Joyce 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.
Joyce Verbeke
Largest movements
- Cash +€33,158
up €33,158 (+78.2%), from €42,397 to €75,555
mainly Net result for the year (+€80,381) and Trade debts (+€7,638)
- Profit (loss) carried forward +€80,381
up €80,381 (+76.1%), from €105,581 to €185,963
- Debts after one year -€61,617
down €61,617 (-18.0%), from €342,384 to €280,767
- Trade debts +€7,638
up €7,638 (+2,275%), from €336 to €7,973
- Gross operating margin -€24,024
down €24,024 (-52.4%), from €45,891 to €21,866
- Financial income -€9,434
down €9,434 (-11.0%), from €86,151 to €76,717
- Taxes -€1,235
down €1,235 (-22.4%), from €5,522 to €4,287
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 | €640,518 | €667,831 | +€27,313 | +4.3% |
| Fixed assets | 21/28 | €585,458 | €585,458 | = | 0.0% |
| Financial fixed assets | 28 | €585,458 | €585,458 | = | 0.0% |
| Current assets | 29/58 | €55,060 | €82,373 | +€27,313 | +49.6% |
| Amounts receivable within one year | 40/41 | €11,174 | €5,000 | -€6,174 | -55.3% |
| Trade receivables | 40 | €11,132 | - | -€11,132 | |
| Other amounts receivable | 41 | €42 | €5,000 | +€4,958 | +11,805% |
| Cash at bank and in hand | 54/58 | €42,397 | €75,555 | +€33,158 | +78.2% |
| Deferred charges and accrued income | 490/1 | €1,489 | €1,818 | +€329 | +22.1% |
| Total equity and liabilities | 10/49 | €640,518 | €667,831 | +€27,313 | +4.3% |
| Equity | 10/15 | €108,581 | €188,963 | +€80,381 | +74.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €105,581 | €185,963 | +€80,381 | +76.1% |
| Amounts payable | 17/49 | €531,937 | €478,868 | -€53,069 | -10.0% |
| Amounts payable after more than one year | 17 | €342,384 | €280,767 | -€61,617 | -18.0% |
| Financial debts | 170/4 | €342,384 | €280,767 | -€61,617 | -18.0% |
| Amounts payable within one year | 42/48 | €189,553 | €198,101 | +€8,549 | +4.5% |
| Current portion of amounts payable after more than one year | 42 | €59,538 | €61,617 | +€2,079 | +3.5% |
| Trade debts | 44 | €336 | €7,973 | +€7,638 | +2,275% |
| Suppliers | 440/4 | €336 | €7,973 | +€7,638 | +2,275% |
| Taxes, remuneration and social security | 45 | €14,221 | €9,629 | -€4,592 | -32.3% |
| Taxes | 450/3 | €11,617 | €9,487 | -€2,129 | -18.3% |
| Remuneration and social security | 454/9 | €2,604 | €142 | -€2,462 | -94.6% |
| Other amounts payable | 47/48 | €115,458 | €118,882 | +€3,424 | +3.0% |
| Other operating charges | 640/8 | €1,079 | €778 | -€301 | -27.9% |
| Non-recurring operating charges | 66A | €6,750 | - | -€6,750 | |
| Gross operating margin | 9900 | €45,891 | €21,866 | -€24,024 | -52.4% |
| Operating profit (loss) | 9901 | €38,062 | €21,088 | -€16,973 | -44.6% |
| Financial income | 75/76B | €86,151 | €76,717 | -€9,434 | -11.0% |
| Recurring financial income | 75 | €86,151 | €76,717 | -€9,434 | -11.0% |
| Financial charges | 65/66B | €13,109 | €13,136 | +€27 | +0.2% |
| Recurring financial charges | 65 | €13,109 | €13,136 | +€27 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €111,103 | €84,669 | -€26,435 | -23.8% |
| Income taxes | 67/77 | €5,522 | €4,287 | -€1,235 | -22.4% |
| Profit (loss) for the period | 9904 | €105,581 | €80,381 | -€25,200 | -23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €105,581 | €80,381 | -€25,200 | -23.9% |
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 13 October 2026 via checked.be.