VERVAEKE WALLONIE: 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.
VERVAEKE WALLONIE
Largest movements
- Tangible fixed assets +€315,919
up €315,919 (+16.2%), from €2.0m to €2.3m
of which Furniture and vehicles: +€270,967
- Cash -€103,187
down €103,187 (-54.2%), from €190,509 to €87,322
mainly Investment in fixed assets (net) (-€1.1m) and Short-term financial debts (-€3,449)
- Tax, wage and social debts +€124,785
up €124,785 (+21.5%), from €579,584 to €704,369
of which Taxes: +€65,558
- Reserves +€72,000
up €72,000 (+1.7%), from €4.2m to €4.2m
of which Tax-exempt reserves: +€132,000
- Staff costs +€868,483
up €868,483 (+24.4%), from €3.6m to €4.4m
- Gross operating margin +€707,732
up €707,732 (+15.3%), from €4.6m to €5.3m
- Depreciation +€70,380
up €70,380 (+9.4%), from €748,137 to €818,517
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 | €5,219,184 | €5,414,932 | +€195,748 | +3.8% |
| Fixed assets | 21/28 | €1,950,335 | €2,266,254 | +€315,919 | +16.2% |
| Tangible fixed assets | 22/27 | €1,950,335 | €2,266,254 | +€315,919 | +16.2% |
| Land and buildings | 22 | €79,876 | €124,828 | +€44,952 | +56.3% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €1,870,458 | €2,141,425 | +€270,967 | +14.5% |
| Current assets | 29/58 | €3,268,849 | €3,148,679 | -€120,171 | -3.7% |
| Amounts receivable within one year | 40/41 | €3,078,341 | €3,061,357 | -€16,984 | -0.6% |
| Trade receivables | 40 | €88,247 | €51,010 | -€37,238 | -42.2% |
| Other amounts receivable | 41 | €2,990,093 | €3,010,347 | +€20,254 | +0.7% |
| Cash at bank and in hand | 54/58 | €190,509 | €87,322 | -€103,187 | -54.2% |
| Total equity and liabilities | 10/49 | €5,219,184 | €5,414,932 | +€195,748 | +3.8% |
| Equity | 10/15 | €4,323,560 | €4,394,605 | +€71,045 | +1.6% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €4,175,393 | €4,247,393 | +€72,000 | +1.7% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,835,893 | €2,967,893 | +€132,000 | +4.7% |
| Distributable reserves | 133 | €1,327,000 | €1,267,000 | -€60,000 | -4.5% |
| Profit (loss) carried forward | 14 | €5,195 | €4,240 | -€955 | -18.4% |
| Investment grants | 15 | €17,972 | €17,972 | = | 0.0% |
| Provisions and deferred taxes | 16 | €5,991 | €5,991 | = | 0.0% |
| Deferred taxes | 168 | €5,991 | €5,991 | = | 0.0% |
| Amounts payable | 17/49 | €889,633 | €1,014,337 | +€124,703 | +14.0% |
| Amounts payable within one year | 42/48 | €877,989 | €996,408 | +€118,419 | +13.5% |
| Financial debts | 43 | €20,247 | €16,799 | -€3,449 | -17.0% |
| Credit institutions | 430/8 | €20,247 | €16,799 | -€3,449 | -17.0% |
| Trade debts | 44 | €278,157 | €275,240 | -€2,917 | -1.0% |
| Suppliers | 440/4 | €278,157 | €275,240 | -€2,917 | -1.0% |
| Taxes, remuneration and social security | 45 | €579,584 | €704,369 | +€124,785 | +21.5% |
| Taxes | 450/3 | €91,951 | €157,509 | +€65,558 | +71.3% |
| Remuneration and social security | 454/9 | €487,633 | €546,859 | +€59,227 | +12.1% |
| Other amounts payable | 47/48 | €0 | €0 | = | |
| Accrued charges and deferred income | 492/3 | €11,645 | €17,929 | +€6,285 | +54.0% |
| Non-recurring operating income | 76A | €166,000 | €336,730 | +€170,730 | +103% |
| Remuneration, social security and pensions | 62 | €3,562,631 | €4,431,114 | +€868,483 | +24.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €748,137 | €818,517 | +€70,380 | +9.4% |
| Other operating charges | 640/8 | €76,662 | €57,025 | -€19,637 | -25.6% |
| Non-recurring operating charges | 66A | €5,177 | - | -€5,177 | |
| Gross operating margin | 9900 | €4,616,032 | €5,323,764 | +€707,732 | +15.3% |
| Operating profit (loss) | 9901 | €223,425 | €17,109 | -€206,316 | -92.3% |
| Financial income | 75/76B | €85,572 | €58,818 | -€26,754 | -31.3% |
| Recurring financial income | 75 | €85,572 | €58,818 | -€26,754 | -31.3% |
| Financial charges | 65/66B | €5,681 | €4,707 | -€975 | -17.2% |
| Recurring financial charges | 65 | €5,681 | €4,707 | -€975 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €303,315 | €71,220 | -€232,095 | -76.5% |
| Income taxes | 67/77 | €165 | €175 | +€10 | +6.3% |
| Profit (loss) for the period | 9904 | €303,151 | €71,045 | -€232,106 | -76.6% |
| Transfer to tax-exempt reserves | 689 | €166,000 | €132,000 | -€34,000 | -20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €137,151 | -€60,955 | -€198,106 |
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 16 October 2026 via checked.be.