PIERRE VERBEEK: 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.
PIERRE VERBEEK
Largest movements
- Cash +€8,756
up €8,756 (+42.0%), from €20,828 to €29,585
mainly Other debts (+€8,388) and Depreciation (+€5,845)
- Tangible fixed assets -€3,704
down €3,704 (-18.8%), from €19,730 to €16,027
of which Furniture and vehicles: -€2,473
- Other debts +€8,388
up €8,388 (+1,528%), from €549 to €8,936
- Reserves -€8,250
down €8,250 (-17.4%), from €47,378 to €39,128
of which Distributable reserves: -€8,250
- Profit (loss) carried forward +€2,393
up €2,393 (+58.5%), from -€4,088 to -€1,695
- Trade debts +€1,368
up €1,368 (+616%), from €222 to €1,590
- Tax, wage and social debts +€1,160
up €1,160 (+2,304%), from €50 to €1,210
- Gross operating margin +€7,593
up €7,593 (+339%), from €2,240 to €9,832
- Taxes +€806
up €806, from -€8 to €798
- Depreciation +€159
up €159 (+2.8%), from €5,686 to €5,845
- Financial charges +€113
up €113 (+39.6%), from €285 to €398
of which Financial charges: +€113
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 | €50,311 | €55,370 | +€5,059 | +10.1% |
| Fixed assets | 21/28 | €19,730 | €16,027 | -€3,704 | -18.8% |
| Tangible fixed assets | 22/27 | €19,730 | €16,027 | -€3,704 | -18.8% |
| Plant, machinery and equipment | 23 | €16,413 | €15,183 | -€1,230 | -7.5% |
| Furniture and vehicles | 24 | €3,317 | €844 | -€2,473 | -74.6% |
| Current assets | 29/58 | €30,581 | €39,344 | +€8,762 | +28.7% |
| Stocks and contracts in progress | 3 | €8,934 | €9,002 | +€68 | +0.8% |
| Stocks | 30/36 | €8,934 | €9,002 | +€68 | +0.8% |
| Amounts receivable within one year | 40/41 | €159 | €296 | +€137 | +86.3% |
| Trade receivables | 40 | €159 | €296 | +€137 | +86.3% |
| Cash at bank and in hand | 54/58 | €20,828 | €29,585 | +€8,756 | +42.0% |
| Deferred charges and accrued income | 490/1 | €660 | €461 | -€199 | -30.2% |
| Total equity and liabilities | 10/49 | €50,311 | €55,370 | +€5,059 | +10.1% |
| Equity | 10/15 | €49,490 | €43,633 | -€5,857 | -11.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €47,378 | €39,128 | -€8,250 | -17.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €45,518 | €37,268 | -€8,250 | -18.1% |
| Profit (loss) carried forward | 14 | -€4,088 | -€1,695 | +€2,393 | +58.5% |
| Amounts payable | 17/49 | €821 | €11,737 | +€10,916 | +1,329% |
| Amounts payable within one year | 42/48 | €821 | €11,737 | +€10,916 | +1,329% |
| Trade debts | 44 | €222 | €1,590 | +€1,368 | +616% |
| Suppliers | 440/4 | €222 | €1,590 | +€1,368 | +616% |
| Taxes, remuneration and social security | 45 | €50 | €1,210 | +€1,160 | +2,304% |
| Taxes | 450/3 | €50 | €1,210 | +€1,160 | +2,304% |
| Other amounts payable | 47/48 | €549 | €8,936 | +€8,388 | +1,528% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,686 | €5,845 | +€159 | +2.8% |
| Other operating charges | 640/8 | €472 | €493 | +€21 | +4.4% |
| Gross operating margin | 9900 | €2,240 | €9,832 | +€7,593 | +339% |
| Operating profit (loss) | 9901 | -€3,919 | €3,494 | +€7,413 | |
| Financial income | 75/76B | €108 | €95 | -€13 | -12.4% |
| Recurring financial income | 75 | €106 | €95 | -€11 | -10.4% |
| Non-recurring financial income | 76B | €2 | €0 | -€2 | -100% |
| Financial charges | 65/66B | €285 | €398 | +€113 | +39.6% |
| Recurring financial charges | 65 | €285 | €398 | +€113 | +39.6% |
| Non-recurring financial charges | 66B | €0 | €0 | -€0 | -33.3% |
| Profit (loss) for the period before taxes | 9903 | -€4,096 | €3,191 | +€7,287 | |
| Income taxes | 67/77 | -€8 | €798 | +€806 | |
| Profit (loss) for the period | 9904 | -€4,088 | €2,393 | +€6,481 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,088 | €2,393 | +€6,481 |
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.