De Verzekeraer: 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.
De Verzekeraer
Largest movements
- Intangible fixed assets -€151,171
down €151,171 (-6.5%), from €2.3m to €2.2m
- Cash -€146,747
down €146,747 (-24.0%), from €611,307 to €464,560
mainly Contributions, distributions and other (-€864,000) and Debts after one year (-€203,909)
- Tangible fixed assets -€66,110
down €66,110 (-2.8%), from €2.3m to €2.3m
of which Land and buildings: -€54,571
- Reserves -€434,938
down €434,938 (-27.3%), from €1.6m to €1.2m
of which Distributable reserves: -€434,938
- Other debts +€241,135
up €241,135 (+29.2%), from €825,205 to €1.1m
- Debts after one year -€203,909
down €203,909 (-8.6%), from €2.4m to €2.2m
- Current portion of long-term debt +€61,389
up €61,389 (+14.6%), from €419,337 to €480,727
- Gross operating margin +€92,275
up €92,275 (+6.4%), from €1.4m to €1.5m
- Staff costs +€75,123
up €75,123 (+16.7%), from €449,527 to €524,650
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 | €5,457,553 | €5,113,734 | -€343,819 | -6.3% |
| Fixed assets | 21/28 | €4,677,514 | €4,460,233 | -€217,281 | -4.6% |
| Intangible fixed assets | 21 | €2,330,018 | €2,178,847 | -€151,171 | -6.5% |
| Tangible fixed assets | 22/27 | €2,347,496 | €2,281,386 | -€66,110 | -2.8% |
| Land and buildings | 22 | €2,224,554 | €2,169,982 | -€54,571 | -2.5% |
| Plant, machinery and equipment | 23 | €88,079 | €74,402 | -€13,677 | -15.5% |
| Furniture and vehicles | 24 | €34,863 | €37,001 | +€2,138 | +6.1% |
| Current assets | 29/58 | €780,040 | €653,502 | -€126,538 | -16.2% |
| Amounts receivable within one year | 40/41 | €147,316 | €157,599 | +€10,283 | +7.0% |
| Trade receivables | 40 | €147,316 | €157,599 | +€10,283 | +7.0% |
| Cash at bank and in hand | 54/58 | €611,307 | €464,560 | -€146,747 | -24.0% |
| Deferred charges and accrued income | 490/1 | €21,417 | €31,343 | +€9,926 | +46.3% |
| Total equity and liabilities | 10/49 | €5,457,553 | €5,113,734 | -€343,819 | -6.3% |
| Equity | 10/15 | €1,653,615 | €1,218,677 | -€434,938 | -26.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €1,592,115 | €1,157,177 | -€434,938 | -27.3% |
| Non-distributable reserves | 130/1 | €19,600 | €19,600 | = | 0.0% |
| Legal reserve | 130 | €19,600 | €19,600 | = | 0.0% |
| Distributable reserves | 133 | €1,572,515 | €1,137,577 | -€434,938 | -27.7% |
| Amounts payable | 17/49 | €3,803,939 | €3,895,058 | +€91,119 | +2.4% |
| Amounts payable after more than one year | 17 | €2,357,493 | €2,153,585 | -€203,909 | -8.6% |
| Financial debts | 170/4 | €2,357,493 | €2,153,585 | -€203,909 | -8.6% |
| Amounts payable within one year | 42/48 | €1,429,263 | €1,717,784 | +€288,520 | +20.2% |
| Current portion of amounts payable after more than one year | 42 | €419,337 | €480,727 | +€61,389 | +14.6% |
| Financial debts | 43 | €16,897 | €16,897 | = | 0.0% |
| Credit institutions | 430/8 | €16,897 | €16,897 | = | 0.0% |
| Trade debts | 44 | €2,329 | €6,311 | +€3,982 | +171% |
| Suppliers | 440/4 | €2,329 | €6,311 | +€3,982 | +171% |
| Taxes, remuneration and social security | 45 | €165,495 | €147,509 | -€17,986 | -10.9% |
| Taxes | 450/3 | €117,038 | €91,739 | -€25,299 | -21.6% |
| Remuneration and social security | 454/9 | €48,457 | €55,770 | +€7,313 | +15.1% |
| Other amounts payable | 47/48 | €825,205 | €1,066,340 | +€241,135 | +29.2% |
| Accrued charges and deferred income | 492/3 | €17,182 | €23,689 | +€6,507 | +37.9% |
| Remuneration, social security and pensions | 62 | €449,527 | €524,650 | +€75,123 | +16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €224,654 | €236,682 | +€12,029 | +5.4% |
| Other operating charges | 640/8 | €11,287 | €12,303 | +€1,017 | +9.0% |
| Gross operating margin | 9900 | €1,435,032 | €1,527,308 | +€92,275 | +6.4% |
| Operating profit (loss) | 9901 | €749,565 | €753,672 | +€4,108 | +0.5% |
| Financial income | 75/76B | - | €205 | +€205 | |
| Recurring financial income | 75 | - | €205 | +€205 | |
| Financial charges | 65/66B | €103,509 | €118,228 | +€14,719 | +14.2% |
| Recurring financial charges | 65 | €103,509 | €118,228 | +€14,719 | +14.2% |
| Profit (loss) for the period before taxes | 9903 | €646,056 | €635,649 | -€10,407 | -1.6% |
| Income taxes | 67/77 | €209,758 | €206,586 | -€3,172 | -1.5% |
| Profit (loss) for the period | 9904 | €436,297 | €429,062 | -€7,235 | -1.7% |
| Profit (loss) for the period to be appropriated | 9905 | €436,297 | €429,062 | -€7,235 | -1.7% |
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 30 October 2026 via checked.be.