VERVAEKE: what changed
Two fiscal 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.
VERVAEKE
Largest movements
- Tangible fixed assets -€244,814
down €244,814 (-24.2%), from €1.0m to €766,083
of which Land and buildings: -€261,338
- Cash +€214,570
up €214,570 (+100.5%), from €213,484 to €428,054
mainly Net result for the year (+€254,239) and Investment in fixed assets (net) (+€187,959)
- Current investments +€206,512
up €206,512 (+34.0%), from €608,261 to €814,774
- Deferred charges and accrued income +€23,418
up €23,418 (+1451.6%), from €1,613 to €25,031
- Reserves +€182,043
up €182,043 (+11.1%), from €1.6m to €1.8m
of which Distributable reserves: +€261,236
- Tax, wage and social debts +€96,410
up €96,410 (+1205.4%), from €7,998 to €104,408
- Current portion of long-term debt -€36,490
down €36,490 (-100.0%), from €36,490 to €0
- Provisions -€26,398
down €26,398 (-23.1%), from €114,491 to €88,093
- Gross operating margin +€164,514
up €164,514 (+65.6%), from €250,899 to €415,414
- Taxes +€89,967
up €89,967 (+141.8%), from €63,466 to €153,433
- Financial income +€30,045
up €30,045 (+76315.6%), from €39 to €30,085
- Depreciation -€25,984
down €25,984 (-31.4%), from €82,839 to €56,855
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,841,632 | €2,037,324 | +€195,692 | +10.6% |
| Fixed assets | 21/28 | €1,010,896 | €766,083 | -€244,814 | -24.2% |
| Tangible fixed assets | 22/27 | €1,010,896 | €766,083 | -€244,814 | -24.2% |
| Land and buildings | 22 | €1,007,318 | €745,980 | -€261,338 | -25.9% |
| Furniture and vehicles | 24 | €1,102 | €15,813 | +€14,711 | +1334.7% |
| Other tangible fixed assets | 26 | €2,476 | €4,290 | +€1,814 | +73.2% |
| Current assets | 29/58 | €830,736 | €1,271,241 | +€440,505 | +53.0% |
| Amounts receivable within one year | 40/41 | €7,377 | €3,382 | -€3,995 | -54.2% |
| Trade receivables | 40 | €4,764 | €175 | -€4,589 | -96.3% |
| Other amounts receivable | 41 | €2,613 | €3,207 | +€594 | +22.7% |
| Current investments | 50/53 | €608,261 | €814,774 | +€206,512 | +34.0% |
| Cash at bank and in hand | 54/58 | €213,484 | €428,054 | +€214,570 | +100.5% |
| Deferred charges and accrued income | 490/1 | €1,613 | €25,031 | +€23,418 | +1451.6% |
| Total equity and liabilities | 10/49 | €1,841,632 | €2,037,324 | +€195,692 | +10.6% |
| Equity | 10/15 | €1,655,751 | €1,837,794 | +€182,043 | +11.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,637,151 | €1,819,194 | +€182,043 | +11.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €395,372 | €316,179 | -€79,193 | -20.0% |
| Distributable reserves | 133 | €1,241,780 | €1,503,015 | +€261,236 | +21.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €114,491 | €88,093 | -€26,398 | -23.1% |
| Deferred taxes | 168 | €114,491 | €88,093 | -€26,398 | -23.1% |
| Amounts payable | 17/49 | €71,390 | €111,436 | +€40,047 | +56.1% |
| Amounts payable after more than one year | 17 | €17,156 | €0 | -€17,156 | -100.0% |
| Financial debts | 170/4 | €17,156 | €0 | -€17,156 | -100.0% |
| Amounts payable within one year | 42/48 | €54,233 | €111,436 | +€57,203 | +105.5% |
| Current portion of amounts payable after more than one year | 42 | €36,490 | €0 | -€36,490 | -100.0% |
| Financial debts | 43 | €3,374 | €3,374 | +€0 | 0.0% |
| Credit institutions | 430/8 | €3,374 | €3,374 | +€0 | 0.0% |
| Trade debts | 44 | €5,741 | €3,023 | -€2,718 | -47.3% |
| Suppliers | 440/4 | €5,741 | €3,023 | -€2,718 | -47.3% |
| Taxes, remuneration and social security | 45 | €7,998 | €104,408 | +€96,410 | +1205.4% |
| Taxes | 450/3 | €7,998 | €104,408 | +€96,410 | +1205.4% |
| Other amounts payable | 47/48 | €631 | €631 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €193,306 | +€193,306 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,839 | €56,855 | -€25,984 | -31.4% |
| Other operating charges | 640/8 | €7,088 | €5,693 | -€1,395 | -19.7% |
| Gross operating margin | 9900 | €250,899 | €415,414 | +€164,514 | +65.6% |
| Operating profit (loss) | 9901 | €160,972 | €352,866 | +€191,893 | +119.2% |
| Financial income | 75/76B | €39 | €30,085 | +€30,045 | +76315.6% |
| Recurring financial income | 75 | €39 | €30,085 | +€30,045 | +76315.6% |
| Financial charges | 65/66B | €2,913 | €1,676 | -€1,237 | -42.5% |
| Recurring financial charges | 65 | €2,913 | €1,676 | -€1,237 | -42.5% |
| Profit (loss) for the period before taxes | 9903 | €158,099 | €381,275 | +€223,176 | +141.2% |
| Transfer from deferred taxes | 780 | €9,618 | €26,398 | +€16,779 | +174.5% |
| Income taxes | 67/77 | €63,466 | €153,433 | +€89,967 | +141.8% |
| Profit (loss) for the period | 9904 | €104,252 | €254,239 | +€149,988 | +143.9% |
| Transfer from tax-exempt reserves | 789 | €28,855 | €79,193 | +€50,338 | +174.5% |
| Profit (loss) for the period to be appropriated | 9905 | €133,106 | €333,432 | +€200,326 | +150.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.