VERCAMMEN: 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.
VERCAMMEN
Largest movements
- Tangible fixed assets -€21,040
down €21,040 (-12.4%), from €169,064 to €148,024
of which Furniture and vehicles: -€12,203
- Cash -€12,182
down €12,182 (-45.9%), from €26,515 to €14,333
mainly Debts after one year (-€15,481) and Current investments (-€10,484)
- Current investments +€10,484
up €10,484 (+11.0%), from €95,195 to €105,680
- Receivables within one year +€4,799
up €4,799 (+41.1%), from €11,673 to €16,472
of which Other amounts receivable: +€6,000
- Debts after one year -€15,481
down €15,481 (-49.3%), from €31,377 to €15,896
- Reserves -€3,465
down €3,465 (-1.4%), from €250,729 to €247,264
of which Distributable reserves: -€3,465
- Gross operating margin -€17,351
down €17,351 (-39.5%), from €43,905 to €26,554
- Taxes -€4,446
down €4,446 (-95.5%), from €4,653 to €207
- Financial income +€576
up €576 (+497%), from €116 to €691
- Other operating charges -€457
down €457 (-11.8%), from €3,867 to €3,410
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 | €302,457 | €284,518 | -€17,939 | -5.9% |
| Fixed assets | 21/28 | €169,074 | €148,034 | -€21,040 | -12.4% |
| Tangible fixed assets | 22/27 | €169,064 | €148,024 | -€21,040 | -12.4% |
| Land and buildings | 22 | €128,312 | €119,719 | -€8,592 | -6.7% |
| Plant, machinery and equipment | 23 | €1,206 | €960 | -€245 | -20.3% |
| Furniture and vehicles | 24 | €39,547 | €27,344 | -€12,203 | -30.9% |
| Financial fixed assets | 28 | €10 | €10 | = | 0.0% |
| Current assets | 29/58 | €133,383 | €136,484 | +€3,101 | +2.3% |
| Amounts receivable within one year | 40/41 | €11,673 | €16,472 | +€4,799 | +41.1% |
| Trade receivables | 40 | €9,487 | €8,286 | -€1,201 | -12.7% |
| Other amounts receivable | 41 | €2,186 | €8,186 | +€6,000 | +274% |
| Current investments | 50/53 | €95,195 | €105,680 | +€10,484 | +11.0% |
| Cash at bank and in hand | 54/58 | €26,515 | €14,333 | -€12,182 | -45.9% |
| Total equity and liabilities | 10/49 | €302,457 | €284,518 | -€17,939 | -5.9% |
| Equity | 10/15 | €269,329 | €265,864 | -€3,465 | -1.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €250,729 | €247,264 | -€3,465 | -1.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €248,869 | €245,404 | -€3,465 | -1.4% |
| Amounts payable | 17/49 | €33,128 | €18,654 | -€14,474 | -43.7% |
| Amounts payable after more than one year | 17 | €31,377 | €15,896 | -€15,481 | -49.3% |
| Financial debts | 170/4 | €31,377 | €15,896 | -€15,481 | -49.3% |
| Amounts payable within one year | 42/48 | €1,751 | €2,758 | +€1,007 | +57.5% |
| Taxes, remuneration and social security | 45 | €805 | €805 | = | 0.0% |
| Taxes | 450/3 | €805 | €805 | = | 0.0% |
| Other amounts payable | 47/48 | €946 | €1,953 | +€1,007 | +106% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,297 | €26,365 | +€68 | +0.3% |
| Other operating charges | 640/8 | €3,867 | €3,410 | -€457 | -11.8% |
| Gross operating margin | 9900 | €43,905 | €26,554 | -€17,351 | -39.5% |
| Operating profit (loss) | 9901 | €13,741 | -€3,220 | -€16,961 | |
| Financial income | 75/76B | €116 | €691 | +€576 | +497% |
| Recurring financial income | 75 | €116 | €691 | +€576 | +497% |
| Financial charges | 65/66B | €1,157 | €729 | -€429 | -37.0% |
| Recurring financial charges | 65 | €1,157 | €729 | -€429 | -37.0% |
| Profit (loss) for the period before taxes | 9903 | €12,699 | -€3,258 | -€15,957 | |
| Income taxes | 67/77 | €4,653 | €207 | -€4,446 | -95.5% |
| Profit (loss) for the period | 9904 | €8,046 | -€3,465 | -€11,511 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,046 | -€3,465 | -€11,511 |
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 18 October 2026 via checked.be.