J. VERSCHOREN: 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.
J. VERSCHOREN
Largest movements
- Tangible fixed assets -€21,891
down €21,891 (-25.9%), from €84,370 to €62,479
of which Furniture and vehicles: -€22,889
- Receivables within one year +€13,981
up €13,981 (+34.7%), from €40,267 to €54,248
of which Trade receivables: +€11,361
- Debts after one year -€10,017
down €10,017 (-33.0%), from €30,357 to €20,340
- Other debts -€7,478
down €7,478 (-2.3%), from €322,137 to €314,659
- Tax, wage and social debts +€5,781
up €5,781 (+1,907%), from €303 to €6,084
- Profit (loss) carried forward +€3,014
up €3,014 (+0.8%), from -€381,841 to -€378,827
- Gross operating margin +€135,658
up €135,658, from -€106,731 to €28,928
- Other operating charges -€2,518
down €2,518 (-82.9%), from €3,037 to €520
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 | €164,835 | €157,253 | -€7,581 | -4.6% |
| Fixed assets | 21/28 | €106,870 | €84,979 | -€21,891 | -20.5% |
| Tangible fixed assets | 22/27 | €84,370 | €62,479 | -€21,891 | -25.9% |
| Plant, machinery and equipment | 23 | - | €997 | +€997 | |
| Furniture and vehicles | 24 | €84,370 | €61,481 | -€22,889 | -27.1% |
| Financial fixed assets | 28 | €22,500 | €22,500 | = | 0.0% |
| Current assets | 29/58 | €57,964 | €72,274 | +€14,310 | +24.7% |
| Amounts receivable within one year | 40/41 | €40,267 | €54,248 | +€13,981 | +34.7% |
| Trade receivables | 40 | €1,782 | €13,143 | +€11,361 | +637% |
| Other amounts receivable | 41 | €38,485 | €41,105 | +€2,619 | +6.8% |
| Cash at bank and in hand | 54/58 | €14,450 | €14,761 | +€311 | +2.2% |
| Deferred charges and accrued income | 490/1 | €3,247 | €3,266 | +€19 | +0.6% |
| Total equity and liabilities | 10/49 | €164,835 | €157,253 | -€7,581 | -4.6% |
| Equity | 10/15 | -€198,841 | -€195,826 | +€3,014 | +1.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €170,600 | €170,600 | = | 0.0% |
| Distributable reserves | 133 | €170,600 | €170,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€381,841 | -€378,827 | +€3,014 | +0.8% |
| Amounts payable | 17/49 | €363,675 | €353,080 | -€10,596 | -2.9% |
| Amounts payable after more than one year | 17 | €30,357 | €20,340 | -€10,017 | -33.0% |
| Financial debts | 170/4 | €30,357 | €20,340 | -€10,017 | -33.0% |
| Amounts payable within one year | 42/48 | €333,318 | €332,740 | -€578 | -0.2% |
| Current portion of amounts payable after more than one year | 42 | €9,630 | €10,017 | +€387 | +4.0% |
| Trade debts | 44 | €1,248 | €1,980 | +€732 | +58.6% |
| Suppliers | 440/4 | €1,248 | €1,980 | +€732 | +58.6% |
| Taxes, remuneration and social security | 45 | €303 | €6,084 | +€5,781 | +1,907% |
| Taxes | 450/3 | €303 | €6,084 | +€5,781 | +1,907% |
| Other amounts payable | 47/48 | €322,137 | €314,659 | -€7,478 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,889 | €23,187 | +€298 | +1.3% |
| Other operating charges | 640/8 | €3,037 | €520 | -€2,518 | -82.9% |
| Gross operating margin | 9900 | -€106,731 | €28,928 | +€135,658 | |
| Operating profit (loss) | 9901 | -€132,657 | €5,221 | +€137,878 | |
| Financial charges | 65/66B | €2,017 | €1,605 | -€412 | -20.4% |
| Recurring financial charges | 65 | €2,017 | €1,605 | -€412 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | -€134,674 | €3,616 | +€138,290 | |
| Income taxes | 67/77 | €303 | €602 | +€299 | +98.7% |
| Profit (loss) for the period | 9904 | -€134,977 | €3,014 | +€137,991 | |
| Profit (loss) for the period to be appropriated | 9905 | -€134,977 | €3,014 | +€137,991 |
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 19 October 2026 via checked.be.