DR. G. VEEREMAN: what changed
DR. G. VEEREMAN
Largest movements
- Tangible fixed assets -€40,988
down €40,988 (-8.5%), from €484,849 to €443,860
of which Land and buildings: -€39,112
- Receivables within one year -€20,529
down €20,529 (-99.0%), from €20,746 to €218
- Cash -€15,555
down €15,555 (-92.4%), from €16,838 to €1,283
mainly Other debts (-€37,018) and Net result for the year (-€24,795)
- Other debts -€37,018
down €37,018 (-3.7%), from €1.0m to €971,468
- Profit (loss) carried forward -€24,795
down €24,795 (-4.8%), from -€511,772 to -€536,567
- Trade debts -€14,689
down €14,689 (-96.1%), from €15,277 to €588
- Gross operating margin +€10,584
up €10,584 (+123%), from €8,584 to €19,168
- Depreciation -€4,201
down €4,201 (-9.3%), from €45,190 to €40,988
- Other operating charges +€494
up €494 (+20.4%), from €2,424 to €2,918
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €567,940 | €490,868 | -€77,072 | -13.6% |
| Fixed assets | 21/28 | €484,849 | €443,860 | -€40,988 | -8.5% |
| Tangible fixed assets | 22/27 | €484,849 | €443,860 | -€40,988 | -8.5% |
| Land and buildings | 22 | €461,696 | €422,585 | -€39,112 | -8.5% |
| Plant, machinery and equipment | 23 | €18,572 | €18,525 | -€47 | -0.3% |
| Furniture and vehicles | 24 | €4,581 | €2,751 | -€1,830 | -40.0% |
| Current assets | 29/58 | €83,091 | €47,007 | -€36,084 | -43.4% |
| Amounts receivable within one year | 40/41 | €20,746 | €218 | -€20,529 | -99.0% |
| Trade receivables | 40 | €20,746 | €218 | -€20,529 | -99.0% |
| Current investments | 50/53 | €45,506 | €45,506 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €16,838 | €1,283 | -€15,555 | -92.4% |
| Total equity and liabilities | 10/49 | €567,940 | €490,868 | -€77,072 | -13.6% |
| Equity | 10/15 | -€491,313 | -€516,107 | -€24,795 | -5.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€511,772 | -€536,567 | -€24,795 | -4.8% |
| Amounts payable | 17/49 | €1,059,253 | €1,006,975 | -€52,278 | -4.9% |
| Amounts payable after more than one year | 17 | €31,000 | €31,000 | = | 0.0% |
| Financial debts | 170/4 | €30,000 | €30,000 | = | 0.0% |
| Other amounts payable | 178/9 | €1,000 | €1,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,023,763 | €972,056 | -€51,707 | -5.1% |
| Trade debts | 44 | €15,277 | €588 | -€14,689 | -96.1% |
| Suppliers | 440/4 | €15,277 | €588 | -€14,689 | -96.1% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,008,486 | €971,468 | -€37,018 | -3.7% |
| Accrued charges and deferred income | 492/3 | €4,490 | €3,919 | -€571 | -12.7% |
| Non-recurring operating income | 76A | €917 | €7,662 | +€6,745 | +736% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,190 | €40,988 | -€4,201 | -9.3% |
| Other operating charges | 640/8 | €2,424 | €2,918 | +€494 | +20.4% |
| Gross operating margin | 9900 | €8,584 | €19,168 | +€10,584 | +123% |
| Operating profit (loss) | 9901 | -€39,029 | -€24,738 | +€14,291 | +36.6% |
| Financial income | 75/76B | - | €134 | +€134 | |
| Recurring financial income | 75 | - | €134 | +€134 | |
| Financial charges | 65/66B | €201 | €191 | -€10 | -4.9% |
| Recurring financial charges | 65 | €201 | €191 | -€10 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | -€39,230 | -€24,795 | +€14,435 | +36.8% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€39,230 | -€24,795 | +€14,435 | +36.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,230 | -€24,795 | +€14,435 | +36.8% |
Next steps
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 2 November 2026 via checked.be.