Tom Verfaillie: 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 Verfaillie
Largest movements
- Cash +€43,111
up €43,111 (+151%), from €28,522 to €71,633
mainly Other debts (+€60,000) and Net result for the year (+€59,421)
- Deferred charges and accrued income +€20,000
new in 2025: €20,000
- Tangible fixed assets +€10,532
up €10,532 (+35.5%), from €29,665 to €40,197
of which Other tangible fixed assets: +€10,838
- Receivables within one year +€2,314
up €2,314 (+625%), from €370 to €2,684
of which Other amounts receivable: +€1,168
- Other debts +€60,000
new in 2025: €60,000
- Short-term financial debts +€16,667
new in 2025: €16,667
- Gross operating margin +€5,796
up €5,796 (+7.6%), from €76,324 to €82,120
- Depreciation +€3,718
up €3,718 (+241%), from €1,542 to €5,260
- Taxes -€2,166
down €2,166 (-11.6%), from €18,723 to €16,557
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 | €58,557 | €134,514 | +€75,957 | +130% |
| Fixed assets | 21/28 | €29,665 | €40,197 | +€10,532 | +35.5% |
| Tangible fixed assets | 22/27 | €29,665 | €40,197 | +€10,532 | +35.5% |
| Plant, machinery and equipment | 23 | €464 | €187 | -€277 | -59.7% |
| Furniture and vehicles | 24 | €9,153 | €9,124 | -€29 | -0.3% |
| Other tangible fixed assets | 26 | €20,048 | €30,886 | +€10,838 | +54.1% |
| Current assets | 29/58 | €28,892 | €94,317 | +€65,425 | +226% |
| Amounts receivable within one year | 40/41 | €370 | €2,684 | +€2,314 | +625% |
| Trade receivables | 40 | - | €1,146 | +€1,146 | |
| Other amounts receivable | 41 | €370 | €1,538 | +€1,168 | +316% |
| Cash at bank and in hand | 54/58 | €28,522 | €71,633 | +€43,111 | +151% |
| Deferred charges and accrued income | 490/1 | - | €20,000 | +€20,000 | |
| Total equity and liabilities | 10/49 | €58,557 | €134,514 | +€75,957 | +130% |
| Equity | 10/15 | €57,357 | €56,778 | -€579 | -1.0% |
| Reserves | 13 | €56,860 | €55,860 | -€1,000 | -1.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €55,000 | €54,000 | -€1,000 | -1.8% |
| Profit (loss) carried forward | 14 | €497 | €918 | +€421 | +84.7% |
| Amounts payable | 17/49 | €1,200 | €77,736 | +€76,536 | +6,378% |
| Amounts payable within one year | 42/48 | €1,200 | €77,736 | +€76,536 | +6,378% |
| Financial debts | 43 | - | €16,667 | +€16,667 | |
| Credit institutions | 430/8 | - | €16,667 | +€16,667 | |
| Trade debts | 44 | - | €1,069 | +€1,069 | |
| Suppliers | 440/4 | - | €1,069 | +€1,069 | |
| Taxes, remuneration and social security | 45 | €1,200 | - | -€1,200 | |
| Taxes | 450/3 | €1,200 | - | -€1,200 | |
| Other amounts payable | 47/48 | - | €60,000 | +€60,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,542 | €5,260 | +€3,718 | +241% |
| Other operating charges | 640/8 | €599 | €614 | +€15 | +2.5% |
| Gross operating margin | 9900 | €76,324 | €82,120 | +€5,796 | +7.6% |
| Operating profit (loss) | 9901 | €74,183 | €76,246 | +€2,063 | +2.8% |
| Financial income | 75/76B | €20 | - | -€20 | |
| Recurring financial income | 75 | €20 | - | -€20 | |
| Financial charges | 65/66B | €783 | €268 | -€515 | -65.8% |
| Recurring financial charges | 65 | €783 | €268 | -€515 | -65.8% |
| Profit (loss) for the period before taxes | 9903 | €73,420 | €75,978 | +€2,558 | +3.5% |
| Income taxes | 67/77 | €18,723 | €16,557 | -€2,166 | -11.6% |
| Profit (loss) for the period | 9904 | €54,697 | €59,421 | +€4,724 | +8.6% |
| Profit (loss) for the period to be appropriated | 9905 | €54,697 | €59,421 | +€4,724 | +8.6% |
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 24 October 2026 via checked.be.