VERVLOESSEM: 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.
VERVLOESSEM
Largest movements
- Cash +€39,734
up €39,734 (+609%), from €6,525 to €46,260
mainly Current investments (+€36,186) and Receivables within one year (+€32,371)
- Current investments -€36,186
down €36,186 (-35.4%), from €102,127 to €65,941
- Receivables within one year -€32,371
down €32,371 (-31.1%), from €104,232 to €71,861
of which Trade receivables: -€30,274
- Stocks and contracts +€11,022
up €11,022 (+237%), from €4,659 to €15,681
of which Contracts in progress: +€11,187
- Tangible fixed assets -€3,928
down €3,928 (-11.8%), from €33,389 to €29,461
of which Furniture and vehicles: -€7,730
- Reserves -€32,988
down €32,988 (-20.7%), from €159,622 to €126,634
of which Distributable reserves: -€32,988
- Accrued charges and deferred income +€27,343
new in 2025: €27,343
- Current portion of long-term debt -€10,509
down €10,509 (-82.9%), from €12,673 to €2,164
- Trade debts -€5,209
down €5,209 (-55.7%), from €9,345 to €4,136
- Gross operating margin -€9,820
down €9,820 (-9.3%), from €105,874 to €96,055
- Staff costs -€8,261
down €8,261 (-9.2%), from €89,933 to €81,672
- Financial income +€3,109
up €3,109 (+1,112%), from €280 to €3,389
- Depreciation +€1,635
up €1,635 (+22.4%), from €7,296 to €8,931
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 | €251,824 | €230,096 | -€21,729 | -8.6% |
| Fixed assets | 21/28 | €34,281 | €30,353 | -€3,928 | -11.5% |
| Tangible fixed assets | 22/27 | €33,389 | €29,461 | -€3,928 | -11.8% |
| Plant, machinery and equipment | 23 | €1,319 | €5,120 | +€3,802 | +288% |
| Furniture and vehicles | 24 | €32,070 | €24,340 | -€7,730 | -24.1% |
| Financial fixed assets | 28 | €892 | €892 | = | 0.0% |
| Current assets | 29/58 | €217,543 | €199,743 | -€17,800 | -8.2% |
| Stocks and contracts in progress | 3 | €4,659 | €15,681 | +€11,022 | +237% |
| Stocks | 30/36 | €4,659 | €4,494 | -€165 | -3.5% |
| Contracts in progress | 37 | - | €11,187 | +€11,187 | |
| Amounts receivable within one year | 40/41 | €104,232 | €71,861 | -€32,371 | -31.1% |
| Trade receivables | 40 | €101,213 | €70,939 | -€30,274 | -29.9% |
| Other amounts receivable | 41 | €3,019 | €922 | -€2,097 | -69.5% |
| Current investments | 50/53 | €102,127 | €65,941 | -€36,186 | -35.4% |
| Cash at bank and in hand | 54/58 | €6,525 | €46,260 | +€39,734 | +609% |
| Total equity and liabilities | 10/49 | €251,824 | €230,096 | -€21,729 | -8.6% |
| Equity | 10/15 | €223,622 | €190,634 | -€32,988 | -14.8% |
| Contributions | 10/11 | €64,000 | €64,000 | = | 0.0% |
| Capital | 10 | €64,000 | €64,000 | = | 0.0% |
| Issued capital | 100 | €64,000 | €64,000 | = | 0.0% |
| Reserves | 13 | €159,622 | €126,634 | -€32,988 | -20.7% |
| Non-distributable reserves | 130/1 | €12,000 | €12,000 | = | 0.0% |
| Legal reserve | 130 | €12,000 | €12,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €91,372 | €58,384 | -€32,988 | -36.1% |
| Amounts payable | 17/49 | €28,202 | €39,461 | +€11,259 | +39.9% |
| Amounts payable after more than one year | 17 | €2,164 | - | -€2,164 | |
| Financial debts | 170/4 | €2,164 | - | -€2,164 | |
| Amounts payable within one year | 42/48 | €26,038 | €12,118 | -€13,920 | -53.5% |
| Current portion of amounts payable after more than one year | 42 | €12,673 | €2,164 | -€10,509 | -82.9% |
| Trade debts | 44 | €9,345 | €4,136 | -€5,209 | -55.7% |
| Suppliers | 440/4 | €9,345 | €4,136 | -€5,209 | -55.7% |
| Taxes, remuneration and social security | 45 | €3,835 | €5,819 | +€1,984 | +51.7% |
| Taxes | 450/3 | €3,835 | €5,819 | +€1,984 | +51.7% |
| Other amounts payable | 47/48 | €186 | - | -€186 | |
| Accrued charges and deferred income | 492/3 | - | €27,343 | +€27,343 | |
| Non-recurring operating income | 76A | €3,826 | - | -€3,826 | |
| Remuneration, social security and pensions | 62 | €89,933 | €81,672 | -€8,261 | -9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,296 | €8,931 | +€1,635 | +22.4% |
| Other operating charges | 640/8 | €1,340 | €1,394 | +€54 | +4.0% |
| Gross operating margin | 9900 | €105,874 | €96,055 | -€9,820 | -9.3% |
| Operating profit (loss) | 9901 | €7,305 | €4,057 | -€3,248 | -44.5% |
| Financial income | 75/76B | €280 | €3,389 | +€3,109 | +1,112% |
| Recurring financial income | 75 | €280 | €3,389 | +€3,109 | +1,112% |
| Financial charges | 65/66B | €1,950 | €2,926 | +€976 | +50.0% |
| Recurring financial charges | 65 | €1,950 | €2,926 | +€976 | +50.0% |
| Profit (loss) for the period before taxes | 9903 | €5,634 | €4,519 | -€1,115 | -19.8% |
| Income taxes | 67/77 | €2,481 | €2,346 | -€135 | -5.4% |
| Profit (loss) for the period | 9904 | €3,153 | €2,173 | -€980 | -31.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,153 | €2,173 | -€980 | -31.1% |
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 31 October 2026 via checked.be.