JOERI VERYSER: 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.
JOERI VERYSER
Largest movements
- Cash +€105,254
up €105,254 (+52.8%), from €199,530 to €304,784
mainly Depreciation (+€76,675) and Trade debts (+€58,184)
- Tangible fixed assets -€76,675
down €76,675 (-28.0%), from €273,922 to €197,247
of which Leasing and similar rights: -€59,974
- Stocks and contracts +€19,547
up €19,547 (+29.0%), from €67,373 to €86,921
of which Contracts in progress: +€18,790
- Receivables within one year +€14,457
up €14,457 (+27.6%), from €52,384 to €66,842
of which Trade receivables: +€19,497
- Trade debts +€58,184
up €58,184 (+580%), from €10,038 to €68,222
- Reserves +€52,747
up €52,747 (+14.3%), from €369,008 to €421,755
- Debts after one year -€48,476
down €48,476 (-35.9%), from €135,024 to €86,548
- Accrued charges and deferred income -€15,732
down €15,732 (-79.0%), from €19,921 to €4,189
- Tax, wage and social debts +€14,608
up €14,608 (+272%), from €5,380 to €19,988
of which Taxes: +€14,608
- Gross operating margin +€38,520
up €38,520 (+31.7%), from €121,334 to €159,854
- Taxes +€11,111
up €11,111 (+93.5%), from €11,889 to €23,000
- Depreciation -€2,477
down €2,477 (-3.1%), from €79,151 to €76,675
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 | €599,613 | €662,345 | +€62,732 | +10.5% |
| Fixed assets | 21/28 | €275,362 | €198,687 | -€76,675 | -27.8% |
| Tangible fixed assets | 22/27 | €273,922 | €197,247 | -€76,675 | -28.0% |
| Plant, machinery and equipment | 23 | €10,371 | €6,527 | -€3,844 | -37.1% |
| Furniture and vehicles | 24 | €38,258 | €25,401 | -€12,857 | -33.6% |
| Leasing and similar rights | 25 | €225,293 | €165,318 | -€59,974 | -26.6% |
| Financial fixed assets | 28 | €1,440 | €1,440 | = | 0.0% |
| Current assets | 29/58 | €324,251 | €463,658 | +€139,407 | +43.0% |
| Stocks and contracts in progress | 3 | €67,373 | €86,921 | +€19,547 | +29.0% |
| Stocks | 30/36 | - | €758 | +€758 | |
| Contracts in progress | 37 | €67,373 | €86,163 | +€18,790 | +27.9% |
| Amounts receivable within one year | 40/41 | €52,384 | €66,842 | +€14,457 | +27.6% |
| Trade receivables | 40 | €47,344 | €66,842 | +€19,497 | +41.2% |
| Other amounts receivable | 41 | €5,040 | €0 | -€5,040 | -100% |
| Cash at bank and in hand | 54/58 | €199,530 | €304,784 | +€105,254 | +52.8% |
| Deferred charges and accrued income | 490/1 | €4,964 | €5,112 | +€148 | +3.0% |
| Total equity and liabilities | 10/49 | €599,613 | €662,345 | +€62,732 | +10.5% |
| Equity | 10/15 | €381,408 | €434,155 | +€52,747 | +13.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €369,008 | €421,755 | +€52,747 | +14.3% |
| Distributable reserves | 133 | €369,008 | €421,755 | +€52,747 | +14.3% |
| Amounts payable | 17/49 | €218,205 | €228,190 | +€9,985 | +4.6% |
| Amounts payable after more than one year | 17 | €135,024 | €86,548 | -€48,476 | -35.9% |
| Financial debts | 170/4 | €135,024 | €86,548 | -€48,476 | -35.9% |
| Amounts payable within one year | 42/48 | €63,260 | €137,453 | +€74,193 | +117% |
| Current portion of amounts payable after more than one year | 42 | €47,840 | €48,476 | +€636 | +1.3% |
| Trade debts | 44 | €10,038 | €68,222 | +€58,184 | +580% |
| Suppliers | 440/4 | €10,038 | €68,222 | +€58,184 | +580% |
| Taxes, remuneration and social security | 45 | €5,380 | €19,988 | +€14,608 | +272% |
| Taxes | 450/3 | €2,380 | €16,988 | +€14,608 | +614% |
| Remuneration and social security | 454/9 | €3,000 | €3,000 | = | 0.0% |
| Other amounts payable | 47/48 | €2 | €768 | +€766 | +42,556% |
| Accrued charges and deferred income | 492/3 | €19,921 | €4,189 | -€15,732 | -79.0% |
| Non-recurring operating income | 76A | €79 | €406 | +€328 | +416% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,151 | €76,675 | -€2,477 | -3.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €445 | +€445 | |
| Other operating charges | 640/8 | €5,258 | €4,898 | -€360 | -6.9% |
| Gross operating margin | 9900 | €121,334 | €159,854 | +€38,520 | +31.7% |
| Operating profit (loss) | 9901 | €36,925 | €77,837 | +€40,912 | +111% |
| Financial income | 75/76B | €913 | €768 | -€145 | -15.9% |
| Recurring financial income | 75 | €913 | €768 | -€145 | -15.9% |
| Financial charges | 65/66B | €3,553 | €2,859 | -€694 | -19.5% |
| Recurring financial charges | 65 | €3,553 | €2,859 | -€694 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €34,285 | €75,746 | +€41,462 | +121% |
| Income taxes | 67/77 | €11,889 | €23,000 | +€11,111 | +93.5% |
| Profit (loss) for the period | 9904 | €22,396 | €52,747 | +€30,351 | +136% |
| Profit (loss) for the period to be appropriated | 9905 | €22,396 | €52,747 | +€30,351 | +136% |
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 27 October 2026 via checked.be.