Erwin Verbraeken: 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.
Erwin Verbraeken
Largest movements
- Receivables within one year +€15,094
up €15,094 (+2.7%), from €556,689 to €571,783
- Profit (loss) carried forward +€10,975
up €10,975 (+1.6%), from €684,461 to €695,436
- Financial income +€765
up €765 (+4.0%), from €19,173 to €19,938
- Gross operating margin -€289
down €289 (-7.1%), from -€4,060 to -€4,348
- Taxes +€62
up €62 (+1.5%), from €4,032 to €4,094
From the 31-12-2024 result to the 31-12-2025 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €706,572 | €721,665 | +€15,094 | +2.1% |
| Fixed assets | 21/28 | €149,882 | €149,882 | = | 0.0% |
| Financial fixed assets | 28 | €149,882 | €149,882 | = | 0.0% |
| Current assets | 29/58 | €556,689 | €571,783 | +€15,094 | +2.7% |
| Amounts receivable within one year | 40/41 | €556,689 | €571,783 | +€15,094 | +2.7% |
| Other amounts receivable | 41 | €556,689 | €571,783 | +€15,094 | +2.7% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €706,572 | €721,665 | +€15,094 | +2.1% |
| Equity | 10/15 | €698,721 | €709,696 | +€10,975 | +1.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €684,461 | €695,436 | +€10,975 | +1.6% |
| Amounts payable | 17/49 | €7,851 | €11,969 | +€4,119 | +52.5% |
| Amounts payable within one year | 42/48 | €7,851 | €11,969 | +€4,119 | +52.5% |
| Trade debts | 44 | €3,569 | €3,895 | +€326 | +9.1% |
| Suppliers | 440/4 | €3,569 | €3,895 | +€326 | +9.1% |
| Taxes, remuneration and social security | 45 | €4,282 | €8,074 | +€3,792 | +88.6% |
| Taxes | 450/3 | €4,282 | €8,074 | +€3,792 | +88.6% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€4,060 | -€4,348 | -€289 | -7.1% |
| Operating profit (loss) | 9901 | -€4,565 | -€4,868 | -€303 | -6.6% |
| Financial income | 75/76B | €19,173 | €19,938 | +€765 | +4.0% |
| Recurring financial income | 75 | €19,173 | €19,938 | +€765 | +4.0% |
| Financial charges | 65/66B | €23 | €0 | -€23 | -100% |
| Recurring financial charges | 65 | €23 | €0 | -€23 | -100% |
| Profit (loss) for the period before taxes | 9903 | €14,585 | €15,070 | +€484 | +3.3% |
| Income taxes | 67/77 | €4,032 | €4,094 | +€62 | +1.5% |
| Profit (loss) for the period | 9904 | €10,553 | €10,975 | +€422 | +4.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,553 | €10,975 | +€422 | +4.0% |
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 23 October 2026 via checked.be.