R. Verjans: 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.
R. Verjans
Largest movements
- Cash +€18,143
up €18,143 (+99.3%), from €18,262 to €36,406
mainly Net result for the year (+€13,742) and Depreciation (+€7,512)
- Tangible fixed assets -€7,512
down €7,512 (-24.8%), from €30,336 to €22,824
- Receivables within one year +€4,968
up €4,968 (+51.0%), from €9,741 to €14,709
of which Other amounts receivable: +€2,732
- Reserves +€13,742
up €13,742 (+68.5%), from €20,047 to €33,789
- Debts after one year -€9,954
down €9,954 (-62.3%), from €15,977 to €6,024
- Tax, wage and social debts +€6,134
up €6,134 (+49.6%), from €12,377 to €18,511
- Current portion of long-term debt +€5,164
up €5,164 (+108%), from €4,790 to €9,954
- Gross operating margin -€9,128
down €9,128 (-24.7%), from €36,932 to €27,804
- Taxes -€2,371
down €2,371 (-30.6%), from €7,738 to €5,367
- Other operating charges -€407
down €407 (-43.5%), from €936 to €529
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 | €58,462 | €74,197 | +€15,735 | +26.9% |
| Fixed assets | 21/28 | €30,336 | €22,824 | -€7,512 | -24.8% |
| Tangible fixed assets | 22/27 | €30,336 | €22,824 | -€7,512 | -24.8% |
| Furniture and vehicles | 24 | €30,336 | €22,824 | -€7,512 | -24.8% |
| Current assets | 29/58 | €28,126 | €51,373 | +€23,247 | +82.7% |
| Amounts receivable within one year | 40/41 | €9,741 | €14,709 | +€4,968 | +51.0% |
| Trade receivables | 40 | €9,045 | €11,281 | +€2,236 | +24.7% |
| Other amounts receivable | 41 | €696 | €3,428 | +€2,732 | +393% |
| Cash at bank and in hand | 54/58 | €18,262 | €36,406 | +€18,143 | +99.3% |
| Deferred charges and accrued income | 490/1 | €123 | €258 | +€135 | +110% |
| Total equity and liabilities | 10/49 | €58,462 | €74,197 | +€15,735 | +26.9% |
| Equity | 10/15 | €24,047 | €37,789 | +€13,742 | +57.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €20,047 | €33,789 | +€13,742 | +68.5% |
| Distributable reserves | 133 | €20,047 | €33,789 | +€13,742 | +68.5% |
| Amounts payable | 17/49 | €34,415 | €36,408 | +€1,993 | +5.8% |
| Amounts payable after more than one year | 17 | €15,977 | €6,024 | -€9,954 | -62.3% |
| Financial debts | 170/4 | €15,977 | €6,024 | -€9,954 | -62.3% |
| Amounts payable within one year | 42/48 | €18,437 | €30,384 | +€11,946 | +64.8% |
| Current portion of amounts payable after more than one year | 42 | €4,790 | €9,954 | +€5,164 | +108% |
| Trade debts | 44 | €1,270 | €1,920 | +€649 | +51.1% |
| Suppliers | 440/4 | €1,270 | €1,920 | +€649 | +51.1% |
| Taxes, remuneration and social security | 45 | €12,377 | €18,511 | +€6,134 | +49.6% |
| Taxes | 450/3 | €12,377 | €18,511 | +€6,134 | +49.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,225 | €7,512 | +€287 | +4.0% |
| Other operating charges | 640/8 | €936 | €529 | -€407 | -43.5% |
| Gross operating margin | 9900 | €36,932 | €27,804 | -€9,128 | -24.7% |
| Operating profit (loss) | 9901 | €28,772 | €19,763 | -€9,009 | -31.3% |
| Financial income | 75/76B | €23 | €112 | +€88 | +379% |
| Recurring financial income | 75 | €23 | €112 | +€88 | +379% |
| Financial charges | 65/66B | €1,010 | €766 | -€244 | -24.1% |
| Recurring financial charges | 65 | €1,010 | €766 | -€244 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €27,785 | €19,109 | -€8,677 | -31.2% |
| Income taxes | 67/77 | €7,738 | €5,367 | -€2,371 | -30.6% |
| Profit (loss) for the period | 9904 | €20,047 | €13,742 | -€6,306 | -31.5% |
| Profit (loss) for the period to be appropriated | 9905 | €20,047 | €13,742 | -€6,306 | -31.5% |
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 25 October 2026 via checked.be.