Lennert Verbiest Projects: 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.
Lennert Verbiest Projects
Largest movements
- Receivables within one year +€54,929
up €54,929 (+201%), from €27,331 to €82,261
of which Other amounts receivable: +€32,180
- Cash -€31,425
down €31,425 (-69.4%), from €45,278 to €13,852
mainly Contributions, distributions and other (-€103,913) and Receivables within one year (-€54,929)
- Tangible fixed assets -€14,711
down €14,711 (-20.3%), from €72,643 to €57,931
of which Leasing and similar rights: -€14,278
- Deferred charges and accrued income -€2,886
down €2,886 (-94.8%), from €3,046 to €160
- Other debts +€54,938
up €54,938 (+1,026%), from €5,356 to €60,294
- Reserves -€31,409
down €31,409 (-74.2%), from €42,312 to €10,903
- Debts after one year -€13,238
down €13,238 (-23.0%), from €57,586 to €44,348
- Trade debts -€3,056
down €3,056 (-57.2%), from €5,345 to €2,289
- Tax, wage and social debts -€1,804
down €1,804 (-8.6%), from €20,975 to €19,172
of which Remuneration and social security: -€2,175
- Gross operating margin +€47,889
up €47,889 (+72.8%), from €65,777 to €113,665
- Depreciation +€13,802
up €13,802 (+1,008%), from €1,369 to €15,171
- Taxes +€6,172
up €6,172 (+44.4%), from €13,909 to €20,081
- Financial charges +€4,076
up €4,076 (+417%), from €977 to €5,053
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 | €148,297 | €154,204 | +€5,907 | +4.0% |
| Fixed assets | 21/28 | €72,643 | €57,931 | -€14,711 | -20.3% |
| Tangible fixed assets | 22/27 | €72,643 | €57,931 | -€14,711 | -20.3% |
| Furniture and vehicles | 24 | €1,799 | €1,366 | -€433 | -24.1% |
| Leasing and similar rights | 25 | €70,843 | €56,565 | -€14,278 | -20.2% |
| Current assets | 29/58 | €75,655 | €96,273 | +€20,618 | +27.3% |
| Amounts receivable within one year | 40/41 | €27,331 | €82,261 | +€54,929 | +201% |
| Trade receivables | 40 | €27,331 | €50,081 | +€22,749 | +83.2% |
| Other amounts receivable | 41 | - | €32,180 | +€32,180 | |
| Cash at bank and in hand | 54/58 | €45,278 | €13,852 | -€31,425 | -69.4% |
| Deferred charges and accrued income | 490/1 | €3,046 | €160 | -€2,886 | -94.8% |
| Total equity and liabilities | 10/49 | €148,297 | €154,204 | +€5,907 | +4.0% |
| Equity | 10/15 | €46,272 | €14,863 | -€31,409 | -67.9% |
| Contributions | 10/11 | €3,960 | €3,960 | = | 0.0% |
| Reserves | 13 | €42,312 | €10,903 | -€31,409 | -74.2% |
| Distributable reserves | 133 | €42,312 | €10,903 | -€31,409 | -74.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €102,025 | €139,341 | +€37,315 | +36.6% |
| Amounts payable after more than one year | 17 | €57,586 | €44,348 | -€13,238 | -23.0% |
| Financial debts | 170/4 | €57,586 | €44,348 | -€13,238 | -23.0% |
| Amounts payable within one year | 42/48 | €44,439 | €94,993 | +€50,553 | +114% |
| Current portion of amounts payable after more than one year | 42 | €12,763 | €13,238 | +€475 | +3.7% |
| Trade debts | 44 | €5,345 | €2,289 | -€3,056 | -57.2% |
| Suppliers | 440/4 | €5,345 | €2,289 | -€3,056 | -57.2% |
| Taxes, remuneration and social security | 45 | €20,975 | €19,172 | -€1,804 | -8.6% |
| Taxes | 450/3 | €18,800 | €19,172 | +€371 | +2.0% |
| Remuneration and social security | 454/9 | €2,175 | €0 | -€2,175 | -100% |
| Other amounts payable | 47/48 | €5,356 | €60,294 | +€54,938 | +1,026% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,369 | €15,171 | +€13,802 | +1,008% |
| Other operating charges | 640/8 | €223 | €1,298 | +€1,075 | +483% |
| Gross operating margin | 9900 | €65,777 | €113,665 | +€47,889 | +72.8% |
| Operating profit (loss) | 9901 | €64,184 | €97,196 | +€33,011 | +51.4% |
| Financial income | 75/76B | €14 | €443 | +€429 | +3,064% |
| Recurring financial income | 75 | €14 | €443 | +€429 | +3,064% |
| Financial charges | 65/66B | €977 | €5,053 | +€4,076 | +417% |
| Recurring financial charges | 65 | €977 | €5,053 | +€4,076 | +417% |
| Profit (loss) for the period before taxes | 9903 | €63,221 | €92,585 | +€29,364 | +46.4% |
| Income taxes | 67/77 | €13,909 | €20,081 | +€6,172 | +44.4% |
| Profit (loss) for the period | 9904 | €49,312 | €72,504 | +€23,192 | +47.0% |
| Profit (loss) for the period to be appropriated | 9905 | €49,312 | €72,504 | +€23,192 | +47.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.