VERVANDER: 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.
VERVANDER
Largest movements
- Current investments +€653,751
new in 2025: €653,751
- Cash -€651,870
down €651,870 (-83.9%), from €777,076 to €125,206
mainly Current investments (-€653,751) and Investment in fixed assets (net) (-€192,197)
- Financial fixed assets +€192,197
up €192,197 (+1.5%), from €12.9m to €13.1m
- Revaluation surpluses +€192,197
up €192,197 (+2.6%), from €7.3m to €7.5m
- Financial income -€6,950
down €6,950 (-45.1%), from €15,395 to €8,445
- Gross operating margin +€1,692
up €1,692 (+36.1%), from -€4,682 to -€2,990
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 | €13,683,822 | €13,880,405 | +€196,583 | +1.4% |
| Fixed assets | 21/28 | €12,902,127 | €13,094,325 | +€192,197 | +1.5% |
| Financial fixed assets | 28 | €12,902,127 | €13,094,325 | +€192,197 | +1.5% |
| Current assets | 29/58 | €781,695 | €786,081 | +€4,386 | +0.6% |
| Amounts receivable within one year | 40/41 | €4,619 | €7,123 | +€2,505 | +54.2% |
| Trade receivables | 40 | - | €4,619 | +€4,619 | |
| Other amounts receivable | 41 | €4,619 | €2,505 | -€2,114 | -45.8% |
| Current investments | 50/53 | - | €653,751 | +€653,751 | |
| Cash at bank and in hand | 54/58 | €777,076 | €125,206 | -€651,870 | -83.9% |
| Total equity and liabilities | 10/49 | €13,683,822 | €13,880,405 | +€196,583 | +1.4% |
| Equity | 10/15 | €13,682,417 | €13,879,000 | +€196,583 | +1.4% |
| Contributions | 10/11 | €1,604,700 | €1,604,700 | = | 0.0% |
| Capital | 10 | €1,604,700 | €1,604,700 | = | 0.0% |
| Issued capital | 100 | €1,604,700 | €1,604,700 | = | 0.0% |
| Revaluation surpluses | 12 | €7,328,762 | €7,520,959 | +€192,197 | +2.6% |
| Reserves | 13 | €3,742,091 | €3,742,091 | = | 0.0% |
| Non-distributable reserves | 130/1 | €112,085 | €112,085 | = | 0.0% |
| Legal reserve | 130 | €112,085 | €112,085 | = | 0.0% |
| Distributable reserves | 133 | €3,630,006 | €3,630,006 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,006,864 | €1,011,250 | +€4,386 | +0.4% |
| Amounts payable | 17/49 | €1,405 | €1,405 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,405 | €1,405 | = | 0.0% |
| Trade debts | 44 | €1,405 | €1,405 | = | 0.0% |
| Suppliers | 440/4 | €1,405 | €1,405 | = | 0.0% |
| Other amounts payable | 47/48 | €0 | €0 | = | 0.0% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | -€4,682 | -€2,990 | +€1,692 | +36.1% |
| Operating profit (loss) | 9901 | -€5,650 | -€3,989 | +€1,661 | +29.4% |
| Financial income | 75/76B | €15,395 | €8,445 | -€6,950 | -45.1% |
| Recurring financial income | 75 | €15,395 | €8,445 | -€6,950 | -45.1% |
| Financial charges | 65/66B | €46 | €71 | +€24 | +52.2% |
| Recurring financial charges | 65 | €46 | €71 | +€24 | +52.2% |
| Profit (loss) for the period before taxes | 9903 | €9,699 | €4,386 | -€5,313 | -54.8% |
| Profit (loss) for the period | 9904 | €9,699 | €4,386 | -€5,313 | -54.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,699 | €4,386 | -€5,313 | -54.8% |
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.