DIRK VERSCHUEREN: 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 VERSCHUEREN
Largest movements
- Current investments +€430,288
new in 2025: €430,288
- Tangible fixed assets -€215,891
down €215,891 (-87.6%), from €246,558 to €30,667
of which Land and buildings: -€197,225
- Receivables within one year -€85,330
down €85,330 (-83.7%), from €101,988 to €16,658
of which Other amounts receivable: -€86,577
- Cash +€23,359
up €23,359 (+23.2%), from €100,763 to €124,122
mainly Net result for the year (+€248,389) and Investment in fixed assets (net) (+€204,466)
- Reserves +€95,901
up €95,901 (+19.7%), from €487,980 to €583,881
- Profit (loss) carried forward +€54,988
no longer reported in 2025 (was -€54,988)
- Gross operating margin +€299,172
up €299,172 (+1,179%), from €25,371 to €324,543
- Taxes +€92,649
up €92,649 (+43,316%), from €214 to €92,862
- Depreciation -€21,753
down €21,753 (-65.4%), from €33,253 to €11,500
- Financial income +€15,377
up €15,377 (+95.3%), from €16,129 to €31,506
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 | €452,686 | €603,527 | +€150,842 | +33.3% |
| Fixed assets | 21/28 | €246,632 | €30,667 | -€215,966 | -87.6% |
| Tangible fixed assets | 22/27 | €246,558 | €30,667 | -€215,891 | -87.6% |
| Land and buildings | 22 | €197,225 | - | -€197,225 | |
| Plant, machinery and equipment | 23 | €7,166 | - | -€7,166 | |
| Furniture and vehicles | 24 | €42,167 | €30,667 | -€11,500 | -27.3% |
| Financial fixed assets | 28 | €74 | - | -€74 | |
| Current assets | 29/58 | €206,053 | €572,861 | +€366,808 | +178% |
| Amounts receivable within one year | 40/41 | €101,988 | €16,658 | -€85,330 | -83.7% |
| Trade receivables | 40 | €6,670 | €7,917 | +€1,247 | +18.7% |
| Other amounts receivable | 41 | €95,318 | €8,741 | -€86,577 | -90.8% |
| Current investments | 50/53 | - | €430,288 | +€430,288 | |
| Cash at bank and in hand | 54/58 | €100,763 | €124,122 | +€23,359 | +23.2% |
| Deferred charges and accrued income | 490/1 | €3,302 | €1,793 | -€1,509 | -45.7% |
| Total equity and liabilities | 10/49 | €452,686 | €603,527 | +€150,842 | +33.3% |
| Equity | 10/15 | €451,992 | €602,881 | +€150,889 | +33.4% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €487,980 | €583,881 | +€95,901 | +19.7% |
| Distributable reserves | 133 | €487,980 | €583,881 | +€95,901 | +19.7% |
| Profit (loss) carried forward | 14 | -€54,988 | - | +€54,988 | |
| Amounts payable | 17/49 | €694 | €647 | -€47 | -6.8% |
| Amounts payable within one year | 42/48 | €694 | €647 | -€47 | -6.8% |
| Trade debts | 44 | €694 | €647 | -€47 | -6.8% |
| Suppliers | 440/4 | €694 | €647 | -€47 | -6.8% |
| Non-recurring operating income | 76A | - | €315,609 | +€315,609 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,253 | €11,500 | -€21,753 | -65.4% |
| Other operating charges | 640/8 | €3,134 | €1,415 | -€1,719 | -54.9% |
| Gross operating margin | 9900 | €25,371 | €324,543 | +€299,172 | +1,179% |
| Operating profit (loss) | 9901 | -€11,015 | €311,628 | +€322,644 | |
| Financial income | 75/76B | €16,129 | €31,506 | +€15,377 | +95.3% |
| Recurring financial income | 75 | €16,129 | €31,506 | +€15,377 | +95.3% |
| Financial charges | 65/66B | €115 | €1,883 | +€1,768 | +1,537% |
| Recurring financial charges | 65 | €115 | €1,883 | +€1,768 | +1,537% |
| Profit (loss) for the period before taxes | 9903 | €4,999 | €341,251 | +€336,253 | +6,727% |
| Income taxes | 67/77 | €214 | €92,862 | +€92,649 | +43,316% |
| Profit (loss) for the period | 9904 | €4,785 | €248,389 | +€243,604 | +5,091% |
| Profit (loss) for the period to be appropriated | 9905 | €4,785 | €248,389 | +€243,604 | +5,091% |
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 16 October 2026 via checked.be.