Jo Verbeken: what changed
Jo Verbeken
Largest movements
- Cash -€129,937
down €129,937 (-75.2%), from €172,700 to €42,764
mainly Current investments (-€86,226) and Contributions, distributions and other (-€74,158)
- Current investments +€86,226
up €86,226 (+35.0%), from €246,128 to €332,354
- Receivables within one year -€24,193
down €24,193 (-67.9%), from €35,656 to €11,463
of which Trade receivables: -€19,965
- Tangible fixed assets -€7,459
down €7,459 (-33.6%), from €22,220 to €14,761
- Other debts -€65,800
down €65,800 (-94.9%), from €69,344 to €3,544
- Reserves -€11,168
down €11,168 (-2.5%), from €453,483 to €442,315
of which Distributable reserves: -€11,168
- Gross operating margin +€18,386
up €18,386 (+22.3%), from €82,315 to €100,700
- Taxes +€5,175
up €5,175 (+27.2%), from €19,002 to €24,177
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 | €557,447 | €481,965 | -€75,483 | -13.5% |
| Fixed assets | 21/28 | €102,220 | €94,761 | -€7,459 | -7.3% |
| Tangible fixed assets | 22/27 | €22,220 | €14,761 | -€7,459 | -33.6% |
| Furniture and vehicles | 24 | €22,220 | €14,761 | -€7,459 | -33.6% |
| Financial fixed assets | 28 | €80,000 | €80,000 | = | 0.0% |
| Current assets | 29/58 | €455,227 | €387,203 | -€68,024 | -14.9% |
| Amounts receivable within one year | 40/41 | €35,656 | €11,463 | -€24,193 | -67.9% |
| Trade receivables | 40 | €19,965 | €0 | -€19,965 | -100% |
| Other amounts receivable | 41 | €15,691 | €11,463 | -€4,228 | -26.9% |
| Current investments | 50/53 | €246,128 | €332,354 | +€86,226 | +35.0% |
| Cash at bank and in hand | 54/58 | €172,700 | €42,764 | -€129,937 | -75.2% |
| Deferred charges and accrued income | 490/1 | €743 | €622 | -€121 | -16.2% |
| Total equity and liabilities | 10/49 | €557,447 | €481,965 | -€75,483 | -13.5% |
| Equity | 10/15 | €472,083 | €460,915 | -€11,168 | -2.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €453,483 | €442,315 | -€11,168 | -2.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €453,483 | €442,315 | -€11,168 | -2.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €85,364 | €21,050 | -€64,315 | -75.3% |
| Amounts payable within one year | 42/48 | €81,537 | €17,645 | -€63,892 | -78.4% |
| Trade debts | 44 | €302 | €674 | +€372 | +123% |
| Suppliers | 440/4 | €302 | €674 | +€372 | +123% |
| Taxes, remuneration and social security | 45 | €11,891 | €13,427 | +€1,536 | +12.9% |
| Taxes | 450/3 | €11,891 | €13,427 | +€1,536 | +12.9% |
| Other amounts payable | 47/48 | €69,344 | €3,544 | -€65,800 | -94.9% |
| Accrued charges and deferred income | 492/3 | €3,828 | €3,405 | -€423 | -11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,221 | €16,848 | +€628 | +3.9% |
| Other operating charges | 640/8 | €935 | €991 | +€55 | +5.9% |
| Gross operating margin | 9900 | €82,315 | €100,700 | +€18,386 | +22.3% |
| Operating profit (loss) | 9901 | €65,159 | €82,861 | +€17,703 | +27.2% |
| Financial income | 75/76B | €7,219 | €7,927 | +€708 | +9.8% |
| Recurring financial income | 75 | €7,219 | €7,927 | +€708 | +9.8% |
| Financial charges | 65/66B | €3,938 | €3,621 | -€317 | -8.1% |
| Recurring financial charges | 65 | €3,938 | €3,621 | -€317 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | €68,440 | €87,168 | +€18,727 | +27.4% |
| Income taxes | 67/77 | €19,002 | €24,177 | +€5,175 | +27.2% |
| Profit (loss) for the period | 9904 | €49,438 | €62,991 | +€13,553 | +27.4% |
| Profit (loss) for the period to be appropriated | 9905 | €49,438 | €62,991 | +€13,553 | +27.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.