VERGAUWEN DAVID: what changed
VERGAUWEN DAVID
Largest movements
- Cash +€42,380
up €42,380 (+54.2%), from €78,236 to €120,616
mainly Net result for the year (+€34,203) and Depreciation (+€27,822)
- Tangible fixed assets -€27,017
down €27,017 (-25.0%), from €108,125 to €81,108
of which Furniture and vehicles: -€26,483
- Stocks and contracts +€21,536
up €21,536 (+3,694%), from €583 to €22,119
of which Contracts in progress: +€21,511
- Receivables within one year -€12,446
down €12,446 (-77.2%), from €16,112 to €3,666
of which Trade receivables: -€13,002
- Profit (loss) carried forward +€17,916
new in 2025: €17,916
- Reserves +€16,287
up €16,287 (+31.3%), from €52,021 to €68,308
- Debts after one year -€11,982
down €11,982 (-32.0%), from €37,389 to €25,407
- Trade debts +€4,866
up €4,866 (+24.5%), from €19,860 to €24,726
- Other debts -€3,483
down €3,483 (-5.0%), from €69,370 to €65,887
- Gross operating margin -€28,650
down €28,650 (-26.9%), from €106,452 to €77,802
- Taxes -€8,926
down €8,926 (-43.5%), from €20,542 to €11,616
- Depreciation -€1,460
down €1,460 (-5.0%), from €29,282 to €27,822
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 | €206,382 | €230,175 | +€23,792 | +11.5% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €108,130 | €81,113 | -€27,017 | -25.0% |
| Tangible fixed assets | 22/27 | €108,125 | €81,108 | -€27,017 | -25.0% |
| Plant, machinery and equipment | 23 | €4,060 | €3,526 | -€534 | -13.2% |
| Furniture and vehicles | 24 | €104,066 | €77,583 | -€26,483 | -25.4% |
| Financial fixed assets | 28 | €5 | €5 | = | 0.0% |
| Current assets | 29/58 | €98,252 | €149,061 | +€50,809 | +51.7% |
| Stocks and contracts in progress | 3 | €583 | €22,119 | +€21,536 | +3,694% |
| Stocks | 30/36 | €583 | €608 | +€25 | +4.3% |
| Contracts in progress | 37 | - | €21,511 | +€21,511 | |
| Amounts receivable within one year | 40/41 | €16,112 | €3,666 | -€12,446 | -77.2% |
| Trade receivables | 40 | €16,112 | €3,110 | -€13,002 | -80.7% |
| Other amounts receivable | 41 | - | €556 | +€556 | |
| Cash at bank and in hand | 54/58 | €78,236 | €120,616 | +€42,380 | +54.2% |
| Deferred charges and accrued income | 490/1 | €3,321 | €2,660 | -€661 | -19.9% |
| Total equity and liabilities | 10/49 | €206,382 | €230,175 | +€23,792 | +11.5% |
| Equity | 10/15 | €57,021 | €91,224 | +€34,203 | +60.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €52,021 | €68,308 | +€16,287 | +31.3% |
| Distributable reserves | 133 | €52,021 | €68,308 | +€16,287 | +31.3% |
| Profit (loss) carried forward | 14 | - | €17,916 | +€17,916 | |
| Amounts payable | 17/49 | €149,362 | €138,951 | -€10,411 | -7.0% |
| Amounts payable after more than one year | 17 | €37,389 | €25,407 | -€11,982 | -32.0% |
| Financial debts | 170/4 | €37,389 | €25,407 | -€11,982 | -32.0% |
| Amounts payable within one year | 42/48 | €111,423 | €111,840 | +€418 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €11,525 | €11,982 | +€457 | +4.0% |
| Trade debts | 44 | €19,860 | €24,726 | +€4,866 | +24.5% |
| Suppliers | 440/4 | €19,860 | €24,726 | +€4,866 | +24.5% |
| Taxes, remuneration and social security | 45 | €10,668 | €9,246 | -€1,422 | -13.3% |
| Taxes | 450/3 | €9,668 | €9,246 | -€422 | -4.4% |
| Remuneration and social security | 454/9 | €1,000 | - | -€1,000 | |
| Other amounts payable | 47/48 | €69,370 | €65,887 | -€3,483 | -5.0% |
| Accrued charges and deferred income | 492/3 | €550 | €1,703 | +€1,154 | +210% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,282 | €27,822 | -€1,460 | -5.0% |
| Other operating charges | 640/8 | €1,890 | €2,358 | +€469 | +24.8% |
| Gross operating margin | 9900 | €106,452 | €77,802 | -€28,650 | -26.9% |
| Operating profit (loss) | 9901 | €75,281 | €47,622 | -€27,659 | -36.7% |
| Financial income | 75/76B | €42 | €84 | +€42 | +98.3% |
| Recurring financial income | 75 | €42 | €84 | +€42 | +98.3% |
| Financial charges | 65/66B | €2,761 | €1,887 | -€873 | -31.6% |
| Recurring financial charges | 65 | €2,761 | €1,887 | -€873 | -31.6% |
| Profit (loss) for the period before taxes | 9903 | €72,563 | €45,819 | -€26,744 | -36.9% |
| Income taxes | 67/77 | €20,542 | €11,616 | -€8,926 | -43.5% |
| Profit (loss) for the period | 9904 | €52,021 | €34,203 | -€17,818 | -34.3% |
| Profit (loss) for the period to be appropriated | 9905 | €52,021 | €34,203 | -€17,818 | -34.3% |
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.