Philip 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.
Philip Verbeke
Largest movements
- Receivables within one year -€49,080
down €49,080 (-100.0%), from €49,081 to €0
- Tangible fixed assets -€27,272
down €27,272 (-8.7%), from €313,445 to €286,173
of which Land and buildings: -€26,271
- Trade debts -€35,638
down €35,638 (-95.7%), from €37,221 to €1,583
- Other debts -€30,885
down €30,885 (-60.2%), from €51,280 to €20,395
- Debts after one year -€22,338
down €22,338 (-7.0%), from €320,856 to €298,517
- Profit (loss) carried forward +€15,830
up €15,830 (+83.1%), from -€19,061 to -€3,231
- Gross operating margin -€11,404
down €11,404 (-15.9%), from €71,837 to €60,434
- Depreciation -€6,383
down €6,383 (-19.0%), from €33,655 to €27,272
- Taxes +€1,699
up €1,699 (+32.0%), from €5,317 to €7,015
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €478,679 | €406,137 | -€72,542 | -15.2% |
| Fixed assets | 21/28 | €428,445 | €401,173 | -€27,272 | -6.4% |
| Tangible fixed assets | 22/27 | €313,445 | €286,173 | -€27,272 | -8.7% |
| Land and buildings | 22 | €310,691 | €284,419 | -€26,271 | -8.5% |
| Plant, machinery and equipment | 23 | €2,754 | €1,754 | -€1,001 | -36.3% |
| Financial fixed assets | 28 | €115,000 | €115,000 | = | 0.0% |
| Current assets | 29/58 | €50,234 | €4,964 | -€45,270 | -90.1% |
| Amounts receivable within one year | 40/41 | €49,081 | €0 | -€49,080 | -100.0% |
| Trade receivables | 40 | €49,081 | €0 | -€49,080 | -100.0% |
| Cash at bank and in hand | 54/58 | €1,154 | €4,964 | +€3,810 | +330% |
| Total equity and liabilities | 10/49 | €478,679 | €406,137 | -€72,542 | -15.2% |
| Equity | 10/15 | €27,642 | €43,472 | +€15,830 | +57.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €34,303 | €34,303 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €32,443 | €34,303 | +€1,860 | +5.7% |
| Profit (loss) carried forward | 14 | -€19,061 | -€3,231 | +€15,830 | +83.1% |
| Amounts payable | 17/49 | €451,037 | €362,665 | -€88,373 | -19.6% |
| Amounts payable after more than one year | 17 | €320,856 | €298,517 | -€22,338 | -7.0% |
| Financial debts | 170/4 | €320,856 | €298,517 | -€22,338 | -7.0% |
| Amounts payable within one year | 42/48 | €130,182 | €64,147 | -€66,035 | -50.7% |
| Current portion of amounts payable after more than one year | 42 | €21,784 | €22,338 | +€555 | +2.5% |
| Financial debts | 43 | €1,739 | - | -€1,739 | |
| Credit institutions | 430/8 | €1,739 | - | -€1,739 | |
| Trade debts | 44 | €37,221 | €1,583 | -€35,638 | -95.7% |
| Suppliers | 440/4 | €37,221 | €1,583 | -€35,638 | -95.7% |
| Taxes, remuneration and social security | 45 | €18,158 | €19,831 | +€1,673 | +9.2% |
| Taxes | 450/3 | €18,158 | €19,831 | +€1,673 | +9.2% |
| Other amounts payable | 47/48 | €51,280 | €20,395 | -€30,885 | -60.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,655 | €27,272 | -€6,383 | -19.0% |
| Other operating charges | 640/8 | €1,295 | €753 | -€543 | -41.9% |
| Gross operating margin | 9900 | €71,837 | €60,434 | -€11,404 | -15.9% |
| Operating profit (loss) | 9901 | €36,887 | €32,409 | -€4,478 | -12.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €9,188 | €9,563 | +€375 | +4.1% |
| Recurring financial charges | 65 | €9,188 | €9,563 | +€375 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | €27,699 | €22,846 | -€4,853 | -17.5% |
| Income taxes | 67/77 | €5,317 | €7,015 | +€1,699 | +32.0% |
| Profit (loss) for the period | 9904 | €22,382 | €15,830 | -€6,552 | -29.3% |
| Profit (loss) for the period to be appropriated | 9905 | €22,382 | €15,830 | -€6,552 | -29.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.