J. Verlinden: what changed
J. Verlinden
Largest movements
- Cash +€472,867
up €472,867 (+91.7%), from €515,480 to €988,347
mainly Net result for the year (+€511,651) and Depreciation (+€44,969)
- Tangible fixed assets -€41,633
down €41,633 (-18.6%), from €224,172 to €182,539
of which Land and buildings: -€29,357
- Receivables within one year -€17,142
down €17,142 (-28.5%), from €60,225 to €43,083
of which Other amounts receivable: -€24,514
- Profit (loss) carried forward +€511,651
up €511,651 (+100.0%), from €511,878 to €1.0m
- Other debts -€69,709
down €69,709 (-99.6%), from €70,000 to €291
- Debts after one year -€32,851
down €32,851 (-27.7%), from €118,470 to €85,619
- Tax, wage and social debts +€22,637
new in 2025: €22,637
- Current portion of long-term debt -€21,652
down €21,652 (-38.6%), from €56,134 to €34,482
- Gross operating margin +€523,138
up €523,138 (+235%), from €222,521 to €745,659
- Taxes +€137,424
up €137,424 (+289%), from €47,576 to €185,000
- Depreciation +€12,531
up €12,531 (+38.6%), from €32,438 to €44,969
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €814,174 | €1,222,781 | +€408,607 | +50.2% |
| Fixed assets | 21/28 | €224,184 | €182,551 | -€41,633 | -18.6% |
| Tangible fixed assets | 22/27 | €224,172 | €182,539 | -€41,633 | -18.6% |
| Land and buildings | 22 | €187,949 | €158,592 | -€29,357 | -15.6% |
| Plant, machinery and equipment | 23 | €2,205 | €1,607 | -€598 | -27.1% |
| Furniture and vehicles | 24 | €34,018 | €22,340 | -€11,678 | -34.3% |
| Financial fixed assets | 28 | €12 | €12 | = | 0.0% |
| Current assets | 29/58 | €589,990 | €1,040,230 | +€450,240 | +76.3% |
| Stocks and contracts in progress | 3 | €8,800 | €8,800 | = | 0.0% |
| Stocks | 30/36 | €8,800 | €8,800 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €60,225 | €43,083 | -€17,142 | -28.5% |
| Trade receivables | 40 | €35,711 | €43,083 | +€7,372 | +20.6% |
| Other amounts receivable | 41 | €24,514 | - | -€24,514 | |
| Cash at bank and in hand | 54/58 | €515,480 | €988,347 | +€472,867 | +91.7% |
| Deferred charges and accrued income | 490/1 | €5,485 | - | -€5,485 | |
| Total equity and liabilities | 10/49 | €814,174 | €1,222,781 | +€408,607 | +50.2% |
| Equity | 10/15 | €533,738 | €1,045,389 | +€511,651 | +95.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €511,878 | €1,023,529 | +€511,651 | +100.0% |
| Amounts payable | 17/49 | €280,436 | €177,392 | -€103,044 | -36.7% |
| Amounts payable after more than one year | 17 | €118,470 | €85,619 | -€32,851 | -27.7% |
| Financial debts | 170/4 | €118,470 | €85,619 | -€32,851 | -27.7% |
| Amounts payable within one year | 42/48 | €161,966 | €91,773 | -€70,193 | -43.3% |
| Current portion of amounts payable after more than one year | 42 | €56,134 | €34,482 | -€21,652 | -38.6% |
| Financial debts | 43 | - | €987 | +€987 | |
| Credit institutions | 430/8 | - | €987 | +€987 | |
| Trade debts | 44 | €35,832 | €33,376 | -€2,456 | -6.9% |
| Suppliers | 440/4 | €35,832 | €33,376 | -€2,456 | -6.9% |
| Taxes, remuneration and social security | 45 | - | €22,637 | +€22,637 | |
| Taxes | 450/3 | - | €22,637 | +€22,637 | |
| Other amounts payable | 47/48 | €70,000 | €291 | -€69,709 | -99.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,438 | €44,969 | +€12,531 | +38.6% |
| Gross operating margin | 9900 | €222,521 | €745,659 | +€523,138 | +235% |
| Operating profit (loss) | 9901 | €190,083 | €700,690 | +€510,607 | +269% |
| Financial charges | 65/66B | €5,212 | €4,039 | -€1,173 | -22.5% |
| Recurring financial charges | 65 | €5,212 | €4,039 | -€1,173 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | €184,871 | €696,651 | +€511,780 | +277% |
| Income taxes | 67/77 | €47,576 | €185,000 | +€137,424 | +289% |
| Profit (loss) for the period | 9904 | €137,295 | €511,651 | +€374,356 | +273% |
| Profit (loss) for the period to be appropriated | 9905 | €137,295 | €511,651 | +€374,356 | +273% |
Next steps
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 3 November 2026 via checked.be.