N. Verfaellie: 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.
N. Verfaellie
Largest movements
- Cash -€28,489
down €28,489 (-24.8%), from €115,018 to €86,529
mainly Contributions, distributions and other (-€143,005) and Trade debts (-€6,717)
- Receivables within one year -€10,039
down €10,039 (-100%), from €10,039 to €0
of which Trade receivables: -€9,795
- Profit (loss) carried forward -€89,008
down €89,008 (-100%), from €89,008 to €0
- Other debts +€60,898
up €60,898 (+4,292%), from €1,419 to €62,317
- Trade debts -€6,717
down €6,717 (-91.8%), from €7,319 to €602
- Tax, wage and social debts -€3,273
down €3,273 (-12.1%), from €27,133 to €23,860
- Gross operating margin +€23,614
up €23,614 (+49.6%), from €47,610 to €71,224
- Taxes +€4,266
up €4,266 (+40.5%), from €10,541 to €14,807
- Financial income -€1,449
down €1,449 (-100.0%), from €1,449 to €0
- Other operating charges +€781
up €781 (+62.3%), from €1,254 to €2,035
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 | €127,379 | €89,849 | -€37,530 | -29.5% |
| Fixed assets | 21/28 | - | €762 | +€762 | |
| Tangible fixed assets | 22/27 | - | €762 | +€762 | |
| Furniture and vehicles | 24 | - | €762 | +€762 | |
| Current assets | 29/58 | €127,379 | €89,087 | -€38,292 | -30.1% |
| Amounts receivable within one year | 40/41 | €10,039 | €0 | -€10,039 | -100% |
| Trade receivables | 40 | €9,795 | €0 | -€9,795 | -100% |
| Other amounts receivable | 41 | €243 | €0 | -€243 | -100% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €115,018 | €86,529 | -€28,489 | -24.8% |
| Deferred charges and accrued income | 490/1 | €2,322 | €2,558 | +€236 | +10.1% |
| Total equity and liabilities | 10/49 | €127,379 | €89,849 | -€37,530 | -29.5% |
| Equity | 10/15 | €91,508 | €2,500 | -€89,008 | -97.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €89,008 | €0 | -€89,008 | -100% |
| Amounts payable | 17/49 | €35,871 | €87,349 | +€51,478 | +144% |
| Amounts payable within one year | 42/48 | €35,871 | €86,779 | +€50,908 | +142% |
| Trade debts | 44 | €7,319 | €602 | -€6,717 | -91.8% |
| Suppliers | 440/4 | €7,319 | €602 | -€6,717 | -91.8% |
| Taxes, remuneration and social security | 45 | €27,133 | €23,860 | -€3,273 | -12.1% |
| Taxes | 450/3 | €27,133 | €23,860 | -€3,273 | -12.1% |
| Other amounts payable | 47/48 | €1,419 | €62,317 | +€60,898 | +4,292% |
| Accrued charges and deferred income | 492/3 | €0 | €570 | +€570 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €81 | +€81 | |
| Other operating charges | 640/8 | €1,254 | €2,035 | +€781 | +62.3% |
| Gross operating margin | 9900 | €47,610 | €71,224 | +€23,614 | +49.6% |
| Operating profit (loss) | 9901 | €46,356 | €69,109 | +€22,752 | +49.1% |
| Financial income | 75/76B | €1,449 | €0 | -€1,449 | -100.0% |
| Recurring financial income | 75 | €1,449 | €0 | -€1,449 | -100.0% |
| Financial charges | 65/66B | €233 | €305 | +€72 | +31.0% |
| Recurring financial charges | 65 | €233 | €305 | +€72 | +31.0% |
| Profit (loss) for the period before taxes | 9903 | €47,573 | €68,804 | +€21,231 | +44.6% |
| Income taxes | 67/77 | €10,541 | €14,807 | +€4,266 | +40.5% |
| Profit (loss) for the period | 9904 | €37,032 | €53,997 | +€16,965 | +45.8% |
| Profit (loss) for the period to be appropriated | 9905 | €37,032 | €53,997 | +€16,965 | +45.8% |
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 20 October 2026 via checked.be.