Vercautere: what changed
Vercautere
Largest movements
- Current investments +€63,414
new in 2025: €63,414
- Tangible fixed assets -€19,305
down €19,305 (-11.5%), from €168,269 to €148,964
of which Furniture and vehicles: -€15,732
- Cash -€13,726
down €13,726 (-16.1%), from €85,138 to €71,413
mainly Current investments (-€63,414) and Other debts (-€56,352)
- Reserves +€85,657
up €85,657 (+85.5%), from €100,130 to €185,787
of which Distributable reserves: +€85,657
- Other debts -€56,352
down €56,352 (-53.1%), from €106,088 to €49,736
- Tax, wage and social debts +€7,750
up €7,750 (+52.2%), from €14,857 to €22,607
of which Taxes: +€6,671
- Trade debts -€5,422
down €5,422 (-33.5%), from €16,179 to €10,757
- Accrued charges and deferred income -€3,196
down €3,196 (-65.2%), from €4,904 to €1,708
- Gross operating margin +€74,321
up €74,321 (+68.8%), from €108,053 to €182,374
- Taxes +€19,390
up €19,390 (+656%), from €2,956 to €22,346
- Depreciation +€4,578
up €4,578 (+26.3%), from €17,415 to €21,993
- Financial charges -€4,352
down €4,352 (-71.9%), from €6,050 to €1,698
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 | €260,750 | €289,187 | +€28,437 | +10.9% |
| Fixed assets | 21/28 | €168,269 | €148,964 | -€19,305 | -11.5% |
| Tangible fixed assets | 22/27 | €168,269 | €148,964 | -€19,305 | -11.5% |
| Land and buildings | 22 | €75,775 | €74,675 | -€1,100 | -1.5% |
| Plant, machinery and equipment | 23 | €16,901 | €14,427 | -€2,474 | -14.6% |
| Furniture and vehicles | 24 | €75,594 | €59,862 | -€15,732 | -20.8% |
| Current assets | 29/58 | €92,482 | €140,224 | +€47,742 | +51.6% |
| Stocks and contracts in progress | 3 | €3,146 | €2,758 | -€388 | -12.3% |
| Stocks | 30/36 | €3,146 | €2,758 | -€388 | -12.3% |
| Amounts receivable within one year | 40/41 | €1,783 | €947 | -€836 | -46.9% |
| Trade receivables | 40 | €1,783 | €929 | -€854 | -47.9% |
| Other amounts receivable | 41 | €0 | €18 | +€18 | |
| Current investments | 50/53 | - | €63,414 | +€63,414 | |
| Cash at bank and in hand | 54/58 | €85,138 | €71,413 | -€13,726 | -16.1% |
| Deferred charges and accrued income | 490/1 | €2,414 | €1,691 | -€723 | -30.0% |
| Total equity and liabilities | 10/49 | €260,750 | €289,187 | +€28,437 | +10.9% |
| Equity | 10/15 | €118,722 | €204,379 | +€85,657 | +72.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €100,130 | €185,787 | +€85,657 | +85.5% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €81,380 | €167,037 | +€85,657 | +105% |
| Amounts payable | 17/49 | €142,029 | €84,808 | -€57,220 | -40.3% |
| Amounts payable within one year | 42/48 | €137,125 | €83,100 | -€54,024 | -39.4% |
| Trade debts | 44 | €16,179 | €10,757 | -€5,422 | -33.5% |
| Suppliers | 440/4 | €16,179 | €10,757 | -€5,422 | -33.5% |
| Taxes, remuneration and social security | 45 | €14,857 | €22,607 | +€7,750 | +52.2% |
| Taxes | 450/3 | €11,345 | €18,015 | +€6,671 | +58.8% |
| Remuneration and social security | 454/9 | €3,513 | €4,592 | +€1,079 | +30.7% |
| Other amounts payable | 47/48 | €106,088 | €49,736 | -€56,352 | -53.1% |
| Accrued charges and deferred income | 492/3 | €4,904 | €1,708 | -€3,196 | -65.2% |
| Remuneration, social security and pensions | 62 | €48,911 | €48,708 | -€203 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,415 | €21,993 | +€4,578 | +26.3% |
| Other operating charges | 640/8 | €3,161 | €3,212 | +€51 | +1.6% |
| Gross operating margin | 9900 | €108,053 | €182,374 | +€74,321 | +68.8% |
| Operating profit (loss) | 9901 | €38,566 | €108,461 | +€69,895 | +181% |
| Financial income | 75/76B | €5 | €1,240 | +€1,235 | +22,744% |
| Recurring financial income | 75 | €5 | €1,240 | +€1,235 | +22,744% |
| Financial charges | 65/66B | €6,050 | €1,698 | -€4,352 | -71.9% |
| Recurring financial charges | 65 | €6,050 | €1,698 | -€4,352 | -71.9% |
| Profit (loss) for the period before taxes | 9903 | €32,521 | €108,004 | +€75,482 | +232% |
| Income taxes | 67/77 | €2,956 | €22,346 | +€19,390 | +656% |
| Profit (loss) for the period | 9904 | €29,565 | €85,657 | +€56,092 | +190% |
| Profit (loss) for the period to be appropriated | 9905 | €29,565 | €85,657 | +€56,092 | +190% |
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.