OSWALD VERDUYN: 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.
OSWALD VERDUYN
Largest movements
- Cash +€372,198
up €372,198 (+117%), from €318,821 to €691,020
mainly Net result for the year (+€239,316) and Tax, wage and social debts (+€117,055)
- Tangible fixed assets -€12,247
down €12,247 (-7.0%), from €174,642 to €162,395
- Reserves +€239,309
up €239,309 (+1,089%), from €21,976 to €261,285
of which Distributable reserves: +€197,500
- Tax, wage and social debts +€117,055
up €117,055 (+7,701%), from €1,520 to €118,575
- Gross operating margin +€332,631
up €332,631 (+682%), from €48,793 to €381,424
- Taxes +€113,094
up €113,094 (+2,064%), from €5,480 to €118,575
- Depreciation -€5,744
down €5,744 (-46.1%), from €12,457 to €6,713
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 | €499,336 | €857,113 | +€357,777 | +71.7% |
| Fixed assets | 21/28 | €174,642 | €162,395 | -€12,247 | -7.0% |
| Tangible fixed assets | 22/27 | €174,642 | €162,395 | -€12,247 | -7.0% |
| Land and buildings | 22 | €174,642 | €162,395 | -€12,247 | -7.0% |
| Current assets | 29/58 | €324,693 | €694,717 | +€370,024 | +114% |
| Amounts receivable within one year | 40/41 | €4,540 | €2,507 | -€2,032 | -44.8% |
| Trade receivables | 40 | - | €2,507 | +€2,507 | |
| Other amounts receivable | 41 | €4,540 | - | -€4,540 | |
| Cash at bank and in hand | 54/58 | €318,821 | €691,020 | +€372,198 | +117% |
| Deferred charges and accrued income | 490/1 | €1,333 | €1,190 | -€142 | -10.7% |
| Total equity and liabilities | 10/49 | €499,336 | €857,113 | +€357,777 | +71.7% |
| Equity | 10/15 | €407,231 | €646,547 | +€239,316 | +58.8% |
| Contributions | 10/11 | €421,419 | €421,419 | = | 0.0% |
| Capital | 10 | €421,419 | €421,419 | = | 0.0% |
| Issued capital | 100 | €421,419 | €421,419 | = | 0.0% |
| Reserves | 13 | €21,976 | €261,285 | +€239,309 | +1,089% |
| Non-distributable reserves | 130/1 | €333 | €42,142 | +€41,809 | +12,550% |
| Legal reserve | 130 | €333 | €42,142 | +€41,809 | +12,550% |
| Distributable reserves | 133 | €21,643 | €219,143 | +€197,500 | +913% |
| Profit (loss) carried forward | 14 | -€36,164 | -€36,156 | +€7 | 0.0% |
| Amounts payable | 17/49 | €92,105 | €210,566 | +€118,461 | +129% |
| Amounts payable after more than one year | 17 | €76,219 | €79,955 | +€3,736 | +4.9% |
| Other amounts payable | 178/9 | €76,219 | €79,955 | +€3,736 | +4.9% |
| Amounts payable within one year | 42/48 | €7,568 | €124,138 | +€116,570 | +1,540% |
| Trade debts | 44 | €688 | - | -€688 | |
| Suppliers | 440/4 | €688 | - | -€688 | |
| Taxes, remuneration and social security | 45 | €1,520 | €118,575 | +€117,055 | +7,701% |
| Taxes | 450/3 | €1,520 | €118,575 | +€117,055 | +7,701% |
| Other amounts payable | 47/48 | €5,360 | €5,564 | +€204 | +3.8% |
| Accrued charges and deferred income | 492/3 | €8,318 | €6,472 | -€1,846 | -22.2% |
| Non-recurring operating income | 76A | - | €326,196 | +€326,196 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,457 | €6,713 | -€5,744 | -46.1% |
| Other operating charges | 640/8 | €12,290 | €11,887 | -€404 | -3.3% |
| Gross operating margin | 9900 | €48,793 | €381,424 | +€332,631 | +682% |
| Operating profit (loss) | 9901 | €24,045 | €362,824 | +€338,779 | +1,409% |
| Financial income | 75/76B | €2,849 | €831 | -€2,017 | -70.8% |
| Recurring financial income | 75 | €2,849 | €831 | -€2,017 | -70.8% |
| Financial charges | 65/66B | €6,187 | €5,765 | -€422 | -6.8% |
| Recurring financial charges | 65 | €6,187 | €5,765 | -€422 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €20,707 | €357,891 | +€337,183 | +1,628% |
| Income taxes | 67/77 | €5,480 | €118,575 | +€113,094 | +2,064% |
| Profit (loss) for the period | 9904 | €15,227 | €239,316 | +€224,089 | +1,472% |
| Profit (loss) for the period to be appropriated | 9905 | €15,227 | €239,316 | +€224,089 | +1,472% |
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 19 October 2026 via checked.be.