Ann Verbist: 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 Verbist
Largest movements
- Current investments +€168,783
up €168,783 (+11.3%), from €1.5m to €1.7m
- Cash -€69,664
down €69,664 (-29.1%), from €239,364 to €169,700
mainly Contributions, distributions and other (-€835,150) and Current investments (-€168,783)
- Other debts +€564,923
up €564,923 (+1,624%), from €34,784 to €599,707
- Reserves -€487,050
down €487,050 (-23.9%), from €2.0m to €1.5m
of which Distributable reserves: -€487,050
- Financial income -€54,028
down €54,028 (-33.6%), from €160,753 to €106,726
- Financial charges +€31,593
up €31,593 (+1,221%), from €2,588 to €34,180
- Taxes -€7,590
down €7,590 (-5.1%), from €148,051 to €140,461
- Gross operating margin +€5,410
up €5,410 (+1.3%), from €425,399 to €430,809
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 | €2,121,802 | €2,207,431 | +€85,629 | +4.0% |
| Fixed assets | 21/28 | €228,858 | €217,606 | -€11,252 | -4.9% |
| Tangible fixed assets | 22/27 | €228,858 | €217,606 | -€11,252 | -4.9% |
| Land and buildings | 22 | €218,783 | €208,053 | -€10,731 | -4.9% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €10,075 | €9,553 | -€522 | -5.2% |
| Current assets | 29/58 | €1,892,944 | €1,989,825 | +€96,882 | +5.1% |
| Amounts receivable within one year | 40/41 | €150,993 | €147,097 | -€3,896 | -2.6% |
| Trade receivables | 40 | €150,993 | €147,097 | -€3,896 | -2.6% |
| Current investments | 50/53 | €1,493,180 | €1,661,963 | +€168,783 | +11.3% |
| Cash at bank and in hand | 54/58 | €239,364 | €169,700 | -€69,664 | -29.1% |
| Deferred charges and accrued income | 490/1 | €9,407 | €11,065 | +€1,659 | +17.6% |
| Total equity and liabilities | 10/49 | €2,121,802 | €2,207,431 | +€85,629 | +4.0% |
| Equity | 10/15 | €2,046,787 | €1,559,826 | -€486,962 | -23.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,033,903 | €1,546,853 | -€487,050 | -23.9% |
| Tax-exempt reserves | 132 | €78 | €78 | = | 0.0% |
| Distributable reserves | 133 | €2,033,825 | €1,546,775 | -€487,050 | -23.9% |
| Profit (loss) carried forward | 14 | €484 | €573 | +€88 | +18.2% |
| Amounts payable | 17/49 | €75,014 | €647,605 | +€572,591 | +763% |
| Amounts payable within one year | 42/48 | €70,855 | €641,556 | +€570,702 | +805% |
| Trade debts | 44 | €2,589 | €1,523 | -€1,066 | -41.2% |
| Suppliers | 440/4 | €2,589 | €1,523 | -€1,066 | -41.2% |
| Taxes, remuneration and social security | 45 | €33,481 | €40,326 | +€6,845 | +20.4% |
| Taxes | 450/3 | €33,481 | €40,326 | +€6,845 | +20.4% |
| Other amounts payable | 47/48 | €34,784 | €599,707 | +€564,923 | +1,624% |
| Accrued charges and deferred income | 492/3 | €4,160 | €6,049 | +€1,890 | +45.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,386 | €11,252 | -€133 | -1.2% |
| Other operating charges | 640/8 | €3,178 | €3,453 | +€276 | +8.7% |
| Gross operating margin | 9900 | €425,399 | €430,809 | +€5,410 | +1.3% |
| Operating profit (loss) | 9901 | €410,836 | €416,103 | +€5,268 | +1.3% |
| Financial income | 75/76B | €160,753 | €106,726 | -€54,028 | -33.6% |
| Recurring financial income | 75 | €160,753 | €106,726 | -€54,028 | -33.6% |
| Financial charges | 65/66B | €2,588 | €34,180 | +€31,593 | +1,221% |
| Recurring financial charges | 65 | €2,588 | €34,180 | +€31,593 | +1,221% |
| Profit (loss) for the period before taxes | 9903 | €569,001 | €488,649 | -€80,353 | -14.1% |
| Income taxes | 67/77 | €148,051 | €140,461 | -€7,590 | -5.1% |
| Profit (loss) for the period | 9904 | €420,950 | €348,188 | -€72,762 | -17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €420,950 | €348,188 | -€72,762 | -17.3% |
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 19 October 2026 via checked.be.