NICO VERSCHELDEN: 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.
NICO VERSCHELDEN
Largest movements
- Stocks and contracts -€275,574
down €275,574 (-100%), from €275,574 to €0
- Receivables within one year +€270,930
up €270,930 (+1,150%), from €23,549 to €294,479
of which Other amounts receivable: +€249,800
- Cash +€43,857
up €43,857 (+71.8%), from €61,060 to €104,917
mainly Stocks and contracts (+€275,574) and Net result for the year (+€61,846)
- Tangible fixed assets +€22,178
up €22,178 (+374%), from €5,935 to €28,114
of which Furniture and vehicles: +€23,964
- Reserves +€60,180
up €60,180 (+24.7%), from €243,719 to €303,899
- Other debts -€20,845
down €20,845 (-21.2%), from €98,213 to €77,368
- Trade debts +€18,517
up €18,517 (+253%), from €7,323 to €25,840
- Tax, wage and social debts +€5,957
up €5,957 (+111%), from €5,381 to €11,338
- Gross operating margin +€70,335
up €70,335 (+234%), from €30,060 to €100,394
- Taxes +€18,051
up €18,051 (+300%), from €6,015 to €24,065
- Write-downs +€6,125
up €6,125 (+64.8%), from -€9,451 to -€3,327
- Other operating charges -€5,393
down €5,393 (-51.8%), from €10,416 to €5,023
- Depreciation +€4,107
up €4,107 (+230%), from €1,785 to €5,892
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 | €368,719 | €431,033 | +€62,314 | +16.9% |
| Fixed assets | 21/28 | €5,935 | €28,114 | +€22,178 | +374% |
| Tangible fixed assets | 22/27 | €5,935 | €28,114 | +€22,178 | +374% |
| Plant, machinery and equipment | 23 | €855 | €564 | -€291 | -34.0% |
| Furniture and vehicles | 24 | - | €23,964 | +€23,964 | |
| Other tangible fixed assets | 26 | €5,080 | €3,586 | -€1,494 | -29.4% |
| Current assets | 29/58 | €362,784 | €402,919 | +€40,135 | +11.1% |
| Stocks and contracts in progress | 3 | €275,574 | €0 | -€275,574 | -100% |
| Stocks | 30/36 | €275,574 | €0 | -€275,574 | -100% |
| Amounts receivable within one year | 40/41 | €23,549 | €294,479 | +€270,930 | +1,150% |
| Trade receivables | 40 | €20,910 | €42,040 | +€21,130 | +101% |
| Other amounts receivable | 41 | €2,640 | €252,439 | +€249,800 | +9,464% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €61,060 | €104,917 | +€43,857 | +71.8% |
| Deferred charges and accrued income | 490/1 | €2,600 | €3,523 | +€923 | +35.5% |
| Total equity and liabilities | 10/49 | €368,719 | €431,033 | +€62,314 | +16.9% |
| Equity | 10/15 | €249,919 | €310,099 | +€60,180 | +24.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €243,719 | €303,899 | +€60,180 | +24.7% |
| Distributable reserves | 133 | €243,719 | €303,899 | +€60,180 | +24.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €118,800 | €120,933 | +€2,134 | +1.8% |
| Amounts payable within one year | 42/48 | €110,917 | €114,547 | +€3,629 | +3.3% |
| Trade debts | 44 | €7,323 | €25,840 | +€18,517 | +253% |
| Suppliers | 440/4 | €7,323 | €25,840 | +€18,517 | +253% |
| Taxes, remuneration and social security | 45 | €5,381 | €11,338 | +€5,957 | +111% |
| Taxes | 450/3 | €5,381 | €11,338 | +€5,957 | +111% |
| Other amounts payable | 47/48 | €98,213 | €77,368 | -€20,845 | -21.2% |
| Accrued charges and deferred income | 492/3 | €7,883 | €6,387 | -€1,496 | -19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,785 | €5,892 | +€4,107 | +230% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€9,451 | -€3,327 | +€6,125 | +64.8% |
| Other operating charges | 640/8 | €10,416 | €5,023 | -€5,393 | -51.8% |
| Gross operating margin | 9900 | €30,060 | €100,394 | +€70,335 | +234% |
| Operating profit (loss) | 9901 | €27,310 | €92,806 | +€65,496 | +240% |
| Financial income | 75/76B | €821 | €17 | -€804 | -97.9% |
| Recurring financial income | 75 | €821 | €17 | -€804 | -97.9% |
| Financial charges | 65/66B | €8,782 | €6,912 | -€1,870 | -21.3% |
| Recurring financial charges | 65 | €8,782 | €6,912 | -€1,870 | -21.3% |
| Profit (loss) for the period before taxes | 9903 | €19,349 | €85,911 | +€66,563 | +344% |
| Income taxes | 67/77 | €6,015 | €24,065 | +€18,051 | +300% |
| Profit (loss) for the period | 9904 | €13,334 | €61,846 | +€48,512 | +364% |
| Profit (loss) for the period to be appropriated | 9905 | €13,334 | €61,846 | +€48,512 | +364% |
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 14 October 2026 via checked.be.