S. VERTOMMEN: 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.
S. VERTOMMEN
Largest movements
- Cash -€102,776
down €102,776 (-38.3%), from €268,320 to €165,544
mainly Current investments (-€97,116) and Contributions, distributions and other (-€65,000)
- Current investments +€97,116
up €97,116 (+63.7%), from €152,555 to €249,671
- Tangible fixed assets -€15,576
down €15,576 (-20.0%), from €77,733 to €62,157
of which Furniture and vehicles: -€9,847
- Reserves -€20,000
down €20,000 (-5.4%), from €372,502 to €352,502
of which Distributable reserves: -€20,000
- Gross operating margin -€81,142
down €81,142 (-48.6%), from €166,884 to €85,742
- Taxes -€21,291
down €21,291 (-48.0%), from €44,399 to €23,108
- Financial charges +€8,108
up €8,108, from -€5,568 to €2,540
- Financial income +€5,982
up €5,982 (+270%), from €2,212 to €8,194
- Depreciation +€3,665
up €3,665 (+28.2%), from €12,985 to €16,650
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 | €721,686 | €695,180 | -€26,506 | -3.7% |
| Fixed assets | 21/28 | €277,733 | €262,157 | -€15,576 | -5.6% |
| Tangible fixed assets | 22/27 | €77,733 | €62,157 | -€15,576 | -20.0% |
| Land and buildings | 22 | €28,424 | €22,694 | -€5,729 | -20.2% |
| Furniture and vehicles | 24 | €46,104 | €36,257 | -€9,847 | -21.4% |
| Other tangible fixed assets | 26 | €3,205 | €3,205 | = | 0.0% |
| Financial fixed assets | 28 | €200,000 | €200,000 | = | 0.0% |
| Current assets | 29/58 | €443,953 | €433,023 | -€10,930 | -2.5% |
| Amounts receivable within one year | 40/41 | €16,009 | €14,017 | -€1,992 | -12.4% |
| Other amounts receivable | 41 | €16,009 | €14,017 | -€1,992 | -12.4% |
| Current investments | 50/53 | €152,555 | €249,671 | +€97,116 | +63.7% |
| Cash at bank and in hand | 54/58 | €268,320 | €165,544 | -€102,776 | -38.3% |
| Deferred charges and accrued income | 490/1 | €7,069 | €3,790 | -€3,279 | -46.4% |
| Total equity and liabilities | 10/49 | €721,686 | €695,180 | -€26,506 | -3.7% |
| Equity | 10/15 | €684,047 | €665,930 | -€18,117 | -2.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €372,502 | €352,502 | -€20,000 | -5.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €642 | €642 | = | 0.0% |
| Distributable reserves | 133 | €370,000 | €350,000 | -€20,000 | -5.4% |
| Profit (loss) carried forward | 14 | €292,945 | €294,828 | +€1,883 | +0.6% |
| Amounts payable | 17/49 | €37,639 | €29,249 | -€8,389 | -22.3% |
| Amounts payable after more than one year | 17 | €15,131 | €8,842 | -€6,289 | -41.6% |
| Financial debts | 170/4 | €15,131 | €8,842 | -€6,289 | -41.6% |
| Amounts payable within one year | 42/48 | €16,049 | €13,944 | -€2,105 | -13.1% |
| Current portion of amounts payable after more than one year | 42 | €8,208 | €6,289 | -€1,919 | -23.4% |
| Trade debts | 44 | €1,815 | €1,426 | -€389 | -21.4% |
| Suppliers | 440/4 | €1,815 | €1,426 | -€389 | -21.4% |
| Taxes, remuneration and social security | 45 | €3,441 | €3,604 | +€163 | +4.7% |
| Taxes | 450/3 | €3,441 | €3,604 | +€163 | +4.7% |
| Other amounts payable | 47/48 | €2,585 | €2,624 | +€39 | +1.5% |
| Accrued charges and deferred income | 492/3 | €6,459 | €6,464 | +€5 | +0.1% |
| Non-recurring operating income | 76A | €53,783 | €0 | -€53,783 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,985 | €16,650 | +€3,665 | +28.2% |
| Other operating charges | 640/8 | €7,398 | €4,755 | -€2,643 | -35.7% |
| Gross operating margin | 9900 | €166,884 | €85,742 | -€81,142 | -48.6% |
| Operating profit (loss) | 9901 | €146,501 | €64,337 | -€82,164 | -56.1% |
| Financial income | 75/76B | €2,212 | €8,194 | +€5,982 | +270% |
| Recurring financial income | 75 | €2,212 | €8,194 | +€5,982 | +270% |
| Financial charges | 65/66B | -€5,568 | €2,540 | +€8,108 | |
| Recurring financial charges | 65 | -€5,568 | €2,540 | +€8,108 | |
| Profit (loss) for the period before taxes | 9903 | €154,281 | €69,991 | -€84,290 | -54.6% |
| Income taxes | 67/77 | €44,399 | €23,108 | -€21,291 | -48.0% |
| Profit (loss) for the period | 9904 | €109,882 | €46,883 | -€62,999 | -57.3% |
| Profit (loss) for the period to be appropriated | 9905 | €109,882 | €46,883 | -€62,999 | -57.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.