VERBRUGGEN & CLEMENT: 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.
VERBRUGGEN & CLEMENT
Largest movements
- Intangible fixed assets -€66,500
down €66,500 (-34.0%), from €195,799 to €129,299
- Receivables within one year -€61,849
down €61,849 (-34.3%), from €180,299 to €118,450
of which Other amounts receivable: -€67,340
- Tangible fixed assets -€15,007
down €15,007 (-7.8%), from €193,487 to €178,480
of which Land and buildings: -€9,890
- Cash +€13,685
up €13,685 (+179%), from €7,634 to €21,318
mainly Depreciation (+€91,004) and Receivables within one year (+€61,849)
- Debts after one year -€92,343
down €92,343 (-25.5%), from €361,615 to €269,272
- Short-term financial debts -€15,000
down €15,000 (-37.5%), from €40,000 to €25,000
- Trade debts -€13,533
down €13,533 (-97.9%), from €13,822 to €289
- Tax, wage and social debts -€8,812
down €8,812 (-64.8%), from €13,598 to €4,786
of which Remuneration and social security: -€12,458
- Write-downs +€73,750
new in 2025: €73,750
- Staff costs -€31,268
down €31,268 (-43.3%), from €72,198 to €40,930
- Gross operating margin +€24,136
up €24,136 (+10.2%), from €237,315 to €261,451
- Taxes -€9,509
down €9,509 (-57.8%), from €16,444 to €6,936
- Financial charges -€6,655
down €6,655 (-18.5%), from €36,069 to €29,414
of which Financial charges: -€8,161
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 | €580,451 | €453,120 | -€127,331 | -21.9% |
| Fixed assets | 21/28 | €389,286 | €307,779 | -€81,507 | -20.9% |
| Intangible fixed assets | 21 | €195,799 | €129,299 | -€66,500 | -34.0% |
| Tangible fixed assets | 22/27 | €193,487 | €178,480 | -€15,007 | -7.8% |
| Land and buildings | 22 | €171,084 | €161,194 | -€9,890 | -5.8% |
| Plant, machinery and equipment | 23 | €14,386 | €11,558 | -€2,828 | -19.7% |
| Furniture and vehicles | 24 | €1,049 | €510 | -€539 | -51.4% |
| Other tangible fixed assets | 26 | €6,968 | €5,218 | -€1,750 | -25.1% |
| Current assets | 29/58 | €191,165 | €145,341 | -€45,824 | -24.0% |
| Amounts receivable within one year | 40/41 | €180,299 | €118,450 | -€61,849 | -34.3% |
| Trade receivables | 40 | €98,993 | €104,485 | +€5,492 | +5.5% |
| Other amounts receivable | 41 | €81,306 | €13,965 | -€67,340 | -82.8% |
| Cash at bank and in hand | 54/58 | €7,634 | €21,318 | +€13,685 | +179% |
| Deferred charges and accrued income | 490/1 | €3,232 | €5,573 | +€2,340 | +72.4% |
| Total equity and liabilities | 10/49 | €580,451 | €453,120 | -€127,331 | -21.9% |
| Equity | 10/15 | €43,547 | €44,328 | +€781 | +1.8% |
| Reserves | 13 | €43,547 | €44,328 | +€781 | +1.8% |
| Distributable reserves | 133 | €43,547 | €44,328 | +€781 | +1.8% |
| Amounts payable | 17/49 | €536,904 | €408,792 | -€128,112 | -23.9% |
| Amounts payable after more than one year | 17 | €361,615 | €269,272 | -€92,343 | -25.5% |
| Financial debts | 170/4 | €361,615 | €269,272 | -€92,343 | -25.5% |
| Amounts payable within one year | 42/48 | €175,289 | €139,520 | -€35,769 | -20.4% |
| Current portion of amounts payable after more than one year | 42 | €105,209 | €107,454 | +€2,245 | +2.1% |
| Financial debts | 43 | €40,000 | €25,000 | -€15,000 | -37.5% |
| Credit institutions | 430/8 | €40,000 | €25,000 | -€15,000 | -37.5% |
| Trade debts | 44 | €13,822 | €289 | -€13,533 | -97.9% |
| Suppliers | 440/4 | €13,822 | €289 | -€13,533 | -97.9% |
| Taxes, remuneration and social security | 45 | €13,598 | €4,786 | -€8,812 | -64.8% |
| Taxes | 450/3 | €1,140 | €4,786 | +€3,646 | +320% |
| Remuneration and social security | 454/9 | €12,458 | - | -€12,458 | |
| Other amounts payable | 47/48 | €2,660 | €1,991 | -€669 | -25.2% |
| Remuneration, social security and pensions | 62 | €72,198 | €40,930 | -€31,268 | -43.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,641 | €91,004 | -€1,638 | -1.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €73,750 | +€73,750 | |
| Other operating charges | 640/8 | €8,293 | €8,752 | +€459 | +5.5% |
| Gross operating margin | 9900 | €237,315 | €261,451 | +€24,136 | +10.2% |
| Operating profit (loss) | 9901 | €64,184 | €47,016 | -€17,167 | -26.7% |
| Financial income | 75/76B | €30 | €1,565 | +€1,535 | +5,144% |
| Recurring financial income | 75 | €30 | €38 | +€8 | +26.5% |
| Non-recurring financial income | 76B | - | €1,527 | +€1,527 | |
| Financial charges | 65/66B | €36,069 | €29,414 | -€6,655 | -18.5% |
| Recurring financial charges | 65 | €34,221 | €26,061 | -€8,161 | -23.8% |
| Non-recurring financial charges | 66B | €1,848 | €3,353 | +€1,505 | +81.5% |
| Profit (loss) for the period before taxes | 9903 | €28,144 | €19,167 | -€8,977 | -31.9% |
| Income taxes | 67/77 | €16,444 | €6,936 | -€9,509 | -57.8% |
| Profit (loss) for the period | 9904 | €11,700 | €12,232 | +€532 | +4.5% |
| Transfer from tax-exempt reserves | 789 | €24,934 | - | -€24,934 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,634 | €12,232 | -€24,403 | -66.6% |
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 28 October 2026 via checked.be.