Vervan: 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.
What changed
Vervan
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€716
2024 · -€32,034+€32,750
Equity
€10.7m
2024 · €10.7m-€16,465
Cash
€48,765
2024 · €198,227-€149,462
Balance sheet total
€10.8m
2024 · €10.9m-€27,428
Largest movements
Assets
- Current investments +€212,000
new in 2025: €212,000
- Cash -€149,462
down €149,462 (-75.4%), from €198,227 to €48,765
mainly Current investments (-€212,000) and Contributions, distributions and other (-€17,182)
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Gross operating margin +€15,634
up €15,634 (+19.1%), from €81,866 to €97,500
- Financial income +€1,772
up €1,772 (+314.9%), from €563 to €2,335
- Other operating charges +€1,250
up €1,250 (+3.1%), from €39,798 to €41,048
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
-€32,034
Gross operating margin
+€15,634
Depreciation
-€912
Other operating charges
-€1,250
Financial income
+€1,772
Financial charges
-€14
Taxes
+€338
Deferred taxes and other
+€17,182
Result 2025
€716
Cash bridge derived
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
+€76,769
Investment
-€212,000
Financing
-€14,232
Cash 2024
€198,227
From operations (derived)
+€76,769
Net result for the year
+€716
Depreciation
+€84,180
Receivables within one year
+€2,189
Deferred charges and accrued income
+€3,597
Provisions
-€8,847
Trade debts
-€4,104
Advances received
-€2,950
Accrued charges and deferred income
+€1,989
Investment (derived)
-€212,000
Current investments
-€212,000
Financing
-€14,232
Debts after one year
+€2,950
Contributions, distributions and other
-€17,182
Cash 2025
€48,765
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,852,724 | €10,825,296 | -€27,428 | -0.3% |
| Fixed assets | 21/28 | €10,646,482 | €10,562,302 | -€84,180 | -0.8% |
| Tangible fixed assets | 22/27 | €10,646,370 | €10,562,191 | -€84,180 | -0.8% |
| Land and buildings | 22 | €10,646,370 | €10,562,191 | -€84,180 | -0.8% |
| Financial fixed assets | 28 | €112 | €112 | = | 0.0% |
| Current assets | 29/58 | €206,242 | €262,994 | +€56,752 | +27.5% |
| Amounts receivable within one year | 40/41 | €2,910 | €721 | -€2,189 | -75.2% |
| Trade receivables | 40 | €2,889 | - | -€2,889 | |
| Other amounts receivable | 41 | €21 | €721 | +€700 | +3408.5% |
| Current investments | 50/53 | - | €212,000 | +€212,000 | |
| Cash at bank and in hand | 54/58 | €198,227 | €48,765 | -€149,462 | -75.4% |
| Deferred charges and accrued income | 490/1 | €5,105 | €1,508 | -€3,597 | -70.5% |
| Total equity and liabilities | 10/49 | €10,852,724 | €10,825,296 | -€27,428 | -0.3% |
| Equity | 10/15 | €10,709,051 | €10,692,586 | -€16,465 | -0.2% |
| Contributions | 10/11 | €4,190,000 | €4,190,000 | = | 0.0% |
| Capital | 10 | €4,190,000 | €4,190,000 | = | 0.0% |
| Issued capital | 100 | €4,190,000 | €4,190,000 | = | 0.0% |
| Revaluation surpluses | 12 | €7,354,938 | €7,354,938 | = | 0.0% |
| Reserves | 13 | €303,713 | €286,532 | -€17,182 | -5.7% |
| Tax-exempt reserves | 132 | €245,299 | €228,118 | -€17,182 | -7.0% |
| Distributable reserves | 133 | €58,414 | €58,414 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,139,600 | -€1,138,884 | +€716 | +0.1% |
| Provisions and deferred taxes | 16 | €126,310 | €117,463 | -€8,847 | -7.0% |
| Provisions for liabilities and charges | 160/5 | €126,310 | €117,463 | -€8,847 | -7.0% |
| Taxes | 161 | €126,310 | €117,463 | -€8,847 | -7.0% |
| Amounts payable | 17/49 | €17,363 | €15,248 | -€2,115 | -12.2% |
| Amounts payable after more than one year | 17 | - | €2,950 | +€2,950 | |
| Other amounts payable | 178/9 | - | €2,950 | +€2,950 | |
| Amounts payable within one year | 42/48 | €13,237 | €6,183 | -€7,054 | -53.3% |
| Trade debts | 44 | €6,388 | €2,284 | -€4,104 | -64.2% |
| Suppliers | 440/4 | €6,388 | €2,284 | -€4,104 | -64.2% |
| Advances received on contracts in progress | 46 | €2,950 | - | -€2,950 | |
| Other amounts payable | 47/48 | €3,899 | €3,899 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €4,126 | €6,115 | +€1,989 | +48.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,268 | €84,180 | +€912 | +1.1% |
| Other operating charges | 640/8 | €39,798 | €41,048 | +€1,250 | +3.1% |
| Gross operating margin | 9900 | €81,866 | €97,500 | +€15,634 | +19.1% |
| Operating profit (loss) | 9901 | -€41,200 | -€27,728 | +€13,473 | +32.7% |
| Financial income | 75/76B | €563 | €2,335 | +€1,772 | +314.9% |
| Recurring financial income | 75 | €563 | €2,335 | +€1,772 | +314.9% |
| Financial charges | 65/66B | €74 | €88 | +€14 | +18.2% |
| Recurring financial charges | 65 | €74 | €88 | +€14 | +18.2% |
| Profit (loss) for the period before taxes | 9903 | -€40,712 | -€25,481 | +€15,231 | +37.4% |
| Transfer from deferred taxes | 780 | €8,847 | €26,029 | +€17,182 | +194.2% |
| Income taxes | 67/77 | €169 | -€169 | -€338 | |
| Profit (loss) for the period | 9904 | -€32,034 | €716 | +€32,750 | |
| Transfer from tax-exempt reserves | 789 | €17,182 | - | -€17,182 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,852 | €716 | +€15,569 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.