VRESNERE: 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.
VRESNERE
Largest movements
- Tangible fixed assets -€106,541
down €106,541 (-14.5%), from €734,137 to €627,596
of which Land and buildings: -€102,448
- Receivables within one year +€58,305
up €58,305 (+182%), from €32,044 to €90,349
of which Other amounts receivable: +€74,539
- Cash -€14,722
down €14,722 (-31.7%), from €46,385 to €31,663
mainly Receivables within one year (-€58,305) and Advances received (-€21,375)
- Reserves -€26,931
down €26,931 (-7.3%), from €368,691 to €341,761
of which Tax-exempt reserves: -€16,528
- Advances received -€21,375
down €21,375 (-91.0%), from €23,483 to €2,108
- Profit (loss) carried forward +€21,228
up €21,228 (+238%), from €8,932 to €30,159
- Debts after one year -€17,501
down €17,501 (-6.3%), from €277,501 to €260,000
- Accrued charges and deferred income +€11,012
up €11,012 (+93.8%), from €11,738 to €22,750
- Gross operating margin -€11,810
down €11,810 (-9.2%), from €127,892 to €116,082
- Taxes -€4,243
down €4,243 (-19.7%), from €21,550 to €17,307
- Depreciation -€2,830
down €2,830 (-3.8%), from €73,607 to €70,777
- Other operating charges -€2,274
down €2,274 (-12.8%), from €17,801 to €15,527
- Financial charges -€2,161
down €2,161 (-13.8%), from €15,619 to €13,457
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 | €824,036 | €760,873 | -€63,163 | -7.7% |
| Fixed assets | 21/28 | €734,137 | €627,596 | -€106,541 | -14.5% |
| Tangible fixed assets | 22/27 | €734,137 | €627,596 | -€106,541 | -14.5% |
| Land and buildings | 22 | €712,182 | €609,735 | -€102,448 | -14.4% |
| Plant, machinery and equipment | 23 | €15,694 | €13,649 | -€2,046 | -13.0% |
| Furniture and vehicles | 24 | €6,260 | €4,213 | -€2,047 | -32.7% |
| Current assets | 29/58 | €89,899 | €133,277 | +€43,378 | +48.3% |
| Amounts receivable within one year | 40/41 | €32,044 | €90,349 | +€58,305 | +182% |
| Trade receivables | 40 | €26,539 | €10,305 | -€16,234 | -61.2% |
| Other amounts receivable | 41 | €5,505 | €80,044 | +€74,539 | +1,354% |
| Current investments | 50/53 | €144 | €145 | +€1 | +0.4% |
| Cash at bank and in hand | 54/58 | €46,385 | €31,663 | -€14,722 | -31.7% |
| Deferred charges and accrued income | 490/1 | €11,326 | €11,120 | -€206 | -1.8% |
| Total equity and liabilities | 10/49 | €824,036 | €760,873 | -€63,163 | -7.7% |
| Equity | 10/15 | €396,223 | €390,520 | -€5,703 | -1.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €368,691 | €341,761 | -€26,931 | -7.3% |
| Tax-exempt reserves | 132 | €202,407 | €185,878 | -€16,528 | -8.2% |
| Distributable reserves | 133 | €166,285 | €155,882 | -€10,402 | -6.3% |
| Profit (loss) carried forward | 14 | €8,932 | €30,159 | +€21,228 | +238% |
| Provisions and deferred taxes | 16 | €67,469 | €61,959 | -€5,509 | -8.2% |
| Deferred taxes | 168 | €67,469 | €61,959 | -€5,509 | -8.2% |
| Amounts payable | 17/49 | €360,344 | €308,394 | -€51,951 | -14.4% |
| Amounts payable after more than one year | 17 | €277,501 | €260,000 | -€17,501 | -6.3% |
| Financial debts | 170/4 | €277,501 | €260,000 | -€17,501 | -6.3% |
| Amounts payable within one year | 42/48 | €71,106 | €25,644 | -€45,462 | -63.9% |
| Current portion of amounts payable after more than one year | 42 | €23,333 | €17,501 | -€5,833 | -25.0% |
| Trade debts | 44 | €3,334 | €2,415 | -€919 | -27.6% |
| Suppliers | 440/4 | €3,334 | €2,415 | -€919 | -27.6% |
| Advances received on contracts in progress | 46 | €23,483 | €2,108 | -€21,375 | -91.0% |
| Taxes, remuneration and social security | 45 | €12,698 | €3,620 | -€9,078 | -71.5% |
| Taxes | 450/3 | €12,698 | €3,620 | -€9,078 | -71.5% |
| Other amounts payable | 47/48 | €8,258 | - | -€8,258 | |
| Accrued charges and deferred income | 492/3 | €11,738 | €22,750 | +€11,012 | +93.8% |
| Non-recurring operating income | 76A | - | €15,957 | +€15,957 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,607 | €70,777 | -€2,830 | -3.8% |
| Other operating charges | 640/8 | €17,801 | €15,527 | -€2,274 | -12.8% |
| Gross operating margin | 9900 | €127,892 | €116,082 | -€11,810 | -9.2% |
| Operating profit (loss) | 9901 | €36,484 | €29,778 | -€6,707 | -18.4% |
| Financial income | 75/76B | €2 | €177 | +€175 | +8,610% |
| Recurring financial income | 75 | €2 | €177 | +€175 | +8,610% |
| Financial charges | 65/66B | €15,619 | €13,457 | -€2,161 | -13.8% |
| Recurring financial charges | 65 | €15,619 | €13,457 | -€2,161 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €20,868 | €16,497 | -€4,371 | -20.9% |
| Transfer from deferred taxes | 780 | €6,638 | €5,509 | -€1,129 | -17.0% |
| Income taxes | 67/77 | €21,550 | €17,307 | -€4,243 | -19.7% |
| Profit (loss) for the period | 9904 | €5,956 | €4,699 | -€1,256 | -21.1% |
| Transfer from tax-exempt reserves | 789 | €19,915 | €16,528 | -€3,387 | -17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,871 | €21,228 | -€4,643 | -17.9% |
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 16 October 2026 via checked.be.