VERVODEV: 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.
VERVODEV
Largest movements
- Tangible fixed assets +€848,001
up €848,001 (+27.2%), from €3.1m to €4.0m
of which Assets under construction and advance payments: +€908,371
- Current investments -€770,000
down €770,000 (-41.3%), from €1.9m to €1.1m
- Trade debts +€155,598
up €155,598 (+12,768%), from €1,219 to €156,816
- Gross operating margin +€171,438
up €171,438, from -€150,172 to €21,265
- Financial income -€38,063
down €38,063 (-52.1%), from €73,119 to €35,056
- Staff costs +€22,349
up €22,349 (+300%), from €7,462 to €29,811
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 | €5,089,606 | €5,207,788 | +€118,182 | +2.3% |
| Fixed assets | 21/28 | €3,119,271 | €3,967,272 | +€848,001 | +27.2% |
| Tangible fixed assets | 22/27 | €3,119,271 | €3,967,272 | +€848,001 | +27.2% |
| Land and buildings | 22 | €3,033,905 | €2,982,905 | -€51,000 | -1.7% |
| Furniture and vehicles | 24 | €34,577 | €25,207 | -€9,370 | -27.1% |
| Assets under construction and advance payments | 27 | €50,788 | €959,159 | +€908,371 | +1,789% |
| Current assets | 29/58 | €1,970,335 | €1,240,516 | -€729,819 | -37.0% |
| Amounts receivable within one year | 40/41 | €72,150 | €101,398 | +€29,248 | +40.5% |
| Trade receivables | 40 | €150 | €150 | = | 0.0% |
| Other amounts receivable | 41 | €72,000 | €101,248 | +€29,248 | +40.6% |
| Current investments | 50/53 | €1,866,000 | €1,096,000 | -€770,000 | -41.3% |
| Cash at bank and in hand | 54/58 | €31,302 | €34,330 | +€3,028 | +9.7% |
| Deferred charges and accrued income | 490/1 | €883 | €8,788 | +€7,905 | +895% |
| Total equity and liabilities | 10/49 | €5,089,606 | €5,207,788 | +€118,182 | +2.3% |
| Equity | 10/15 | €1,048,859 | €1,009,932 | -€38,927 | -3.7% |
| Contributions | 10/11 | €1,452,000 | €1,452,000 | = | 0.0% |
| Capital | 10 | €1,452,000 | €1,452,000 | = | 0.0% |
| Issued capital | 100 | €1,452,000 | €1,452,000 | = | 0.0% |
| Reserves | 13 | €9,934 | €9,934 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,934 | €9,934 | = | 0.0% |
| Legal reserve | 130 | €9,934 | €9,934 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€413,075 | -€452,002 | -€38,927 | -9.4% |
| Amounts payable | 17/49 | €4,040,747 | €4,197,856 | +€157,109 | +3.9% |
| Amounts payable within one year | 42/48 | €4,040,747 | €4,197,856 | +€157,109 | +3.9% |
| Trade debts | 44 | €1,219 | €156,816 | +€155,598 | +12,768% |
| Suppliers | 440/4 | €1,219 | €156,816 | +€155,598 | +12,768% |
| Taxes, remuneration and social security | 45 | €1,247 | €2,044 | +€798 | +64.0% |
| Taxes | 450/3 | €53 | - | -€53 | |
| Remuneration and social security | 454/9 | €1,193 | €2,044 | +€851 | +71.3% |
| Other amounts payable | 47/48 | €4,038,281 | €4,038,995 | +€714 | 0.0% |
| Remuneration, social security and pensions | 62 | €7,462 | €29,811 | +€22,349 | +300% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,370 | €60,370 | = | 0.0% |
| Other operating charges | 640/8 | €6,358 | €4,932 | -€1,425 | -22.4% |
| Gross operating margin | 9900 | -€150,172 | €21,265 | +€171,438 | |
| Operating profit (loss) | 9901 | -€224,362 | -€73,848 | +€150,514 | +67.1% |
| Financial income | 75/76B | €73,119 | €35,056 | -€38,063 | -52.1% |
| Recurring financial income | 75 | €73,119 | €35,056 | -€38,063 | -52.1% |
| Financial charges | 65/66B | €115 | €135 | +€21 | +18.1% |
| Recurring financial charges | 65 | €115 | €135 | +€21 | +18.1% |
| Profit (loss) for the period before taxes | 9903 | -€151,358 | -€38,927 | +€112,431 | +74.3% |
| Profit (loss) for the period | 9904 | -€151,358 | -€38,927 | +€112,431 | +74.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€151,358 | -€38,927 | +€112,431 | +74.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.