TOM VERELST: 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.
TOM VERELST
Largest movements
- Tangible fixed assets -€10,507
down €10,507 (-4.6%), from €226,239 to €215,732
of which Land and buildings: -€6,061
- Cash +€4,019
up €4,019 (+8.4%), from €47,735 to €51,754
mainly Net result for the year (+€20,214) and Depreciation (+€10,507)
- Reserves +€20,214
up €20,214 (+23.1%), from €87,410 to €107,624
- Debts after one year -€17,084
down €17,084 (-12.2%), from €139,947 to €122,863
- Trade debts -€11,318
down €11,318 (-54.8%), from €20,646 to €9,328
- Gross operating margin +€29,962
up €29,962 (+22.5%), from €133,228 to €163,190
- Taxes +€7,005
up €7,005 (+507%), from €1,382 to €8,387
- Staff costs +€2,273
up €2,273 (+1.9%), from €117,113 to €119,386
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 | €299,685 | €292,653 | -€7,032 | -2.3% |
| Fixed assets | 21/28 | €226,239 | €215,732 | -€10,507 | -4.6% |
| Tangible fixed assets | 22/27 | €226,239 | €215,732 | -€10,507 | -4.6% |
| Land and buildings | 22 | €220,013 | €213,952 | -€6,061 | -2.8% |
| Plant, machinery and equipment | 23 | €1,329 | €576 | -€753 | -56.7% |
| Furniture and vehicles | 24 | €4,897 | €1,204 | -€3,693 | -75.4% |
| Current assets | 29/58 | €73,446 | €76,921 | +€3,475 | +4.7% |
| Stocks and contracts in progress | 3 | €4,000 | €3,500 | -€500 | -12.5% |
| Stocks | 30/36 | €4,000 | €3,500 | -€500 | -12.5% |
| Amounts receivable within one year | 40/41 | €16,602 | €14,959 | -€1,643 | -9.9% |
| Trade receivables | 40 | €16,489 | €10,722 | -€5,767 | -35.0% |
| Other amounts receivable | 41 | €113 | €4,237 | +€4,123 | +3,641% |
| Cash at bank and in hand | 54/58 | €47,735 | €51,754 | +€4,019 | +8.4% |
| Deferred charges and accrued income | 490/1 | €5,109 | €6,708 | +€1,600 | +31.3% |
| Total equity and liabilities | 10/49 | €299,685 | €292,653 | -€7,032 | -2.3% |
| Equity | 10/15 | €106,010 | €126,224 | +€20,214 | +19.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €87,410 | €107,624 | +€20,214 | +23.1% |
| Distributable reserves | 133 | €87,410 | €107,624 | +€20,214 | +23.1% |
| Amounts payable | 17/49 | €193,675 | €166,429 | -€27,246 | -14.1% |
| Amounts payable after more than one year | 17 | €139,947 | €122,863 | -€17,084 | -12.2% |
| Financial debts | 170/4 | €139,947 | €122,863 | -€17,084 | -12.2% |
| Amounts payable within one year | 42/48 | €53,728 | €43,566 | -€10,162 | -18.9% |
| Current portion of amounts payable after more than one year | 42 | €16,854 | €17,084 | +€230 | +1.4% |
| Trade debts | 44 | €20,646 | €9,328 | -€11,318 | -54.8% |
| Suppliers | 440/4 | €20,646 | €9,328 | -€11,318 | -54.8% |
| Taxes, remuneration and social security | 45 | €2,522 | €4,789 | +€2,267 | +89.9% |
| Taxes | 450/3 | €2,522 | €4,789 | +€2,267 | +89.9% |
| Other amounts payable | 47/48 | €13,705 | €12,365 | -€1,340 | -9.8% |
| Remuneration, social security and pensions | 62 | €117,113 | €119,386 | +€2,273 | +1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,643 | €10,507 | -€136 | -1.3% |
| Other operating charges | 640/8 | €1,942 | €2,849 | +€907 | +46.7% |
| Gross operating margin | 9900 | €133,228 | €163,190 | +€29,962 | +22.5% |
| Operating profit (loss) | 9901 | €3,530 | €30,448 | +€26,918 | +763% |
| Financial income | 75/76B | €2,362 | €1,324 | -€1,038 | -43.9% |
| Recurring financial income | 75 | €2,362 | €287 | -€2,075 | -87.9% |
| Non-recurring financial income | 76B | - | €1,037 | +€1,037 | |
| Financial charges | 65/66B | €3,117 | €3,171 | +€54 | +1.7% |
| Recurring financial charges | 65 | €3,117 | €3,171 | +€54 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | €2,774 | €28,601 | +€25,827 | +931% |
| Income taxes | 67/77 | €1,382 | €8,387 | +€7,005 | +507% |
| Profit (loss) for the period | 9904 | €1,392 | €20,214 | +€18,822 | +1,352% |
| Profit (loss) for the period to be appropriated | 9905 | €1,392 | €20,214 | +€18,822 | +1,352% |
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 15 October 2026 via checked.be.