Dr. K. Verboven: what changed
What changed
Dr. K. Verboven
filed annual accounts (NBB)
Net result for the year
€211,373
2024 · €206,404+€4,970
Equity
€186,974
2024 · €295,601-€108,627
Cash
€387,591
2024 · €199,977+€187,614
Balance sheet total
€631,113
2024 · €550,311+€80,802
Largest movements
Assets
- Cash +€187,614
up €187,614 (+93.8%), from €199,977 to €387,591
mainly Net result for the year (+€211,373) and Other debts (+€183,622)
- Current investments -€112,000
down €112,000 (-49.5%), from €226,486 to €114,486
Equity and liabilities
- Other debts +€183,622
up €183,622 (+72.8%), from €252,224 to €435,845
- Reserves -€108,627
down €108,627 (-39.2%), from €277,001 to €168,374
Income statement
- Gross operating margin +€13,955
up €13,955 (+5.2%), from €269,043 to €282,998
- Taxes +€6,444
up €6,444 (+10.2%), from €63,339 to €69,782
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
€206,404
Gross operating margin
+€13,955
Depreciation
-€1,797
Other operating charges
+€372
Financial income
+€644
Financial charges
-€1,760
Taxes
-€6,444
Result 2025
€211,373
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
+€405,623
Investment
+€101,898
Financing
-€319,907
Cash 2024
€199,977
From operations (derived)
+€405,623
Net result for the year
+€211,373
Depreciation
+€5,022
Receivables within one year
-€2,386
Deferred charges and accrued income
+€2,278
Trade debts
+€6,127
Tax, wage and social debts
-€412
Other debts
+€183,622
Investment (derived)
+€101,898
Investment in fixed assets (net)
-€10,102
Current investments
+€112,000
Financing
-€319,907
Short-term financial debts
+€93
Contributions, distributions and other
-€320,000
Cash 2025
€387,591
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €550,311 | €631,113 | +€80,802 | +14.7% |
| Fixed assets | 21/28 | €27,581 | €32,660 | +€5,080 | +18.4% |
| Tangible fixed assets | 22/27 | €27,581 | €32,660 | +€5,080 | +18.4% |
| Land and buildings | 22 | €929 | €880 | -€49 | -5.3% |
| Plant, machinery and equipment | 23 | €2,535 | €2,007 | -€528 | -20.8% |
| Furniture and vehicles | 24 | €1,991 | €11,142 | +€9,151 | +460% |
| Other tangible fixed assets | 26 | €22,126 | €18,631 | -€3,495 | -15.8% |
| Current assets | 29/58 | €522,730 | €598,453 | +€75,723 | +14.5% |
| Amounts receivable within one year | 40/41 | €93,589 | €95,975 | +€2,386 | +2.5% |
| Other amounts receivable | 41 | €93,589 | €95,975 | +€2,386 | +2.5% |
| Current investments | 50/53 | €226,486 | €114,486 | -€112,000 | -49.5% |
| Cash at bank and in hand | 54/58 | €199,977 | €387,591 | +€187,614 | +93.8% |
| Deferred charges and accrued income | 490/1 | €2,678 | €401 | -€2,278 | -85.0% |
| Total equity and liabilities | 10/49 | €550,311 | €631,113 | +€80,802 | +14.7% |
| Equity | 10/15 | €295,601 | €186,974 | -€108,627 | -36.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €277,001 | €168,374 | -€108,627 | -39.2% |
| Distributable reserves | 133 | €277,001 | €168,374 | -€108,627 | -39.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €254,710 | €444,139 | +€189,429 | +74.4% |
| Amounts payable within one year | 42/48 | €254,710 | €444,139 | +€189,429 | +74.4% |
| Financial debts | 43 | €7 | €100 | +€93 | +1,327% |
| Other loans | 439 | €7 | €100 | +€93 | +1,327% |
| Trade debts | 44 | €823 | €6,950 | +€6,127 | +744% |
| Suppliers | 440/4 | €823 | €6,950 | +€6,127 | +744% |
| Taxes, remuneration and social security | 45 | €1,656 | €1,244 | -€412 | -24.9% |
| Taxes | 450/3 | €1,656 | €1,244 | -€412 | -24.9% |
| Other amounts payable | 47/48 | €252,224 | €435,845 | +€183,622 | +72.8% |
| Non-recurring operating income | 76A | - | €8,000 | +€8,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,225 | €5,022 | +€1,797 | +55.7% |
| Other operating charges | 640/8 | €905 | €533 | -€372 | -41.1% |
| Gross operating margin | 9900 | €269,043 | €282,998 | +€13,955 | +5.2% |
| Operating profit (loss) | 9901 | €264,913 | €277,443 | +€12,530 | +4.7% |
| Financial income | 75/76B | €6,626 | €7,269 | +€644 | +9.7% |
| Recurring financial income | 75 | €6,626 | €7,269 | +€644 | +9.7% |
| Financial charges | 65/66B | €1,796 | €3,556 | +€1,760 | +98.0% |
| Recurring financial charges | 65 | €1,796 | €3,556 | +€1,760 | +98.0% |
| Profit (loss) for the period before taxes | 9903 | €269,742 | €281,156 | +€11,413 | +4.2% |
| Income taxes | 67/77 | €63,339 | €69,782 | +€6,444 | +10.2% |
| Profit (loss) for the period | 9904 | €206,404 | €211,373 | +€4,970 | +2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €206,404 | €211,373 | +€4,970 | +2.4% |
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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 2 November 2026 via checked.be.