Katrien Verpoest: 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 Verpoest
Largest movements
- Tangible fixed assets +€38,309
new in 2025: €38,309
- Receivables within one year +€30,348
up €30,348 (+21,434%), from €142 to €30,490
- Cash -€11,783
down €11,783 (-26.4%), from €44,637 to €32,854
mainly Investment in fixed assets (net) (-€45,755) and Receivables within one year (-€30,348)
- Receivables after one year -€10,000
down €10,000 (-100%), from €10,000 to €0
- Reserves +€54,398
up €54,398 (+123%), from €44,372 to €98,770
- Tax, wage and social debts -€7,437
down €7,437 (-100%), from €7,437 to €0
- Depreciation +€7,446
new in 2025: €7,446
- Gross operating margin +€4,807
up €4,807 (+6.7%), from €71,459 to €76,266
- Taxes -€3,074
down €3,074 (-17.6%), from €17,437 to €14,363
- Other operating charges -€1,522
down €1,522 (-59.1%), from €2,577 to €1,055
- Financial income +€1,034
up €1,034 (+6,154%), from €17 to €1,051
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 | €54,811 | €102,003 | +€47,193 | +86.1% |
| Fixed assets | 21/28 | - | €38,309 | +€38,309 | |
| Tangible fixed assets | 22/27 | - | €38,309 | +€38,309 | |
| Furniture and vehicles | 24 | - | €38,309 | +€38,309 | |
| Current assets | 29/58 | €54,811 | €63,694 | +€8,884 | +16.2% |
| Amounts receivable after more than one year | 29 | €10,000 | €0 | -€10,000 | -100% |
| Other amounts receivable | 291 | €10,000 | €0 | -€10,000 | -100% |
| Amounts receivable within one year | 40/41 | €142 | €30,490 | +€30,348 | +21,434% |
| Other amounts receivable | 41 | €142 | €30,490 | +€30,348 | +21,434% |
| Cash at bank and in hand | 54/58 | €44,637 | €32,854 | -€11,783 | -26.4% |
| Deferred charges and accrued income | 490/1 | €32 | €351 | +€319 | +996% |
| Total equity and liabilities | 10/49 | €54,811 | €102,003 | +€47,193 | +86.1% |
| Equity | 10/15 | €47,372 | €101,770 | +€54,398 | +115% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €44,372 | €98,770 | +€54,398 | +123% |
| Distributable reserves | 133 | €44,372 | €98,770 | +€54,398 | +123% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €7,439 | €233 | -€7,206 | -96.9% |
| Amounts payable within one year | 42/48 | €7,439 | €233 | -€7,206 | -96.9% |
| Trade debts | 44 | €1 | €233 | +€232 | +15,864% |
| Suppliers | 440/4 | €1 | €233 | +€232 | +15,864% |
| Taxes, remuneration and social security | 45 | €7,437 | €0 | -€7,437 | -100% |
| Taxes | 450/3 | €7,437 | €0 | -€7,437 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €7,446 | +€7,446 | |
| Other operating charges | 640/8 | €2,577 | €1,055 | -€1,522 | -59.1% |
| Gross operating margin | 9900 | €71,459 | €76,266 | +€4,807 | +6.7% |
| Operating profit (loss) | 9901 | €68,882 | €67,765 | -€1,118 | -1.6% |
| Financial income | 75/76B | €17 | €1,051 | +€1,034 | +6,154% |
| Recurring financial income | 75 | €17 | €1,051 | +€1,034 | +6,154% |
| Financial charges | 65/66B | €90 | €54 | -€36 | -40.0% |
| Recurring financial charges | 65 | €90 | €54 | -€36 | -40.0% |
| Profit (loss) for the period before taxes | 9903 | €68,809 | €68,762 | -€47 | -0.1% |
| Income taxes | 67/77 | €17,437 | €14,363 | -€3,074 | -17.6% |
| Profit (loss) for the period | 9904 | €51,372 | €54,398 | +€3,026 | +5.9% |
| Profit (loss) for the period to be appropriated | 9905 | €51,372 | €54,398 | +€3,026 | +5.9% |
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 21 October 2026 via checked.be.