VERVIT: 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.
VERVIT
Largest movements
- Tangible fixed assets +€1.0m
up €1.0m (+27.9%), from €3.6m to €4.6m
of which Assets under construction and advance payments: +€981,763
- Cash -€273,948
down €273,948 (-95.5%), from €286,910 to €12,962
mainly Investment in fixed assets (net) (-€1.1m) and Deferred charges and accrued income (-€209,920)
- Financial fixed assets -€231,307
down €231,307 (-100%), from €231,307 to €0
- Deferred charges and accrued income +€209,920
up €209,920 (+474%), from €44,262 to €254,182
- Intangible fixed assets +€165,031
new in 2025: €165,031
- Contributions +€500,000
up €500,000 (+381%), from €131,300 to €631,300
- Other debts +€295,000
up €295,000 (+101%), from €291,383 to €586,383
- Short-term financial debts +€220,000
new in 2025: €220,000
- Advances received -€157,098
down €157,098 (-43.7%), from €359,407 to €202,309
- Current portion of long-term debt -€129,247
down €129,247 (-30.3%), from €426,143 to €296,896
- Gross operating margin +€522,464
up €522,464 (+110%), from €474,587 to €997,051
- Staff costs +€357,705
up €357,705 (+99.5%), from €359,631 to €717,336
- Depreciation +€85,676
up €85,676 (+91.8%), from €93,333 to €179,008
- Financial charges +€55,986
up €55,986 (+126%), from €44,526 to €100,513
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 | €4,463,710 | €5,378,930 | +€915,220 | +20.5% |
| Formation expenses | 20 | - | €2,743 | +€2,743 | |
| Fixed assets | 21/28 | €3,816,583 | €4,750,913 | +€934,330 | +24.5% |
| Intangible fixed assets | 21 | - | €165,031 | +€165,031 | |
| Tangible fixed assets | 22/27 | €3,585,276 | €4,585,882 | +€1.0m | +27.9% |
| Land and buildings | 22 | €1,914,048 | €1,860,358 | -€53,690 | -2.8% |
| Plant, machinery and equipment | 23 | €258,021 | €332,512 | +€74,490 | +28.9% |
| Furniture and vehicles | 24 | €16,827 | €14,869 | -€1,958 | -11.6% |
| Assets under construction and advance payments | 27 | €1,396,380 | €2,378,143 | +€981,763 | +70.3% |
| Financial fixed assets | 28 | €231,307 | €0 | -€231,307 | -100% |
| Current assets | 29/58 | €647,127 | €625,274 | -€21,853 | -3.4% |
| Stocks and contracts in progress | 3 | €92,960 | €161,115 | +€68,155 | +73.3% |
| Stocks | 30/36 | €92,960 | €161,115 | +€68,155 | +73.3% |
| Amounts receivable within one year | 40/41 | €222,996 | €197,015 | -€25,981 | -11.7% |
| Trade receivables | 40 | €183,782 | €193,851 | +€10,068 | +5.5% |
| Other amounts receivable | 41 | €39,213 | €3,165 | -€36,049 | -91.9% |
| Cash at bank and in hand | 54/58 | €286,910 | €12,962 | -€273,948 | -95.5% |
| Deferred charges and accrued income | 490/1 | €44,262 | €254,182 | +€209,920 | +474% |
| Total equity and liabilities | 10/49 | €4,463,710 | €5,378,930 | +€915,220 | +20.5% |
| Equity | 10/15 | €100,539 | €588,934 | +€488,395 | +486% |
| Contributions | 10/11 | €131,300 | €631,300 | +€500,000 | +381% |
| Reserves | 13 | €268,018 | €268,018 | = | 0.0% |
| Distributable reserves | 133 | €268,018 | €268,018 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€298,779 | -€310,384 | -€11,605 | -3.9% |
| Amounts payable | 17/49 | €4,363,171 | €4,789,996 | +€426,825 | +9.8% |
| Amounts payable after more than one year | 17 | €2,906,782 | €3,002,512 | +€95,730 | +3.3% |
| Financial debts | 170/4 | €2,906,782 | €2,751,678 | -€155,104 | -5.3% |
| Other amounts payable | 178/9 | - | €250,833 | +€250,833 | |
| Amounts payable within one year | 42/48 | €1,456,389 | €1,787,484 | +€331,095 | +22.7% |
| Current portion of amounts payable after more than one year | 42 | €426,143 | €296,896 | -€129,247 | -30.3% |
| Financial debts | 43 | - | €220,000 | +€220,000 | |
| Credit institutions | 430/8 | - | €220,000 | +€220,000 | |
| Trade debts | 44 | €324,690 | €378,432 | +€53,741 | +16.6% |
| Suppliers | 440/4 | €324,690 | €378,432 | +€53,741 | +16.6% |
| Advances received on contracts in progress | 46 | €359,407 | €202,309 | -€157,098 | -43.7% |
| Taxes, remuneration and social security | 45 | €54,766 | €103,465 | +€48,699 | +88.9% |
| Taxes | 450/3 | €5,726 | €7,302 | +€1,577 | +27.5% |
| Remuneration and social security | 454/9 | €49,040 | €96,163 | +€47,123 | +96.1% |
| Other amounts payable | 47/48 | €291,383 | €586,383 | +€295,000 | +101% |
| Remuneration, social security and pensions | 62 | €359,631 | €717,336 | +€357,705 | +99.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,333 | €179,008 | +€85,676 | +91.8% |
| Other operating charges | 640/8 | €14,608 | €14,131 | -€478 | -3.3% |
| Gross operating margin | 9900 | €474,587 | €997,051 | +€522,464 | +110% |
| Operating profit (loss) | 9901 | €7,015 | €86,576 | +€79,561 | +1,134% |
| Financial income | 75/76B | €1,731 | €2,331 | +€600 | +34.6% |
| Recurring financial income | 75 | €1,731 | €2,331 | +€600 | +34.6% |
| Financial charges | 65/66B | €44,526 | €100,513 | +€55,986 | +126% |
| Recurring financial charges | 65 | €44,526 | €100,513 | +€55,986 | +126% |
| Profit (loss) for the period before taxes | 9903 | -€35,780 | -€11,605 | +€24,175 | +67.6% |
| Income taxes | 67/77 | €116 | €0 | -€116 | -100% |
| Profit (loss) for the period | 9904 | -€35,896 | -€11,605 | +€24,291 | +67.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€35,896 | -€11,605 | +€24,291 | +67.7% |
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 23 October 2026 via checked.be.