VERGEYLEN PETER: 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.
VERGEYLEN PETER
Largest movements
- Stocks and contracts -€497,871
down €497,871 (-81.4%), from €611,875 to €114,004
of which Contracts in progress: -€488,620
- Receivables within one year +€64,707
up €64,707 (+21.3%), from €303,478 to €368,185
of which Other amounts receivable: +€105,505
- Advances received -€441,665
down €441,665 (-100.0%), from €441,751 to €86
- Provisions +€145,544
up €145,544 (+207%), from €70,170 to €215,714
- Profit (loss) carried forward -€63,882
new in 2025: -€63,882
- Trade debts -€45,311
down €45,311 (-45.6%), from €99,470 to €54,159
- Tax, wage and social debts -€33,151
down €33,151 (-95.7%), from €34,649 to €1,498
of which Taxes: -€33,381
- Gross operating margin +€115,090
up €115,090 (+516%), from €22,320 to €137,410
- Other operating charges +€65,335
up €65,335 (+80.2%), from €81,509 to €146,844
- Financial charges -€20,264
down €20,264 (-70.7%), from €28,651 to €8,387
- Staff costs -€14,077
down €14,077 (-48.4%), from €29,080 to €15,003
- Financial income +€2,775
up €2,775 (+47.7%), from €5,818 to €8,592
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 | €1,141,587 | €712,717 | -€428,870 | -37.6% |
| Fixed assets | 21/28 | €205,634 | €215,042 | +€9,408 | +4.6% |
| Tangible fixed assets | 22/27 | €205,634 | €215,042 | +€9,408 | +4.6% |
| Plant, machinery and equipment | 23 | €44,632 | €44,969 | +€337 | +0.8% |
| Furniture and vehicles | 24 | €161,002 | €170,073 | +€9,071 | +5.6% |
| Current assets | 29/58 | €935,953 | €497,675 | -€438,278 | -46.8% |
| Stocks and contracts in progress | 3 | €611,875 | €114,004 | -€497,871 | -81.4% |
| Stocks | 30/36 | €9,858 | €607 | -€9,250 | -93.8% |
| Contracts in progress | 37 | €602,018 | €113,397 | -€488,620 | -81.2% |
| Amounts receivable within one year | 40/41 | €303,478 | €368,185 | +€64,707 | +21.3% |
| Trade receivables | 40 | €89,002 | €48,204 | -€40,798 | -45.8% |
| Other amounts receivable | 41 | €214,476 | €319,980 | +€105,505 | +49.2% |
| Cash at bank and in hand | 54/58 | €7,743 | €3,196 | -€4,548 | -58.7% |
| Deferred charges and accrued income | 490/1 | €12,857 | €12,290 | -€566 | -4.4% |
| Total equity and liabilities | 10/49 | €1,141,587 | €712,717 | -€428,870 | -37.6% |
| Equity | 10/15 | €318,763 | €254,881 | -€63,882 | -20.0% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €312,557 | €312,557 | = | 0.0% |
| Distributable reserves | 133 | €312,557 | €312,557 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€63,882 | -€63,882 | |
| Provisions and deferred taxes | 16 | €70,170 | €215,714 | +€145,544 | +207% |
| Provisions for liabilities and charges | 160/5 | €70,170 | €215,714 | +€145,544 | +207% |
| Other liabilities and charges | 164/5 | €70,170 | €215,714 | +€145,544 | +207% |
| Amounts payable | 17/49 | €752,654 | €242,122 | -€510,532 | -67.8% |
| Amounts payable after more than one year | 17 | €30,046 | €18,857 | -€11,189 | -37.2% |
| Financial debts | 170/4 | €30,046 | €18,857 | -€11,189 | -37.2% |
| Amounts payable within one year | 42/48 | €717,708 | €221,861 | -€495,847 | -69.1% |
| Current portion of amounts payable after more than one year | 42 | €10,661 | €11,189 | +€527 | +4.9% |
| Financial debts | 43 | €120,000 | €150,000 | +€30,000 | +25.0% |
| Credit institutions | 430/8 | €120,000 | €150,000 | +€30,000 | +25.0% |
| Trade debts | 44 | €99,470 | €54,159 | -€45,311 | -45.6% |
| Suppliers | 440/4 | €99,470 | €54,159 | -€45,311 | -45.6% |
| Advances received on contracts in progress | 46 | €441,751 | €86 | -€441,665 | -100.0% |
| Taxes, remuneration and social security | 45 | €34,649 | €1,498 | -€33,151 | -95.7% |
| Taxes | 450/3 | €33,381 | €0 | -€33,381 | -100% |
| Remuneration and social security | 454/9 | €1,268 | €1,498 | +€230 | +18.2% |
| Other amounts payable | 47/48 | €11,177 | €4,929 | -€6,248 | -55.9% |
| Accrued charges and deferred income | 492/3 | €4,900 | €1,403 | -€3,497 | -71.4% |
| Remuneration, social security and pensions | 62 | €29,080 | €15,003 | -€14,077 | -48.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,612 | €39,433 | +€821 | +2.1% |
| Other operating charges | 640/8 | €81,509 | €146,844 | +€65,335 | +80.2% |
| Gross operating margin | 9900 | €22,320 | €137,410 | +€115,090 | +516% |
| Operating profit (loss) | 9901 | -€126,880 | -€63,869 | +€63,010 | +49.7% |
| Financial income | 75/76B | €5,818 | €8,592 | +€2,775 | +47.7% |
| Recurring financial income | 75 | €5,818 | €8,592 | +€2,775 | +47.7% |
| Financial charges | 65/66B | €28,651 | €8,387 | -€20,264 | -70.7% |
| Recurring financial charges | 65 | €28,651 | €8,387 | -€20,264 | -70.7% |
| Profit (loss) for the period before taxes | 9903 | -€149,713 | -€63,664 | +€86,049 | +57.5% |
| Income taxes | 67/77 | €634 | €217 | -€417 | -65.7% |
| Profit (loss) for the period | 9904 | -€150,348 | -€63,882 | +€86,466 | +57.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€150,348 | -€63,882 | +€86,466 | +57.5% |
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 29 October 2026 via checked.be.