VERVAERT: 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
VERVAERT
NACE 43.221, Plumbing work
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€142,985
2024 · €331,778-€188,793
Equity
€1.5m
2024 · €1.4m+€142,985
Cash
€27,277
2024 · €5,874+€21,404
Balance sheet total
€3.1m
2024 · €2.7m+€332,296
Largest movements
Assets
- Receivables within one year +€315,444
up €315,444 (+25.8%), from €1.2m to €1.5m
of which Trade receivables: +€164,663
Equity and liabilities
- Profit (loss) carried forward +€296,323
up €296,323 (+91.9%), from €322,303 to €618,626
- Trade debts +€235,146
up €235,146 (+59.8%), from €392,908 to €628,055
- Reserves -€153,338
down €153,338 (-42.6%), from €359,905 to €206,567
- Tax, wage and social debts +€51,646
up €51,646 (+24.6%), from €209,860 to €261,506
of which Taxes: +€99,105
- Provisions -€51,113
down €51,113 (-42.6%), from €119,968 to €68,856
Income statement
- Gross operating margin -€276,692
down €276,692 (-34.1%), from €811,348 to €534,656
- Taxes +€58,580
up €58,580 (+130%), from €45,229 to €103,810
- Other operating charges -€30,797
down €30,797 (-85.6%), from €35,995 to €5,199
- Staff costs -€26,388
down €26,388 (-9.7%), from €271,295 to €244,907
- Financial charges +€24,641
up €24,641 (+85.2%), from €28,934 to €53,576
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
€331,778
Gross operating margin
-€276,692
Staff costs
+€26,388
Depreciation
-€6,847
Other operating charges
+€30,797
Other operating items
+€850
Financial income
-€35
Financial charges
-€24,641
Taxes
-€58,580
Deferred taxes and other
+€119,968
Result 2025
€142,985
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€105,090
Investment
-€30,742
Financing
-€52,945
Cash 2024
€5,874
From operations (derived)
+€105,090
Net result for the year
+€142,985
Depreciation
+€35,293
Receivables within one year
-€315,444
Provisions
-€51,113
Trade debts
+€235,146
Tax, wage and social debts
+€51,646
Other debts
+€3,980
Accrued charges and deferred income
+€2,597
Investment (derived)
-€30,742
Investment in fixed assets (net)
-€30,742
Financing
-€52,945
Debts after one year
-€45,796
Current portion of long-term debt
-€19,409
Short-term financial debts
+€12,260
Cash 2025
€27,277
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,743,407 | €3,075,703 | +€332,296 | +12.1% |
| Fixed assets | 21/28 | €1,514,489 | €1,509,938 | -€4,551 | -0.3% |
| Intangible fixed assets | 21 | €775 | - | -€775 | |
| Tangible fixed assets | 22/27 | €1,206,214 | €1,202,438 | -€3,776 | -0.3% |
| Land and buildings | 22 | €1,190,318 | €1,173,207 | -€17,111 | -1.4% |
| Furniture and vehicles | 24 | €15,896 | €29,231 | +€13,335 | +83.9% |
| Financial fixed assets | 28 | €307,500 | €307,500 | = | 0.0% |
| Current assets | 29/58 | €1,228,918 | €1,565,765 | +€336,848 | +27.4% |
| Amounts receivable within one year | 40/41 | €1,223,044 | €1,538,488 | +€315,444 | +25.8% |
| Trade receivables | 40 | €335,602 | €500,265 | +€164,663 | +49.1% |
| Other amounts receivable | 41 | €887,442 | €1,038,223 | +€150,781 | +17.0% |
| Cash at bank and in hand | 54/58 | €5,874 | €27,277 | +€21,404 | +364% |
| Total equity and liabilities | 10/49 | €2,743,407 | €3,075,703 | +€332,296 | +12.1% |
| Equity | 10/15 | €1,356,975 | €1,499,959 | +€142,985 | +10.5% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Revaluation surpluses | 12 | €666,707 | €666,707 | = | 0.0% |
| Reserves | 13 | €359,905 | €206,567 | -€153,338 | -42.6% |
| Tax-exempt reserves | 132 | €359,905 | €206,567 | -€153,338 | -42.6% |
| Profit (loss) carried forward | 14 | €322,303 | €618,626 | +€296,323 | +91.9% |
| Provisions and deferred taxes | 16 | €119,968 | €68,856 | -€51,113 | -42.6% |
| Deferred taxes | 168 | €119,968 | €68,856 | -€51,113 | -42.6% |
| Amounts payable | 17/49 | €1,266,464 | €1,506,888 | +€240,424 | +19.0% |
| Amounts payable after more than one year | 17 | €351,051 | €305,255 | -€45,796 | -13.0% |
| Financial debts | 170/4 | €351,051 | €305,255 | -€45,796 | -13.0% |
| Amounts payable within one year | 42/48 | €762,239 | €1,045,863 | +€283,623 | +37.2% |
| Current portion of amounts payable after more than one year | 42 | €66,473 | €47,064 | -€19,409 | -29.2% |
| Financial debts | 43 | €12,226 | €24,486 | +€12,260 | +100% |
| Credit institutions | 430/8 | €12,226 | €24,486 | +€12,260 | +100% |
| Trade debts | 44 | €392,908 | €628,055 | +€235,146 | +59.8% |
| Suppliers | 440/4 | €392,908 | €628,055 | +€235,146 | +59.8% |
| Taxes, remuneration and social security | 45 | €209,860 | €261,506 | +€51,646 | +24.6% |
| Taxes | 450/3 | €128,534 | €227,639 | +€99,105 | +77.1% |
| Remuneration and social security | 454/9 | €81,326 | €33,867 | -€47,459 | -58.4% |
| Other amounts payable | 47/48 | €80,771 | €84,751 | +€3,980 | +4.9% |
| Accrued charges and deferred income | 492/3 | €153,174 | €155,771 | +€2,597 | +1.7% |
| Non-recurring operating income | 76A | €275,422 | - | -€275,422 | |
| Remuneration, social security and pensions | 62 | €271,295 | €244,907 | -€26,388 | -9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,446 | €35,293 | +€6,847 | +24.1% |
| Other operating charges | 640/8 | €35,995 | €5,199 | -€30,797 | -85.6% |
| Non-recurring operating charges | 66A | €850 | - | -€850 | |
| Gross operating margin | 9900 | €811,348 | €534,656 | -€276,692 | -34.1% |
| Operating profit (loss) | 9901 | €474,761 | €249,257 | -€225,504 | -47.5% |
| Financial income | 75/76B | €36 | €0 | -€35 | -99.3% |
| Recurring financial income | 75 | €36 | €0 | -€35 | -99.3% |
| Financial charges | 65/66B | €28,934 | €53,576 | +€24,641 | +85.2% |
| Recurring financial charges | 65 | €28,934 | €53,576 | +€24,641 | +85.2% |
| Profit (loss) for the period before taxes | 9903 | €445,863 | €195,682 | -€250,181 | -56.1% |
| Transfer from deferred taxes | 780 | - | €51,113 | +€51,113 | |
| Transfer to deferred taxes | 680 | €68,856 | - | -€68,856 | |
| Income taxes | 67/77 | €45,229 | €103,810 | +€58,580 | +130% |
| Profit (loss) for the period | 9904 | €331,778 | €142,985 | -€188,793 | -56.9% |
| Transfer from tax-exempt reserves | 789 | - | €153,338 | +€153,338 | |
| Transfer to tax-exempt reserves | 689 | €206,567 | - | -€206,567 | |
| Profit (loss) for the period to be appropriated | 9905 | €125,211 | €296,323 | +€171,112 | +137% |
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 24 October 2026 via checked.be.