VERVAET: 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.
VERVAET
Largest movements
- Cash +€14,450
up €14,450 (+33.1%), from €43,650 to €58,100
mainly Receivables within one year (+€10,606) and Net result for the year (+€8,402)
- Receivables within one year -€10,606
down €10,606 (-57.6%), from €18,416 to €7,810
of which Trade receivables: -€7,045
- Tangible fixed assets -€2,350
down €2,350 (-66.6%), from €3,527 to €1,177
of which Plant, machinery and equipment: -€1,231
- Other debts +€2,650
new in 2025: €2,650
- Reserves -€1,500
down €1,500 (-2.1%), from €73,121 to €71,621
- Tax, wage and social debts +€1,403
up €1,403 (+42.5%), from €3,297 to €4,700
- Trade debts -€1,002
down €1,002 (-59.0%), from €1,696 to €695
- Gross operating margin -€17,256
down €17,256 (-55.0%), from €31,402 to €14,146
- Taxes -€4,542
down €4,542 (-51.5%), from €8,815 to €4,273
- Financial income +€1,101
up €1,101 (+818%), from €135 to €1,236
- Depreciation -€443
down €443 (-15.9%), from €2,792 to €2,350
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 | €95,683 | €97,136 | +€1,453 | +1.5% |
| Fixed assets | 21/28 | €3,576 | €1,226 | -€2,350 | -65.7% |
| Tangible fixed assets | 22/27 | €3,527 | €1,177 | -€2,350 | -66.6% |
| Plant, machinery and equipment | 23 | €1,942 | €712 | -€1,231 | -63.4% |
| Furniture and vehicles | 24 | €1,585 | €466 | -€1,119 | -70.6% |
| Financial fixed assets | 28 | €49 | €49 | = | 0.0% |
| Current assets | 29/58 | €92,107 | €95,910 | +€3,803 | +4.1% |
| Amounts receivable within one year | 40/41 | €18,416 | €7,810 | -€10,606 | -57.6% |
| Trade receivables | 40 | €12,367 | €5,322 | -€7,045 | -57.0% |
| Other amounts receivable | 41 | €6,049 | €2,488 | -€3,561 | -58.9% |
| Current investments | 50/53 | €30,000 | €30,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €43,650 | €58,100 | +€14,450 | +33.1% |
| Deferred charges and accrued income | 490/1 | €41 | €0 | -€41 | -100% |
| Total equity and liabilities | 10/49 | €95,683 | €97,136 | +€1,453 | +1.5% |
| Equity | 10/15 | €90,690 | €89,092 | -€1,598 | -1.8% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €73,121 | €71,621 | -€1,500 | -2.1% |
| Distributable reserves | 133 | €73,121 | €71,621 | -€1,500 | -2.1% |
| Profit (loss) carried forward | 14 | €11,371 | €11,273 | -€98 | -0.9% |
| Amounts payable | 17/49 | €4,993 | €8,045 | +€3,051 | +61.1% |
| Amounts payable within one year | 42/48 | €4,993 | €8,045 | +€3,051 | +61.1% |
| Trade debts | 44 | €1,696 | €695 | -€1,002 | -59.0% |
| Suppliers | 440/4 | €1,696 | €695 | -€1,002 | -59.0% |
| Taxes, remuneration and social security | 45 | €3,297 | €4,700 | +€1,403 | +42.5% |
| Taxes | 450/3 | €3,297 | €4,700 | +€1,403 | +42.5% |
| Other amounts payable | 47/48 | - | €2,650 | +€2,650 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,792 | €2,350 | -€443 | -15.9% |
| Other operating charges | 640/8 | €64 | €66 | +€2 | +3.0% |
| Gross operating margin | 9900 | €31,402 | €14,146 | -€17,256 | -55.0% |
| Operating profit (loss) | 9901 | €28,546 | €11,731 | -€16,815 | -58.9% |
| Financial income | 75/76B | €135 | €1,236 | +€1,101 | +818% |
| Recurring financial income | 75 | €135 | €1,236 | +€1,101 | +818% |
| Financial charges | 65/66B | €336 | €292 | -€45 | -13.3% |
| Recurring financial charges | 65 | €336 | €292 | -€45 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €28,344 | €12,675 | -€15,669 | -55.3% |
| Income taxes | 67/77 | €8,815 | €4,273 | -€4,542 | -51.5% |
| Profit (loss) for the period | 9904 | €19,529 | €8,402 | -€11,128 | -57.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,529 | €8,402 | -€11,128 | -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 21 October 2026 via checked.be.