VERVLOET: 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.
VERVLOET
Largest movements
- Receivables within one year -€32,627
down €32,627 (-81.2%), from €40,161 to €7,534
of which Trade receivables: -€18,655
- Cash -€26,776
down €26,776 (-32.4%), from €82,754 to €55,978
mainly Net result for the year (-€43,477) and Tax, wage and social debts (-€15,772)
- Tangible fixed assets -€15,240
down €15,240 (-17.3%), from €88,198 to €72,958
of which Furniture and vehicles: -€11,838
- Stocks and contracts +€3,000
up €3,000 (+9.1%), from €33,000 to €36,000
- Profit (loss) carried forward -€43,477
down €43,477 (-1,811%), from -€2,400 to -€45,878
- Tax, wage and social debts -€15,772
down €15,772 (-96.1%), from €16,417 to €645
- Debts after one year -€11,843
down €11,843 (-66.5%), from €17,812 to €5,970
- Trade debts -€7,286
down €7,286 (-86.3%), from €8,443 to €1,157
- Other debts +€6,548
new in 2025: €6,548
- Gross operating margin -€35,066
down €35,066, from €9,467 to -€25,599
- Financial income -€730
down €730 (-56.4%), from €1,296 to €566
- Financial charges -€570
down €570 (-34.8%), from €1,634 to €1,065
- Other operating charges -€458
down €458 (-37.6%), from €1,217 to €760
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 | €284,618 | €212,914 | -€71,704 | -25.2% |
| Fixed assets | 21/28 | €88,703 | €73,402 | -€15,300 | -17.2% |
| Tangible fixed assets | 22/27 | €88,198 | €72,958 | -€15,240 | -17.3% |
| Land and buildings | 22 | €56,647 | €53,442 | -€3,205 | -5.7% |
| Plant, machinery and equipment | 23 | €427 | €230 | -€197 | -46.2% |
| Furniture and vehicles | 24 | €31,124 | €19,286 | -€11,838 | -38.0% |
| Financial fixed assets | 28 | €505 | €445 | -€60 | -11.9% |
| Current assets | 29/58 | €195,915 | €139,512 | -€56,404 | -28.8% |
| Stocks and contracts in progress | 3 | €33,000 | €36,000 | +€3,000 | +9.1% |
| Stocks | 30/36 | €33,000 | €36,000 | +€3,000 | +9.1% |
| Amounts receivable within one year | 40/41 | €40,161 | €7,534 | -€32,627 | -81.2% |
| Trade receivables | 40 | €23,531 | €4,876 | -€18,655 | -79.3% |
| Other amounts receivable | 41 | €16,630 | €2,657 | -€13,973 | -84.0% |
| Current investments | 50/53 | €40,000 | €40,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €82,754 | €55,978 | -€26,776 | -32.4% |
| Total equity and liabilities | 10/49 | €284,618 | €212,914 | -€71,704 | -25.2% |
| Equity | 10/15 | €230,229 | €186,752 | -€43,477 | -18.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €214,029 | €214,029 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €212,169 | €212,169 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,400 | -€45,878 | -€43,477 | -1,811% |
| Amounts payable | 17/49 | €54,389 | €26,162 | -€28,226 | -51.9% |
| Amounts payable after more than one year | 17 | €17,812 | €5,970 | -€11,843 | -66.5% |
| Financial debts | 170/4 | €17,812 | €5,970 | -€11,843 | -66.5% |
| Amounts payable within one year | 42/48 | €36,576 | €20,193 | -€16,383 | -44.8% |
| Current portion of amounts payable after more than one year | 42 | €11,716 | €11,843 | +€126 | +1.1% |
| Trade debts | 44 | €8,443 | €1,157 | -€7,286 | -86.3% |
| Suppliers | 440/4 | €8,443 | €1,157 | -€7,286 | -86.3% |
| Taxes, remuneration and social security | 45 | €16,417 | €645 | -€15,772 | -96.1% |
| Taxes | 450/3 | €16,417 | €645 | -€15,772 | -96.1% |
| Other amounts payable | 47/48 | - | €6,548 | +€6,548 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,281 | €16,296 | +€15 | +0.1% |
| Other operating charges | 640/8 | €1,217 | €760 | -€458 | -37.6% |
| Gross operating margin | 9900 | €9,467 | -€25,599 | -€35,066 | |
| Operating profit (loss) | 9901 | -€8,031 | -€42,654 | -€34,623 | -431% |
| Financial income | 75/76B | €1,296 | €566 | -€730 | -56.4% |
| Recurring financial income | 75 | €1,296 | €566 | -€730 | -56.4% |
| Financial charges | 65/66B | €1,634 | €1,065 | -€570 | -34.8% |
| Recurring financial charges | 65 | €1,634 | €1,065 | -€570 | -34.8% |
| Profit (loss) for the period before taxes | 9903 | -€8,369 | -€43,153 | -€34,784 | -416% |
| Income taxes | 67/77 | €241 | €324 | +€83 | +34.4% |
| Profit (loss) for the period | 9904 | -€8,611 | -€43,477 | -€34,867 | -405% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,611 | -€43,477 | -€34,867 | -405% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.