Dirk Vernijns: 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.
Dirk Vernijns
Largest movements
- Receivables within one year -€12,418
down €12,418 (-25.6%), from €48,590 to €36,172
of which Trade receivables: -€9,288
- Tangible fixed assets -€9,911
down €9,911 (-5.8%), from €171,860 to €161,949
of which Land and buildings: -€16,271
- Cash +€7,214
up €7,214 (+4.5%), from €160,663 to €167,877
mainly Other debts (+€93,463) and Net result for the year (+€30,568)
- Reserves -€119,432
down €119,432 (-63.3%), from €188,754 to €69,322
- Other debts +€93,463
up €93,463 (+265%), from €35,295 to €128,759
- Tax, wage and social debts +€22,141
up €22,141 (+258%), from €8,577 to €30,718
of which Taxes: +€20,709
- Debts after one year -€16,233
down €16,233 (-13.3%), from €122,172 to €105,939
- Trade debts +€4,645
up €4,645 (+125%), from €3,729 to €8,374
- Gross operating margin +€58,736
up €58,736 (+125%), from €47,071 to €105,806
- Taxes +€11,660
up €11,660 (+8,121%), from €144 to €11,804
- Staff costs +€11,204
up €11,204 (+48.8%), from €22,961 to €34,166
- Financial charges -€2,694
down €2,694 (-47.4%), from €5,688 to €2,994
- Other operating charges +€1,293
up €1,293 (+96.2%), from €1,344 to €2,637
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 | €392,993 | €377,895 | -€15,098 | -3.8% |
| Fixed assets | 21/28 | €171,860 | €161,949 | -€9,911 | -5.8% |
| Tangible fixed assets | 22/27 | €171,860 | €161,949 | -€9,911 | -5.8% |
| Land and buildings | 22 | €163,641 | €147,370 | -€16,271 | -9.9% |
| Furniture and vehicles | 24 | €4,754 | €11,745 | +€6,991 | +147% |
| Other tangible fixed assets | 26 | €3,464 | €2,834 | -€630 | -18.2% |
| Current assets | 29/58 | €221,133 | €215,946 | -€5,187 | -2.3% |
| Amounts receivable within one year | 40/41 | €48,590 | €36,172 | -€12,418 | -25.6% |
| Trade receivables | 40 | €45,461 | €36,172 | -€9,288 | -20.4% |
| Other amounts receivable | 41 | €3,130 | - | -€3,130 | |
| Current investments | 50/53 | €10,000 | €10,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €160,663 | €167,877 | +€7,214 | +4.5% |
| Deferred charges and accrued income | 490/1 | €1,880 | €1,897 | +€17 | +0.9% |
| Total equity and liabilities | 10/49 | €392,993 | €377,895 | -€15,098 | -3.8% |
| Equity | 10/15 | €207,304 | €87,872 | -€119,432 | -57.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €188,754 | €69,322 | -€119,432 | -63.3% |
| Distributable reserves | 133 | €188,754 | €69,322 | -€119,432 | -63.3% |
| Amounts payable | 17/49 | €185,689 | €290,023 | +€104,334 | +56.2% |
| Amounts payable after more than one year | 17 | €122,172 | €105,939 | -€16,233 | -13.3% |
| Financial debts | 170/4 | €122,172 | €105,939 | -€16,233 | -13.3% |
| Amounts payable within one year | 42/48 | €63,518 | €184,084 | +€120,566 | +190% |
| Current portion of amounts payable after more than one year | 42 | €15,916 | €16,233 | +€316 | +2.0% |
| Trade debts | 44 | €3,729 | €8,374 | +€4,645 | +125% |
| Suppliers | 440/4 | €3,729 | €8,374 | +€4,645 | +125% |
| Taxes, remuneration and social security | 45 | €8,577 | €30,718 | +€22,141 | +258% |
| Taxes | 450/3 | €2,946 | €23,654 | +€20,709 | +703% |
| Remuneration and social security | 454/9 | €5,631 | €7,064 | +€1,433 | +25.4% |
| Other amounts payable | 47/48 | €35,295 | €128,759 | +€93,463 | +265% |
| Remuneration, social security and pensions | 62 | €22,961 | €34,166 | +€11,204 | +48.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,373 | €23,639 | -€734 | -3.0% |
| Other operating charges | 640/8 | €1,344 | €2,637 | +€1,293 | +96.2% |
| Gross operating margin | 9900 | €47,071 | €105,806 | +€58,736 | +125% |
| Operating profit (loss) | 9901 | -€1,608 | €45,364 | +€46,972 | |
| Financial income | 75/76B | €3 | €2 | -€1 | -38.8% |
| Recurring financial income | 75 | €3 | €2 | -€1 | -38.8% |
| Financial charges | 65/66B | €5,688 | €2,994 | -€2,694 | -47.4% |
| Recurring financial charges | 65 | €5,688 | €2,994 | -€2,694 | -47.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,292 | €42,372 | +€49,664 | |
| Income taxes | 67/77 | €144 | €11,804 | +€11,660 | +8,121% |
| Profit (loss) for the period | 9904 | -€7,436 | €30,568 | +€38,004 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,436 | €30,568 | +€38,004 |
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 23 October 2026 via checked.be.