KARIN VERBIST: 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.
KARIN VERBIST
Largest movements
- Receivables within one year -€16,874
down €16,874 (-100%), from €16,874 to €0
- Cash -€7,952
down €7,952 (-11.9%), from €67,072 to €59,120
mainly Debts after one year (-€25,829) and Investment in fixed assets (net) (-€21,100)
- Tangible fixed assets +€3,736
up €3,736 (+1.6%), from €235,307 to €239,043
of which Furniture and vehicles: +€5,836
- Reserves +€26,360
up €26,360 (+41.0%), from €64,220 to €90,580
- Debts after one year -€25,829
down €25,829 (-14.8%), from €174,508 to €148,679
- Other debts -€18,061
down €18,061 (-60.9%), from €29,652 to €11,591
- Gross operating margin +€38,410
up €38,410 (+136%), from €28,219 to €66,628
- Taxes +€10,081
up €10,081 (+377%), from €2,672 to €12,753
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 | €319,700 | €298,886 | -€20,814 | -6.5% |
| Fixed assets | 21/28 | €235,557 | €239,293 | +€3,736 | +1.6% |
| Tangible fixed assets | 22/27 | €235,307 | €239,043 | +€3,736 | +1.6% |
| Land and buildings | 22 | €233,520 | €231,615 | -€1,905 | -0.8% |
| Furniture and vehicles | 24 | - | €5,836 | +€5,836 | |
| Other tangible fixed assets | 26 | €1,787 | €1,591 | -€196 | -10.9% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €84,143 | €59,593 | -€24,550 | -29.2% |
| Amounts receivable within one year | 40/41 | €16,874 | €0 | -€16,874 | -100% |
| Trade receivables | 40 | €16,874 | €0 | -€16,874 | -100% |
| Cash at bank and in hand | 54/58 | €67,072 | €59,120 | -€7,952 | -11.9% |
| Deferred charges and accrued income | 490/1 | €197 | €473 | +€276 | +140% |
| Total equity and liabilities | 10/49 | €319,700 | €298,886 | -€20,814 | -6.5% |
| Equity | 10/15 | €76,839 | €103,201 | +€26,362 | +34.3% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €64,220 | €90,580 | +€26,360 | +41.0% |
| Distributable reserves | 133 | €64,220 | €90,580 | +€26,360 | +41.0% |
| Profit (loss) carried forward | 14 | €119 | €121 | +€2 | +2.0% |
| Amounts payable | 17/49 | €242,861 | €195,685 | -€47,176 | -19.4% |
| Amounts payable after more than one year | 17 | €174,508 | €148,679 | -€25,829 | -14.8% |
| Financial debts | 170/4 | €174,508 | €148,679 | -€25,829 | -14.8% |
| Amounts payable within one year | 42/48 | €68,353 | €47,006 | -€21,348 | -31.2% |
| Current portion of amounts payable after more than one year | 42 | €25,427 | €25,829 | +€401 | +1.6% |
| Trade debts | 44 | €3,543 | €569 | -€2,974 | -83.9% |
| Suppliers | 440/4 | €3,543 | €569 | -€2,974 | -83.9% |
| Taxes, remuneration and social security | 45 | €9,731 | €9,017 | -€714 | -7.3% |
| Taxes | 450/3 | €9,731 | €9,017 | -€714 | -7.3% |
| Other amounts payable | 47/48 | €29,652 | €11,591 | -€18,061 | -60.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,784 | €17,364 | +€580 | +3.5% |
| Other operating charges | 640/8 | €2,133 | €1,773 | -€359 | -16.9% |
| Gross operating margin | 9900 | €28,219 | €66,628 | +€38,410 | +136% |
| Operating profit (loss) | 9901 | €9,303 | €47,491 | +€38,189 | +411% |
| Financial charges | 65/66B | €2,722 | €2,346 | -€377 | -13.8% |
| Recurring financial charges | 65 | €2,722 | €2,346 | -€377 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €6,580 | €45,145 | +€38,565 | +586% |
| Income taxes | 67/77 | €2,672 | €12,753 | +€10,081 | +377% |
| Profit (loss) for the period | 9904 | €3,908 | €32,392 | +€28,484 | +729% |
| Profit (loss) for the period to be appropriated | 9905 | €3,908 | €32,392 | +€28,484 | +729% |
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 26 October 2026 via checked.be.