Joost 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.
Joost Veryser
Largest movements
- Cash +€46,827
up €46,827 (+24.5%), from €191,434 to €238,261
mainly Net result for the year (+€175,348) and Depreciation (+€110,650)
- Receivables after one year +€28,866
up €28,866 (+9.1%), from €318,866 to €347,732
of which Other amounts receivable: +€347,732
- Tangible fixed assets -€16,225
down €16,225 (-1.7%), from €959,653 to €943,428
of which Land and buildings: -€61,788
- Debts after one year -€87,335
down €87,335 (-28.7%), from €303,955 to €216,621
- Reserves +€73,835
up €73,835 (+7.3%), from €1.0m to €1.1m
of which Distributable reserves: +€73,835
- Other debts +€49,375
up €49,375 (+71.4%), from €69,141 to €118,516
- Trade debts +€34,067
up €34,067 (+2,617%), from €1,302 to €35,368
- Gross operating margin -€36,978
down €36,978 (-9.1%), from €405,729 to €368,752
- Taxes -€11,868
down €11,868 (-13.2%), from €89,727 to €77,859
- Depreciation +€6,315
up €6,315 (+6.1%), from €104,335 to €110,650
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 | €1,520,240 | €1,576,581 | +€56,342 | +3.7% |
| Fixed assets | 21/28 | €959,653 | €943,428 | -€16,225 | -1.7% |
| Tangible fixed assets | 22/27 | €959,653 | €943,428 | -€16,225 | -1.7% |
| Land and buildings | 22 | €949,446 | €887,657 | -€61,788 | -6.5% |
| Plant, machinery and equipment | 23 | €3,528 | €2,337 | -€1,191 | -33.8% |
| Furniture and vehicles | 24 | €1,588 | €874 | -€714 | -45.0% |
| Other tangible fixed assets | 26 | €5,090 | €52,559 | +€47,469 | +933% |
| Current assets | 29/58 | €560,587 | €633,154 | +€72,567 | +12.9% |
| Amounts receivable after more than one year | 29 | €318,866 | €347,732 | +€28,866 | +9.1% |
| Trade receivables | 290 | €318,866 | €0 | -€318,866 | -100% |
| Other amounts receivable | 291 | - | €347,732 | +€347,732 | |
| Amounts receivable within one year | 40/41 | €12,787 | €3,277 | -€9,511 | -74.4% |
| Trade receivables | 40 | €10,462 | €1,375 | -€9,087 | -86.9% |
| Other amounts receivable | 41 | €2,325 | €1,902 | -€424 | -18.2% |
| Current investments | 50/53 | €37,500 | €37,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €191,434 | €238,261 | +€46,827 | +24.5% |
| Deferred charges and accrued income | 490/1 | €0 | €6,384 | +€6,384 | |
| Total equity and liabilities | 10/49 | €1,520,240 | €1,576,581 | +€56,342 | +3.7% |
| Equity | 10/15 | €1,029,003 | €1,102,837 | +€73,835 | +7.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,016,603 | €1,090,437 | +€73,835 | +7.3% |
| Tax-exempt reserves | 132 | €60,250 | €60,250 | = | 0.0% |
| Distributable reserves | 133 | €956,353 | €1,030,187 | +€73,835 | +7.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €491,237 | €473,744 | -€17,493 | -3.6% |
| Amounts payable after more than one year | 17 | €303,955 | €216,621 | -€87,335 | -28.7% |
| Financial debts | 170/4 | €303,955 | €216,621 | -€87,335 | -28.7% |
| Amounts payable within one year | 42/48 | €185,099 | €255,045 | +€69,946 | +37.8% |
| Current portion of amounts payable after more than one year | 42 | €89,002 | €87,335 | -€1,667 | -1.9% |
| Trade debts | 44 | €1,302 | €35,368 | +€34,067 | +2,617% |
| Suppliers | 440/4 | €1,302 | €35,368 | +€34,067 | +2,617% |
| Taxes, remuneration and social security | 45 | €25,655 | €13,825 | -€11,829 | -46.1% |
| Taxes | 450/3 | €25,655 | €13,825 | -€11,829 | -46.1% |
| Other amounts payable | 47/48 | €69,141 | €118,516 | +€49,375 | +71.4% |
| Accrued charges and deferred income | 492/3 | €2,182 | €2,078 | -€104 | -4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,335 | €110,650 | +€6,315 | +6.1% |
| Other operating charges | 640/8 | €6,196 | €4,864 | -€1,332 | -21.5% |
| Gross operating margin | 9900 | €405,729 | €368,752 | -€36,978 | -9.1% |
| Operating profit (loss) | 9901 | €295,198 | €253,237 | -€41,960 | -14.2% |
| Financial income | 75/76B | €9,049 | €9,003 | -€46 | -0.5% |
| Recurring financial income | 75 | €9,049 | €9,003 | -€46 | -0.5% |
| Financial charges | 65/66B | €10,556 | €9,033 | -€1,522 | -14.4% |
| Recurring financial charges | 65 | €10,556 | €9,033 | -€1,522 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €293,691 | €253,207 | -€40,484 | -13.8% |
| Income taxes | 67/77 | €89,727 | €77,859 | -€11,868 | -13.2% |
| Profit (loss) for the period | 9904 | €203,964 | €175,348 | -€28,616 | -14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €203,964 | €175,348 | -€28,616 | -14.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.