V. 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.
V. VERELST
Largest movements
- Cash +€13,694
up €13,694 (+118%), from €11,595 to €25,289
mainly Net result for the year (+€9,405) and Other debts (+€5,500)
- Tangible fixed assets +€5,024
up €5,024 (+353%), from €1,425 to €6,449
- Receivables within one year -€2,342
down €2,342 (-77.8%), from €3,012 to €670
of which Trade receivables: -€1,758
- Receivables after one year -€2,099
down €2,099 (-100%), from €2,099 to €0
- Deferred charges and accrued income +€1,370
new in 2025: €1,370
- Profit (loss) carried forward +€9,405
up €9,405 (+62.5%), from €15,044 to €24,449
- Other debts +€5,500
new in 2025: €5,500
- Tax, wage and social debts +€1,850
new in 2025: €1,850
- Trade debts -€1,108
down €1,108 (-69.8%), from €1,586 to €478
- Gross operating margin +€5,863
up €5,863 (+58.8%), from €9,966 to €15,829
- Taxes +€3,656
up €3,656 (+330%), from €1,109 to €4,765
- Depreciation +€319
up €319 (+67.1%), from €475 to €794
- Other operating charges +€185
up €185 (+42.2%), from €439 to €624
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 | €18,130 | €33,777 | +€15,647 | +86.3% |
| Fixed assets | 21/28 | €1,425 | €6,449 | +€5,024 | +353% |
| Tangible fixed assets | 22/27 | €1,425 | €6,449 | +€5,024 | +353% |
| Furniture and vehicles | 24 | €1,425 | €6,449 | +€5,024 | +353% |
| Current assets | 29/58 | €16,706 | €27,328 | +€10,622 | +63.6% |
| Amounts receivable after more than one year | 29 | €2,099 | €0 | -€2,099 | -100% |
| Other amounts receivable | 291 | €2,099 | €0 | -€2,099 | -100% |
| Amounts receivable within one year | 40/41 | €3,012 | €670 | -€2,342 | -77.8% |
| Trade receivables | 40 | €1,758 | €0 | -€1,758 | -100% |
| Other amounts receivable | 41 | €1,254 | €670 | -€584 | -46.6% |
| Cash at bank and in hand | 54/58 | €11,595 | €25,289 | +€13,694 | +118% |
| Deferred charges and accrued income | 490/1 | - | €1,370 | +€1,370 | |
| Total equity and liabilities | 10/49 | €18,130 | €33,777 | +€15,647 | +86.3% |
| Equity | 10/15 | €16,544 | €25,949 | +€9,405 | +56.8% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,044 | €24,449 | +€9,405 | +62.5% |
| Amounts payable | 17/49 | €1,586 | €7,828 | +€6,242 | +394% |
| Amounts payable within one year | 42/48 | €1,586 | €7,828 | +€6,242 | +394% |
| Trade debts | 44 | €1,586 | €478 | -€1,108 | -69.8% |
| Suppliers | 440/4 | €1,586 | €478 | -€1,108 | -69.8% |
| Taxes, remuneration and social security | 45 | - | €1,850 | +€1,850 | |
| Taxes | 450/3 | - | €1,850 | +€1,850 | |
| Other amounts payable | 47/48 | - | €5,500 | +€5,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €475 | €794 | +€319 | +67.1% |
| Other operating charges | 640/8 | €439 | €624 | +€185 | +42.2% |
| Gross operating margin | 9900 | €9,966 | €15,829 | +€5,863 | +58.8% |
| Operating profit (loss) | 9901 | €9,052 | €14,411 | +€5,359 | +59.2% |
| Financial income | 75/76B | €119 | €2 | -€117 | -98.1% |
| Recurring financial income | 75 | €119 | €2 | -€117 | -98.1% |
| Financial charges | 65/66B | €236 | €243 | +€7 | +3.2% |
| Recurring financial charges | 65 | €236 | €243 | +€7 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | €8,935 | €14,170 | +€5,234 | +58.6% |
| Income taxes | 67/77 | €1,109 | €4,765 | +€3,656 | +330% |
| Profit (loss) for the period | 9904 | €7,827 | €9,405 | +€1,578 | +20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €7,827 | €9,405 | +€1,578 | +20.2% |
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 17 October 2026 via checked.be.