Dr. Xander Verbeke: 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. Xander Verbeke
Largest movements
- Cash +€64,368
up €64,368 (+316.1%), from €20,366 to €84,734
mainly Net result for the year (+€66,380) and Depreciation (+€7,649)
- Reserves +€66,380
up €66,380 (+635.4%), from €10,446 to €76,826
- Debts after one year -€6,232
down €6,232 (-28.9%), from €21,560 to €15,327
- Tax, wage and social debts +€4,303
up €4,303 (+251.5%), from €1,711 to €6,014
- Gross operating margin +€70,063
up €70,063 (+272.2%), from €25,743 to €95,805
- Taxes +€14,058
up €14,058 (+384.4%), from €3,657 to €17,714
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 | €47,405 | €112,024 | +€64,619 | +136.3% |
| Fixed assets | 21/28 | €25,882 | €25,232 | -€650 | -2.5% |
| Tangible fixed assets | 22/27 | €25,882 | €25,232 | -€650 | -2.5% |
| Plant, machinery and equipment | 23 | - | €6,474 | +€6,474 | |
| Leasing and similar rights | 25 | €25,882 | €18,759 | -€7,123 | -27.5% |
| Current assets | 29/58 | €21,523 | €86,792 | +€65,269 | +303.2% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €20,366 | €84,734 | +€64,368 | +316.1% |
| Deferred charges and accrued income | 490/1 | €1,158 | €2,058 | +€901 | +77.8% |
| Total equity and liabilities | 10/49 | €47,405 | €112,024 | +€64,619 | +136.3% |
| Equity | 10/15 | €15,446 | €81,826 | +€66,380 | +429.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €10,446 | €76,826 | +€66,380 | +635.4% |
| Distributable reserves | 133 | €10,446 | €76,826 | +€66,380 | +635.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €31,959 | €30,198 | -€1,761 | -5.5% |
| Amounts payable after more than one year | 17 | €21,560 | €15,327 | -€6,232 | -28.9% |
| Financial debts | 170/4 | €21,560 | €15,327 | -€6,232 | -28.9% |
| Amounts payable within one year | 42/48 | €10,399 | €14,724 | +€4,325 | +41.6% |
| Current portion of amounts payable after more than one year | 42 | €6,232 | €6,232 | = | 0.0% |
| Trade debts | 44 | €375 | €407 | +€32 | +8.6% |
| Suppliers | 440/4 | €375 | €407 | +€32 | +8.6% |
| Taxes, remuneration and social security | 45 | €1,711 | €6,014 | +€4,303 | +251.5% |
| Taxes | 450/3 | €1,711 | €6,014 | +€4,303 | +251.5% |
| Other amounts payable | 47/48 | €2,080 | €2,070 | -€11 | -0.5% |
| Accrued charges and deferred income | 492/3 | - | €147 | +€147 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,123 | €7,649 | +€526 | +7.4% |
| Other operating charges | 640/8 | €1,689 | €1,704 | +€15 | +0.9% |
| Gross operating margin | 9900 | €25,743 | €95,805 | +€70,063 | +272.2% |
| Operating profit (loss) | 9901 | €16,930 | €86,452 | +€69,522 | +410.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,045 | €2,358 | +€313 | +15.3% |
| Recurring financial charges | 65 | €2,045 | €2,358 | +€313 | +15.3% |
| Profit (loss) for the period before taxes | 9903 | €14,885 | €84,094 | +€69,209 | +464.9% |
| Income taxes | 67/77 | €3,657 | €17,714 | +€14,058 | +384.4% |
| Profit (loss) for the period | 9904 | €11,229 | €66,380 | +€55,151 | +491.2% |
| Profit (loss) for the period to be appropriated | 9905 | €11,229 | €66,380 | +€55,151 | +491.2% |
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 9 October 2026 via checked.be.