VERCOBEL CONSTRUCT: what changed
Two fiscal 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.
VERCOBEL CONSTRUCT
Largest movements
- Receivables within one year +€54,056
up €54,056 (+91.1%), from €59,330 to €113,386
of which Other amounts receivable: +€51,133
- Tangible fixed assets -€10,842
down €10,842 (-65.2%), from €16,619 to €5,777
- Cash +€1,760
up €1,760 (+7175.0%), from €25 to €1,785
mainly Net result for the year (+€36,801) and Depreciation (+€10,842)
- Profit (loss) carried forward +€25,751
no longer reported in 2025 (was -€25,751)
- Reserves +€11,050
up €11,050 (+28.4%), from €38,923 to €49,973
of which Distributable reserves: +€11,050
- Tax, wage and social debts +€5,418
up €5,418 (+500.6%), from €1,082 to €6,500
- Trade debts +€2,755
up €2,755 (+18.0%), from €15,274 to €18,029
- Gross operating margin +€62,403
up €62,403, from -€3,949 to €58,454
- Taxes +€8,329
new in 2025: €8,329
- Depreciation -€6,442
down €6,442 (-37.3%), from €17,285 to €10,842
- Other operating charges +€5,964
up €5,964 (+1828.4%), from €326 to €6,290
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.
Cash bridge derived
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 | €75,973 | €120,947 | +€44,974 | +59.2% |
| Fixed assets | 21/28 | €16,619 | €5,777 | -€10,842 | -65.2% |
| Tangible fixed assets | 22/27 | €16,619 | €5,777 | -€10,842 | -65.2% |
| Furniture and vehicles | 24 | €16,619 | €5,777 | -€10,842 | -65.2% |
| Current assets | 29/58 | €59,354 | €115,170 | +€55,816 | +94.0% |
| Amounts receivable within one year | 40/41 | €59,330 | €113,386 | +€54,056 | +91.1% |
| Trade receivables | 40 | €63 | €2,987 | +€2,924 | +4628.9% |
| Other amounts receivable | 41 | €59,267 | €110,399 | +€51,133 | +86.3% |
| Cash at bank and in hand | 54/58 | €25 | €1,785 | +€1,760 | +7175.0% |
| Total equity and liabilities | 10/49 | €75,973 | €120,947 | +€44,974 | +59.2% |
| Equity | 10/15 | €20,672 | €57,473 | +€36,801 | +178.0% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Outside capital | 11 | €7,500 | €7,500 | = | 0.0% |
| Other | 1109/19 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €38,923 | €49,973 | +€11,050 | +28.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,300 | €8,300 | = | 0.0% |
| Distributable reserves | 133 | €28,763 | €39,813 | +€11,050 | +38.4% |
| Profit (loss) carried forward | 14 | -€25,751 | - | +€25,751 | |
| Amounts payable | 17/49 | €55,301 | €63,474 | +€8,173 | +14.8% |
| Amounts payable within one year | 42/48 | €55,301 | €63,474 | +€8,173 | +14.8% |
| Trade debts | 44 | €15,274 | €18,029 | +€2,755 | +18.0% |
| Suppliers | 440/4 | €15,274 | €18,029 | +€2,755 | +18.0% |
| Advances received on contracts in progress | 46 | €10,000 | €10,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €1,082 | €6,500 | +€5,418 | +500.6% |
| Taxes | 450/3 | €1,082 | €6,500 | +€5,418 | +500.6% |
| Other amounts payable | 47/48 | €28,945 | €28,945 | = | 0.0% |
| Non-recurring operating income | 76A | €6,000 | - | -€6,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,285 | €10,842 | -€6,442 | -37.3% |
| Other operating charges | 640/8 | €326 | €6,290 | +€5,964 | +1828.4% |
| Gross operating margin | 9900 | -€3,949 | €58,454 | +€62,403 | |
| Operating profit (loss) | 9901 | -€21,560 | €41,322 | +€62,881 | |
| Financial income | 75/76B | €4,253 | €4,382 | +€130 | +3.1% |
| Recurring financial income | 75 | €4,253 | €4,382 | +€130 | +3.1% |
| Financial charges | 65/66B | €467 | €574 | +€107 | +23.0% |
| Recurring financial charges | 65 | €467 | €574 | +€107 | +23.0% |
| Profit (loss) for the period before taxes | 9903 | -€17,775 | €45,129 | +€62,904 | |
| Income taxes | 67/77 | - | €8,329 | +€8,329 | |
| Profit (loss) for the period | 9904 | -€17,775 | €36,801 | +€54,575 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,775 | €36,801 | +€54,575 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.