Ann Verbeeck: 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.
Ann Verbeeck
Largest movements
- Cash -€79,366
down €79,366 (-45.5%), from €174,540 to €95,174
mainly Investment in fixed assets (net) (-€83,268) and Tax, wage and social debts (-€7,728)
- Tangible fixed assets +€77,744
up €77,744 (+31.5%), from €246,932 to €324,676
of which Land and buildings: +€83,269
- Tax, wage and social debts -€7,728
down €7,728 (-73.3%), from €10,540 to €2,812
of which Taxes: -€7,836
- Gross operating margin -€22,930
down €22,930 (-67.5%), from €33,980 to €11,050
- Taxes -€5,947
down €5,947 (-66.5%), from €8,947 to €3,000
- Financial income -€1,677
down €1,677 (-85.1%), from €1,970 to €293
- Other operating charges -€549
down €549 (-24.2%), from €2,266 to €1,717
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 | €422,525 | €419,850 | -€2,675 | -0.6% |
| Fixed assets | 21/28 | €246,932 | €324,676 | +€77,744 | +31.5% |
| Tangible fixed assets | 22/27 | €246,932 | €324,676 | +€77,744 | +31.5% |
| Land and buildings | 22 | €229,207 | €312,476 | +€83,269 | +36.3% |
| Plant, machinery and equipment | 23 | €3,710 | €2,359 | -€1,351 | -36.4% |
| Furniture and vehicles | 24 | €14,014 | €9,841 | -€4,173 | -29.8% |
| Current assets | 29/58 | €175,593 | €95,174 | -€80,419 | -45.8% |
| Amounts receivable within one year | 40/41 | €1,053 | - | -€1,053 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €1,053 | - | -€1,053 | |
| Cash at bank and in hand | 54/58 | €174,540 | €95,174 | -€79,366 | -45.5% |
| Total equity and liabilities | 10/49 | €422,525 | €419,850 | -€2,675 | -0.6% |
| Equity | 10/15 | €407,209 | €408,262 | +€1,053 | +0.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €401,009 | €402,062 | +€1,053 | +0.3% |
| Distributable reserves | 133 | €401,009 | €402,062 | +€1,053 | +0.3% |
| Amounts payable | 17/49 | €15,316 | €11,588 | -€3,728 | -24.3% |
| Amounts payable within one year | 42/48 | €15,316 | €9,035 | -€6,281 | -41.0% |
| Trade debts | 44 | - | €1,447 | +€1,447 | |
| Suppliers | 440/4 | - | €1,447 | +€1,447 | |
| Taxes, remuneration and social security | 45 | €10,540 | €2,812 | -€7,728 | -73.3% |
| Taxes | 450/3 | €10,540 | €2,704 | -€7,836 | -74.3% |
| Remuneration and social security | 454/9 | - | €108 | +€108 | |
| Other amounts payable | 47/48 | €4,776 | €4,776 | +€0 | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €2,553 | +€2,553 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,279 | €5,524 | +€245 | +4.6% |
| Other operating charges | 640/8 | €2,266 | €1,717 | -€549 | -24.2% |
| Gross operating margin | 9900 | €33,980 | €11,050 | -€22,930 | -67.5% |
| Operating profit (loss) | 9901 | €26,434 | €3,809 | -€22,625 | -85.6% |
| Financial income | 75/76B | €1,970 | €293 | -€1,677 | -85.1% |
| Recurring financial income | 75 | €1,970 | €293 | -€1,677 | -85.1% |
| Financial charges | 65/66B | €88 | €49 | -€39 | -44.3% |
| Recurring financial charges | 65 | €88 | €49 | -€39 | -44.3% |
| Profit (loss) for the period before taxes | 9903 | €28,316 | €4,053 | -€24,263 | -85.7% |
| Income taxes | 67/77 | €8,947 | €3,000 | -€5,947 | -66.5% |
| Profit (loss) for the period | 9904 | €19,369 | €1,053 | -€18,316 | -94.6% |
| Profit (loss) for the period to be appropriated | 9905 | €19,369 | €1,053 | -€18,316 | -94.6% |
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 18 October 2026 via checked.be.