VREVAN: what changed
Two fiscal 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.
VREVAN
Largest movements
- Tangible fixed assets +€338,739
up €338,739 (+59.7%), from €567,178 to €905,918
of which Land and buildings: +€336,084
- Cash -€130,274
down €130,274 (-78.0%), from €166,925 to €36,651
mainly Investment in fixed assets (net) (-€379,885) and Net result for the year (-€39,890)
- Receivables within one year -€67,656
down €67,656 (-98.0%), from €69,069 to €1,413
of which Other amounts receivable: -€52,644
- Profit (loss) carried forward -€190,525
down €190,525 (-99.5%), from €191,409 to €885
- Debts after one year +€185,493
up €185,493 (+101.6%), from €182,598 to €368,091
- Reserves +€150,635
up €150,635 (+62.3%), from €241,644 to €392,279
of which Distributable reserves: +€155,000
- Gross operating margin -€113,398
down €113,398 (-91.5%), from €123,891 to €10,493
- Other operating charges -€15,994
down €15,994 (-95.8%), from €16,686 to €693
- Depreciation +€6,489
up €6,489 (+18.7%), from €34,657 to €41,146
- Taxes -€2,882
down €2,882, from €2,882 to -€0
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.
Cash bridge derived
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 | €803,173 | €947,832 | +€144,659 | +18.0% |
| Fixed assets | 21/28 | €567,178 | €905,918 | +€338,739 | +59.7% |
| Tangible fixed assets | 22/27 | €567,178 | €905,918 | +€338,739 | +59.7% |
| Land and buildings | 22 | €534,146 | €870,230 | +€336,084 | +62.9% |
| Plant, machinery and equipment | 23 | €3,731 | €7,681 | +€3,950 | +105.9% |
| Furniture and vehicles | 24 | €29,301 | €28,007 | -€1,295 | -4.4% |
| Current assets | 29/58 | €235,995 | €41,915 | -€194,080 | -82.2% |
| Amounts receivable within one year | 40/41 | €69,069 | €1,413 | -€67,656 | -98.0% |
| Trade receivables | 40 | €15,012 | - | -€15,012 | |
| Other amounts receivable | 41 | €54,057 | €1,413 | -€52,644 | -97.4% |
| Cash at bank and in hand | 54/58 | €166,925 | €36,651 | -€130,274 | -78.0% |
| Deferred charges and accrued income | 490/1 | - | €3,851 | +€3,851 | |
| Total equity and liabilities | 10/49 | €803,173 | €947,832 | +€144,659 | +18.0% |
| Equity | 10/15 | €495,027 | €455,137 | -€39,890 | -8.1% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €241,644 | €392,279 | +€150,635 | +62.3% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €235,447 | €231,082 | -€4,365 | -1.9% |
| Distributable reserves | 133 | - | €155,000 | +€155,000 | |
| Profit (loss) carried forward | 14 | €191,409 | €885 | -€190,525 | -99.5% |
| Provisions and deferred taxes | 16 | €85,334 | €83,573 | -€1,761 | -2.1% |
| Deferred taxes | 168 | €85,334 | €83,573 | -€1,761 | -2.1% |
| Amounts payable | 17/49 | €222,812 | €409,122 | +€186,311 | +83.6% |
| Amounts payable after more than one year | 17 | €182,598 | €368,091 | +€185,493 | +101.6% |
| Financial debts | 170/4 | €182,598 | €368,091 | +€185,493 | +101.6% |
| Amounts payable within one year | 42/48 | €40,213 | €41,031 | +€818 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €27,066 | €28,536 | +€1,470 | +5.4% |
| Trade debts | 44 | €3,963 | €925 | -€3,039 | -76.7% |
| Suppliers | 440/4 | €3,963 | €925 | -€3,039 | -76.7% |
| Taxes, remuneration and social security | 45 | €9,184 | €2,882 | -€6,302 | -68.6% |
| Taxes | 450/3 | €9,184 | €2,882 | -€6,302 | -68.6% |
| Other amounts payable | 47/48 | - | €8,689 | +€8,689 | |
| Non-recurring operating income | 76A | €64,056 | - | -€64,056 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,657 | €41,146 | +€6,489 | +18.7% |
| Other operating charges | 640/8 | €16,686 | €693 | -€15,994 | -95.8% |
| Non-recurring operating charges | 66A | - | €7,920 | +€7,920 | |
| Gross operating margin | 9900 | €123,891 | €10,493 | -€113,398 | -91.5% |
| Operating profit (loss) | 9901 | €72,548 | -€39,266 | -€111,814 | |
| Financial income | 75/76B | €1,954 | €1,455 | -€499 | -25.5% |
| Recurring financial income | 75 | €1,954 | €1,455 | -€499 | -25.5% |
| Financial charges | 65/66B | €4,111 | €3,841 | -€271 | -6.6% |
| Recurring financial charges | 65 | €4,111 | €3,841 | -€271 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €70,391 | -€41,651 | -€112,042 | |
| Transfer from deferred taxes | 780 | €1,035 | €1,761 | +€726 | +70.2% |
| Transfer to deferred taxes | 680 | €15,759 | - | -€15,759 | |
| Income taxes | 67/77 | €2,882 | -€0 | -€2,882 | |
| Profit (loss) for the period | 9904 | €52,785 | -€39,890 | -€92,675 | |
| Transfer from tax-exempt reserves | 789 | €2,187 | €4,365 | +€2,178 | +99.6% |
| Transfer to tax-exempt reserves | 689 | €47,278 | - | -€47,278 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,693 | -€35,525 | -€43,218 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.