GROEP VERBOVEN: what changed
What changed
GROEP VERBOVEN
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
€462,765
2024 · €584,324-€121,559
Equity
€2.3m
2024 · €2.0m+€212,765
Cash
€110,578
2024 · €641,278-€530,700
Balance sheet total
€5.4m
2024 · €2.4m+€3.0m
Largest movements
Assets
- Tangible fixed assets +€3.5m
up €3.5m (+201%), from €1.7m to €5.2m
of which Land and buildings: +€3.5m
- Cash -€530,700
down €530,700 (-82.8%), from €641,278 to €110,578
mainly Investment in fixed assets (net) (-€3.7m) and Contributions, distributions and other (-€250,000)
Equity and liabilities
- Debts after one year +€2.1m
new in 2025: €2.1m
- Other debts +€390,000
up €390,000 (+156%), from €250,000 to €640,000
- Current portion of long-term debt +€255,000
new in 2025: €255,000
- Reserves +€173,179
up €173,179 (+10.1%), from €1.7m to €1.9m
of which Distributable reserves: +€200,000
Income statement
- Depreciation +€70,361
up €70,361 (+38.6%), from €182,374 to €252,735
- Financial charges +€60,628
up €60,628 (+2,341%), from €2,590 to €63,218
- Gross operating margin +€21,506
up €21,506 (+2.3%), from €945,863 to €967,369
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€584,324
Gross operating margin
+€21,506
Depreciation
-€70,361
Other operating charges
-€6,634
Financial income
-€0
Financial charges
-€60,628
Taxes
-€5,442
Result 2025
€462,765
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.1m
Investment
-€3.7m
Financing
+€2.1m
Cash 2024
€641,278
From operations (derived)
+€1.1m
Net result for the year
+€462,765
Depreciation
+€252,735
Smaller working-capital items
-€9,406
Tax, wage and social debts
-€20,259
Other debts
+€390,000
Accrued charges and deferred income
+€22,091
Investment (derived)
-€3.7m
Investment in fixed assets (net)
-€3.7m
Financing
+€2.1m
Debts after one year
+€2.1m
Current portion of long-term debt
+€255,000
Short-term financial debts
+€8,250
Contributions, distributions and other
-€250,000
Cash 2025
€110,578
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,400,204 | €5,370,523 | +€3.0m | +124% |
| Fixed assets | 21/28 | €1,736,364 | €5,229,254 | +€3.5m | +201% |
| Tangible fixed assets | 22/27 | €1,736,364 | €5,229,254 | +€3.5m | +201% |
| Land and buildings | 22 | €1,736,364 | €5,228,275 | +€3.5m | +201% |
| Furniture and vehicles | 24 | - | €979 | +€979 | |
| Current assets | 29/58 | €663,840 | €141,268 | -€522,571 | -78.7% |
| Amounts receivable within one year | 40/41 | €22,562 | €30,690 | +€8,129 | +36.0% |
| Trade receivables | 40 | €22,562 | €30,690 | +€8,129 | +36.0% |
| Cash at bank and in hand | 54/58 | €641,278 | €110,578 | -€530,700 | -82.8% |
| Total equity and liabilities | 10/49 | €2,400,204 | €5,370,523 | +€3.0m | +124% |
| Equity | 10/15 | €2,041,357 | €2,254,122 | +€212,765 | +10.4% |
| Contributions | 10/11 | €235,499 | €235,499 | = | 0.0% |
| Reserves | 13 | €1,720,833 | €1,894,012 | +€173,179 | +10.1% |
| Tax-exempt reserves | 132 | €142,593 | €115,773 | -€26,821 | -18.8% |
| Distributable reserves | 133 | €1,578,239 | €1,778,239 | +€200,000 | +12.7% |
| Profit (loss) carried forward | 14 | €85,026 | €124,612 | +€39,586 | +46.6% |
| Provisions and deferred taxes | 16 | €47,531 | €38,591 | -€8,940 | -18.8% |
| Deferred taxes | 168 | €47,531 | €38,591 | -€8,940 | -18.8% |
| Amounts payable | 17/49 | €311,315 | €3,077,809 | +€2.8m | +889% |
| Amounts payable after more than one year | 17 | - | €2,103,750 | +€2.1m | |
| Financial debts | 170/4 | - | €2,103,750 | +€2.1m | |
| Amounts payable within one year | 42/48 | €311,315 | €951,968 | +€640,653 | +206% |
| Current portion of amounts payable after more than one year | 42 | - | €255,000 | +€255,000 | |
| Financial debts | 43 | €33,805 | €42,054 | +€8,250 | +24.4% |
| Credit institutions | 430/8 | €33,805 | €42,054 | +€8,250 | +24.4% |
| Trade debts | 44 | €4,760 | €12,422 | +€7,662 | +161% |
| Suppliers | 440/4 | €4,760 | €12,422 | +€7,662 | +161% |
| Taxes, remuneration and social security | 45 | €22,751 | €2,492 | -€20,259 | -89.0% |
| Taxes | 450/3 | €22,751 | €2,492 | -€20,259 | -89.0% |
| Other amounts payable | 47/48 | €250,000 | €640,000 | +€390,000 | +156% |
| Accrued charges and deferred income | 492/3 | - | €22,091 | +€22,091 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €182,374 | €252,735 | +€70,361 | +38.6% |
| Other operating charges | 640/8 | €65,123 | €71,757 | +€6,634 | +10.2% |
| Gross operating margin | 9900 | €945,863 | €967,369 | +€21,506 | +2.3% |
| Operating profit (loss) | 9901 | €698,366 | €642,877 | -€55,488 | -7.9% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €2,590 | €63,218 | +€60,628 | +2,341% |
| Recurring financial charges | 65 | €2,590 | €63,218 | +€60,628 | +2,341% |
| Profit (loss) for the period before taxes | 9903 | €695,776 | €579,659 | -€116,117 | -16.7% |
| Transfer from deferred taxes | 780 | €8,940 | €8,940 | = | 0.0% |
| Income taxes | 67/77 | €120,392 | €125,834 | +€5,442 | +4.5% |
| Profit (loss) for the period | 9904 | €584,324 | €462,765 | -€121,559 | -20.8% |
| Transfer from tax-exempt reserves | 789 | €26,821 | €26,821 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €611,145 | €489,586 | -€121,559 | -19.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.