C. Verfaillie: 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.
C. Verfaillie
Largest movements
- Cash +€690,322
up €690,322 (+47.3%), from €1.5m to €2.2m
mainly Other debts (+€2.1m) and Net result for the year (+€646,770)
- Current investments -€500,000
down €500,000 (-100%), from €500,000 to €0
- Receivables within one year +€25,000
new in 2025: €25,000
- Other debts +€2.1m
up €2.1m (+20,365%), from €10,147 to €2.1m
- Reserves -€1.8m
down €1.8m (-100%), from €1.8m to €0
- Tax, wage and social debts -€85,448
down €85,448 (-45.4%), from €188,216 to €102,768
- Gross operating margin +€89,469
up €89,469 (+11.8%), from €755,876 to €845,345
- Taxes +€27,440
up €27,440 (+15.0%), from €182,760 to €210,200
- Financial income +€24,900
up €24,900 (+4,643%), from €536 to €25,437
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 | €1,978,025 | €2,186,463 | +€208,438 | +10.5% |
| Fixed assets | 21/28 | €16,849 | €9,970 | -€6,879 | -40.8% |
| Tangible fixed assets | 22/27 | €16,849 | €9,970 | -€6,879 | -40.8% |
| Plant, machinery and equipment | 23 | €835 | €175 | -€660 | -79.0% |
| Furniture and vehicles | 24 | €16,014 | €9,795 | -€6,219 | -38.8% |
| Current assets | 29/58 | €1,961,176 | €2,176,493 | +€215,317 | +11.0% |
| Amounts receivable within one year | 40/41 | - | €25,000 | +€25,000 | |
| Other amounts receivable | 41 | - | €25,000 | +€25,000 | |
| Current investments | 50/53 | €500,000 | €0 | -€500,000 | -100% |
| Cash at bank and in hand | 54/58 | €1,459,977 | €2,150,299 | +€690,322 | +47.3% |
| Deferred charges and accrued income | 490/1 | €1,199 | €1,195 | -€5 | -0.4% |
| Total equity and liabilities | 10/49 | €1,978,025 | €2,186,463 | +€208,438 | +10.5% |
| Equity | 10/15 | €1,779,050 | €1,000 | -€1.8m | -99.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €1,778,050 | €0 | -€1.8m | -100% |
| Distributable reserves | 133 | €1,778,050 | €0 | -€1.8m | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €198,975 | €2,185,463 | +€2.0m | +998% |
| Amounts payable within one year | 42/48 | €198,373 | €2,180,263 | +€2.0m | +999% |
| Financial debts | 43 | €10 | €900 | +€890 | +8,909% |
| Credit institutions | 430/8 | €10 | €900 | +€890 | +8,909% |
| Taxes, remuneration and social security | 45 | €188,216 | €102,768 | -€85,448 | -45.4% |
| Taxes | 450/3 | €188,216 | €102,768 | -€85,448 | -45.4% |
| Other amounts payable | 47/48 | €10,147 | €2,076,595 | +€2.1m | +20,365% |
| Accrued charges and deferred income | 492/3 | €602 | €5,200 | +€4,598 | +764% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,879 | €6,879 | = | 0.0% |
| Other operating charges | 640/8 | €1,646 | €1,606 | -€40 | -2.4% |
| Gross operating margin | 9900 | €755,876 | €845,345 | +€89,469 | +11.8% |
| Operating profit (loss) | 9901 | €747,351 | €836,859 | +€89,509 | +12.0% |
| Financial income | 75/76B | €536 | €25,437 | +€24,900 | +4,643% |
| Recurring financial income | 75 | €536 | €25,437 | +€24,900 | +4,643% |
| Financial charges | 65/66B | €754 | €5,326 | +€4,572 | +606% |
| Recurring financial charges | 65 | €754 | €5,326 | +€4,572 | +606% |
| Profit (loss) for the period before taxes | 9903 | €747,133 | €856,970 | +€109,837 | +14.7% |
| Income taxes | 67/77 | €182,760 | €210,200 | +€27,440 | +15.0% |
| Profit (loss) for the period | 9904 | €564,373 | €646,770 | +€82,397 | +14.6% |
| Profit (loss) for the period to be appropriated | 9905 | €564,373 | €646,770 | +€82,397 | +14.6% |
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 22 October 2026 via checked.be.