VERVOER DENYS: what changed
VERVOER DENYS
Largest movements
- Tangible fixed assets -€36,042
down €36,042 (-35.1%), from €102,586 to €66,543
of which Furniture and vehicles: -€33,619
- Receivables within one year +€25,058
up €25,058 (+5.8%), from €432,632 to €457,690
of which Other amounts receivable: +€22,715
- Cash -€15,591
down €15,591 (-17.4%), from €89,568 to €73,977
mainly Debts after one year (-€30,197) and Receivables within one year (-€25,058)
- Deferred charges and accrued income -€8,053
down €8,053 (-71.7%), from €11,234 to €3,181
- Debts after one year -€30,197
down €30,197 (-74.7%), from €40,401 to €10,204
- Trade debts -€19,627
down €19,627 (-8.5%), from €230,596 to €210,969
- Tax, wage and social debts +€17,238
up €17,238 (+42.5%), from €40,540 to €57,778
of which Remuneration and social security: +€20,513
- Profit (loss) carried forward +€11,957
up €11,957 (+25.7%), from €46,476 to €58,433
- Current portion of long-term debt -€11,039
down €11,039 (-26.8%), from €41,236 to €30,197
- Staff costs +€48,249
up €48,249 (+14.8%), from €325,928 to €374,177
- Gross operating margin +€31,504
up €31,504 (+7.7%), from €407,175 to €438,680
- Other operating charges +€4,928
up €4,928 (+122%), from €4,034 to €8,963
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 | €640,219 | €608,891 | -€31,328 | -4.9% |
| Fixed assets | 21/28 | €106,086 | €74,043 | -€32,042 | -30.2% |
| Tangible fixed assets | 22/27 | €102,586 | €66,543 | -€36,042 | -35.1% |
| Plant, machinery and equipment | 23 | €2,978 | €1,850 | -€1,128 | -37.9% |
| Furniture and vehicles | 24 | €88,710 | €55,091 | -€33,619 | -37.9% |
| Other tangible fixed assets | 26 | €10,898 | €9,603 | -€1,295 | -11.9% |
| Financial fixed assets | 28 | €3,500 | €7,500 | +€4,000 | +114% |
| Current assets | 29/58 | €534,133 | €534,847 | +€714 | +0.1% |
| Amounts receivable within one year | 40/41 | €432,632 | €457,690 | +€25,058 | +5.8% |
| Trade receivables | 40 | €262,802 | €265,145 | +€2,343 | +0.9% |
| Other amounts receivable | 41 | €169,829 | €192,544 | +€22,715 | +13.4% |
| Current investments | 50/53 | €699 | €0 | -€699 | -100% |
| Cash at bank and in hand | 54/58 | €89,568 | €73,977 | -€15,591 | -17.4% |
| Deferred charges and accrued income | 490/1 | €11,234 | €3,181 | -€8,053 | -71.7% |
| Total equity and liabilities | 10/49 | €640,219 | €608,891 | -€31,328 | -4.9% |
| Equity | 10/15 | €278,076 | €289,433 | +€11,357 | +4.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €211,661 | €211,661 | = | 0.0% |
| Tax-exempt reserves | 132 | €51,085 | €51,085 | = | 0.0% |
| Distributable reserves | 133 | €160,576 | €160,576 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,476 | €58,433 | +€11,957 | +25.7% |
| Investment grants | 15 | €1,346 | €746 | -€600 | -44.6% |
| Amounts payable | 17/49 | €362,143 | €319,458 | -€42,685 | -11.8% |
| Amounts payable after more than one year | 17 | €40,401 | €10,204 | -€30,197 | -74.7% |
| Financial debts | 170/4 | €40,401 | €10,204 | -€30,197 | -74.7% |
| Amounts payable within one year | 42/48 | €312,372 | €303,063 | -€9,310 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | €41,236 | €30,197 | -€11,039 | -26.8% |
| Financial debts | 43 | - | €4,118 | +€4,118 | |
| Credit institutions | 430/8 | - | €4,118 | +€4,118 | |
| Trade debts | 44 | €230,596 | €210,969 | -€19,627 | -8.5% |
| Suppliers | 440/4 | €230,596 | €210,969 | -€19,627 | -8.5% |
| Taxes, remuneration and social security | 45 | €40,540 | €57,778 | +€17,238 | +42.5% |
| Taxes | 450/3 | €28,423 | €25,148 | -€3,276 | -11.5% |
| Remuneration and social security | 454/9 | €12,117 | €32,630 | +€20,513 | +169% |
| Accrued charges and deferred income | 492/3 | €9,370 | €6,192 | -€3,178 | -33.9% |
| Remuneration, social security and pensions | 62 | €325,928 | €374,177 | +€48,249 | +14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,849 | €37,142 | -€706 | -1.9% |
| Other operating charges | 640/8 | €4,034 | €8,963 | +€4,928 | +122% |
| Non-recurring operating charges | 66A | €6,491 | €0 | -€6,491 | -100% |
| Gross operating margin | 9900 | €407,175 | €438,680 | +€31,504 | +7.7% |
| Operating profit (loss) | 9901 | €32,874 | €18,397 | -€14,476 | -44.0% |
| Financial income | 75/76B | €2,948 | €2,685 | -€263 | -8.9% |
| Recurring financial income | 75 | €2,948 | €2,685 | -€263 | -8.9% |
| Financial charges | 65/66B | €2,707 | €1,552 | -€1,156 | -42.7% |
| Recurring financial charges | 65 | €2,707 | €1,552 | -€1,156 | -42.7% |
| Profit (loss) for the period before taxes | 9903 | €33,114 | €19,531 | -€13,583 | -41.0% |
| Income taxes | 67/77 | €8,579 | €7,574 | -€1,005 | -11.7% |
| Profit (loss) for the period | 9904 | €24,535 | €11,957 | -€12,578 | -51.3% |
| Profit (loss) for the period to be appropriated | 9905 | €24,535 | €11,957 | -€12,578 | -51.3% |
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 7 November 2026 via checked.be.