Vercruysse: what changed
Vercruysse
Largest movements
- Cash -€90,218
down €90,218 (-44.3%), from €203,507 to €113,289
mainly Contributions, distributions and other (-€117,647) and Deferred charges and accrued income (-€25,226)
- Deferred charges and accrued income +€25,226
up €25,226 (+668%), from €3,778 to €29,004
- Intangible fixed assets -€15,400
down €15,400 (-66.7%), from €23,100 to €7,700
- Receivables within one year +€8,548
up €8,548 (+1,668%), from €513 to €9,060
- Tangible fixed assets +€8,498
up €8,498 (+8.3%), from €102,229 to €110,726
of which Plant, machinery and equipment: +€5,796
- Reserves -€55,299
down €55,299 (-18.8%), from €294,103 to €238,804
of which Distributable reserves: -€55,299
- Debts after one year -€5,557
no longer reported in 2025 (was €5,557)
- Current portion of long-term debt -€3,758
down €3,758 (-40.3%), from €9,315 to €5,557
- Gross operating margin +€48,080
up €48,080 (+74.8%), from €64,279 to €112,360
- Taxes +€11,697
up €11,697 (+90.4%), from €12,932 to €24,628
- Depreciation +€1,295
up €1,295 (+5.9%), from €21,806 to €23,101
- Other operating charges +€1,192
up €1,192 (+154%), from €772 to €1,964
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 | €333,126 | €269,780 | -€63,346 | -19.0% |
| Fixed assets | 21/28 | €125,329 | €118,426 | -€6,902 | -5.5% |
| Intangible fixed assets | 21 | €23,100 | €7,700 | -€15,400 | -66.7% |
| Tangible fixed assets | 22/27 | €102,229 | €110,726 | +€8,498 | +8.3% |
| Land and buildings | 22 | €98,136 | €102,861 | +€4,724 | +4.8% |
| Plant, machinery and equipment | 23 | €2,070 | €7,866 | +€5,796 | +280% |
| Furniture and vehicles | 24 | €2,022 | - | -€2,022 | |
| Current assets | 29/58 | €207,798 | €151,354 | -€56,444 | -27.2% |
| Amounts receivable within one year | 40/41 | €513 | €9,060 | +€8,548 | +1,668% |
| Other amounts receivable | 41 | €513 | €9,060 | +€8,548 | +1,668% |
| Cash at bank and in hand | 54/58 | €203,507 | €113,289 | -€90,218 | -44.3% |
| Deferred charges and accrued income | 490/1 | €3,778 | €29,004 | +€25,226 | +668% |
| Total equity and liabilities | 10/49 | €333,126 | €269,780 | -€63,346 | -19.0% |
| Equity | 10/15 | €312,703 | €257,404 | -€55,299 | -17.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €294,103 | €238,804 | -€55,299 | -18.8% |
| 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 | €292,243 | €236,944 | -€55,299 | -18.9% |
| Amounts payable | 17/49 | €20,424 | €12,376 | -€8,047 | -39.4% |
| Amounts payable after more than one year | 17 | €5,557 | - | -€5,557 | |
| Financial debts | 170/4 | €5,557 | - | -€5,557 | |
| Amounts payable within one year | 42/48 | €14,867 | €12,376 | -€2,491 | -16.8% |
| Current portion of amounts payable after more than one year | 42 | €9,315 | €5,557 | -€3,758 | -40.3% |
| Trade debts | 44 | €894 | €1,704 | +€810 | +90.5% |
| Suppliers | 440/4 | €894 | €1,704 | +€810 | +90.5% |
| Taxes, remuneration and social security | 45 | €3,932 | €5,116 | +€1,184 | +30.1% |
| Taxes | 450/3 | €3,932 | €5,116 | +€1,184 | +30.1% |
| Other amounts payable | 47/48 | €726 | - | -€726 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,806 | €23,101 | +€1,295 | +5.9% |
| Other operating charges | 640/8 | €772 | €1,964 | +€1,192 | +154% |
| Gross operating margin | 9900 | €64,279 | €112,360 | +€48,080 | +74.8% |
| Operating profit (loss) | 9901 | €41,702 | €87,295 | +€45,593 | +109% |
| Financial income | 75/76B | €66 | €98 | +€32 | +47.8% |
| Recurring financial income | 75 | €66 | €98 | +€32 | +47.8% |
| Financial charges | 65/66B | €257 | €416 | +€159 | +62.0% |
| Recurring financial charges | 65 | €257 | €416 | +€159 | +62.0% |
| Profit (loss) for the period before taxes | 9903 | €41,511 | €86,976 | +€45,466 | +110% |
| Income taxes | 67/77 | €12,932 | €24,628 | +€11,697 | +90.4% |
| Profit (loss) for the period | 9904 | €28,579 | €62,348 | +€33,769 | +118% |
| Profit (loss) for the period to be appropriated | 9905 | €28,579 | €62,348 | +€33,769 | +118% |
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 4 November 2026 via checked.be.