GROUP VERBEKE: 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.
What changed
GROUP VERBEKE
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€660,211
2024 · €151,173+€509,038
Equity
€1.1m
2024 · €396,961+€660,211
Cash
€28,285
2024 · €12,962+€15,323
Balance sheet total
€2.6m
2024 · €2.4m+€261,114
Largest movements
Assets
- Receivables within one year +€254,096
up €254,096 (+61.2%), from €415,003 to €669,099
of which Other amounts receivable: +€530,035
Equity and liabilities
- Profit (loss) carried forward +€660,211
up €660,211 (+50.4%), from -€1.3m to -€650,321
- Debts after one year -€476,489
down €476,489 (-46.0%), from €1.0m to €559,869
- Other debts +€154,480
up €154,480 (+150%), from €102,784 to €257,264
- Current portion of long-term debt -€46,898
down €46,898 (-7.4%), from €633,050 to €586,152
- Trade debts -€30,568
down €30,568 (-24.8%), from €123,504 to €92,937
Income statement
- Financial income +€591,264
up €591,264 (+14,927%), from €3,961 to €595,225
- Turnover -€180,174
down €180,174 (-17.8%), from €1.0m to €832,323
- Services and other goods -€73,182
down €73,182 (-10.2%), from €720,351 to €647,169
- Staff costs -€29,832
down €29,832 (-8.4%), from €355,425 to €325,593
- Write-downs +€24,546
up €24,546, from -€24,546 to €0
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.
Result 2024
€151,173
Turnover
-€180,174
Other operating income
+€6,196
Goods and materials
+€4,477
Services and other goods
+€73,182
Staff costs
+€29,832
Depreciation
+€1,352
Write-downs
-€24,546
Other operating charges
+€474
Other operating items
+€399
Financial income
+€591,264
Financial charges
+€6,530
Taxes
+€52
Result 2025
€660,211
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€539,118
Investment
-€408
Financing
-€523,387
Cash 2024
€12,962
From operations (derived)
+€539,118
Net result for the year
+€660,211
Depreciation
+€8,070
Receivables within one year
-€254,096
Smaller working-capital items
+€1,020
Trade debts
-€30,568
Other debts
+€154,480
Investment (derived)
-€408
Investment in fixed assets (net)
-€408
Financing
-€523,387
Debts after one year
-€476,489
Current portion of long-term debt
-€46,898
Cash 2025
€28,285
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,355,001 | €2,616,115 | +€261,114 | +11.1% |
| Fixed assets | 21/28 | €1,906,183 | €1,898,521 | -€7,662 | -0.4% |
| Intangible fixed assets | 21 | €6,060 | €4,016 | -€2,044 | -33.7% |
| Tangible fixed assets | 22/27 | €24,959 | €19,341 | -€5,618 | -22.5% |
| Furniture and vehicles | 24 | €3,548 | €1,884 | -€1,664 | -46.9% |
| Other tangible fixed assets | 26 | €21,410 | €17,456 | -€3,954 | -18.5% |
| Financial fixed assets | 28 | €1,875,165 | €1,875,165 | = | 0.0% |
| Affiliated companies | 280/1 | €1,800,000 | €1,800,000 | = | 0.0% |
| Participating interests | 280 | €1,800,000 | €1,800,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €75,165 | €75,165 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €75,165 | €75,165 | = | 0.0% |
| Current assets | 29/58 | €448,817 | €717,593 | +€268,776 | +59.9% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Stocks | 30/36 | €0 | - | = | |
| Goods purchased for resale | 34 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €415,003 | €669,099 | +€254,096 | +61.2% |
| Trade receivables | 40 | €347,816 | €71,877 | -€275,939 | -79.3% |
| Other amounts receivable | 41 | €67,187 | €597,222 | +€530,035 | +789% |
| Cash at bank and in hand | 54/58 | €12,962 | €28,285 | +€15,323 | +118% |
| Deferred charges and accrued income | 490/1 | €20,852 | €20,210 | -€642 | -3.1% |
| Total equity and liabilities | 10/49 | €2,355,001 | €2,616,115 | +€261,114 | +11.1% |
| Equity | 10/15 | €396,961 | €1,057,172 | +€660,211 | +166% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,639,294 | €1,639,294 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,310,532 | -€650,321 | +€660,211 | +50.4% |
| Amounts payable | 17/49 | €1,958,039 | €1,558,942 | -€399,097 | -20.4% |
| Amounts payable after more than one year | 17 | €1,036,358 | €559,869 | -€476,489 | -46.0% |
| Financial debts | 170/4 | €1,036,358 | €559,869 | -€476,489 | -46.0% |
| Other loans | 174 | €1,036,358 | €559,869 | -€476,489 | -46.0% |
| Amounts payable within one year | 42/48 | €921,681 | €999,073 | +€77,392 | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €633,050 | €586,152 | -€46,898 | -7.4% |
| Trade debts | 44 | €123,504 | €92,937 | -€30,568 | -24.8% |
| Suppliers | 440/4 | €123,504 | €92,937 | -€30,568 | -24.8% |
| Taxes, remuneration and social security | 45 | €62,343 | €62,721 | +€378 | +0.6% |
| Taxes | 450/3 | €11,860 | €8,727 | -€3,134 | -26.4% |
| Remuneration and social security | 454/9 | €50,483 | €53,994 | +€3,511 | +7.0% |
| Other amounts payable | 47/48 | €102,784 | €257,264 | +€154,480 | +150% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Operating income | 70/76A | €1,264,106 | €1,090,527 | -€173,579 | -13.7% |
| Turnover | 70 | €1,012,497 | €832,323 | -€180,174 | -17.8% |
| Other operating income | 74 | €251,608 | €257,804 | +€6,196 | +2.5% |
| Non-recurring operating income | 76A | €1 | €400 | +€399 | +39,917% |
| Operating charges | 60/66A | €1,067,213 | €982,441 | -€84,772 | -7.9% |
| Goods for resale, raw materials and consumables | 60 | €4,477 | €0 | -€4,477 | -100% |
| Change in stocks: decrease (increase) | 609 | €4,477 | €0 | -€4,477 | -100% |
| Services and other goods | 61 | €720,351 | €647,169 | -€73,182 | -10.2% |
| Remuneration, social security and pensions | 62 | €355,425 | €325,593 | -€29,832 | -8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,423 | €8,070 | -€1,352 | -14.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€24,546 | €0 | +€24,546 | |
| Other operating charges | 640/8 | €2,083 | €1,609 | -€474 | -22.7% |
| Operating profit (loss) | 9901 | €196,893 | €108,085 | -€88,808 | -45.1% |
| Financial income | 75/76B | €3,961 | €595,225 | +€591,264 | +14,927% |
| Recurring financial income | 75 | €3,961 | €595,225 | +€591,264 | +14,927% |
| Income from financial fixed assets | 750 | - | €595,200 | +€595,200 | |
| Income from current assets | 751 | €3,961 | €0 | -€3,961 | -100% |
| Other financial income | 752/9 | €0 | €25 | +€25 | +62,500% |
| Financial charges | 65/66B | €49,462 | €42,932 | -€6,530 | -13.2% |
| Recurring financial charges | 65 | €49,462 | €42,932 | -€6,530 | -13.2% |
| Debt charges | 650 | €49,082 | €42,737 | -€6,346 | -12.9% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €0 | - | = | |
| Other financial charges | 652/9 | €379 | €195 | -€184 | -48.6% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €151,393 | €660,379 | +€508,986 | +336% |
| Income taxes | 67/77 | €220 | €168 | -€52 | -23.8% |
| Taxes | 670/3 | €220 | €168 | -€52 | -23.8% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €151,173 | €660,211 | +€509,038 | +337% |
| Profit (loss) for the period to be appropriated | 9905 | €151,173 | €660,211 | +€509,038 | +337% |
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 25 October 2026 via checked.be.