Dr. Thomas Verbrugghe: what changed
Dr. Thomas Verbrugghe
Largest movements
- Cash +€71,076
up €71,076 (+97.7%), from €72,725 to €143,802
mainly Net result for the year (+€63,219) and Other debts (+€11,480)
- Receivables within one year -€3,704
down €3,704 (-51.5%), from €7,190 to €3,486
of which Trade receivables: -€3,364
- Tangible fixed assets -€3,008
down €3,008 (-31.7%), from €9,502 to €6,494
of which Furniture and vehicles: -€2,363
- Deferred charges and accrued income +€2,987
up €2,987 (+125%), from €2,387 to €5,374
- Profit (loss) carried forward +€63,219
up €63,219 (+128%), from €49,395 to €112,615
- Debts after one year -€13,839
down €13,839 (-55.4%), from €25,000 to €11,161
- Other debts +€11,480
new in 2025: €11,480
- Current portion of long-term debt +€6,378
new in 2025: €6,378
- Gross operating margin +€15,462
up €15,462 (+22.6%), from €68,495 to €83,957
- Taxes +€3,965
up €3,965 (+29.7%), from €13,330 to €17,296
- Depreciation -€2,121
down €2,121 (-41.3%), from €5,129 to €3,008
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 | €91,804 | €159,156 | +€67,352 | +73.4% |
| Fixed assets | 21/28 | €9,502 | €6,494 | -€3,008 | -31.7% |
| Tangible fixed assets | 22/27 | €9,502 | €6,494 | -€3,008 | -31.7% |
| Plant, machinery and equipment | 23 | €2,032 | €1,507 | -€525 | -25.8% |
| Furniture and vehicles | 24 | €6,395 | €4,033 | -€2,363 | -36.9% |
| Other tangible fixed assets | 26 | €1,075 | €955 | -€121 | -11.2% |
| Current assets | 29/58 | €82,302 | €152,661 | +€70,360 | +85.5% |
| Amounts receivable within one year | 40/41 | €7,190 | €3,486 | -€3,704 | -51.5% |
| Trade receivables | 40 | €6,145 | €2,782 | -€3,364 | -54.7% |
| Other amounts receivable | 41 | €1,044 | €704 | -€340 | -32.6% |
| Cash at bank and in hand | 54/58 | €72,725 | €143,802 | +€71,076 | +97.7% |
| Deferred charges and accrued income | 490/1 | €2,387 | €5,374 | +€2,987 | +125% |
| Total equity and liabilities | 10/49 | €91,804 | €159,156 | +€67,352 | +73.4% |
| Equity | 10/15 | €51,895 | €115,115 | +€63,219 | +122% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,395 | €112,615 | +€63,219 | +128% |
| Amounts payable | 17/49 | €39,909 | €44,041 | +€4,132 | +10.4% |
| Amounts payable after more than one year | 17 | €25,000 | €11,161 | -€13,839 | -55.4% |
| Financial debts | 170/4 | €25,000 | €11,161 | -€13,839 | -55.4% |
| Amounts payable within one year | 42/48 | €14,909 | €32,880 | +€17,971 | +121% |
| Current portion of amounts payable after more than one year | 42 | - | €6,378 | +€6,378 | |
| Trade debts | 44 | €1,578 | €1,692 | +€113 | +7.2% |
| Suppliers | 440/4 | €1,578 | €1,692 | +€113 | +7.2% |
| Taxes, remuneration and social security | 45 | €13,330 | €13,330 | = | 0.0% |
| Taxes | 450/3 | €13,330 | €13,330 | = | 0.0% |
| Other amounts payable | 47/48 | - | €11,480 | +€11,480 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,129 | €3,008 | -€2,121 | -41.3% |
| Other operating charges | 640/8 | €476 | €357 | -€119 | -25.0% |
| Gross operating margin | 9900 | €68,495 | €83,957 | +€15,462 | +22.6% |
| Operating profit (loss) | 9901 | €62,890 | €80,592 | +€17,702 | +28.1% |
| Financial income | 75/76B | €125 | €0 | -€125 | -100% |
| Recurring financial income | 75 | €125 | €0 | -€125 | -100% |
| Financial charges | 65/66B | €289 | €77 | -€212 | -73.3% |
| Recurring financial charges | 65 | €289 | €77 | -€212 | -73.3% |
| Profit (loss) for the period before taxes | 9903 | €62,726 | €80,515 | +€17,789 | +28.4% |
| Income taxes | 67/77 | €13,330 | €17,296 | +€3,965 | +29.7% |
| Profit (loss) for the period | 9904 | €49,395 | €63,219 | +€13,824 | +28.0% |
| Profit (loss) for the period to be appropriated | 9905 | €49,395 | €63,219 | +€13,824 | +28.0% |
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 4 November 2026 via checked.be.