DRUKKERIJ VERSPECHT: 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.
DRUKKERIJ VERSPECHT
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+180%), from €684,940 to €1.9m
of which Leasing and similar rights: +€960,051
- Cash -€261,783
down €261,783 (-33.8%), from €775,139 to €513,355
mainly Investment in fixed assets (net) (-€1.6m) and Receivables within one year (-€170,920)
- Receivables within one year +€170,920
up €170,920 (+30.5%), from €560,536 to €731,456
of which Trade receivables: +€131,563
- Debts after one year +€791,755
up €791,755 (+655%), from €120,917 to €912,672
- Reserves +€183,753
up €183,753 (+12.2%), from €1.5m to €1.7m
of which Distributable reserves: +€183,753
- Current portion of long-term debt +€117,311
up €117,311 (+64.2%), from €182,724 to €300,035
- Advances received +€50,000
new in 2025: €50,000
- Staff costs -€344,238
down €344,238 (-50.8%), from €677,620 to €333,382
- Depreciation +€201,587
up €201,587 (+135%), from €149,451 to €351,038
- Other operating charges -€75,716
down €75,716 (-86.8%), from €87,274 to €11,558
- Gross operating margin -€31,299
down €31,299 (-3.2%), from €984,010 to €952,711
- Financial charges +€30,721
up €30,721 (+400%), from €7,671 to €38,392
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 | €2,020,615 | €3,163,531 | +€1.1m | +56.6% |
| Fixed assets | 21/28 | €684,940 | €1,918,560 | +€1.2m | +180% |
| Tangible fixed assets | 22/27 | €684,940 | €1,918,560 | +€1.2m | +180% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €147,652 | €405,115 | +€257,463 | +174% |
| Furniture and vehicles | 24 | €11,288 | €27,394 | +€16,106 | +143% |
| Leasing and similar rights | 25 | €526,000 | €1,486,051 | +€960,051 | +183% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,335,675 | €1,244,971 | -€90,704 | -6.8% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €560,536 | €731,456 | +€170,920 | +30.5% |
| Trade receivables | 40 | €472,285 | €603,849 | +€131,563 | +27.9% |
| Other amounts receivable | 41 | €88,251 | €127,607 | +€39,357 | +44.6% |
| Cash at bank and in hand | 54/58 | €775,139 | €513,355 | -€261,783 | -33.8% |
| Deferred charges and accrued income | 490/1 | - | €160 | +€160 | |
| Total equity and liabilities | 10/49 | €2,020,615 | €3,163,531 | +€1.1m | +56.6% |
| Equity | 10/15 | €1,559,917 | €1,743,669 | +€183,753 | +11.8% |
| Contributions | 10/11 | €53,750 | €53,750 | = | 0.0% |
| Reserves | 13 | €1,506,167 | €1,689,919 | +€183,753 | +12.2% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,487,417 | €1,671,169 | +€183,753 | +12.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €460,698 | €1,419,862 | +€959,164 | +208% |
| Amounts payable after more than one year | 17 | €120,917 | €912,672 | +€791,755 | +655% |
| Financial debts | 170/4 | €120,917 | €912,672 | +€791,755 | +655% |
| Amounts payable within one year | 42/48 | €339,781 | €507,190 | +€167,409 | +49.3% |
| Current portion of amounts payable after more than one year | 42 | €182,724 | €300,035 | +€117,311 | +64.2% |
| Financial debts | 43 | €11,929 | €0 | -€11,929 | -100% |
| Credit institutions | 430/8 | €11,929 | €0 | -€11,929 | -100% |
| Trade debts | 44 | €94,915 | €117,272 | +€22,357 | +23.6% |
| Suppliers | 440/4 | €94,915 | €117,272 | +€22,357 | +23.6% |
| Advances received on contracts in progress | 46 | - | €50,000 | +€50,000 | |
| Taxes, remuneration and social security | 45 | €49,114 | €39,884 | -€9,230 | -18.8% |
| Taxes | 450/3 | €15,798 | €15,430 | -€368 | -2.3% |
| Remuneration and social security | 454/9 | €33,315 | €24,454 | -€8,862 | -26.6% |
| Other amounts payable | 47/48 | €1,101 | €0 | -€1,101 | -100% |
| Remuneration, social security and pensions | 62 | €677,620 | €333,382 | -€344,238 | -50.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €149,451 | €351,038 | +€201,587 | +135% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,245 | +€5,245 | |
| Other operating charges | 640/8 | €87,274 | €11,558 | -€75,716 | -86.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €984,010 | €952,711 | -€31,299 | -3.2% |
| Operating profit (loss) | 9901 | €69,664 | €251,488 | +€181,824 | +261% |
| Financial income | 75/76B | €4,900 | €502 | -€4,399 | -89.8% |
| Recurring financial income | 75 | €4,900 | €502 | -€4,399 | -89.8% |
| Financial charges | 65/66B | €7,671 | €38,392 | +€30,721 | +400% |
| Recurring financial charges | 65 | €7,671 | €38,392 | +€30,721 | +400% |
| Profit (loss) for the period before taxes | 9903 | €66,893 | €213,597 | +€146,704 | +219% |
| Income taxes | 67/77 | €26,620 | €29,845 | +€3,225 | +12.1% |
| Profit (loss) for the period | 9904 | €40,273 | €183,753 | +€143,479 | +356% |
| Profit (loss) for the period to be appropriated | 9905 | €40,273 | €183,753 | +€143,479 | +356% |
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 1 November 2026 via checked.be.