VERHUIZINGEN VANDYCKE: 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.
VERHUIZINGEN VANDYCKE
Largest movements
- Current investments +€258,611
up €258,611 (+26.6%), from €973,247 to €1.2m
- Receivables within one year +€219,317
up €219,317 (+28.2%), from €776,841 to €996,158
of which Other amounts receivable: +€206,585
- Cash -€133,097
down €133,097 (-27.4%), from €486,146 to €353,049
mainly Current investments (-€258,611) and Investment in fixed assets (net) (-€232,229)
- Tangible fixed assets +€116,559
up €116,559 (+37.6%), from €310,243 to €426,802
of which Furniture and vehicles: +€122,591
- Reserves +€306,592
up €306,592 (+19.2%), from €1.6m to €1.9m
of which Distributable reserves: +€411,842
- Trade debts +€68,577
up €68,577 (+51.5%), from €133,110 to €201,687
- Accrued charges and deferred income +€48,534
up €48,534 (+103%), from €47,216 to €95,750
- Tax, wage and social debts +€35,904
up €35,904 (+47.1%), from €76,250 to €112,154
of which Taxes: +€31,826
- Financial income +€104,823
up €104,823 (+496%), from €21,141 to €125,964
- Gross operating margin -€67,006
down €67,006 (-7.2%), from €935,239 to €868,233
- Depreciation +€15,349
up €15,349 (+15.3%), from €100,321 to €115,670
- Staff costs -€12,223
down €12,223 (-3.1%), from €393,167 to €380,944
- Taxes +€10,857
up €10,857 (+8.9%), from €121,669 to €132,526
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 | €2,574,131 | €3,037,654 | +€463,523 | +18.0% |
| Fixed assets | 21/28 | €310,243 | €426,802 | +€116,559 | +37.6% |
| Tangible fixed assets | 22/27 | €310,243 | €426,802 | +€116,559 | +37.6% |
| Land and buildings | 22 | €26,759 | €22,105 | -€4,654 | -17.4% |
| Plant, machinery and equipment | 23 | €367 | - | -€367 | |
| Furniture and vehicles | 24 | €276,977 | €399,568 | +€122,591 | +44.3% |
| Leasing and similar rights | 25 | €6,140 | €5,129 | -€1,011 | -16.5% |
| Current assets | 29/58 | €2,263,888 | €2,610,852 | +€346,964 | +15.3% |
| Amounts receivable within one year | 40/41 | €776,841 | €996,158 | +€219,317 | +28.2% |
| Trade receivables | 40 | €188,897 | €201,629 | +€12,732 | +6.7% |
| Other amounts receivable | 41 | €587,944 | €794,529 | +€206,585 | +35.1% |
| Current investments | 50/53 | €973,247 | €1,231,858 | +€258,611 | +26.6% |
| Cash at bank and in hand | 54/58 | €486,146 | €353,049 | -€133,097 | -27.4% |
| Deferred charges and accrued income | 490/1 | €27,654 | €29,787 | +€2,133 | +7.7% |
| Total equity and liabilities | 10/49 | €2,574,131 | €3,037,654 | +€463,523 | +18.0% |
| Equity | 10/15 | €1,619,834 | €1,926,426 | +€306,592 | +18.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,600,438 | €1,907,030 | +€306,592 | +19.2% |
| Tax-exempt reserves | 132 | €315,750 | €210,500 | -€105,250 | -33.3% |
| Distributable reserves | 133 | €1,284,688 | €1,696,530 | +€411,842 | +32.1% |
| Profit (loss) carried forward | 14 | €796 | €796 | = | 0.0% |
| Amounts payable | 17/49 | €954,297 | €1,111,228 | +€156,931 | +16.4% |
| Amounts payable within one year | 42/48 | €907,081 | €1,015,478 | +€108,397 | +12.0% |
| Trade debts | 44 | €133,110 | €201,687 | +€68,577 | +51.5% |
| Suppliers | 440/4 | €133,110 | €201,687 | +€68,577 | +51.5% |
| Taxes, remuneration and social security | 45 | €76,250 | €112,154 | +€35,904 | +47.1% |
| Taxes | 450/3 | €61,470 | €93,296 | +€31,826 | +51.8% |
| Remuneration and social security | 454/9 | €14,780 | €18,858 | +€4,078 | +27.6% |
| Other amounts payable | 47/48 | €697,721 | €701,637 | +€3,916 | +0.6% |
| Accrued charges and deferred income | 492/3 | €47,216 | €95,750 | +€48,534 | +103% |
| Non-recurring operating income | 76A | €3,247 | €8,958 | +€5,711 | +176% |
| Remuneration, social security and pensions | 62 | €393,167 | €380,944 | -€12,223 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,321 | €115,670 | +€15,349 | +15.3% |
| Other operating charges | 640/8 | €2,759 | €1,038 | -€1,721 | -62.4% |
| Gross operating margin | 9900 | €935,239 | €868,233 | -€67,006 | -7.2% |
| Operating profit (loss) | 9901 | €438,992 | €370,581 | -€68,411 | -15.6% |
| Financial income | 75/76B | €21,141 | €125,964 | +€104,823 | +496% |
| Recurring financial income | 75 | €21,141 | €125,964 | +€104,823 | +496% |
| Financial charges | 65/66B | €54,943 | €57,427 | +€2,484 | +4.5% |
| Recurring financial charges | 65 | €54,943 | €57,427 | +€2,484 | +4.5% |
| Profit (loss) for the period before taxes | 9903 | €405,190 | €439,118 | +€33,928 | +8.4% |
| Income taxes | 67/77 | €121,669 | €132,526 | +€10,857 | +8.9% |
| Profit (loss) for the period | 9904 | €283,521 | €306,592 | +€23,071 | +8.1% |
| Transfer from tax-exempt reserves | 789 | €63,150 | €189,450 | +€126,300 | +200% |
| Transfer to tax-exempt reserves | 689 | €84,200 | €84,200 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €262,471 | €411,842 | +€149,371 | +56.9% |
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 30 October 2026 via checked.be.