DR. VERBIEST PASCAL: what changed
Two fiscal 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. VERBIEST PASCAL
Largest movements
- Cash +€164,548
up €164,548 (+37.0%), from €444,992 to €609,539
mainly Net result for the year (+€142,177) and Tax, wage and social debts (+€32,086)
- Receivables within one year -€22,505
down €22,505 (-90.0%), from €25,016 to €2,511
of which Other amounts receivable: -€22,505
- Receivables after one year +€17,966
up €17,966 (+6.7%), from €267,262 to €285,228
- Tangible fixed assets -€14,992
down €14,992 (-5.1%), from €295,507 to €280,516
- Reserves +€223,415
up €223,415 (+52.2%), from €428,358 to €651,773
of which Distributable reserves: +€223,415
- Profit (loss) carried forward -€100,537
no longer reported in 2025 (was €100,537)
- Tax, wage and social debts +€32,086
up €32,086 (+4116.9%), from €779 to €32,865
of which Taxes: +€32,145
- Gross operating margin +€41,367
up €41,367 (+22.2%), from €186,306 to €227,672
- Taxes +€11,711
up €11,711 (+23.4%), from €49,996 to €61,707
- Staff costs -€5,995
down €5,995 (-45.4%), from €13,216 to €7,221
- Depreciation -€3,354
down €3,354 (-13.8%), from €24,307 to €20,953
- Financial income +€2,666
up €2,666 (+49.8%), from €5,350 to €8,016
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.
Cash bridge derived
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 | €1,078,121 | €1,231,592 | +€153,471 | +14.2% |
| Fixed assets | 21/28 | €295,507 | €280,516 | -€14,992 | -5.1% |
| Tangible fixed assets | 22/27 | €295,507 | €280,516 | -€14,992 | -5.1% |
| Land and buildings | 22 | €295,507 | €280,516 | -€14,992 | -5.1% |
| Current assets | 29/58 | €782,614 | €951,076 | +€168,462 | +21.5% |
| Amounts receivable after more than one year | 29 | €267,262 | €285,228 | +€17,966 | +6.7% |
| Other amounts receivable | 291 | €267,262 | €285,228 | +€17,966 | +6.7% |
| Amounts receivable within one year | 40/41 | €25,016 | €2,511 | -€22,505 | -90.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €25,016 | €2,511 | -€22,505 | -90.0% |
| Cash at bank and in hand | 54/58 | €444,992 | €609,539 | +€164,548 | +37.0% |
| Deferred charges and accrued income | 490/1 | €45,344 | €53,798 | +€8,454 | +18.6% |
| Total equity and liabilities | 10/49 | €1,078,121 | €1,231,592 | +€153,471 | +14.2% |
| Equity | 10/15 | €925,430 | €1,048,307 | +€122,877 | +13.3% |
| Contributions | 10/11 | €396,535 | €396,535 | = | 0.0% |
| Reserves | 13 | €428,358 | €651,773 | +€223,415 | +52.2% |
| Tax-exempt reserves | 132 | €558 | €558 | = | 0.0% |
| Distributable reserves | 133 | €427,799 | €651,214 | +€223,415 | +52.2% |
| Profit (loss) carried forward | 14 | €100,537 | - | -€100,537 | |
| Amounts payable | 17/49 | €152,691 | €183,285 | +€30,593 | +20.0% |
| Amounts payable within one year | 42/48 | €152,004 | €183,285 | +€31,280 | +20.6% |
| Financial debts | 43 | €16,934 | €16,894 | -€40 | -0.2% |
| Credit institutions | 430/8 | €16,934 | €16,894 | -€40 | -0.2% |
| Trade debts | 44 | €14,291 | €13,526 | -€765 | -5.4% |
| Suppliers | 440/4 | €14,291 | €13,526 | -€765 | -5.4% |
| Taxes, remuneration and social security | 45 | €779 | €32,865 | +€32,086 | +4116.9% |
| Taxes | 450/3 | - | €32,145 | +€32,145 | |
| Remuneration and social security | 454/9 | €779 | €720 | -€60 | -7.6% |
| Other amounts payable | 47/48 | €120,000 | €120,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €687 | €0 | -€687 | -100.0% |
| Remuneration, social security and pensions | 62 | €13,216 | €7,221 | -€5,995 | -45.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,307 | €20,953 | -€3,354 | -13.8% |
| Other operating charges | 640/8 | €1,902 | €1,872 | -€30 | -1.6% |
| Gross operating margin | 9900 | €186,306 | €227,672 | +€41,367 | +22.2% |
| Operating profit (loss) | 9901 | €146,881 | €197,626 | +€50,745 | +34.5% |
| Financial income | 75/76B | €5,350 | €8,016 | +€2,666 | +49.8% |
| Recurring financial income | 75 | €5,350 | €8,016 | +€2,666 | +49.8% |
| Financial charges | 65/66B | €1,698 | €1,759 | +€61 | +3.6% |
| Recurring financial charges | 65 | €1,698 | €1,759 | +€61 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | €150,533 | €203,884 | +€53,351 | +35.4% |
| Income taxes | 67/77 | €49,996 | €61,707 | +€11,711 | +23.4% |
| Profit (loss) for the period | 9904 | €100,537 | €142,177 | +€41,639 | +41.4% |
| Profit (loss) for the period to be appropriated | 9905 | €100,537 | €142,177 | +€41,639 | +41.4% |
Source: filed annual accounts (NBB), fiscal 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 September 2026 via checked.be.