VERVAEKE - MATTON: 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
VERVAEKE - MATTON
NACE 43.211, General electrical installation work
financial year 2020 against 2021filed annual accounts (NBB)
Net result for the year
-€218,417
2020 · -€167,712-€50,706
Equity
-€200,028
2020 · €18,389-€218,417
Cash
€89,934
2020 · €62,539+€27,395
Balance sheet total
€567,068
2020 · €702,645-€135,578
Largest movements
Assets
- Current assets -€109,383
down €109,383 (-25.4%), from €430,320 to €320,937
- Tangible fixed assets -€26,195
down €26,195 (-9.6%), from €272,115 to €245,920
Equity and liabilities
- Equity -€218,417
down €218,417, from €18,389 to -€200,028
of which Profit (loss) carried forward: -€218,417
- Debts within one year +€138,832
up €138,832 (+23.9%), from €580,388 to €719,220
of which Tax, wage and social debts: +€224,717
- Debts after one year -€87,202
down €87,202 (-84.0%), from €103,868 to €16,666
- Accrued charges and deferred income +€27,140
new in 2021: €27,140
Income statement
- Staff costs +€568,949
new in 2021: €568,949
- Gross operating margin -€167,253
down €167,253 (-27.0%), from €619,666 to €452,413
- Financial charges +€45,012
new in 2021: €45,012
- Other operating charges +€7,326
new in 2021: €7,326
From the 2020 result to the 2021 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 2020
-€167,712
Gross operating margin
-€167,253
Staff costs
-€568,949
Depreciation
+€2,967
Write-downs
-€80
Provisions
-€4,070
Other operating charges
-€7,326
Other operating items
+€696,131
Financial income
+€627
Financial charges
-€45,012
Other financial items
+€42,260
Result 2021
-€218,417
Cash bridge derived
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2020 | 2021 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €702,645 | €567,068 | -€135,578 | -19.3% |
| Fixed assets | 21/28 | €272,326 | €246,131 | -€26,195 | -9.6% |
| Tangible fixed assets | 22/27 | €272,115 | €245,920 | -€26,195 | -9.6% |
| Land and buildings | 22 | - | €153,000 | +€153,000 | |
| Plant, machinery and equipment | 23 | - | €59,750 | +€59,750 | |
| Furniture and vehicles | 24 | - | €9,619 | +€9,619 | |
| Leasing and similar rights | 25 | - | €23,552 | +€23,552 | |
| Financial fixed assets | 28 | €211 | €211 | = | 0.0% |
| Current assets | 29/58 | €430,320 | €320,937 | -€109,383 | -25.4% |
| Stocks and contracts in progress | 3 | €68,311 | €94,235 | +€25,924 | +38.0% |
| Stocks | 30/36 | - | €63,235 | +€63,235 | |
| Contracts in progress | 37 | - | €31,000 | +€31,000 | |
| Amounts receivable within one year | 40/41 | €172,440 | €125,668 | -€46,773 | -27.1% |
| Trade receivables | 40 | - | €99,975 | +€99,975 | |
| Other amounts receivable | 41 | - | €25,692 | +€25,692 | |
| Cash at bank and in hand | 54/58 | €62,539 | €89,934 | +€27,395 | +43.8% |
| Deferred charges and accrued income | 490/1 | - | €11,100 | +€11,100 | |
| Total equity and liabilities | 10/49 | €702,645 | €567,068 | -€135,578 | -19.3% |
| Equity | 10/15 | €18,389 | -€200,028 | -€218,417 | |
| Contributions | 10/11 | - | €18,600 | +€18,600 | |
| Reserves | 13 | €108,056 | €108,056 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €1,860 | +€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Tax-exempt reserves | 132 | - | €84,403 | +€84,403 | |
| Distributable reserves | 133 | - | €21,792 | +€21,792 | |
| Profit (loss) carried forward | 14 | -€108,267 | -€326,684 | -€218,417 | -201.7% |
| Provisions and deferred taxes | 16 | - | €4,070 | +€4,070 | |
| Provisions for liabilities and charges | 160/5 | - | €4,070 | +€4,070 | |
| Other liabilities and charges | 164/5 | - | €4,070 | +€4,070 | |
| Amounts payable | 17/49 | €684,256 | €763,026 | +€78,770 | +11.5% |
| Amounts payable after more than one year | 17 | €103,868 | €16,666 | -€87,202 | -84.0% |
| Financial debts | 170/4 | - | €16,666 | +€16,666 | |
| Amounts payable within one year | 42/48 | €580,388 | €719,220 | +€138,832 | +23.9% |
| Current portion of amounts payable after more than one year | 42 | - | €87,102 | +€87,102 | |
| Financial debts | 43 | - | €15,770 | +€15,770 | |
| Credit institutions | 430/8 | - | €15,770 | +€15,770 | |
| Trade debts | 44 | €487,944 | €377,002 | -€110,942 | -22.7% |
| Suppliers | 440/4 | - | €377,002 | +€377,002 | |
| Taxes, remuneration and social security | 45 | - | €224,717 | +€224,717 | |
| Taxes | 450/3 | - | €7,417 | +€7,417 | |
| Remuneration and social security | 454/9 | - | €217,300 | +€217,300 | |
| Other amounts payable | 47/48 | - | €14,628 | +€14,628 | |
| Accrued charges and deferred income | 492/3 | - | €27,140 | +€27,140 | |
| Non-recurring operating income | 76A | - | €4,747 | +€4,747 | |
| Remuneration, social security and pensions | 62 | - | €568,949 | +€568,949 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,680 | €29,713 | -€2,967 | -9.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €80 | +€80 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €4,070 | +€4,070 | |
| Other operating charges | 640/8 | - | €7,326 | +€7,326 | |
| Non-recurring operating charges | 66A | - | €16,307 | +€16,307 | |
| Gross operating margin | 9900 | €619,666 | €452,413 | -€167,253 | -27.0% |
| Operating profit (loss) | 9901 | -€125,452 | -€174,032 | -€48,580 | -38.7% |
| Financial income | 75/76B | - | €627 | +€627 | |
| Recurring financial income | 75 | €909 | €627 | -€282 | -31.0% |
| Financial charges | 65/66B | - | €45,012 | +€45,012 | |
| Recurring financial charges | 65 | €43,025 | €45,012 | +€1,987 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | -€167,712 | -€218,417 | -€50,706 | -30.2% |
| Profit (loss) for the period | 9904 | -€167,712 | -€218,417 | -€50,706 | -30.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€167,712 | -€218,417 | -€50,706 | -30.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2020 and 31 December 2021. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.