KATRIEN VERBRUGGHE: 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.
KATRIEN VERBRUGGHE
Largest movements
- Cash +€144,986
up €144,986 (+132.6%), from €109,311 to €254,297
mainly Net result for the year (+€147,465) and Depreciation (+€2,348)
- Reserves +€145,799
up €145,799 (+47.2%), from €308,944 to €454,742
- Gross operating margin +€116,956
up €116,956 (+127.7%), from €91,571 to €208,528
- Taxes +€40,485
up €40,485 (+164.7%), from €24,584 to €65,069
- Financial income +€8,986
up €8,986 (+441.1%), from €2,037 to €11,023
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.
Cash bridge derived
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 | €431,315 | €576,947 | +€145,631 | +33.8% |
| Fixed assets | 21/28 | €5,528 | €7,055 | +€1,527 | +27.6% |
| Intangible fixed assets | 21 | €148 | €0 | -€148 | -100.0% |
| Tangible fixed assets | 22/27 | €5,380 | €7,055 | +€1,675 | +31.1% |
| Land and buildings | 22 | €3,424 | €2,570 | -€854 | -24.9% |
| Furniture and vehicles | 24 | €1,956 | €4,485 | +€2,529 | +129.3% |
| Current assets | 29/58 | €425,788 | €569,892 | +€144,105 | +33.8% |
| Amounts receivable within one year | 40/41 | €5,416 | €5,416 | = | 0.0% |
| Other amounts receivable | 41 | €5,416 | €5,416 | = | 0.0% |
| Current investments | 50/53 | €307,760 | €307,760 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €109,311 | €254,297 | +€144,986 | +132.6% |
| Deferred charges and accrued income | 490/1 | €3,300 | €2,419 | -€881 | -26.7% |
| Total equity and liabilities | 10/49 | €431,315 | €576,947 | +€145,631 | +33.8% |
| Equity | 10/15 | €378,944 | €524,742 | +€145,799 | +38.5% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €308,944 | €454,742 | +€145,799 | +47.2% |
| Distributable reserves | 133 | €308,944 | €454,742 | +€145,799 | +47.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €52,372 | €52,205 | -€167 | -0.3% |
| Amounts payable within one year | 42/48 | €48,979 | €49,575 | +€596 | +1.2% |
| Trade debts | 44 | €1,399 | €156 | -€1,243 | -88.9% |
| Suppliers | 440/4 | €1,399 | €156 | -€1,243 | -88.9% |
| Taxes, remuneration and social security | 45 | €1,050 | €1,777 | +€727 | +69.3% |
| Taxes | 450/3 | €1,050 | €1,777 | +€727 | +69.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €46,530 | €47,642 | +€1,112 | +2.4% |
| Accrued charges and deferred income | 492/3 | €3,393 | €2,630 | -€763 | -22.5% |
| Non-recurring operating income | 76A | - | €234,187 | +€234,187 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,658 | €2,348 | +€691 | +41.7% |
| Other operating charges | 640/8 | €2,600 | €1,951 | -€649 | -25.0% |
| Gross operating margin | 9900 | €91,571 | €208,528 | +€116,956 | +127.7% |
| Operating profit (loss) | 9901 | €87,314 | €204,228 | +€116,915 | +133.9% |
| Financial income | 75/76B | €2,037 | €11,023 | +€8,986 | +441.1% |
| Recurring financial income | 75 | €2,037 | €11,023 | +€8,986 | +441.1% |
| Financial charges | 65/66B | €3,583 | €2,718 | -€864 | -24.1% |
| Recurring financial charges | 65 | €3,583 | €2,718 | -€864 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €85,768 | €212,533 | +€126,765 | +147.8% |
| Income taxes | 67/77 | €24,584 | €65,069 | +€40,485 | +164.7% |
| Profit (loss) for the period | 9904 | €61,184 | €147,465 | +€86,281 | +141.0% |
| Profit (loss) for the period to be appropriated | 9905 | €61,184 | €147,465 | +€86,281 | +141.0% |
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 11 October 2026 via checked.be.