VERGAUWEN: 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.
VERGAUWEN
Largest movements
- Tangible fixed assets -€22,078
down €22,078 (-7.3%), from €303,352 to €281,274
of which Furniture and vehicles: -€16,211
- Receivables within one year +€16,219
up €16,219 (+27.3%), from €59,456 to €75,675
of which Trade receivables: +€16,212
- Cash -€15,115
down €15,115 (-29.2%), from €51,842 to €36,727
mainly Debts after one year (-€24,914) and Receivables within one year (-€16,219)
- Deferred charges and accrued income +€9,500
up €9,500 (+146%), from €6,518 to €16,019
- Intangible fixed assets +€8,511
up €8,511 (+258%), from €3,294 to €11,804
- Debts after one year -€24,914
down €24,914 (-10.1%), from €246,790 to €221,875
- Trade debts +€24,420
up €24,420 (+131%), from €18,614 to €43,034
- Reserves +€10,404
up €10,404 (+12.0%), from €86,990 to €97,394
- Other debts -€8,501
down €8,501 (-53.2%), from €15,990 to €7,488
- Staff costs +€42,307
up €42,307 (+327%), from €12,947 to €55,253
- Taxes -€8,163
down €8,163 (-65.0%), from €12,556 to €4,393
- Gross operating margin +€7,282
up €7,282 (+6.7%), from €108,973 to €116,255
- Depreciation +€4,978
up €4,978 (+20.7%), from €24,090 to €29,068
- Other operating charges +€1,420
up €1,420 (+28.8%), from €4,925 to €6,345
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 | €425,040 | €422,077 | -€2,963 | -0.7% |
| Fixed assets | 21/28 | €307,224 | €293,657 | -€13,568 | -4.4% |
| Intangible fixed assets | 21 | €3,294 | €11,804 | +€8,511 | +258% |
| Tangible fixed assets | 22/27 | €303,352 | €281,274 | -€22,078 | -7.3% |
| Land and buildings | 22 | €225,922 | €221,105 | -€4,817 | -2.1% |
| Plant, machinery and equipment | 23 | €10,123 | €9,073 | -€1,051 | -10.4% |
| Furniture and vehicles | 24 | €67,306 | €51,096 | -€16,211 | -24.1% |
| Financial fixed assets | 28 | €579 | €579 | = | 0.0% |
| Current assets | 29/58 | €117,816 | €128,420 | +€10,604 | +9.0% |
| Amounts receivable within one year | 40/41 | €59,456 | €75,675 | +€16,219 | +27.3% |
| Trade receivables | 40 | €59,456 | €75,668 | +€16,212 | +27.3% |
| Other amounts receivable | 41 | - | €7 | +€7 | |
| Cash at bank and in hand | 54/58 | €51,842 | €36,727 | -€15,115 | -29.2% |
| Deferred charges and accrued income | 490/1 | €6,518 | €16,019 | +€9,500 | +146% |
| Total equity and liabilities | 10/49 | €425,040 | €422,077 | -€2,963 | -0.7% |
| Equity | 10/15 | €91,990 | €102,394 | +€10,404 | +11.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €86,990 | €97,394 | +€10,404 | +12.0% |
| Distributable reserves | 133 | €86,990 | €97,394 | +€10,404 | +12.0% |
| Amounts payable | 17/49 | €333,050 | €319,683 | -€13,367 | -4.0% |
| Amounts payable after more than one year | 17 | €246,790 | €221,875 | -€24,914 | -10.1% |
| Financial debts | 170/4 | €246,790 | €221,875 | -€24,914 | -10.1% |
| Amounts payable within one year | 42/48 | €80,465 | €96,097 | +€15,632 | +19.4% |
| Current portion of amounts payable after more than one year | 42 | €24,038 | €24,914 | +€876 | +3.6% |
| Trade debts | 44 | €18,614 | €43,034 | +€24,420 | +131% |
| Suppliers | 440/4 | €18,614 | €43,034 | +€24,420 | +131% |
| Taxes, remuneration and social security | 45 | €21,823 | €20,660 | -€1,163 | -5.3% |
| Taxes | 450/3 | €21,354 | €16,360 | -€4,994 | -23.4% |
| Remuneration and social security | 454/9 | €470 | €4,300 | +€3,831 | +816% |
| Other amounts payable | 47/48 | €15,990 | €7,488 | -€8,501 | -53.2% |
| Accrued charges and deferred income | 492/3 | €5,796 | €1,710 | -€4,085 | -70.5% |
| Remuneration, social security and pensions | 62 | €12,947 | €55,253 | +€42,307 | +327% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,090 | €29,068 | +€4,978 | +20.7% |
| Other operating charges | 640/8 | €4,925 | €6,345 | +€1,420 | +28.8% |
| Gross operating margin | 9900 | €108,973 | €116,255 | +€7,282 | +6.7% |
| Operating profit (loss) | 9901 | €67,012 | €25,589 | -€41,423 | -61.8% |
| Financial income | 75/76B | €8 | €1,162 | +€1,154 | +15,164% |
| Recurring financial income | 75 | €8 | €1,162 | +€1,154 | +15,164% |
| Financial charges | 65/66B | €11,852 | €11,953 | +€101 | +0.9% |
| Recurring financial charges | 65 | €11,852 | €11,953 | +€101 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €55,168 | €14,797 | -€40,370 | -73.2% |
| Income taxes | 67/77 | €12,556 | €4,393 | -€8,163 | -65.0% |
| Profit (loss) for the period | 9904 | €42,612 | €10,404 | -€32,208 | -75.6% |
| Profit (loss) for the period to be appropriated | 9905 | €42,612 | €10,404 | -€32,208 | -75.6% |
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 31 October 2026 via checked.be.