Vervan DS: 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 DS
Largest movements
- Tangible fixed assets -€18,592
down €18,592 (-29.0%), from €64,020 to €45,428
of which Leasing and similar rights: -€18,715
- Receivables within one year -€8,669
down €8,669 (-66.1%), from €13,114 to €4,446
of which Trade receivables: -€4,885
- Cash -€7,454
down €7,454 (-37.4%), from €19,951 to €12,498
mainly Debts after one year (-€19,201) and Stocks and contracts (-€5,983)
- Stocks and contracts +€5,983
up €5,983 (+66.5%), from €8,996 to €14,979
- Current investments +€3,375
new in 2025: €3,375
- Debts after one year -€19,201
down €19,201 (-57.4%), from €33,446 to €14,245
- Trade debts -€4,705
down €4,705 (-37.3%), from €12,629 to €7,924
- Other debts +€4,671
up €4,671 (+23.5%), from €19,901 to €24,571
- Reserves -€4,473
down €4,473 (-28.1%), from €15,908 to €11,434
- Tax, wage and social debts -€3,222
down €3,222 (-57.9%), from €5,568 to €2,346
- Gross operating margin -€16,421
down €16,421 (-36.5%), from €44,993 to €28,571
- Depreciation +€8,332
up €8,332 (+54.8%), from €15,196 to €23,528
- Taxes -€3,356
down €3,356 (-60.3%), from €5,568 to €2,212
- Financial charges -€788
down €788 (-16.4%), from €4,814 to €4,027
of which Non-recurring financial charges: -€2,103
- Other operating charges -€508
down €508 (-18.3%), from €2,776 to €2,268
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 | €111,001 | €85,643 | -€25,358 | -22.8% |
| Formation expenses | 20 | €23 | - | -€23 | |
| Fixed assets | 21/28 | €64,020 | €45,428 | -€18,592 | -29.0% |
| Tangible fixed assets | 22/27 | €64,020 | €45,428 | -€18,592 | -29.0% |
| Plant, machinery and equipment | 23 | €4,723 | €3,436 | -€1,287 | -27.2% |
| Furniture and vehicles | 24 | €6,459 | €7,868 | +€1,409 | +21.8% |
| Leasing and similar rights | 25 | €52,838 | €34,124 | -€18,715 | -35.4% |
| Current assets | 29/58 | €46,958 | €40,214 | -€6,744 | -14.4% |
| Stocks and contracts in progress | 3 | €8,996 | €14,979 | +€5,983 | +66.5% |
| Stocks | 30/36 | €8,996 | €14,979 | +€5,983 | +66.5% |
| Amounts receivable within one year | 40/41 | €13,114 | €4,446 | -€8,669 | -66.1% |
| Trade receivables | 40 | €6,971 | €2,086 | -€4,885 | -70.1% |
| Other amounts receivable | 41 | €6,144 | €2,360 | -€3,784 | -61.6% |
| Current investments | 50/53 | - | €3,375 | +€3,375 | |
| Cash at bank and in hand | 54/58 | €19,951 | €12,498 | -€7,454 | -37.4% |
| Deferred charges and accrued income | 490/1 | €4,897 | €4,918 | +€21 | +0.4% |
| Total equity and liabilities | 10/49 | €111,001 | €85,643 | -€25,358 | -22.8% |
| Equity | 10/15 | €20,908 | €16,434 | -€4,473 | -21.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €15,908 | €11,434 | -€4,473 | -28.1% |
| Distributable reserves | 133 | €15,908 | €11,434 | -€4,473 | -28.1% |
| Amounts payable | 17/49 | €90,093 | €69,208 | -€20,885 | -23.2% |
| Amounts payable after more than one year | 17 | €33,446 | €14,245 | -€19,201 | -57.4% |
| Financial debts | 170/4 | €33,446 | €14,245 | -€19,201 | -57.4% |
| Amounts payable within one year | 42/48 | €56,647 | €53,329 | -€3,318 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €18,550 | €18,487 | -€62 | -0.3% |
| Trade debts | 44 | €12,629 | €7,924 | -€4,705 | -37.3% |
| Suppliers | 440/4 | €12,629 | €7,924 | -€4,705 | -37.3% |
| Taxes, remuneration and social security | 45 | €5,568 | €2,346 | -€3,222 | -57.9% |
| Taxes | 450/3 | €5,568 | €2,346 | -€3,222 | -57.9% |
| Other amounts payable | 47/48 | €19,901 | €24,571 | +€4,671 | +23.5% |
| Accrued charges and deferred income | 492/3 | - | €1,634 | +€1,634 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,196 | €23,528 | +€8,332 | +54.8% |
| Other operating charges | 640/8 | €2,776 | €2,268 | -€508 | -18.3% |
| Gross operating margin | 9900 | €44,993 | €28,571 | -€16,421 | -36.5% |
| Operating profit (loss) | 9901 | €27,020 | €2,775 | -€24,245 | -89.7% |
| Financial income | 75/76B | €936 | €657 | -€279 | -29.8% |
| Recurring financial income | 75 | €936 | €657 | -€279 | -29.8% |
| Financial charges | 65/66B | €4,814 | €4,027 | -€788 | -16.4% |
| Recurring financial charges | 65 | €2,712 | €4,027 | +€1,315 | +48.5% |
| Non-recurring financial charges | 66B | €2,103 | - | -€2,103 | |
| Profit (loss) for the period before taxes | 9903 | €23,141 | -€595 | -€23,737 | |
| Income taxes | 67/77 | €5,568 | €2,212 | -€3,356 | -60.3% |
| Profit (loss) for the period | 9904 | €17,574 | -€2,807 | -€20,381 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,574 | -€2,807 | -€20,381 |
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 5 October 2026 via checked.be.