De Ware Verzekeraar: 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 Ware Verzekeraar
Largest movements
- Cash +€189,184
up €189,184 (+126%), from €150,599 to €339,783
mainly Current investments (+€74,621) and Depreciation (+€67,681)
- Current investments -€74,621
down €74,621 (-63.5%), from €117,503 to €42,882
- Tangible fixed assets -€63,341
down €63,341 (-4.2%), from €1.5m to €1.5m
of which Land and buildings: -€51,876
- Receivables within one year -€34,258
down €34,258 (-69.7%), from €49,136 to €14,878
of which Trade receivables: -€26,713
- Reserves +€60,156
up €60,156 (+4.2%), from €1.4m to €1.5m
- Debts after one year -€56,082
down €56,082 (-19.3%), from €290,897 to €234,815
- Staff costs -€54,513
down €54,513 (-19.9%), from €273,856 to €219,343
- Gross operating margin -€12,489
down €12,489 (-3.1%), from €407,151 to €394,662
- Taxes +€10,153
up €10,153 (+57.7%), from €17,595 to €27,748
- Financial charges +€5,553
up €5,553 (+108%), from €5,131 to €10,684
- Depreciation -€4,725
down €4,725 (-6.5%), from €72,406 to €67,681
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 | €1,843,899 | €1,861,016 | +€17,117 | +0.9% |
| Fixed assets | 21/28 | €1,516,469 | €1,452,213 | -€64,256 | -4.2% |
| Intangible fixed assets | 21 | €1,622 | €708 | -€914 | -56.4% |
| Tangible fixed assets | 22/27 | €1,514,847 | €1,451,505 | -€63,341 | -4.2% |
| Land and buildings | 22 | €1,468,568 | €1,416,692 | -€51,876 | -3.5% |
| Plant, machinery and equipment | 23 | €5,904 | €9,288 | +€3,384 | +57.3% |
| Furniture and vehicles | 24 | €40,375 | €25,526 | -€14,849 | -36.8% |
| Current assets | 29/58 | €327,431 | €408,803 | +€81,373 | +24.9% |
| Amounts receivable within one year | 40/41 | €49,136 | €14,878 | -€34,258 | -69.7% |
| Trade receivables | 40 | €36,730 | €10,018 | -€26,713 | -72.7% |
| Other amounts receivable | 41 | €12,406 | €4,861 | -€7,546 | -60.8% |
| Current investments | 50/53 | €117,503 | €42,882 | -€74,621 | -63.5% |
| Cash at bank and in hand | 54/58 | €150,599 | €339,783 | +€189,184 | +126% |
| Deferred charges and accrued income | 490/1 | €10,193 | €11,260 | +€1,068 | +10.5% |
| Total equity and liabilities | 10/49 | €1,843,899 | €1,861,016 | +€17,117 | +0.9% |
| Equity | 10/15 | €1,435,302 | €1,495,459 | +€60,156 | +4.2% |
| Contributions | 10/11 | €18,785 | €18,785 | = | 0.0% |
| Reserves | 13 | €1,416,518 | €1,476,674 | +€60,156 | +4.2% |
| Distributable reserves | 133 | €1,416,518 | €1,476,674 | +€60,156 | +4.2% |
| Amounts payable | 17/49 | €408,597 | €365,558 | -€43,039 | -10.5% |
| Amounts payable after more than one year | 17 | €290,897 | €234,815 | -€56,082 | -19.3% |
| Financial debts | 170/4 | €290,897 | €234,815 | -€56,082 | -19.3% |
| Amounts payable within one year | 42/48 | €116,550 | €128,911 | +€12,361 | +10.6% |
| Current portion of amounts payable after more than one year | 42 | €54,590 | €56,082 | +€1,492 | +2.7% |
| Trade debts | 44 | €6,092 | €21,245 | +€15,154 | +249% |
| Suppliers | 440/4 | €6,092 | €21,245 | +€15,154 | +249% |
| Taxes, remuneration and social security | 45 | €31,001 | €30,964 | -€37 | -0.1% |
| Remuneration and social security | 454/9 | €31,001 | €30,964 | -€37 | -0.1% |
| Other amounts payable | 47/48 | €24,867 | €20,619 | -€4,248 | -17.1% |
| Accrued charges and deferred income | 492/3 | €1,150 | €1,832 | +€682 | +59.3% |
| Non-recurring operating income | 76A | - | €2,272 | +€2,272 | |
| Remuneration, social security and pensions | 62 | €273,856 | €219,343 | -€54,513 | -19.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,406 | €67,681 | -€4,725 | -6.5% |
| Other operating charges | 640/8 | €7,002 | €11,054 | +€4,051 | +57.9% |
| Non-recurring operating charges | 66A | €207 | €0 | -€207 | -100% |
| Gross operating margin | 9900 | €407,151 | €394,662 | -€12,489 | -3.1% |
| Operating profit (loss) | 9901 | €53,680 | €96,585 | +€42,904 | +79.9% |
| Financial income | 75/76B | €418 | €2,003 | +€1,585 | +379% |
| Recurring financial income | 75 | €418 | €2,003 | +€1,585 | +379% |
| Financial charges | 65/66B | €5,131 | €10,684 | +€5,553 | +108% |
| Recurring financial charges | 65 | €5,131 | €10,684 | +€5,553 | +108% |
| Profit (loss) for the period before taxes | 9903 | €48,968 | €87,904 | +€38,937 | +79.5% |
| Income taxes | 67/77 | €17,595 | €27,748 | +€10,153 | +57.7% |
| Profit (loss) for the period | 9904 | €31,372 | €60,156 | +€28,784 | +91.8% |
| Profit (loss) for the period to be appropriated | 9905 | €31,372 | €60,156 | +€28,784 | +91.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.