Dokter Bart VERBEKE: 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.
Dokter Bart VERBEKE
Largest movements
- Tangible fixed assets +€86,700
up €86,700 (+32.6%), from €266,230 to €352,930
of which Furniture and vehicles: +€101,424
- Cash -€18,783
down €18,783 (-13.2%), from €142,319 to €123,536
mainly Investment in fixed assets (net) (-€101,950) and Contributions, distributions and other (-€95,000)
- Other debts +€82,827
up €82,827 (+34.8%), from €238,100 to €320,927
- Trade debts -€14,409
down €14,409 (-87.3%), from €16,497 to €2,088
- Reserves -€13,300
down €13,300 (-3.6%), from €373,359 to €360,059
- Tax, wage and social debts +€8,129
up €8,129 (+112%), from €7,252 to €15,380
of which Taxes: +€8,574
- Gross operating margin +€26,699
up €26,699 (+17.2%), from €154,943 to €181,642
- Taxes +€11,156
up €11,156 (+46.2%), from €24,145 to €35,301
- Depreciation -€10,637
down €10,637 (-41.1%), from €25,887 to €15,250
- Financial income +€6,602
up €6,602 (+803%), from €822 to €7,424
- Staff costs +€5,702
up €5,702 (+11.7%), from €48,829 to €54,531
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 | €708,495 | €772,107 | +€63,612 | +9.0% |
| Fixed assets | 21/28 | €266,230 | €352,930 | +€86,700 | +32.6% |
| Tangible fixed assets | 22/27 | €266,230 | €352,930 | +€86,700 | +32.6% |
| Land and buildings | 22 | €257,405 | €244,726 | -€12,679 | -4.9% |
| Plant, machinery and equipment | 23 | €7,848 | €5,802 | -€2,046 | -26.1% |
| Furniture and vehicles | 24 | €977 | €102,401 | +€101,424 | +10,386% |
| Current assets | 29/58 | €442,265 | €419,177 | -€23,088 | -5.2% |
| Amounts receivable within one year | 40/41 | €10,828 | €5,910 | -€4,918 | -45.4% |
| Other amounts receivable | 41 | €10,828 | €5,910 | -€4,918 | -45.4% |
| Current investments | 50/53 | €285,293 | €285,793 | +€500 | +0.2% |
| Cash at bank and in hand | 54/58 | €142,319 | €123,536 | -€18,783 | -13.2% |
| Deferred charges and accrued income | 490/1 | €3,825 | €3,938 | +€113 | +2.9% |
| Total equity and liabilities | 10/49 | €708,495 | €772,107 | +€63,612 | +9.0% |
| Equity | 10/15 | €441,628 | €428,357 | -€13,271 | -3.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €373,359 | €360,059 | -€13,300 | -3.6% |
| Distributable reserves | 133 | €373,359 | €360,059 | -€13,300 | -3.6% |
| Profit (loss) carried forward | 14 | €55,869 | €55,898 | +€29 | +0.1% |
| Amounts payable | 17/49 | €266,867 | €343,749 | +€76,883 | +28.8% |
| Amounts payable within one year | 42/48 | €261,848 | €338,395 | +€76,547 | +29.2% |
| Trade debts | 44 | €16,497 | €2,088 | -€14,409 | -87.3% |
| Suppliers | 440/4 | €16,497 | €2,088 | -€14,409 | -87.3% |
| Taxes, remuneration and social security | 45 | €7,252 | €15,380 | +€8,129 | +112% |
| Taxes | 450/3 | - | €8,574 | +€8,574 | |
| Remuneration and social security | 454/9 | €7,252 | €6,807 | -€445 | -6.1% |
| Other amounts payable | 47/48 | €238,100 | €320,927 | +€82,827 | +34.8% |
| Accrued charges and deferred income | 492/3 | €5,019 | €5,355 | +€336 | +6.7% |
| Remuneration, social security and pensions | 62 | €48,829 | €54,531 | +€5,702 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,887 | €15,250 | -€10,637 | -41.1% |
| Other operating charges | 640/8 | €1,403 | €1,340 | -€62 | -4.4% |
| Gross operating margin | 9900 | €154,943 | €181,642 | +€26,699 | +17.2% |
| Operating profit (loss) | 9901 | €78,824 | €110,521 | +€31,697 | +40.2% |
| Financial income | 75/76B | €822 | €7,424 | +€6,602 | +803% |
| Recurring financial income | 75 | €822 | €7,424 | +€6,602 | +803% |
| Financial charges | 65/66B | €928 | €915 | -€13 | -1.4% |
| Recurring financial charges | 65 | €928 | €915 | -€13 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | €78,718 | €117,030 | +€38,312 | +48.7% |
| Income taxes | 67/77 | €24,145 | €35,301 | +€11,156 | +46.2% |
| Profit (loss) for the period | 9904 | €54,573 | €81,729 | +€27,156 | +49.8% |
| Profit (loss) for the period to be appropriated | 9905 | €54,573 | €81,729 | +€27,156 | +49.8% |
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 27 October 2026 via checked.be.