JASPER VERSTAEN: 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.
JASPER VERSTAEN
Largest movements
- Receivables within one year -€11,775
down €11,775 (-63.0%), from €18,702 to €6,927
of which Trade receivables: -€6,412
- Cash +€9,534
up €9,534 (+121%), from €7,880 to €17,414
mainly Depreciation (+€15,221) and Receivables within one year (+€11,775)
- Tangible fixed assets +€6,342
up €6,342 (+34.2%), from €18,568 to €24,910
of which Plant, machinery and equipment: +€14,007
- Stocks and contracts -€1,000
down €1,000 (-44.4%), from €2,250 to €1,250
- Deferred charges and accrued income +€713
up €713 (+96.8%), from €737 to €1,450
- Profit (loss) carried forward +€5,546
up €5,546 (+25.6%), from €21,693 to €27,238
- Current portion of long-term debt -€3,757
down €3,757 (-39.0%), from €9,639 to €5,881
- Tax, wage and social debts +€2,270
up €2,270 (+676%), from €336 to €2,606
- Other debts -€1,584
down €1,584 (-23.6%), from €6,716 to €5,133
- Trade debts +€1,339
up €1,339 (+52.8%), from €2,536 to €3,875
- Gross operating margin +€2,736
up €2,736 (+12.3%), from €22,319 to €25,055
- Financial charges -€606
down €606 (-47.7%), from €1,272 to €665
- Taxes +€503
up €503 (+46.3%), from €1,087 to €1,590
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 | €48,137 | €51,951 | +€3,814 | +7.9% |
| Fixed assets | 21/28 | €18,568 | €24,910 | +€6,342 | +34.2% |
| Intangible fixed assets | 21 | €1 | €0 | -€0 | -35.1% |
| Tangible fixed assets | 22/27 | €18,568 | €24,910 | +€6,342 | +34.2% |
| Plant, machinery and equipment | 23 | €7,195 | €21,201 | +€14,007 | +195% |
| Furniture and vehicles | 24 | €11,373 | €3,708 | -€7,665 | -67.4% |
| Current assets | 29/58 | €29,569 | €27,041 | -€2,528 | -8.5% |
| Stocks and contracts in progress | 3 | €2,250 | €1,250 | -€1,000 | -44.4% |
| Stocks | 30/36 | €2,250 | €1,250 | -€1,000 | -44.4% |
| Amounts receivable within one year | 40/41 | €18,702 | €6,927 | -€11,775 | -63.0% |
| Trade receivables | 40 | €11,930 | €5,517 | -€6,412 | -53.8% |
| Other amounts receivable | 41 | €6,773 | €1,410 | -€5,363 | -79.2% |
| Cash at bank and in hand | 54/58 | €7,880 | €17,414 | +€9,534 | +121% |
| Deferred charges and accrued income | 490/1 | €737 | €1,450 | +€713 | +96.8% |
| Total equity and liabilities | 10/49 | €48,137 | €51,951 | +€3,814 | +7.9% |
| Equity | 10/15 | €24,193 | €29,738 | +€5,546 | +22.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,693 | €27,238 | +€5,546 | +25.6% |
| Amounts payable | 17/49 | €23,945 | €22,213 | -€1,732 | -7.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €19,227 | €17,495 | -€1,732 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €9,639 | €5,881 | -€3,757 | -39.0% |
| Trade debts | 44 | €2,536 | €3,875 | +€1,339 | +52.8% |
| Suppliers | 440/4 | €2,536 | €3,875 | +€1,339 | +52.8% |
| Taxes, remuneration and social security | 45 | €336 | €2,606 | +€2,270 | +676% |
| Taxes | 450/3 | €336 | €2,606 | +€2,270 | +676% |
| Other amounts payable | 47/48 | €6,716 | €5,133 | -€1,584 | -23.6% |
| Accrued charges and deferred income | 492/3 | €4,718 | €4,718 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,996 | €15,221 | +€225 | +1.5% |
| Other operating charges | 640/8 | €1,139 | €1,233 | +€93 | +8.2% |
| Gross operating margin | 9900 | €22,319 | €25,055 | +€2,736 | +12.3% |
| Operating profit (loss) | 9901 | €6,183 | €8,601 | +€2,418 | +39.1% |
| Financial income | 75/76B | €10 | €1 | -€10 | -94.2% |
| Recurring financial income | 75 | €10 | €1 | -€10 | -94.2% |
| Financial charges | 65/66B | €1,272 | €665 | -€606 | -47.7% |
| Recurring financial charges | 65 | €1,272 | €665 | -€606 | -47.7% |
| Profit (loss) for the period before taxes | 9903 | €4,922 | €7,936 | +€3,014 | +61.2% |
| Income taxes | 67/77 | €1,087 | €1,590 | +€503 | +46.3% |
| Profit (loss) for the period | 9904 | €3,835 | €6,346 | +€2,511 | +65.5% |
| Profit (loss) for the period to be appropriated | 9905 | €3,835 | €6,346 | +€2,511 | +65.5% |
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 28 October 2026 via checked.be.