Vercauteren Patrick: what changed
Vercauteren Patrick
Largest movements
- Stocks and contracts +€73,649
up €73,649 (+314%), from €23,459 to €97,109
- Tangible fixed assets -€30,817
down €30,817 (-18.1%), from €170,007 to €139,191
of which Land and buildings: -€23,970
- Receivables within one year +€15,752
up €15,752 (+67.2%), from €23,441 to €39,193
of which Trade receivables: +€8,739
- Cash +€8,564
up €8,564 (+71.0%), from €12,062 to €20,626
mainly Other debts (+€50,641) and Depreciation (+€35,222)
- Other debts +€50,641
up €50,641 (+360%), from €14,061 to €64,703
- Short-term financial debts +€30,000
new in 2025: €30,000
- Debts after one year -€14,833
down €14,833 (-7.7%), from €193,445 to €178,612
of which Financial debts: -€14,833
- Profit (loss) carried forward +€5,985
up €5,985 (+13.5%), from -€44,477 to -€38,492
- Tax, wage and social debts -€5,135
down €5,135 (-98.6%), from €5,210 to €75
- Gross operating margin +€38,877
up €38,877 (+378%), from €10,287 to €49,164
- Depreciation -€2,474
down €2,474 (-6.6%), from €37,696 to €35,222
- Other operating charges -€1,102
down €1,102 (-24.5%), from €4,496 to €3,394
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 | €235,915 | €303,315 | +€67,400 | +28.6% |
| Fixed assets | 21/28 | €170,007 | €139,191 | -€30,817 | -18.1% |
| Tangible fixed assets | 22/27 | €170,007 | €139,191 | -€30,817 | -18.1% |
| Land and buildings | 22 | €140,602 | €116,632 | -€23,970 | -17.0% |
| Plant, machinery and equipment | 23 | €8,126 | €7,749 | -€377 | -4.6% |
| Furniture and vehicles | 24 | €21,280 | €14,810 | -€6,470 | -30.4% |
| Current assets | 29/58 | €65,907 | €164,124 | +€98,217 | +149% |
| Stocks and contracts in progress | 3 | €23,459 | €97,109 | +€73,649 | +314% |
| Stocks | 30/36 | €23,459 | €97,109 | +€73,649 | +314% |
| Amounts receivable within one year | 40/41 | €23,441 | €39,193 | +€15,752 | +67.2% |
| Trade receivables | 40 | €20,409 | €29,148 | +€8,739 | +42.8% |
| Other amounts receivable | 41 | €3,032 | €10,045 | +€7,013 | +231% |
| Cash at bank and in hand | 54/58 | €12,062 | €20,626 | +€8,564 | +71.0% |
| Deferred charges and accrued income | 490/1 | €6,945 | €7,197 | +€252 | +3.6% |
| Total equity and liabilities | 10/49 | €235,915 | €303,315 | +€67,400 | +28.6% |
| Equity | 10/15 | €5,933 | €11,918 | +€5,985 | +101% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €31,818 | €31,818 | = | 0.0% |
| Distributable reserves | 133 | €31,818 | €31,818 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,477 | -€38,492 | +€5,985 | +13.5% |
| Amounts payable | 17/49 | €229,982 | €291,397 | +€61,415 | +26.7% |
| Amounts payable after more than one year | 17 | €193,445 | €178,612 | -€14,833 | -7.7% |
| Financial debts | 170/4 | €93,445 | €78,612 | -€14,833 | -15.9% |
| Other amounts payable | 178/9 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €36,537 | €112,786 | +€76,248 | +209% |
| Current portion of amounts payable after more than one year | 42 | €14,550 | €14,833 | +€283 | +1.9% |
| Financial debts | 43 | - | €30,000 | +€30,000 | |
| Credit institutions | 430/8 | - | €30,000 | +€30,000 | |
| Trade debts | 44 | €2,715 | €3,174 | +€459 | +16.9% |
| Suppliers | 440/4 | €2,715 | €3,174 | +€459 | +16.9% |
| Taxes, remuneration and social security | 45 | €5,210 | €75 | -€5,135 | -98.6% |
| Taxes | 450/3 | €5,210 | €75 | -€5,135 | -98.6% |
| Other amounts payable | 47/48 | €14,061 | €64,703 | +€50,641 | +360% |
| Non-recurring operating income | 76A | €0 | €8,597 | +€8,597 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,696 | €35,222 | -€2,474 | -6.6% |
| Other operating charges | 640/8 | €4,496 | €3,394 | -€1,102 | -24.5% |
| Gross operating margin | 9900 | €10,287 | €49,164 | +€38,877 | +378% |
| Operating profit (loss) | 9901 | -€31,904 | €10,548 | +€42,452 | |
| Financial income | 75/76B | €91 | €10 | -€81 | -89.0% |
| Recurring financial income | 75 | €91 | €10 | -€81 | -89.0% |
| Financial charges | 65/66B | €3,197 | €3,299 | +€102 | +3.2% |
| Recurring financial charges | 65 | €3,197 | €3,299 | +€102 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | -€35,011 | €7,259 | +€42,270 | |
| Income taxes | 67/77 | €1,092 | €1,274 | +€182 | +16.7% |
| Profit (loss) for the period | 9904 | -€36,102 | €5,985 | +€42,087 | |
| Profit (loss) for the period to be appropriated | 9905 | -€36,102 | €5,985 | +€42,087 |
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 8 November 2026 via checked.be.