VERVOER BAERT MENEN: what changed
VERVOER BAERT MENEN
Largest movements
- Tangible fixed assets +€290,759
up €290,759 (+70.4%), from €413,041 to €703,800
of which Furniture and vehicles: +€284,668
- Cash +€42,409
up €42,409 (+112%), from €37,705 to €80,114
mainly Debts after one year (+€238,361) and Depreciation (+€133,941)
- Stocks and contracts +€17,215
new in 2025: €17,215
- Receivables within one year +€15,871
up €15,871 (+10.4%), from €152,383 to €168,254
of which Other amounts receivable: +€12,850
- Debts after one year +€238,361
up €238,361 (+199%), from €120,072 to €358,434
- Reserves +€89,317
up €89,317 (+200%), from €44,677 to €133,995
- Current portion of long-term debt +€77,112
up €77,112 (+92.6%), from €83,254 to €160,366
- Other debts -€65,463
down €65,463 (-23.2%), from €281,837 to €216,374
- Trade debts +€19,527
up €19,527 (+55.5%), from €35,215 to €54,742
- Gross operating margin +€273,827
up €273,827 (+181%), from €150,903 to €424,731
- Staff costs +€114,680
up €114,680 (+341%), from €33,621 to €148,300
- Depreciation +€88,533
up €88,533 (+195%), from €45,409 to €133,941
- Other operating charges +€12,379
up €12,379 (+974%), from €1,271 to €13,649
- Financial charges +€9,932
up €9,932 (+261%), from €3,803 to €13,735
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €620,171 | €986,277 | +€366,107 | +59.0% |
| Fixed assets | 21/28 | €414,041 | €704,800 | +€290,759 | +70.2% |
| Intangible fixed assets | 21 | €1,000 | €1,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €413,041 | €703,800 | +€290,759 | +70.4% |
| Plant, machinery and equipment | 23 | €3,942 | €12,533 | +€8,591 | +218% |
| Furniture and vehicles | 24 | €385,366 | €670,035 | +€284,668 | +73.9% |
| Other tangible fixed assets | 26 | €23,733 | €21,233 | -€2,500 | -10.5% |
| Current assets | 29/58 | €206,129 | €281,477 | +€75,348 | +36.6% |
| Stocks and contracts in progress | 3 | - | €17,215 | +€17,215 | |
| Stocks | 30/36 | - | €17,215 | +€17,215 | |
| Amounts receivable within one year | 40/41 | €152,383 | €168,254 | +€15,871 | +10.4% |
| Trade receivables | 40 | €149,992 | €153,013 | +€3,021 | +2.0% |
| Other amounts receivable | 41 | €2,391 | €15,241 | +€12,850 | +537% |
| Cash at bank and in hand | 54/58 | €37,705 | €80,114 | +€42,409 | +112% |
| Deferred charges and accrued income | 490/1 | €16,041 | €15,893 | -€148 | -0.9% |
| Total equity and liabilities | 10/49 | €620,171 | €986,277 | +€366,107 | +59.0% |
| Equity | 10/15 | €49,677 | €138,995 | +€89,317 | +180% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €44,677 | €133,995 | +€89,317 | +200% |
| Distributable reserves | 133 | €44,677 | €133,995 | +€89,317 | +200% |
| Amounts payable | 17/49 | €570,493 | €847,283 | +€276,789 | +48.5% |
| Amounts payable after more than one year | 17 | €120,072 | €358,434 | +€238,361 | +199% |
| Financial debts | 170/4 | €120,072 | €358,434 | +€238,361 | +199% |
| Amounts payable within one year | 42/48 | €450,380 | €488,395 | +€38,015 | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €83,254 | €160,366 | +€77,112 | +92.6% |
| Trade debts | 44 | €35,215 | €54,742 | +€19,527 | +55.5% |
| Suppliers | 440/4 | €35,215 | €54,742 | +€19,527 | +55.5% |
| Taxes, remuneration and social security | 45 | €50,074 | €56,913 | +€6,839 | +13.7% |
| Taxes | 450/3 | €42,856 | €38,727 | -€4,129 | -9.6% |
| Remuneration and social security | 454/9 | €7,218 | €18,186 | +€10,969 | +152% |
| Other amounts payable | 47/48 | €281,837 | €216,374 | -€65,463 | -23.2% |
| Accrued charges and deferred income | 492/3 | €41 | €454 | +€413 | +1,003% |
| Non-recurring operating income | 76A | - | €105 | +€105 | |
| Remuneration, social security and pensions | 62 | €33,621 | €148,300 | +€114,680 | +341% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,409 | €133,941 | +€88,533 | +195% |
| Other operating charges | 640/8 | €1,271 | €13,649 | +€12,379 | +974% |
| Gross operating margin | 9900 | €150,903 | €424,731 | +€273,827 | +181% |
| Operating profit (loss) | 9901 | €70,603 | €128,839 | +€58,236 | +82.5% |
| Financial income | 75/76B | €3 | €148 | +€146 | +5,686% |
| Recurring financial income | 75 | €3 | €148 | +€146 | +5,686% |
| Financial charges | 65/66B | €3,803 | €13,735 | +€9,932 | +261% |
| Recurring financial charges | 65 | €3,803 | €13,735 | +€9,932 | +261% |
| Profit (loss) for the period before taxes | 9903 | €66,803 | €115,253 | +€48,450 | +72.5% |
| Income taxes | 67/77 | €22,126 | €25,936 | +€3,810 | +17.2% |
| Profit (loss) for the period | 9904 | €44,677 | €89,317 | +€44,640 | +99.9% |
| Profit (loss) for the period to be appropriated | 9905 | €44,677 | €89,317 | +€44,640 | +99.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.