Marie Verbeke: 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.
Marie Verbeke
Largest movements
- Cash +€42,162
up €42,162 (+69.2%), from €60,960 to €103,122
mainly Net result for the year (+€50,580) and Tax, wage and social debts (+€7,047)
- Tangible fixed assets +€7,643
up €7,643 (+2,124%), from €360 to €8,003
of which Other tangible fixed assets: +€7,817
- Receivables within one year +€7,100
up €7,100 (+54.7%), from €12,975 to €20,076
of which Other amounts receivable: +€20,076
- Deferred charges and accrued income +€1,615
up €1,615 (+300%), from €537 to €2,152
- Reserves +€50,580
up €50,580 (+88.2%), from €57,333 to €107,914
- Tax, wage and social debts +€7,047
up €7,047 (+52.7%), from €13,379 to €20,425
of which Taxes: +€7,047
- Trade debts +€1,695
up €1,695 (+184%), from €920 to €2,614
- Gross operating margin -€10,636
down €10,636 (-13.1%), from €81,383 to €70,746
- Taxes -€3,123
down €3,123 (-13.7%), from €22,768 to €19,645
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 | €74,833 | €133,353 | +€58,521 | +78.2% |
| Fixed assets | 21/28 | €360 | €8,003 | +€7,643 | +2,124% |
| Tangible fixed assets | 22/27 | €360 | €8,003 | +€7,643 | +2,124% |
| Furniture and vehicles | 24 | €360 | €186 | -€174 | -48.2% |
| Other tangible fixed assets | 26 | - | €7,817 | +€7,817 | |
| Current assets | 29/58 | €74,473 | €125,350 | +€50,877 | +68.3% |
| Amounts receivable within one year | 40/41 | €12,975 | €20,076 | +€7,100 | +54.7% |
| Trade receivables | 40 | €12,975 | - | -€12,975 | |
| Other amounts receivable | 41 | €0 | €20,076 | +€20,076 | |
| Cash at bank and in hand | 54/58 | €60,960 | €103,122 | +€42,162 | +69.2% |
| Deferred charges and accrued income | 490/1 | €537 | €2,152 | +€1,615 | +300% |
| Total equity and liabilities | 10/49 | €74,833 | €133,353 | +€58,521 | +78.2% |
| Equity | 10/15 | €59,733 | €110,314 | +€50,580 | +84.7% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Reserves | 13 | €57,333 | €107,914 | +€50,580 | +88.2% |
| Distributable reserves | 133 | €57,333 | €107,914 | +€50,580 | +88.2% |
| Amounts payable | 17/49 | €15,099 | €23,040 | +€7,940 | +52.6% |
| Amounts payable within one year | 42/48 | €15,099 | €23,040 | +€7,940 | +52.6% |
| Trade debts | 44 | €920 | €2,614 | +€1,695 | +184% |
| Suppliers | 440/4 | €920 | €2,614 | +€1,695 | +184% |
| Taxes, remuneration and social security | 45 | €13,379 | €20,425 | +€7,047 | +52.7% |
| Taxes | 450/3 | €13,379 | €20,425 | +€7,047 | +52.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €801 | - | -€801 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €161 | €649 | +€488 | +303% |
| Other operating charges | 640/8 | €946 | €259 | -€688 | -72.7% |
| Non-recurring operating charges | 66A | €171 | €63 | -€108 | -62.9% |
| Gross operating margin | 9900 | €81,383 | €70,746 | -€10,636 | -13.1% |
| Operating profit (loss) | 9901 | €80,104 | €69,775 | -€10,329 | -12.9% |
| Financial income | 75/76B | - | €537 | +€537 | |
| Recurring financial income | 75 | - | €537 | +€537 | |
| Financial charges | 65/66B | €3 | €87 | +€83 | +2,774% |
| Recurring financial charges | 65 | €3 | €87 | +€83 | +2,774% |
| Profit (loss) for the period before taxes | 9903 | €80,101 | €70,226 | -€9,876 | -12.3% |
| Income taxes | 67/77 | €22,768 | €19,645 | -€3,123 | -13.7% |
| Profit (loss) for the period | 9904 | €57,333 | €50,580 | -€6,753 | -11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €57,333 | €50,580 | -€6,753 | -11.8% |
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 29 October 2026 via checked.be.