VREYS MARC: what changed
VREYS MARC
Largest movements
- Tangible fixed assets +€377,266
up €377,266 (+42.9%), from €880,262 to €1.3m
of which Land and buildings: +€376,855
- Receivables within one year -€294,453
down €294,453 (-72.9%), from €403,929 to €109,476
of which Trade receivables: -€400,000
- Deferred charges and accrued income -€238,342
down €238,342 (-100%), from €238,342 to €0
- Cash +€118,601
up €118,601 (+262%), from €45,241 to €163,841
mainly Receivables within one year (+€294,453) and Net result for the year (+€270,607)
- Other debts -€274,510
down €274,510 (-100%), from €274,510 to €0
- Reserves +€270,607
up €270,607 (+25.2%), from €1.1m to €1.3m
- Debts after one year -€37,852
down €37,852 (-17.7%), from €214,248 to €176,396
- Tax, wage and social debts +€20,848
up €20,848 (+927%), from €2,250 to €23,098
- Gross operating margin +€30,292
up €30,292 (+8.0%), from €378,077 to €408,369
- Depreciation -€16,356
down €16,356 (-35.1%), from €46,561 to €30,205
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 | €1,637,662 | €1,600,734 | -€36,928 | -2.3% |
| Fixed assets | 21/28 | €950,151 | €1,327,417 | +€377,266 | +39.7% |
| Tangible fixed assets | 22/27 | €880,262 | €1,257,528 | +€377,266 | +42.9% |
| Land and buildings | 22 | €873,854 | €1,250,710 | +€376,855 | +43.1% |
| Plant, machinery and equipment | 23 | €4,279 | €6,285 | +€2,005 | +46.9% |
| Furniture and vehicles | 24 | €1,177 | €58 | -€1,119 | -95.1% |
| Other tangible fixed assets | 26 | €951 | €475 | -€475 | -50.0% |
| Financial fixed assets | 28 | €69,889 | €69,889 | = | 0.0% |
| Current assets | 29/58 | €687,511 | €273,317 | -€414,194 | -60.2% |
| Amounts receivable within one year | 40/41 | €403,929 | €109,476 | -€294,453 | -72.9% |
| Trade receivables | 40 | €400,000 | €0 | -€400,000 | -100% |
| Other amounts receivable | 41 | €3,929 | €109,476 | +€105,547 | +2,687% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €45,241 | €163,841 | +€118,601 | +262% |
| Deferred charges and accrued income | 490/1 | €238,342 | €0 | -€238,342 | -100% |
| Total equity and liabilities | 10/49 | €1,637,662 | €1,600,734 | -€36,928 | -2.3% |
| Equity | 10/15 | €1,091,097 | €1,361,704 | +€270,607 | +24.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,072,497 | €1,343,104 | +€270,607 | +25.2% |
| Distributable reserves | 133 | €1,072,497 | €1,343,104 | +€270,607 | +25.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €546,565 | €239,030 | -€307,535 | -56.3% |
| Amounts payable after more than one year | 17 | €214,248 | €176,396 | -€37,852 | -17.7% |
| Financial debts | 170/4 | €214,248 | €176,396 | -€37,852 | -17.7% |
| Amounts payable within one year | 42/48 | €332,317 | €62,634 | -€269,683 | -81.2% |
| Current portion of amounts payable after more than one year | 42 | €50,871 | €37,852 | -€13,019 | -25.6% |
| Trade debts | 44 | €4,687 | €1,684 | -€3,003 | -64.1% |
| Suppliers | 440/4 | €4,687 | €1,684 | -€3,003 | -64.1% |
| Taxes, remuneration and social security | 45 | €2,250 | €23,098 | +€20,848 | +927% |
| Taxes | 450/3 | €2,250 | €23,098 | +€20,848 | +927% |
| Other amounts payable | 47/48 | €274,510 | €0 | -€274,510 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,561 | €30,205 | -€16,356 | -35.1% |
| Other operating charges | 640/8 | €7,231 | €7,649 | +€418 | +5.8% |
| Gross operating margin | 9900 | €378,077 | €408,369 | +€30,292 | +8.0% |
| Operating profit (loss) | 9901 | €324,285 | €370,515 | +€46,230 | +14.3% |
| Financial income | 75/76B | €3,694 | €0 | -€3,694 | -100% |
| Recurring financial income | 75 | €3,694 | €0 | -€3,694 | -100% |
| Financial charges | 65/66B | €7,206 | €6,809 | -€397 | -5.5% |
| Recurring financial charges | 65 | €7,206 | €6,809 | -€397 | -5.5% |
| Profit (loss) for the period before taxes | 9903 | €320,772 | €363,706 | +€42,933 | +13.4% |
| Income taxes | 67/77 | €97,180 | €93,098 | -€4,081 | -4.2% |
| Profit (loss) for the period | 9904 | €223,593 | €270,607 | +€47,015 | +21.0% |
| Profit (loss) for the period to be appropriated | 9905 | €223,593 | €270,607 | +€47,015 | +21.0% |
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 3 November 2026 via checked.be.