DR. J. VERKENS: 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.
DR. J. VERKENS
Largest movements
- Cash +€58,006
up €58,006 (+87.0%), from €66,689 to €124,695
mainly Net result for the year (+€74,940) and Depreciation (+€47,029)
- Tangible fixed assets -€47,029
down €47,029 (-8.8%), from €534,177 to €487,149
of which Land and buildings: -€25,655
- Reserves +€64,340
up €64,340 (+25.8%), from €249,152 to €313,492
- Debts after one year -€31,244
down €31,244 (-15.8%), from €197,484 to €166,240
- Other debts -€8,092
down €8,092 (-12.1%), from €66,684 to €58,592
- Accrued charges and deferred income -€6,666
down €6,666 (-69.0%), from €9,666 to €3,000
- Gross operating margin +€11,662
up €11,662 (+7.5%), from €155,485 to €167,147
- Financial charges -€7,206
down €7,206 (-45.2%), from €15,936 to €8,730
- Taxes +€5,329
up €5,329 (+20.9%), from €25,505 to €30,834
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 | €604,444 | €621,217 | +€16,773 | +2.8% |
| Fixed assets | 21/28 | €534,177 | €487,149 | -€47,029 | -8.8% |
| Tangible fixed assets | 22/27 | €534,177 | €487,149 | -€47,029 | -8.8% |
| Land and buildings | 22 | €356,545 | €330,890 | -€25,655 | -7.2% |
| Plant, machinery and equipment | 23 | €17,591 | €8,449 | -€9,142 | -52.0% |
| Furniture and vehicles | 24 | €19,314 | €12,294 | -€7,020 | -36.3% |
| Other tangible fixed assets | 26 | €140,727 | €135,515 | -€5,212 | -3.7% |
| Current assets | 29/58 | €70,267 | €134,068 | +€63,801 | +90.8% |
| Amounts receivable within one year | 40/41 | €2,888 | €8,655 | +€5,767 | +200% |
| Other amounts receivable | 41 | €2,888 | €8,655 | +€5,767 | +200% |
| Cash at bank and in hand | 54/58 | €66,689 | €124,695 | +€58,006 | +87.0% |
| Deferred charges and accrued income | 490/1 | €690 | €718 | +€28 | +4.0% |
| Total equity and liabilities | 10/49 | €604,444 | €621,217 | +€16,773 | +2.8% |
| Equity | 10/15 | €261,552 | €325,892 | +€64,340 | +24.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €249,152 | €313,492 | +€64,340 | +25.8% |
| Distributable reserves | 133 | €249,152 | €313,492 | +€64,340 | +25.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €28,454 | €28,454 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €28,454 | €28,454 | = | 0.0% |
| Pensions and similar obligations | 160 | €28,454 | €28,454 | = | 0.0% |
| Amounts payable | 17/49 | €314,438 | €266,871 | -€47,567 | -15.1% |
| Amounts payable after more than one year | 17 | €197,484 | €166,240 | -€31,244 | -15.8% |
| Financial debts | 170/4 | €197,484 | €166,240 | -€31,244 | -15.8% |
| Amounts payable within one year | 42/48 | €107,288 | €97,631 | -€9,657 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €30,187 | €31,244 | +€1,057 | +3.5% |
| Trade debts | 44 | €2,612 | €0 | -€2,612 | -100% |
| Suppliers | 440/4 | €2,612 | €0 | -€2,612 | -100% |
| Taxes, remuneration and social security | 45 | €7,805 | €7,794 | -€11 | -0.1% |
| Taxes | 450/3 | €7,805 | €7,794 | -€11 | -0.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €66,684 | €58,592 | -€8,092 | -12.1% |
| Accrued charges and deferred income | 492/3 | €9,666 | €3,000 | -€6,666 | -69.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,029 | €47,029 | = | 0.0% |
| Other operating charges | 640/8 | €4,217 | €5,615 | +€1,398 | +33.1% |
| Gross operating margin | 9900 | €155,485 | €167,147 | +€11,662 | +7.5% |
| Operating profit (loss) | 9901 | €104,239 | €114,504 | +€10,264 | +9.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €15,936 | €8,730 | -€7,206 | -45.2% |
| Recurring financial charges | 65 | €15,936 | €8,730 | -€7,206 | -45.2% |
| Profit (loss) for the period before taxes | 9903 | €88,303 | €105,773 | +€17,470 | +19.8% |
| Income taxes | 67/77 | €25,505 | €30,834 | +€5,329 | +20.9% |
| Profit (loss) for the period | 9904 | €62,799 | €74,940 | +€12,141 | +19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €62,799 | €74,940 | +€12,141 | +19.3% |
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 29 October 2026 via checked.be.