Thomas Verbaet Consulting: 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.
Thomas Verbaet Consulting
Largest movements
- Receivables within one year -€54,131
down €54,131 (-94.6%), from €57,222 to €3,092
of which Trade receivables: -€57,125
- Cash +€16,917
up €16,917 (+11.5%), from €146,698 to €163,615
mainly Net result for the year (+€75,610) and Receivables within one year (+€54,131)
- Tangible fixed assets +€2,481
up €2,481 (+141%), from €1,765 to €4,246
of which Furniture and vehicles: +€1,304
- Other debts -€77,980
down €77,980 (-76.5%), from €101,902 to €23,922
- Profit (loss) carried forward +€75,610
up €75,610 (+136%), from €55,630 to €131,241
- Tax, wage and social debts -€27,136
down €27,136 (-71.0%), from €38,213 to €11,078
- Trade debts -€9,118
down €9,118 (-87.8%), from €10,388 to €1,270
- Short-term financial debts +€2,986
new in 2025: €2,986
- Gross operating margin -€59,404
down €59,404 (-37.1%), from €160,010 to €100,606
- Taxes -€15,075
down €15,075 (-40.6%), from €37,096 to €22,021
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 | €207,134 | €171,496 | -€35,638 | -17.2% |
| Fixed assets | 21/28 | €1,765 | €4,246 | +€2,481 | +141% |
| Tangible fixed assets | 22/27 | €1,765 | €4,246 | +€2,481 | +141% |
| Plant, machinery and equipment | 23 | €1,677 | €2,854 | +€1,177 | +70.2% |
| Furniture and vehicles | 24 | €88 | €1,392 | +€1,304 | +1,482% |
| Current assets | 29/58 | €205,369 | €167,250 | -€38,119 | -18.6% |
| Amounts receivable within one year | 40/41 | €57,222 | €3,092 | -€54,131 | -94.6% |
| Trade receivables | 40 | €57,125 | - | -€57,125 | |
| Other amounts receivable | 41 | €97 | €3,092 | +€2,994 | +3,072% |
| Cash at bank and in hand | 54/58 | €146,698 | €163,615 | +€16,917 | +11.5% |
| Deferred charges and accrued income | 490/1 | €1,449 | €544 | -€905 | -62.5% |
| Total equity and liabilities | 10/49 | €207,134 | €171,496 | -€35,638 | -17.2% |
| Equity | 10/15 | €56,630 | €132,241 | +€75,610 | +134% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,630 | €131,241 | +€75,610 | +136% |
| Amounts payable | 17/49 | €150,504 | €39,255 | -€111,248 | -73.9% |
| Amounts payable within one year | 42/48 | €150,504 | €39,255 | -€111,248 | -73.9% |
| Financial debts | 43 | - | €2,986 | +€2,986 | |
| Credit institutions | 430/8 | - | €2,986 | +€2,986 | |
| Trade debts | 44 | €10,388 | €1,270 | -€9,118 | -87.8% |
| Suppliers | 440/4 | €10,388 | €1,270 | -€9,118 | -87.8% |
| Taxes, remuneration and social security | 45 | €38,213 | €11,078 | -€27,136 | -71.0% |
| Taxes | 450/3 | €38,213 | €11,078 | -€27,136 | -71.0% |
| Other amounts payable | 47/48 | €101,902 | €23,922 | -€77,980 | -76.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,069 | €2,141 | +€1,072 | +100% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | €900 | - | -€900 | |
| Gross operating margin | 9900 | €160,010 | €100,606 | -€59,404 | -37.1% |
| Operating profit (loss) | 9901 | €157,653 | €98,065 | -€59,588 | -37.8% |
| Financial income | 75/76B | €469 | €835 | +€366 | +78.0% |
| Recurring financial income | 75 | €469 | €835 | +€366 | +78.0% |
| Financial charges | 65/66B | €1,443 | €1,269 | -€174 | -12.1% |
| Recurring financial charges | 65 | €1,443 | €1,269 | -€174 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €156,680 | €97,632 | -€59,048 | -37.7% |
| Income taxes | 67/77 | €37,096 | €22,021 | -€15,075 | -40.6% |
| Profit (loss) for the period | 9904 | €119,583 | €75,610 | -€43,973 | -36.8% |
| Profit (loss) for the period to be appropriated | 9905 | €119,583 | €75,610 | -€43,973 | -36.8% |
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 30 October 2026 via checked.be.