DR. S. VERJANS: 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. S. VERJANS
Largest movements
- Cash +€52,481
up €52,481 (+37.0%), from €141,815 to €194,296
mainly Net result for the year (+€99,707) and Depreciation (+€14,202)
- Deferred charges and accrued income +€28,464
up €28,464 (+52.9%), from €53,802 to €82,265
- Tangible fixed assets -€10,572
down €10,572 (-24.8%), from €42,560 to €31,988
of which Furniture and vehicles: -€13,154
- Reserves +€99,707
up €99,707 (+50.7%), from €196,557 to €296,264
- Tax, wage and social debts -€20,824
down €20,824 (-80.5%), from €25,859 to €5,035
- Debts after one year -€10,141
down €10,141 (-43.4%), from €23,368 to €13,228
No income-statement line moved by more than 1% of the activity.
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 | €260,886 | €331,583 | +€70,697 | +27.1% |
| Fixed assets | 21/28 | €45,060 | €34,488 | -€10,572 | -23.5% |
| Tangible fixed assets | 22/27 | €42,560 | €31,988 | -€10,572 | -24.8% |
| Furniture and vehicles | 24 | €39,434 | €26,281 | -€13,154 | -33.4% |
| Other tangible fixed assets | 26 | €3,126 | €5,707 | +€2,582 | +82.6% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €215,826 | €297,095 | +€81,269 | +37.7% |
| Amounts receivable within one year | 40/41 | €20,210 | €20,534 | +€324 | +1.6% |
| Other amounts receivable | 41 | €20,210 | €20,534 | +€324 | +1.6% |
| Cash at bank and in hand | 54/58 | €141,815 | €194,296 | +€52,481 | +37.0% |
| Deferred charges and accrued income | 490/1 | €53,802 | €82,265 | +€28,464 | +52.9% |
| Total equity and liabilities | 10/49 | €260,886 | €331,583 | +€70,697 | +27.1% |
| Equity | 10/15 | €199,557 | €299,264 | +€99,707 | +50.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €196,557 | €296,264 | +€99,707 | +50.7% |
| Distributable reserves | 133 | €196,557 | €296,264 | +€99,707 | +50.7% |
| Amounts payable | 17/49 | €61,329 | €32,319 | -€29,010 | -47.3% |
| Amounts payable after more than one year | 17 | €23,368 | €13,228 | -€10,141 | -43.4% |
| Financial debts | 170/4 | €23,368 | €13,228 | -€10,141 | -43.4% |
| Amounts payable within one year | 42/48 | €37,961 | €18,891 | -€19,069 | -50.2% |
| Current portion of amounts payable after more than one year | 42 | €9,764 | €10,141 | +€377 | +3.9% |
| Trade debts | 44 | €2,338 | €3,715 | +€1,378 | +58.9% |
| Suppliers | 440/4 | €2,338 | €3,715 | +€1,378 | +58.9% |
| Taxes, remuneration and social security | 45 | €25,859 | €5,035 | -€20,824 | -80.5% |
| Taxes | 450/3 | €25,859 | €5,035 | -€20,824 | -80.5% |
| Accrued charges and deferred income | 492/3 | - | €200 | +€200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,577 | €14,202 | +€625 | +4.6% |
| Other operating charges | 640/8 | €575 | €589 | +€14 | +2.5% |
| Gross operating margin | 9900 | €143,251 | €142,201 | -€1,050 | -0.7% |
| Operating profit (loss) | 9901 | €129,099 | €127,410 | -€1,689 | -1.3% |
| Financial income | 75/76B | €862 | €1,041 | +€180 | +20.9% |
| Recurring financial income | 75 | €862 | €1,041 | +€180 | +20.9% |
| Financial charges | 65/66B | €1,520 | €1,192 | -€328 | -21.6% |
| Recurring financial charges | 65 | €1,520 | €1,192 | -€328 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €128,441 | €127,259 | -€1,182 | -0.9% |
| Income taxes | 67/77 | €27,815 | €27,552 | -€262 | -0.9% |
| Profit (loss) for the period | 9904 | €100,626 | €99,707 | -€919 | -0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €100,626 | €99,707 | -€919 | -0.9% |
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 30 October 2026 via checked.be.