Gerry Verschuren: 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.
Gerry Verschuren
Largest movements
- Current investments +€675,173
new in 2025: €675,173
- Cash -€517,951
down €517,951 (-85.9%), from €603,294 to €85,344
mainly Current investments (-€675,173) and Receivables within one year (-€27,112)
- Receivables within one year +€27,112
up €27,112 (+3.2%), from €848,690 to €875,803
of which Trade receivables: +€28,027
- Reserves +€139,339
up €139,339 (+9.9%), from €1.4m to €1.6m
- Other debts +€28,880
up €28,880 (+260%), from €11,114 to €39,994
- Gross operating margin +€16,106
up €16,106 (+9.3%), from €173,330 to €189,435
- Taxes +€6,493
up €6,493 (+10.9%), from €59,831 to €66,325
- Staff costs -€4,500
down €4,500 (-100%), from €4,500 to €0
- Financial income -€4,008
down €4,008 (-15.8%), from €25,396 to €21,388
- Financial charges -€3,129
down €3,129 (-62.4%), from €5,015 to €1,887
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 | €1,480,118 | €1,666,272 | +€186,154 | +12.6% |
| Fixed assets | 21/28 | €28,134 | €29,953 | +€1,819 | +6.5% |
| Tangible fixed assets | 22/27 | €28,134 | €29,953 | +€1,819 | +6.5% |
| Land and buildings | 22 | €28,000 | €28,000 | = | 0.0% |
| Furniture and vehicles | 24 | €134 | €1,953 | +€1,819 | +1,359% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,451,984 | €1,636,319 | +€184,335 | +12.7% |
| Amounts receivable within one year | 40/41 | €848,690 | €875,803 | +€27,112 | +3.2% |
| Trade receivables | 40 | €18,768 | €46,795 | +€28,027 | +149% |
| Other amounts receivable | 41 | €829,922 | €829,008 | -€914 | -0.1% |
| Current investments | 50/53 | - | €675,173 | +€675,173 | |
| Cash at bank and in hand | 54/58 | €603,294 | €85,344 | -€517,951 | -85.9% |
| Total equity and liabilities | 10/49 | €1,480,118 | €1,666,272 | +€186,154 | +12.6% |
| Equity | 10/15 | €1,465,199 | €1,604,538 | +€139,339 | +9.5% |
| Contributions | 10/11 | €53,960 | €53,960 | = | 0.0% |
| Reserves | 13 | €1,411,240 | €1,550,578 | +€139,339 | +9.9% |
| Distributable reserves | 133 | €1,411,240 | €1,550,578 | +€139,339 | +9.9% |
| Amounts payable | 17/49 | €14,919 | €61,734 | +€46,815 | +314% |
| Amounts payable within one year | 42/48 | €14,919 | €61,734 | +€46,815 | +314% |
| Trade debts | 44 | - | €2,270 | +€2,270 | |
| Suppliers | 440/4 | - | €2,270 | +€2,270 | |
| Taxes, remuneration and social security | 45 | €3,805 | €19,471 | +€15,666 | +412% |
| Taxes | 450/3 | €3,805 | €19,471 | +€15,666 | +412% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €11,114 | €39,994 | +€28,880 | +260% |
| Remuneration, social security and pensions | 62 | €4,500 | €0 | -€4,500 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €510 | €482 | -€28 | -5.6% |
| Other operating charges | 640/8 | €3,026 | €2,792 | -€235 | -7.8% |
| Gross operating margin | 9900 | €173,330 | €189,435 | +€16,106 | +9.3% |
| Operating profit (loss) | 9901 | €165,293 | €186,162 | +€20,869 | +12.6% |
| Financial income | 75/76B | €25,396 | €21,388 | -€4,008 | -15.8% |
| Recurring financial income | 75 | €25,396 | €21,388 | -€4,008 | -15.8% |
| Financial charges | 65/66B | €5,015 | €1,887 | -€3,129 | -62.4% |
| Recurring financial charges | 65 | €5,015 | €1,887 | -€3,129 | -62.4% |
| Profit (loss) for the period before taxes | 9903 | €185,674 | €205,663 | +€19,989 | +10.8% |
| Income taxes | 67/77 | €59,831 | €66,325 | +€6,493 | +10.9% |
| Profit (loss) for the period | 9904 | €125,843 | €139,339 | +€13,496 | +10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €125,843 | €139,339 | +€13,496 | +10.7% |
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.