Maarten Verheyen: 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.
Maarten Verheyen
Largest movements
- Cash +€45,225
up €45,225 (+30.6%), from €148,004 to €193,228
mainly Net result for the year (+€80,242) and Other debts (+€80,242)
- Other debts +€80,242
up €80,242 (+623,478%), from €13 to €80,254
- Tax, wage and social debts -€32,209
down €32,209 (-93.8%), from €34,328 to €2,118
of which Taxes: -€32,267
- Taxes -€9,259
down €9,259 (-29.6%), from €31,234 to €21,976
- Gross operating margin -€2,903
down €2,903 (-2.2%), from €131,484 to €128,580
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 | €153,452 | €201,136 | +€47,684 | +31.1% |
| Current assets | 29/58 | €153,452 | €201,136 | +€47,684 | +31.1% |
| Amounts receivable within one year | 40/41 | €3,630 | €5,542 | +€1,912 | +52.7% |
| Trade receivables | 40 | €3,630 | €0 | -€3,630 | -100% |
| Other amounts receivable | 41 | - | €5,542 | +€5,542 | |
| Cash at bank and in hand | 54/58 | €148,004 | €193,228 | +€45,225 | +30.6% |
| Deferred charges and accrued income | 490/1 | €1,818 | €2,365 | +€547 | +30.1% |
| Total equity and liabilities | 10/49 | €153,452 | €201,136 | +€47,684 | +31.1% |
| Equity | 10/15 | €114,201 | €114,201 | = | 0.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €113,201 | €113,201 | = | 0.0% |
| Distributable reserves | 133 | €113,201 | €113,201 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €39,251 | €86,935 | +€47,684 | +121% |
| Amounts payable within one year | 42/48 | €39,251 | €86,935 | +€47,684 | +121% |
| Trade debts | 44 | €4,911 | €4,562 | -€348 | -7.1% |
| Suppliers | 440/4 | €4,911 | €4,562 | -€348 | -7.1% |
| Taxes, remuneration and social security | 45 | €34,328 | €2,118 | -€32,209 | -93.8% |
| Taxes | 450/3 | €32,496 | €229 | -€32,267 | -99.3% |
| Remuneration and social security | 454/9 | €1,832 | €1,889 | +€58 | +3.1% |
| Other amounts payable | 47/48 | €13 | €80,254 | +€80,242 | +623,478% |
| Remuneration, social security and pensions | 62 | €24,466 | €24,763 | +€296 | +1.2% |
| Other operating charges | 640/8 | €524 | €537 | +€12 | +2.4% |
| Gross operating margin | 9900 | €131,484 | €128,580 | -€2,903 | -2.2% |
| Operating profit (loss) | 9901 | €106,493 | €103,281 | -€3,212 | -3.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,044 | €1,064 | +€20 | +1.9% |
| Recurring financial charges | 65 | €1,044 | €1,064 | +€20 | +1.9% |
| Profit (loss) for the period before taxes | 9903 | €105,449 | €102,217 | -€3,231 | -3.1% |
| Income taxes | 67/77 | €31,234 | €21,976 | -€9,259 | -29.6% |
| Profit (loss) for the period | 9904 | €74,214 | €80,242 | +€6,027 | +8.1% |
| Profit (loss) for the period to be appropriated | 9905 | €74,214 | €80,242 | +€6,027 | +8.1% |
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 30 October 2026 via checked.be.