GJ Versteynen: 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.
GJ Versteynen
Largest movements
- Tangible fixed assets -€725,442
down €725,442 (-73.3%), from €989,041 to €263,599
of which Leasing and similar rights: -€676,592
- Receivables within one year +€93,366
up €93,366 (+28.3%), from €329,553 to €422,919
of which Other amounts receivable: +€116,893
- Receivables after one year +€22,530
new in 2025: €22,530
- Debts after one year -€434,212
down €434,212 (-63.5%), from €684,168 to €249,956
- Current portion of long-term debt -€257,485
down €257,485 (-94.2%), from €273,235 to €15,750
- Short-term financial debts +€200,000
up €200,000 (+182%), from €110,000 to €310,000
of which Credit institutions: +€310,000
- Trade debts -€100,520
down €100,520 (-24.0%), from €419,062 to €318,542
- Accrued charges and deferred income -€88,757
down €88,757 (-97.9%), from €90,650 to €1,893
- Gross operating margin +€229,568
up €229,568 (+70.9%), from €323,960 to €553,528
- Depreciation -€219,865
down €219,865 (-74.7%), from €294,154 to €74,289
- Other operating charges +€98,870
up €98,870 (+192%), from €51,479 to €150,349
- Staff costs +€31,367
up €31,367 (+18.4%), from €170,741 to €202,107
- Financial charges +€20,720
up €20,720 (+45.4%), from €45,687 to €66,407
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 | €1,332,543 | €718,908 | -€613,634 | -46.0% |
| Fixed assets | 21/28 | €991,296 | €265,854 | -€725,442 | -73.2% |
| Tangible fixed assets | 22/27 | €989,041 | €263,599 | -€725,442 | -73.3% |
| Land and buildings | 22 | €55,873 | €49,123 | -€6,750 | -12.1% |
| Plant, machinery and equipment | 23 | €61,966 | €45,803 | -€16,163 | -26.1% |
| Furniture and vehicles | 24 | €64,963 | €39,026 | -€25,937 | -39.9% |
| Leasing and similar rights | 25 | €806,239 | €129,647 | -€676,592 | -83.9% |
| Financial fixed assets | 28 | €2,255 | €2,255 | = | 0.0% |
| Current assets | 29/58 | €341,247 | €453,054 | +€111,808 | +32.8% |
| Amounts receivable after more than one year | 29 | - | €22,530 | +€22,530 | |
| Other amounts receivable | 291 | - | €22,530 | +€22,530 | |
| Amounts receivable within one year | 40/41 | €329,553 | €422,919 | +€93,366 | +28.3% |
| Trade receivables | 40 | €200,126 | €176,599 | -€23,527 | -11.8% |
| Other amounts receivable | 41 | €129,427 | €246,320 | +€116,893 | +90.3% |
| Cash at bank and in hand | 54/58 | €8,228 | €7,606 | -€622 | -7.6% |
| Deferred charges and accrued income | 490/1 | €3,466 | €0 | -€3,466 | -100% |
| Total equity and liabilities | 10/49 | €1,332,543 | €718,908 | -€613,634 | -46.0% |
| Equity | 10/15 | -€282,114 | -€218,042 | +€64,072 | +22.7% |
| Contributions | 10/11 | €9,500 | €9,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€291,614 | -€227,542 | +€64,072 | +22.0% |
| Amounts payable | 17/49 | €1,614,657 | €936,950 | -€677,706 | -42.0% |
| Amounts payable after more than one year | 17 | €684,168 | €249,956 | -€434,212 | -63.5% |
| Financial debts | 170/4 | €684,168 | €249,956 | -€434,212 | -63.5% |
| Amounts payable within one year | 42/48 | €839,839 | €685,101 | -€154,738 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €273,235 | €15,750 | -€257,485 | -94.2% |
| Financial debts | 43 | €110,000 | €310,000 | +€200,000 | +182% |
| Credit institutions | 430/8 | - | €310,000 | +€310,000 | |
| Other loans | 439 | €110,000 | €0 | -€110,000 | -100% |
| Trade debts | 44 | €419,062 | €318,542 | -€100,520 | -24.0% |
| Suppliers | 440/4 | €419,062 | €318,542 | -€100,520 | -24.0% |
| Taxes, remuneration and social security | 45 | €37,541 | €40,809 | +€3,268 | +8.7% |
| Taxes | 450/3 | €1,197 | €0 | -€1,197 | -100.0% |
| Remuneration and social security | 454/9 | €36,344 | €40,809 | +€4,464 | +12.3% |
| Accrued charges and deferred income | 492/3 | €90,650 | €1,893 | -€88,757 | -97.9% |
| Non-recurring operating income | 76A | €36,750 | €49,599 | +€12,849 | +35.0% |
| Remuneration, social security and pensions | 62 | €170,741 | €202,107 | +€31,367 | +18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €294,154 | €74,289 | -€219,865 | -74.7% |
| Other operating charges | 640/8 | €51,479 | €150,349 | +€98,870 | +192% |
| Non-recurring operating charges | 66A | - | €2,020 | +€2,020 | |
| Gross operating margin | 9900 | €323,960 | €553,528 | +€229,568 | +70.9% |
| Operating profit (loss) | 9901 | -€192,414 | €124,762 | +€317,176 | |
| Financial income | 75/76B | €7,010 | €5,717 | -€1,293 | -18.4% |
| Recurring financial income | 75 | €7,010 | €5,717 | -€1,293 | -18.4% |
| Financial charges | 65/66B | €45,687 | €66,407 | +€20,720 | +45.4% |
| Recurring financial charges | 65 | €45,687 | €66,407 | +€20,720 | +45.4% |
| Profit (loss) for the period before taxes | 9903 | -€231,090 | €64,072 | +€295,163 | |
| Income taxes | 67/77 | €140 | €0 | -€140 | -100% |
| Profit (loss) for the period | 9904 | -€231,230 | €64,072 | +€295,302 | |
| Profit (loss) for the period to be appropriated | 9905 | -€231,230 | €64,072 | +€295,302 |
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 22 October 2026 via checked.be.