Dr. Verhoeven Stijn: what changed
Dr. Verhoeven Stijn
Largest movements
- Cash +€86,537
up €86,537 (+53.5%), from €161,811 to €248,348
mainly Other debts (+€242,181) and Net result for the year (+€142,181)
- Receivables within one year -€72,404
down €72,404 (-59.2%), from €122,404 to €50,000
- Receivables after one year -€36,000
down €36,000 (-100%), from €36,000 to €0
- Tangible fixed assets -€19,626
down €19,626 (-24.3%), from €80,599 to €60,973
of which Leasing and similar rights: -€16,531
- Other debts +€242,181
up €242,181 (+23,064,837%), from €1 to €242,182
- Profit (loss) carried forward -€106,620
down €106,620 (-100%), from €106,620 to €0
- Reserves -€100,000
down €100,000 (-63.2%), from €158,142 to €58,142
- Tax, wage and social debts -€57,543
down €57,543 (-87.4%), from €65,859 to €8,316
- Debts after one year -€16,427
down €16,427 (-30.5%), from €53,874 to €37,447
- Gross operating margin -€81,595
down €81,595 (-27.8%), from €292,999 to €211,403
- Taxes -€20,820
down €20,820 (-32.5%), from €63,968 to €43,148
- Depreciation +€3,387
up €3,387 (+20.9%), from €16,239 to €19,626
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 | €404,270 | €365,789 | -€38,481 | -9.5% |
| Fixed assets | 21/28 | €80,599 | €60,973 | -€19,626 | -24.3% |
| Tangible fixed assets | 22/27 | €80,599 | €60,973 | -€19,626 | -24.3% |
| Furniture and vehicles | 24 | €11,212 | €8,118 | -€3,094 | -27.6% |
| Leasing and similar rights | 25 | €69,387 | €52,855 | -€16,531 | -23.8% |
| Current assets | 29/58 | €323,671 | €304,816 | -€18,855 | -5.8% |
| Amounts receivable after more than one year | 29 | €36,000 | €0 | -€36,000 | -100% |
| Other amounts receivable | 291 | €36,000 | €0 | -€36,000 | -100% |
| Amounts receivable within one year | 40/41 | €122,404 | €50,000 | -€72,404 | -59.2% |
| Trade receivables | 40 | €122,404 | €50,000 | -€72,404 | -59.2% |
| Cash at bank and in hand | 54/58 | €161,811 | €248,348 | +€86,537 | +53.5% |
| Deferred charges and accrued income | 490/1 | €3,456 | €6,468 | +€3,013 | +87.2% |
| Total equity and liabilities | 10/49 | €404,270 | €365,789 | -€38,481 | -9.5% |
| Equity | 10/15 | €267,263 | €60,642 | -€206,620 | -77.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €158,142 | €58,142 | -€100,000 | -63.2% |
| Distributable reserves | 133 | €158,142 | €58,142 | -€100,000 | -63.2% |
| Profit (loss) carried forward | 14 | €106,620 | €0 | -€106,620 | -100% |
| Amounts payable | 17/49 | €137,008 | €305,147 | +€168,139 | +123% |
| Amounts payable after more than one year | 17 | €53,874 | €37,447 | -€16,427 | -30.5% |
| Financial debts | 170/4 | €53,874 | €37,447 | -€16,427 | -30.5% |
| Amounts payable within one year | 42/48 | €83,133 | €267,699 | +€184,566 | +222% |
| Current portion of amounts payable after more than one year | 42 | €16,333 | €16,427 | +€94 | +0.6% |
| Trade debts | 44 | €940 | €775 | -€166 | -17.6% |
| Suppliers | 440/4 | €940 | €775 | -€166 | -17.6% |
| Taxes, remuneration and social security | 45 | €65,859 | €8,316 | -€57,543 | -87.4% |
| Taxes | 450/3 | €65,859 | €8,316 | -€57,543 | -87.4% |
| Other amounts payable | 47/48 | €1 | €242,182 | +€242,181 | +23,064,837% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,239 | €19,626 | +€3,387 | +20.9% |
| Other operating charges | 640/8 | €3,427 | €3,888 | +€461 | +13.4% |
| Gross operating margin | 9900 | €292,999 | €211,403 | -€81,595 | -27.8% |
| Operating profit (loss) | 9901 | €273,332 | €187,890 | -€85,443 | -31.3% |
| Financial income | 75/76B | €12 | €0 | -€12 | -100% |
| Recurring financial income | 75 | €12 | €0 | -€12 | -100% |
| Financial charges | 65/66B | €2,756 | €2,561 | -€195 | -7.1% |
| Recurring financial charges | 65 | €2,756 | €2,561 | -€195 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €270,588 | €185,329 | -€85,259 | -31.5% |
| Income taxes | 67/77 | €63,968 | €43,148 | -€20,820 | -32.5% |
| Profit (loss) for the period | 9904 | €206,620 | €142,181 | -€64,439 | -31.2% |
| Profit (loss) for the period to be appropriated | 9905 | €206,620 | €142,181 | -€64,439 | -31.2% |
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.