JORBEN VERBEKE: 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.
JORBEN VERBEKE
Largest movements
- Cash +€25,380
up €25,380 (+49.6%), from €51,181 to €76,561
mainly Net result for the year (+€27,928) and Current portion of long-term debt (+€6,945)
- Tangible fixed assets +€12,404
up €12,404 (+2,221%), from €559 to €12,962
- Receivables within one year -€1,151
down €1,151 (-6.5%), from €17,652 to €16,502
of which Other amounts receivable: -€3,964
- Reserves +€27,928
up €27,928 (+44.4%), from €62,951 to €90,880
- Current portion of long-term debt +€6,945
new in 2025: €6,945
- Debts after one year +€1,778
new in 2025: €1,778
- Other debts -€1,228
down €1,228 (-84.5%), from €1,454 to €226
- Trade debts +€1,075
up €1,075 (+254%), from €423 to €1,498
- Gross operating margin +€4,932
up €4,932 (+13.0%), from €37,894 to €42,826
- Depreciation +€2,597
up €2,597 (+901%), from €288 to €2,885
- Taxes +€2,252
up €2,252 (+28.1%), from €8,002 to €10,254
- Financial charges +€590
up €590 (+1,508%), from €39 to €629
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 | €69,829 | €106,580 | +€36,751 | +52.6% |
| Fixed assets | 21/28 | €559 | €12,962 | +€12,404 | +2,221% |
| Tangible fixed assets | 22/27 | €559 | €12,962 | +€12,404 | +2,221% |
| Furniture and vehicles | 24 | €559 | €12,962 | +€12,404 | +2,221% |
| Current assets | 29/58 | €69,270 | €93,618 | +€24,347 | +35.1% |
| Amounts receivable within one year | 40/41 | €17,652 | €16,502 | -€1,151 | -6.5% |
| Trade receivables | 40 | €12,983 | €15,797 | +€2,814 | +21.7% |
| Other amounts receivable | 41 | €4,669 | €705 | -€3,964 | -84.9% |
| Cash at bank and in hand | 54/58 | €51,181 | €76,561 | +€25,380 | +49.6% |
| Deferred charges and accrued income | 490/1 | €437 | €555 | +€118 | +26.9% |
| Total equity and liabilities | 10/49 | €69,829 | €106,580 | +€36,751 | +52.6% |
| Equity | 10/15 | €67,951 | €95,880 | +€27,928 | +41.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €62,951 | €90,880 | +€27,928 | +44.4% |
| Distributable reserves | 133 | €62,951 | €90,880 | +€27,928 | +44.4% |
| Amounts payable | 17/49 | €1,878 | €10,701 | +€8,823 | +470% |
| Amounts payable after more than one year | 17 | - | €1,778 | +€1,778 | |
| Financial debts | 170/4 | - | €1,778 | +€1,778 | |
| Amounts payable within one year | 42/48 | €1,878 | €8,923 | +€7,045 | +375% |
| Current portion of amounts payable after more than one year | 42 | - | €6,945 | +€6,945 | |
| Trade debts | 44 | €423 | €1,498 | +€1,075 | +254% |
| Suppliers | 440/4 | €423 | €1,498 | +€1,075 | +254% |
| Taxes, remuneration and social security | 45 | - | €254 | +€254 | |
| Taxes | 450/3 | - | €254 | +€254 | |
| Other amounts payable | 47/48 | €1,454 | €226 | -€1,228 | -84.5% |
| Remuneration, social security and pensions | 62 | €565 | €317 | -€248 | -43.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €288 | €2,885 | +€2,597 | +901% |
| Other operating charges | 640/8 | €421 | €813 | +€392 | +93.2% |
| Gross operating margin | 9900 | €37,894 | €42,826 | +€4,932 | +13.0% |
| Operating profit (loss) | 9901 | €36,620 | €38,810 | +€2,190 | +6.0% |
| Financial income | 75/76B | €0 | €0 | -€0 | -80.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -80.0% |
| Financial charges | 65/66B | €39 | €629 | +€590 | +1,508% |
| Recurring financial charges | 65 | €39 | €629 | +€590 | +1,508% |
| Profit (loss) for the period before taxes | 9903 | €36,581 | €38,182 | +€1,601 | +4.4% |
| Income taxes | 67/77 | €8,002 | €10,254 | +€2,252 | +28.1% |
| Profit (loss) for the period | 9904 | €28,579 | €27,928 | -€651 | -2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €28,579 | €27,928 | -€651 | -2.3% |
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 31 October 2026 via checked.be.