QUESTION WORK 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.
QUESTION WORK VERDUYN
Largest movements
- Receivables within one year +€25,674
up €25,674 (+16.0%), from €160,045 to €185,719
of which Trade receivables: +€51,758
- Tangible fixed assets -€14,039
down €14,039 (-50.2%), from €27,994 to €13,955
of which Leasing and similar rights: -€13,841
- Cash +€5,956
up €5,956 (+1653.5%), from €360 to €6,316
mainly Net result for the year (+€32,993) and Depreciation (+€14,039)
- Profit (loss) carried forward +€32,993
new in 2025: €32,993
- Debts after one year -€13,517
no longer reported in 2025 (was €13,517)
- Tax, wage and social debts -€3,893
down €3,893 (-11.1%), from €35,095 to €31,202
- Taxes -€2,499
down €2,499 (-16.5%), from €15,155 to €12,656
- Other operating charges -€1,186
down €1,186 (-58.6%), from €2,023 to €837
- Gross operating margin +€800
up €800 (+1.3%), from €60,144 to €60,944
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.
Cash bridge derived
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 | €189,110 | €206,708 | +€17,598 | +9.3% |
| Fixed assets | 21/28 | €27,994 | €13,955 | -€14,039 | -50.2% |
| Tangible fixed assets | 22/27 | €27,994 | €13,955 | -€14,039 | -50.2% |
| Plant, machinery and equipment | 23 | €198 | €0 | -€198 | -100.0% |
| Leasing and similar rights | 25 | €27,796 | €13,955 | -€13,841 | -49.8% |
| Current assets | 29/58 | €161,116 | €192,753 | +€31,637 | +19.6% |
| Amounts receivable within one year | 40/41 | €160,045 | €185,719 | +€25,674 | +16.0% |
| Trade receivables | 40 | €133,856 | €185,614 | +€51,758 | +38.7% |
| Other amounts receivable | 41 | €26,189 | €105 | -€26,084 | -99.6% |
| Cash at bank and in hand | 54/58 | €360 | €6,316 | +€5,956 | +1653.5% |
| Deferred charges and accrued income | 490/1 | €711 | €718 | +€6 | +0.9% |
| Total equity and liabilities | 10/49 | €189,110 | €206,708 | +€17,598 | +9.3% |
| Equity | 10/15 | €108,625 | €141,618 | +€32,993 | +30.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €90,033 | €90,033 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,289 | €1,289 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,289 | - | -€1,289 | |
| Other | 1319 | - | €1,289 | +€1,289 | |
| Distributable reserves | 133 | €88,744 | €88,744 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €32,993 | +€32,993 | |
| Amounts payable | 17/49 | €80,485 | €65,089 | -€15,396 | -19.1% |
| Amounts payable after more than one year | 17 | €13,517 | - | -€13,517 | |
| Financial debts | 170/4 | €13,517 | - | -€13,517 | |
| Amounts payable within one year | 42/48 | €66,968 | €65,089 | -€1,878 | -2.8% |
| Current portion of amounts payable after more than one year | 42 | €11,701 | €13,517 | +€1,816 | +15.5% |
| Trade debts | 44 | €2,094 | €2,121 | +€27 | +1.3% |
| Suppliers | 440/4 | €2,094 | €2,121 | +€27 | +1.3% |
| Taxes, remuneration and social security | 45 | €35,095 | €31,202 | -€3,893 | -11.1% |
| Taxes | 450/3 | €35,095 | €31,202 | -€3,893 | -11.1% |
| Other amounts payable | 47/48 | €18,077 | €18,249 | +€171 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,366 | €14,039 | -€327 | -2.3% |
| Other operating charges | 640/8 | €2,023 | €837 | -€1,186 | -58.6% |
| Gross operating margin | 9900 | €60,144 | €60,944 | +€800 | +1.3% |
| Operating profit (loss) | 9901 | €43,755 | €46,068 | +€2,313 | +5.3% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €394 | €418 | +€25 | +6.3% |
| Recurring financial charges | 65 | €394 | €418 | +€25 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | €43,362 | €45,650 | +€2,288 | +5.3% |
| Income taxes | 67/77 | €15,155 | €12,656 | -€2,499 | -16.5% |
| Profit (loss) for the period | 9904 | €28,207 | €32,993 | +€4,787 | +17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,207 | €32,993 | +€4,787 | +17.0% |
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 10 October 2026 via checked.be.