VERVISCH: 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.
VERVISCH
Largest movements
- Receivables within one year -€4,519
down €4,519 (-76.1%), from €5,939 to €1,420
of which Trade receivables: -€4,168
- Cash -€3,412
down €3,412 (-24.6%), from €13,895 to €10,483
mainly Trade debts (-€5,328) and Investment in fixed assets (net) (-€4,259)
- Tangible fixed assets -€2,579
down €2,579 (-16.7%), from €15,456 to €12,877
- Deferred charges and accrued income +€2,066
new in 2025: €2,066
- Other debts +€5,789
up €5,789 (+10.3%), from €56,187 to €61,976
- Trade debts -€5,328
down €5,328 (-57.7%), from €9,228 to €3,900
- Debts after one year -€4,200
down €4,200 (-17.4%), from €24,100 to €19,900
- Profit (loss) carried forward -€3,842
down €3,842 (-5.0%), from -€76,914 to -€80,756
- Tax, wage and social debts -€604
down €604 (-39.1%), from €1,546 to €942
- Gross operating margin -€15,202
down €15,202 (-78.9%), from €19,279 to €4,077
- Depreciation -€12,799
down €12,799 (-66.1%), from €19,378 to €6,579
- Financial income -€4,103
down €4,103 (-99.0%), from €4,145 to €42
of which Non-recurring financial income: -€4,116
- Other operating charges -€209
down €209 (-14.2%), from €1,471 to €1,262
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 | €35,435 | €27,250 | -€8,185 | -23.1% |
| Fixed assets | 21/28 | €15,601 | €13,281 | -€2,320 | -14.9% |
| Tangible fixed assets | 22/27 | €15,456 | €12,877 | -€2,579 | -16.7% |
| Plant, machinery and equipment | 23 | €15,456 | €12,877 | -€2,579 | -16.7% |
| Financial fixed assets | 28 | €145 | €404 | +€259 | +179% |
| Current assets | 29/58 | €19,834 | €13,969 | -€5,865 | -29.6% |
| Amounts receivable within one year | 40/41 | €5,939 | €1,420 | -€4,519 | -76.1% |
| Trade receivables | 40 | €5,588 | €1,420 | -€4,168 | -74.6% |
| Other amounts receivable | 41 | €351 | - | -€351 | |
| Cash at bank and in hand | 54/58 | €13,895 | €10,483 | -€3,412 | -24.6% |
| Deferred charges and accrued income | 490/1 | - | €2,066 | +€2,066 | |
| Total equity and liabilities | 10/49 | €35,435 | €27,250 | -€8,185 | -23.1% |
| Equity | 10/15 | -€59,826 | -€63,668 | -€3,842 | -6.4% |
| Contributions | 10/11 | €12,395 | €12,395 | -€0 | 0.0% |
| Capital | 10 | €12,395 | €12,395 | -€0 | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | +€0 | 0.0% |
| Uncalled capital | 101 | €6,197 | €6,197 | +€0 | 0.0% |
| Reserves | 13 | €4,693 | €4,693 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | +€0 | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | +€0 | 0.0% |
| Distributable reserves | 133 | €2,834 | €2,834 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€76,914 | -€80,756 | -€3,842 | -5.0% |
| Amounts payable | 17/49 | €95,261 | €90,918 | -€4,343 | -4.6% |
| Amounts payable after more than one year | 17 | €24,100 | €19,900 | -€4,200 | -17.4% |
| Financial debts | 170/4 | €24,100 | €19,900 | -€4,200 | -17.4% |
| Amounts payable within one year | 42/48 | €71,161 | €71,018 | -€143 | -0.2% |
| Current portion of amounts payable after more than one year | 42 | €4,200 | €4,200 | = | 0.0% |
| Trade debts | 44 | €9,228 | €3,900 | -€5,328 | -57.7% |
| Suppliers | 440/4 | €9,228 | €3,900 | -€5,328 | -57.7% |
| Taxes, remuneration and social security | 45 | €1,546 | €942 | -€604 | -39.1% |
| Taxes | 450/3 | €1,546 | €942 | -€604 | -39.1% |
| Other amounts payable | 47/48 | €56,187 | €61,976 | +€5,789 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,378 | €6,579 | -€12,799 | -66.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €66 | +€66 | |
| Other operating charges | 640/8 | €1,471 | €1,262 | -€209 | -14.2% |
| Gross operating margin | 9900 | €19,279 | €4,077 | -€15,202 | -78.9% |
| Operating profit (loss) | 9901 | -€1,570 | -€3,829 | -€2,259 | -144% |
| Financial income | 75/76B | €4,145 | €42 | -€4,103 | -99.0% |
| Recurring financial income | 75 | €29 | €42 | +€13 | +46.2% |
| Non-recurring financial income | 76B | €4,116 | - | -€4,116 | |
| Financial charges | 65/66B | €101 | €56 | -€45 | -45.0% |
| Recurring financial charges | 65 | €101 | €56 | -€45 | -45.0% |
| Profit (loss) for the period before taxes | 9903 | €2,474 | -€3,842 | -€6,316 | |
| Profit (loss) for the period | 9904 | €2,474 | -€3,842 | -€6,316 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,474 | -€3,842 | -€6,316 |
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 16 October 2026 via checked.be.