P. VERLINDEN: 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.
P. VERLINDEN
Largest movements
- Tangible fixed assets -€54,175
down €54,175 (-6.1%), from €883,349 to €829,174
of which Land and buildings: -€54,175
- Cash +€12,368
up €12,368 (+54.5%), from €22,688 to €35,056
mainly Depreciation (+€54,175) and Net result for the year (+€14,701)
- Receivables within one year +€9,813
up €9,813 (+282%), from €3,483 to €13,296
of which Other amounts receivable: +€7,903
- Debts after one year -€50,659
down €50,659 (-8.9%), from €566,457 to €515,798
- Reserves +€14,701
up €14,701 (+4.9%), from €298,090 to €312,791
- Gross operating margin -€1,878
down €1,878 (-2.2%), from €86,526 to €84,648
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 | €929,521 | €895,026 | -€34,495 | -3.7% |
| Fixed assets | 21/28 | €883,349 | €829,174 | -€54,175 | -6.1% |
| Tangible fixed assets | 22/27 | €883,349 | €829,174 | -€54,175 | -6.1% |
| Land and buildings | 22 | €533,349 | €479,174 | -€54,175 | -10.2% |
| Other tangible fixed assets | 26 | €350,000 | €350,000 | = | 0.0% |
| Current assets | 29/58 | €46,172 | €65,852 | +€19,680 | +42.6% |
| Amounts receivable within one year | 40/41 | €3,483 | €13,296 | +€9,813 | +282% |
| Trade receivables | 40 | - | €1,910 | +€1,910 | |
| Other amounts receivable | 41 | €3,483 | €11,386 | +€7,903 | +227% |
| Cash at bank and in hand | 54/58 | €22,688 | €35,056 | +€12,368 | +54.5% |
| Deferred charges and accrued income | 490/1 | €20,000 | €17,500 | -€2,500 | -12.5% |
| Total equity and liabilities | 10/49 | €929,521 | €895,026 | -€34,495 | -3.7% |
| Equity | 10/15 | €310,490 | €325,191 | +€14,701 | +4.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €298,090 | €312,791 | +€14,701 | +4.9% |
| Distributable reserves | 133 | €298,090 | €312,791 | +€14,701 | +4.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €619,031 | €569,835 | -€49,196 | -7.9% |
| Amounts payable after more than one year | 17 | €566,457 | €515,798 | -€50,659 | -8.9% |
| Financial debts | 170/4 | €566,457 | €515,798 | -€50,659 | -8.9% |
| Amounts payable within one year | 42/48 | €51,579 | €53,042 | +€1,463 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €50,003 | €50,659 | +€656 | +1.3% |
| Trade debts | 44 | €0 | €606 | +€606 | |
| Suppliers | 440/4 | €0 | €606 | +€606 | |
| Taxes, remuneration and social security | 45 | €1,577 | €1,470 | -€107 | -6.8% |
| Taxes | 450/3 | €1,577 | €1,470 | -€107 | -6.8% |
| Other amounts payable | 47/48 | €0 | €307 | +€307 | |
| Accrued charges and deferred income | 492/3 | €995 | €995 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,175 | €54,175 | = | 0.0% |
| Other operating charges | 640/8 | €6,789 | €7,001 | +€212 | +3.1% |
| Gross operating margin | 9900 | €86,526 | €84,648 | -€1,878 | -2.2% |
| Operating profit (loss) | 9901 | €25,562 | €23,473 | -€2,089 | -8.2% |
| Financial income | 75/76B | €106 | €403 | +€297 | +282% |
| Recurring financial income | 75 | €106 | €403 | +€297 | +282% |
| Financial charges | 65/66B | €8,323 | €7,705 | -€618 | -7.4% |
| Recurring financial charges | 65 | €8,323 | €7,705 | -€618 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €17,345 | €16,171 | -€1,174 | -6.8% |
| Income taxes | 67/77 | €1,577 | €1,470 | -€107 | -6.8% |
| Profit (loss) for the period | 9904 | €15,768 | €14,701 | -€1,067 | -6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €15,768 | €14,701 | -€1,067 | -6.8% |
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.