DORINE VERHAERT: what changed
What changed
DORINE VERHAERT
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€33,789
2024 · €21,714+€12,074
Equity
€236,345
2024 · €202,557+€33,789
Cash
-
2024 · €749-€749
Balance sheet total
€1.2m
2024 · €1.2m-€12,863
Largest movements
Assets
- Tangible fixed assets -€21,785
down €21,785 (-4.8%), from €449,324 to €427,538
of which Land and buildings: -€20,185
Equity and liabilities
- Debts after one year -€76,440
down €76,440 (-16.3%), from €469,001 to €392,561
- Reserves +€33,789
up €33,789 (+17.2%), from €196,057 to €229,845
of which Distributable reserves: +€33,789
- Other debts +€15,500
up €15,500 (+3.4%), from €453,380 to €468,880
Income statement
- Gross operating margin +€14,886
up €14,886 (+19.6%), from €75,863 to €90,749
- Taxes +€5,752
up €5,752 (+56.8%), from €10,133 to €15,886
- Depreciation -€4,113
down €4,113 (-15.9%), from €25,898 to €21,785
- Other operating charges +€3,601
up €3,601 (+193%), from €1,869 to €5,470
- Financial charges -€2,647
down €2,647 (-16.1%), from €16,466 to €13,819
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€21,714
Gross operating margin
+€14,886
Depreciation
+€4,113
Other operating charges
-€3,601
Financial income
-€218
Financial charges
+€2,647
Taxes
-€5,752
Result 2025
€33,789
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€68,867
Investment
€0
Financing
-€69,617
Cash 2024
€749
From operations (derived)
+€68,867
Net result for the year
+€33,789
Depreciation
+€21,785
Receivables within one year
-€9,644
Deferred charges and accrued income
-€27
Trade debts
+€643
Tax, wage and social debts
+€7,029
Other debts
+€15,500
Accrued charges and deferred income
-€207
Financing
-€69,617
Debts after one year
-€76,440
Current portion of long-term debt
+€2,688
Short-term financial debts
+€4,135
Cash 2025
€0
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,227,834 | €1,214,971 | -€12,863 | -1.0% |
| Fixed assets | 21/28 | €1,049,324 | €1,027,538 | -€21,785 | -2.1% |
| Tangible fixed assets | 22/27 | €449,324 | €427,538 | -€21,785 | -4.8% |
| Land and buildings | 22 | €439,724 | €419,538 | -€20,185 | -4.6% |
| Plant, machinery and equipment | 23 | €9,600 | €8,000 | -€1,600 | -16.7% |
| Financial fixed assets | 28 | €600,000 | €600,000 | = | 0.0% |
| Current assets | 29/58 | €178,510 | €187,432 | +€8,922 | +5.0% |
| Amounts receivable within one year | 40/41 | €177,031 | €186,675 | +€9,644 | +5.4% |
| Trade receivables | 40 | €177,031 | €186,675 | +€9,644 | +5.4% |
| Current investments | 50/53 | €0 | €0 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €749 | - | -€749 | |
| Deferred charges and accrued income | 490/1 | €730 | €758 | +€27 | +3.8% |
| Total equity and liabilities | 10/49 | €1,227,834 | €1,214,971 | -€12,863 | -1.0% |
| Equity | 10/15 | €202,557 | €236,345 | +€33,789 | +16.7% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Contributions outside capital | 11 | €6,500 | €6,500 | = | 0.0% |
| Other | 1109/19 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €196,057 | €229,845 | +€33,789 | +17.2% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €194,202 | €227,990 | +€33,789 | +17.4% |
| Amounts payable | 17/49 | €1,025,277 | €978,625 | -€46,652 | -4.6% |
| Amounts payable after more than one year | 17 | €469,001 | €392,561 | -€76,440 | -16.3% |
| Financial debts | 170/4 | €469,001 | €392,561 | -€76,440 | -16.3% |
| Amounts payable within one year | 42/48 | €555,113 | €585,107 | +€29,995 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €78,827 | €81,515 | +€2,688 | +3.4% |
| Financial debts | 43 | - | €4,135 | +€4,135 | |
| Credit institutions | 430/8 | - | €4,135 | +€4,135 | |
| Trade debts | 44 | €20,334 | €20,977 | +€643 | +3.2% |
| Suppliers | 440/4 | €20,334 | €20,977 | +€643 | +3.2% |
| Taxes, remuneration and social security | 45 | €2,571 | €9,600 | +€7,029 | +273% |
| Taxes | 450/3 | €1,273 | €6,982 | +€5,709 | +448% |
| Remuneration and social security | 454/9 | €1,298 | €2,618 | +€1,320 | +102% |
| Other amounts payable | 47/48 | €453,380 | €468,880 | +€15,500 | +3.4% |
| Accrued charges and deferred income | 492/3 | €1,164 | €957 | -€207 | -17.8% |
| Non-recurring operating income | 76A | - | €2,076 | +€2,076 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,898 | €21,785 | -€4,113 | -15.9% |
| Other operating charges | 640/8 | €1,869 | €5,470 | +€3,601 | +193% |
| Gross operating margin | 9900 | €75,863 | €90,749 | +€14,886 | +19.6% |
| Operating profit (loss) | 9901 | €48,095 | €63,493 | +€15,398 | +32.0% |
| Financial income | 75/76B | €218 | - | -€218 | |
| Recurring financial income | 75 | €218 | - | -€218 | |
| Financial charges | 65/66B | €16,466 | €13,819 | -€2,647 | -16.1% |
| Recurring financial charges | 65 | €16,466 | €13,819 | -€2,647 | -16.1% |
| Profit (loss) for the period before taxes | 9903 | €31,848 | €49,674 | +€17,827 | +56.0% |
| Income taxes | 67/77 | €10,133 | €15,886 | +€5,752 | +56.8% |
| Profit (loss) for the period | 9904 | €21,714 | €33,789 | +€12,074 | +55.6% |
| Profit (loss) for the period to be appropriated | 9905 | €21,714 | €33,789 | +€12,074 | +55.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.