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.
VERVAN
Largest movements
- Receivables within one year +€214,361
up €214,361 (+164.8%), from €130,094 to €344,455
of which Other amounts receivable: +€196,369
- Tangible fixed assets -€195,876
down €195,876 (-23.1%), from €846,793 to €650,917
of which Other tangible fixed assets: -€97,941
- Cash -€48,035
down €48,035 (-33.5%), from €143,255 to €95,220
mainly Receivables within one year (-€214,361) and Debts after one year (-€124,084)
- Debts after one year -€124,084
down €124,084 (-37.7%), from €328,943 to €204,859
- Profit (loss) carried forward +€118,345
up €118,345 (+431.8%), from €27,411 to €145,756
- Trade debts -€73,801
down €73,801 (-17.1%), from €431,023 to €357,222
- Other debts +€35,005
up €35,005 (+45.6%), from €76,799 to €111,804
- Tax, wage and social debts +€32,761
up €32,761 (+40.4%), from €81,116 to €113,877
of which Remuneration and social security: +€29,030
- Gross operating margin +€260,011
up €260,011 (+23.8%), from €1.1m to €1.4m
- Staff costs +€170,402
up €170,402 (+21.1%), from €807,371 to €977,773
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,163,000 | €1,127,229 | -€35,770 | -3.1% |
| Fixed assets | 21/28 | €872,068 | €676,192 | -€195,876 | -22.5% |
| Tangible fixed assets | 22/27 | €846,793 | €650,917 | -€195,876 | -23.1% |
| Land and buildings | 22 | €62,469 | €55,716 | -€6,753 | -10.8% |
| Plant, machinery and equipment | 23 | €202,235 | €153,440 | -€48,795 | -24.1% |
| Furniture and vehicles | 24 | €123,398 | €82,251 | -€41,147 | -33.3% |
| Leasing and similar rights | 25 | €4,734 | €3,494 | -€1,240 | -26.2% |
| Other tangible fixed assets | 26 | €453,956 | €356,016 | -€97,941 | -21.6% |
| Financial fixed assets | 28 | €25,275 | €25,275 | = | 0.0% |
| Current assets | 29/58 | €290,932 | €451,038 | +€160,106 | +55.0% |
| Stocks and contracts in progress | 3 | €15,142 | €10,280 | -€4,862 | -32.1% |
| Stocks | 30/36 | €15,142 | €10,280 | -€4,862 | -32.1% |
| Amounts receivable within one year | 40/41 | €130,094 | €344,455 | +€214,361 | +164.8% |
| Trade receivables | 40 | €47,538 | €65,530 | +€17,992 | +37.8% |
| Other amounts receivable | 41 | €82,556 | €278,925 | +€196,369 | +237.9% |
| Cash at bank and in hand | 54/58 | €143,255 | €95,220 | -€48,035 | -33.5% |
| Deferred charges and accrued income | 490/1 | €2,441 | €1,083 | -€1,358 | -55.6% |
| Total equity and liabilities | 10/49 | €1,163,000 | €1,127,229 | -€35,770 | -3.1% |
| Equity | 10/15 | €115,416 | €203,772 | +€88,356 | +76.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €69,406 | €39,416 | -€29,989 | -43.2% |
| Tax-exempt reserves | 132 | €37,556 | €37,556 | = | 0.0% |
| Distributable reserves | 133 | €31,849 | €1,860 | -€29,989 | -94.2% |
| Profit (loss) carried forward | 14 | €27,411 | €145,756 | +€118,345 | +431.8% |
| Amounts payable | 17/49 | €1,047,583 | €923,457 | -€124,126 | -11.8% |
| Amounts payable after more than one year | 17 | €328,943 | €204,859 | -€124,084 | -37.7% |
| Financial debts | 170/4 | €328,943 | €204,859 | -€124,084 | -37.7% |
| Amounts payable within one year | 42/48 | €716,140 | €713,437 | -€2,703 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €127,202 | €130,534 | +€3,332 | +2.6% |
| Trade debts | 44 | €431,023 | €357,222 | -€73,801 | -17.1% |
| Suppliers | 440/4 | €431,023 | €357,222 | -€73,801 | -17.1% |
| Taxes, remuneration and social security | 45 | €81,116 | €113,877 | +€32,761 | +40.4% |
| Taxes | 450/3 | €217 | €3,948 | +€3,731 | +1720.6% |
| Remuneration and social security | 454/9 | €80,899 | €109,929 | +€29,030 | +35.9% |
| Other amounts payable | 47/48 | €76,799 | €111,804 | +€35,005 | +45.6% |
| Accrued charges and deferred income | 492/3 | €2,500 | €5,161 | +€2,661 | +106.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €807,371 | €977,773 | +€170,402 | +21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €208,343 | €200,146 | -€8,198 | -3.9% |
| Other operating charges | 640/8 | €34,167 | €33,277 | -€890 | -2.6% |
| Gross operating margin | 9900 | €1,091,840 | €1,351,850 | +€260,011 | +23.8% |
| Operating profit (loss) | 9901 | €41,958 | €140,655 | +€98,696 | +235.2% |
| Financial income | 75/76B | €3,692 | €4,109 | +€417 | +11.3% |
| Recurring financial income | 75 | €3,692 | €4,109 | +€417 | +11.3% |
| Financial charges | 65/66B | €32,369 | €26,392 | -€5,977 | -18.5% |
| Recurring financial charges | 65 | €32,369 | €26,392 | -€5,977 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | €13,281 | €118,372 | +€105,090 | +791.3% |
| Income taxes | 67/77 | €239 | €26 | -€212 | -89.0% |
| Profit (loss) for the period | 9904 | €13,043 | €118,345 | +€105,303 | +807.4% |
| Profit (loss) for the period to be appropriated | 9905 | €13,043 | €118,345 | +€105,303 | +807.4% |
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 4 October 2026 via checked.be.