JEF VERELST: what changed
Two fiscal 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.
JEF VERELST
Largest movements
- Tangible fixed assets +€19,030
up €19,030 (+29.1%), from €65,401 to €84,431
of which Furniture and vehicles: +€13,938
- Cash +€15,481
up €15,481 (+16.7%), from €92,909 to €108,391
mainly Net result for the year (+€30,491) and Depreciation (+€24,799)
- Receivables within one year -€6,101
down €6,101 (-54.2%), from €11,262 to €5,161
of which Other amounts receivable: -€7,659
- Reserves +€30,491
up €30,491 (+95.6%), from €31,886 to €62,377
of which Distributable reserves: +€32,350
- Trade debts -€2,337
down €2,337 (-44.3%), from €5,277 to €2,941
- Gross operating margin +€18,435
up €18,435 (+18.3%), from €100,888 to €119,322
- Taxes +€7,489
up €7,489 (+94.6%), from €7,920 to €15,410
- Depreciation +€2,373
up €2,373 (+10.6%), from €22,426 to €24,799
- Other operating charges +€2,184
up €2,184 (+301.3%), from €725 to €2,910
- Staff costs +€1,401
up €1,401 (+3.2%), from €44,312 to €45,713
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.
Cash bridge derived
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 | €173,463 | €202,952 | +€29,488 | +17.0% |
| Fixed assets | 21/28 | €65,566 | €84,596 | +€19,030 | +29.0% |
| Tangible fixed assets | 22/27 | €65,401 | €84,431 | +€19,030 | +29.1% |
| Land and buildings | 22 | €3,334 | €2,925 | -€409 | -12.3% |
| Plant, machinery and equipment | 23 | €19,501 | €25,002 | +€5,501 | +28.2% |
| Furniture and vehicles | 24 | €42,566 | €56,504 | +€13,938 | +32.7% |
| Financial fixed assets | 28 | €165 | €165 | = | 0.0% |
| Current assets | 29/58 | €107,898 | €118,356 | +€10,458 | +9.7% |
| Amounts receivable within one year | 40/41 | €11,262 | €5,161 | -€6,101 | -54.2% |
| Trade receivables | 40 | €2,159 | €3,717 | +€1,559 | +72.2% |
| Other amounts receivable | 41 | €9,104 | €1,444 | -€7,659 | -84.1% |
| Cash at bank and in hand | 54/58 | €92,909 | €108,391 | +€15,481 | +16.7% |
| Deferred charges and accrued income | 490/1 | €3,726 | €4,804 | +€1,078 | +28.9% |
| Total equity and liabilities | 10/49 | €173,463 | €202,952 | +€29,488 | +17.0% |
| Equity | 10/15 | €166,013 | €196,504 | +€30,491 | +18.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €31,886 | €62,377 | +€30,491 | +95.6% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Other | 1319 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | €30,027 | €62,377 | +€32,350 | +107.7% |
| Profit (loss) carried forward | 14 | €115,535 | €115,535 | = | 0.0% |
| Amounts payable | 17/49 | €7,450 | €6,448 | -€1,003 | -13.5% |
| Amounts payable within one year | 42/48 | €7,450 | €6,448 | -€1,003 | -13.5% |
| Trade debts | 44 | €5,277 | €2,941 | -€2,337 | -44.3% |
| Suppliers | 440/4 | €5,277 | €2,941 | -€2,337 | -44.3% |
| Taxes, remuneration and social security | 45 | €33 | €332 | +€299 | +916.3% |
| Taxes | 450/3 | €33 | €332 | +€299 | +916.3% |
| Other amounts payable | 47/48 | €2,140 | €3,175 | +€1,035 | +48.4% |
| Remuneration, social security and pensions | 62 | €44,312 | €45,713 | +€1,401 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,426 | €24,799 | +€2,373 | +10.6% |
| Other operating charges | 640/8 | €725 | €2,910 | +€2,184 | +301.3% |
| Non-recurring operating charges | 66A | €7,128 | - | -€7,128 | |
| Gross operating margin | 9900 | €100,888 | €119,322 | +€18,435 | +18.3% |
| Operating profit (loss) | 9901 | €26,296 | €45,900 | +€19,604 | +74.6% |
| Financial income | 75/76B | €26 | €54 | +€28 | +106.5% |
| Recurring financial income | 75 | €26 | €54 | +€28 | +106.5% |
| Financial charges | 65/66B | €145 | €53 | -€92 | -63.2% |
| Recurring financial charges | 65 | €145 | €53 | -€92 | -63.2% |
| Profit (loss) for the period before taxes | 9903 | €26,177 | €45,900 | +€19,723 | +75.3% |
| Income taxes | 67/77 | €7,920 | €15,410 | +€7,489 | +94.6% |
| Profit (loss) for the period | 9904 | €18,257 | €30,491 | +€12,234 | +67.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,257 | €30,491 | +€12,234 | +67.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.