VERSCHAEVE - CONSTRUCT: 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.
What changed
VERSCHAEVE - CONSTRUCT
NACE 43.320, Joinery installation
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€189,488
2024 · €441,094-€251,606
Equity
€2.7m
2024 · €2.5m+€189,488
Cash
€367,367
2024 · €235,558+€131,809
Balance sheet total
€4.0m
2024 · €3.9m+€138,785
Largest movements
Assets
- Cash +€131,809
up €131,809 (+56.0%), from €235,558 to €367,367
mainly Depreciation (+€415,218) and Net result for the year (+€189,488)
- Stocks and contracts +€47,690
up €47,690 (+7.9%), from €602,752 to €650,442
Equity and liabilities
- Reserves +€189,488
up €189,488 (+7.7%), from €2.4m to €2.6m
of which Distributable reserves: +€189,488
- Debts after one year -€136,833
down €136,833 (-25.9%), from €529,325 to €392,492
- Other debts +€114,468
up €114,468 (+34.2%), from €335,108 to €449,576
Income statement
- Gross operating margin -€339,305
down €339,305 (-9.7%), from €3.5m to €3.2m
- Taxes -€105,159
down €105,159 (-56.4%), from €186,304 to €81,146
- Write-downs +€91,000
up €91,000 (+97.0%), from -€93,854 to -€2,854
- Other operating charges -€89,756
down €89,756 (-65.4%), from €137,291 to €47,535
- Depreciation +€74,407
up €74,407 (+21.8%), from €340,811 to €415,218
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.
Result 2024
€441,094
Gross operating margin
-€339,305
Staff costs
+€28,615
Depreciation
-€74,407
Write-downs
-€91,000
Other operating charges
+€89,756
Other operating items
+€23,513
Financial income
-€6,990
Financial charges
+€13,054
Taxes
+€105,159
Result 2025
€189,488
Cash bridge derived
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.
From operations
+€621,416
Investment
-€354,849
Financing
-€134,757
Cash 2024
€235,558
From operations (derived)
+€621,416
Net result for the year
+€189,488
Depreciation
+€415,218
Stocks and contracts
-€47,690
Receivables within one year
-€31,139
Deferred charges and accrued income
+€11,484
Trade debts
-€5,110
Tax, wage and social debts
-€26,652
Other debts
+€114,468
Accrued charges and deferred income
+€1,348
Investment (derived)
-€354,849
Investment in fixed assets (net)
-€354,849
Financing
-€134,757
Debts after one year
-€136,833
Current portion of long-term debt
+€2,076
Cash 2025
€367,367
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,869,850 | €4,008,635 | +€138,785 | +3.6% |
| Fixed assets | 21/28 | €2,063,472 | €2,003,104 | -€60,369 | -2.9% |
| Intangible fixed assets | 21 | €44,213 | €13,844 | -€30,368 | -68.7% |
| Tangible fixed assets | 22/27 | €2,019,260 | €1,989,259 | -€30,000 | -1.5% |
| Land and buildings | 22 | €1,056,040 | €1,123,220 | +€67,180 | +6.4% |
| Plant, machinery and equipment | 23 | €676,709 | €631,046 | -€45,663 | -6.7% |
| Furniture and vehicles | 24 | €286,511 | €234,994 | -€51,517 | -18.0% |
| Current assets | 29/58 | €1,806,377 | €2,005,532 | +€199,154 | +11.0% |
| Stocks and contracts in progress | 3 | €602,752 | €650,442 | +€47,690 | +7.9% |
| Stocks | 30/36 | €602,752 | €650,442 | +€47,690 | +7.9% |
| Amounts receivable within one year | 40/41 | €911,889 | €943,028 | +€31,139 | +3.4% |
| Trade receivables | 40 | €588,158 | €559,408 | -€28,750 | -4.9% |
| Other amounts receivable | 41 | €323,730 | €383,620 | +€59,890 | +18.5% |
| Cash at bank and in hand | 54/58 | €235,558 | €367,367 | +€131,809 | +56.0% |
| Deferred charges and accrued income | 490/1 | €56,179 | €44,695 | -€11,484 | -20.4% |
| Total equity and liabilities | 10/49 | €3,869,850 | €4,008,635 | +€138,785 | +3.6% |
| Equity | 10/15 | €2,512,112 | €2,701,600 | +€189,488 | +7.5% |
| Contributions | 10/11 | €62,579 | €62,579 | = | 0.0% |
| Capital | 10 | €62,579 | €62,579 | = | 0.0% |
| Issued capital | 100 | €62,579 | €62,579 | = | 0.0% |
| Reserves | 13 | €2,449,533 | €2,639,021 | +€189,488 | +7.7% |
| Non-distributable reserves | 130/1 | €6,258 | €6,258 | = | 0.0% |
| Legal reserve | 130 | €6,258 | €6,258 | = | 0.0% |
| Distributable reserves | 133 | €2,443,275 | €2,632,763 | +€189,488 | +7.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,357,738 | €1,307,035 | -€50,703 | -3.7% |
| Amounts payable after more than one year | 17 | €529,325 | €392,492 | -€136,833 | -25.9% |
| Financial debts | 170/4 | €529,325 | €392,492 | -€136,833 | -25.9% |
| Amounts payable within one year | 42/48 | €793,704 | €878,487 | +€84,783 | +10.7% |
| Current portion of amounts payable after more than one year | 42 | €134,757 | €136,833 | +€2,076 | +1.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €180,248 | €175,139 | -€5,110 | -2.8% |
| Suppliers | 440/4 | €180,248 | €175,139 | -€5,110 | -2.8% |
| Taxes, remuneration and social security | 45 | €143,591 | €116,939 | -€26,652 | -18.6% |
| Taxes | 450/3 | €30,298 | €1,663 | -€28,635 | -94.5% |
| Remuneration and social security | 454/9 | €113,293 | €115,276 | +€1,983 | +1.7% |
| Other amounts payable | 47/48 | €335,108 | €449,576 | +€114,468 | +34.2% |
| Accrued charges and deferred income | 492/3 | €34,709 | €36,057 | +€1,348 | +3.9% |
| Non-recurring operating income | 76A | €7,200 | €583 | -€6,617 | -91.9% |
| Remuneration, social security and pensions | 62 | €2,395,152 | €2,366,538 | -€28,615 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €340,811 | €415,218 | +€74,407 | +21.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€93,854 | -€2,854 | +€91,000 | +97.0% |
| Other operating charges | 640/8 | €137,291 | €47,535 | -€89,756 | -65.4% |
| Non-recurring operating charges | 66A | €23,513 | €0 | -€23,513 | -100.0% |
| Gross operating margin | 9900 | €3,503,294 | €3,163,989 | -€339,305 | -9.7% |
| Operating profit (loss) | 9901 | €700,381 | €337,552 | -€362,829 | -51.8% |
| Financial income | 75/76B | €37,417 | €30,427 | -€6,990 | -18.7% |
| Recurring financial income | 75 | €37,417 | €30,427 | -€6,990 | -18.7% |
| Financial charges | 65/66B | €110,400 | €97,346 | -€13,054 | -11.8% |
| Recurring financial charges | 65 | €110,400 | €97,346 | -€13,054 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €627,398 | €270,634 | -€356,764 | -56.9% |
| Income taxes | 67/77 | €186,304 | €81,146 | -€105,159 | -56.4% |
| Profit (loss) for the period | 9904 | €441,094 | €189,488 | -€251,606 | -57.0% |
| Profit (loss) for the period to be appropriated | 9905 | €441,094 | €189,488 | -€251,606 | -57.0% |
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 9 October 2026 via checked.be.