ALEX VERVAET: 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.
ALEX VERVAET
Largest movements
- Cash +€364
up €364 (+18.8%), from €1,932 to €2,296
mainly Debts after one year (+€53,424) and Trade debts (+€1,837)
- Receivables within one year +€83
up €83 (+10.2%), from €810 to €893
- Profit (loss) carried forward -€54,814
down €54,814 (-7.6%), from -€718,190 to -€773,004
- Debts after one year +€53,424
up €53,424 (+13.6%), from €393,675 to €447,099
- Trade debts +€1,837
up €1,837 (+231%), from €794 to €2,631
- Gross operating margin -€11,819
down €11,819 (-27.5%), from -€42,957 to -€54,776
- Purchases and services +€11,819
up €11,819 (+27.5%), from €42,957 to €54,776
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 | €2,742 | €3,189 | +€447 | +16.3% |
| Current assets | 29/58 | €2,742 | €3,189 | +€447 | +16.3% |
| Amounts receivable within one year | 40/41 | €810 | €893 | +€83 | +10.2% |
| Other amounts receivable | 41 | €810 | €893 | +€83 | +10.2% |
| Cash at bank and in hand | 54/58 | €1,932 | €2,296 | +€364 | +18.8% |
| Total equity and liabilities | 10/49 | €2,742 | €3,189 | +€447 | +16.3% |
| Equity | 10/15 | -€621,543 | -€676,357 | -€54,814 | -8.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €84,247 | €84,247 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €82,387 | €82,387 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€718,190 | -€773,004 | -€54,814 | -7.6% |
| Provisions and deferred taxes | 16 | €227,890 | €227,890 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €227,890 | €227,890 | = | 0.0% |
| Other liabilities and charges | 164/5 | €227,890 | €227,890 | = | 0.0% |
| Amounts payable | 17/49 | €396,395 | €451,656 | +€55,261 | +13.9% |
| Amounts payable after more than one year | 17 | €393,675 | €447,099 | +€53,424 | +13.6% |
| Other amounts payable | 178/9 | €393,675 | €447,099 | +€53,424 | +13.6% |
| Amounts payable within one year | 42/48 | €2,720 | €4,557 | +€1,837 | +67.5% |
| Trade debts | 44 | €794 | €2,631 | +€1,837 | +231% |
| Suppliers | 440/4 | €794 | €2,631 | +€1,837 | +231% |
| Other amounts payable | 47/48 | €1,926 | €1,926 | = | 0.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €42,957 | €54,776 | +€11,819 | +27.5% |
| Gross operating margin | 9900 | -€42,957 | -€54,776 | -€11,819 | -27.5% |
| Operating profit (loss) | 9901 | -€42,957 | -€54,776 | -€11,819 | -27.5% |
| Financial charges | 65/66B | €39 | €38 | -€1 | -2.6% |
| Recurring financial charges | 65 | €39 | €38 | -€1 | -2.6% |
| Profit (loss) for the period before taxes | 9903 | -€42,996 | -€54,814 | -€11,818 | -27.5% |
| Profit (loss) for the period | 9904 | -€42,996 | -€54,814 | -€11,818 | -27.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€42,996 | -€54,814 | -€11,818 | -27.5% |
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.