221
down €82,221 (-44.1%), from €186,477 to €104,256
- Taxes -€24,089
down €24,089 (-73.1%), from €32,948 to €8,859
- Staff costs +€23,020
up €23,020 (+56.3%), from €40,890 to €63,910
- Financial charges -€6,791
down €6,791 (-38.2%), from €17,800 to €11,008
- Other operating charges -€6,193
down €6,193 (-91.5%), from €6,768 to €575
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €573,869 | €569,540 | -€4,329 | -0.8% |
| Fixed assets | 21/28 | €5,940 | €4,275 | -€1,665 | -28.0% |
| Tangible fixed assets | 22/27 | €4,522 | €2,857 | -€1,665 | -36.8% |
| Furniture and vehicles | 24 | €4,522 | €2,857 | -€1,665 | -36.8% |
| Financial fixed assets | 28 | €1,419 | €1,419 | = | 0.0% |
| Current assets | 29/58 | €567,928 | €565,265 | -€2,663 | -0.5% |
| Amounts receivable after more than one year | 29 | €220,000 | €220,000 | = | 0.0% |
| Other amounts receivable | 291 | €220,000 | €220,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €13,283 | €15,524 | +€2,241 | +16.9% |
| Trade receivables | 40 | €12,229 | €10,124 | -€2,105 | -17.2% |
| Other amounts receivable | 41 | €1,054 | €5,400 | +€4,345 | +412% |
| Current investments | 50/53 | €275,412 | €168,745 | -€106,668 | -38.7% |
| Cash at bank and in hand | 54/58 | €59,233 | €153,415 | +€94,182 | +159% |
| Deferred charges and accrued income | 490/1 | - | €7,581 | +€7,581 | |
| Total equity and liabilities | 10/49 | €573,869 | €569,540 | -€4,329 | -0.8% |
| Equity | 10/15 | €330,726 | €377,555 | +€46,829 | +14.2% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Capital | 10 | €80,000 | €80,000 | = | 0.0% |
| Issued capital | 100 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €250,726 | €297,555 | +€46,829 | +18.7% |
| Non-distributable reserves | 130/1 | €37,804 | €37,804 | = | 0.0% |
| Legal reserve | 130 | €37,804 | €37,804 | = | 0.0% |
| Tax-exempt reserves | 132 | €52,625 | €62,807 | +€10,182 | +19.3% |
| Distributable reserves | 133 | €160,297 | €196,944 | +€36,647 | +22.9% |
| Amounts payable | 17/49 | €243,143 | €191,985 | -€51,158 | -21.0% |
| Amounts payable within one year | 42/48 | €243,143 | €191,985 | -€51,158 | -21.0% |
| Financial debts | 43 | €137,185 | €125,000 | -€12,185 | -8.9% |
| Credit institutions | 430/8 | €137,185 | €125,000 | -€12,185 | -8.9% |
| Trade debts | 44 | €18,722 | - | -€18,722 | |
| Suppliers | 440/4 | €18,722 | - | -€18,722 | |
| Taxes, remuneration and social security | 45 | €2,007 | €9,708 | +€7,701 | +384% |
| Taxes | 450/3 | €2,007 | €1,474 | -€533 | -26.6% |
| Remuneration and social security | 454/9 | - | €8,234 | +€8,234 | |
| Other amounts payable | 47/48 | €85,229 | €57,277 | -€27,953 | -32.8% |
| Remuneration, social security and pensions | 62 | €40,890 | €63,910 | +€23,020 | +56.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,944 | €1,665 | -€279 | -14.4% |
| Other operating charges | 640/8 | €6,768 | €575 | -€6,193 | -91.5% |
| Gross operating margin | 9900 | €186,477 | €104,256 | -€82,221 | -44.1% |
| Operating profit (loss) | 9901 | €136,874 | €38,105 | -€98,769 | -72.2% |
| Financial income | 75/76B | - | €1,397 | +€1,397 | |
| Recurring financial income | 75 | - | €1,397 | +€1,397 | |
| Financial charges | 65/66B | €17,800 | €11,008 | -€6,791 | -38.2% |
| Recurring financial charges | 65 | €17,800 | €11,008 | -€6,791 | -38.2% |
| Profit (loss) for the period before taxes | 9903 | €119,074 | €28,494 | -€90,581 | -76.1% |
| Income taxes | 67/77 | €32,948 | €8,859 | -€24,089 | -73.1% |
| Profit (loss) for the period | 9904 | €86,126 | €19,635 | -€66,491 | -77.2% |
| Transfer to tax-exempt reserves | 689 | €52,625 | €10,182 | -€42,443 | -80.7% |
| Profit (loss) for the period to be appropriated | 9905 | €33,501 | €9,453 | -€24,048 | -71.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.