VEERLE DEBUSSCHERE: 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.
VEERLE DEBUSSCHERE
Largest movements
- Current investments +€15,578
up €15,578 (+9.2%), from €170,000 to €185,578
- Cash -€5,368
down €5,368 (-9.9%), from €54,229 to €48,861
mainly Contributions, distributions and other (-€34,504) and Current investments (-€15,578)
- Tangible fixed assets -€4,013
down €4,013 (-9.5%), from €42,146 to €38,133
- Reserves +€20,106
up €20,106 (+8.8%), from €229,469 to €249,575
- Tax, wage and social debts -€12,544
down €12,544 (-79.2%), from €15,833 to €3,289
- Accrued charges and deferred income +€5,912
up €5,912 (+289%), from €2,049 to €7,961
- Debts after one year -€4,078
down €4,078 (-40.7%), from €10,016 to €5,938
- Financial charges +€5,630
up €5,630 (+1,185%), from €475 to €6,105
- Financial income +€4,594
up €4,594 (+330,497%), from €1 to €4,595
- Gross operating margin +€4,289
up €4,289 (+4.7%), from €91,299 to €95,588
- Taxes +€3,048
up €3,048 (+11.7%), from €25,962 to €29,010
- Write-downs -€962
down €962 (-56.9%), from €1,690 to €728
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 | €296,444 | €301,664 | +€5,220 | +1.8% |
| Fixed assets | 21/28 | €42,146 | €38,133 | -€4,013 | -9.5% |
| Tangible fixed assets | 22/27 | €42,146 | €38,133 | -€4,013 | -9.5% |
| Plant, machinery and equipment | 23 | €5,116 | €3,528 | -€1,588 | -31.0% |
| Furniture and vehicles | 24 | €6,974 | €5,149 | -€1,825 | -26.2% |
| Other tangible fixed assets | 26 | €30,055 | €29,456 | -€599 | -2.0% |
| Current assets | 29/58 | €254,298 | €263,531 | +€9,232 | +3.6% |
| Amounts receivable within one year | 40/41 | €28,672 | €27,948 | -€724 | -2.5% |
| Trade receivables | 40 | €28,672 | €27,948 | -€724 | -2.5% |
| Current investments | 50/53 | €170,000 | €185,578 | +€15,578 | +9.2% |
| Cash at bank and in hand | 54/58 | €54,229 | €48,861 | -€5,368 | -9.9% |
| Deferred charges and accrued income | 490/1 | €1,397 | €1,144 | -€253 | -18.1% |
| Total equity and liabilities | 10/49 | €296,444 | €301,664 | +€5,220 | +1.8% |
| Equity | 10/15 | €241,869 | €261,975 | +€20,106 | +8.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €229,469 | €249,575 | +€20,106 | +8.8% |
| Distributable reserves | 133 | €229,469 | €249,575 | +€20,106 | +8.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €54,575 | €39,689 | -€14,886 | -27.3% |
| Amounts payable after more than one year | 17 | €10,016 | €5,938 | -€4,078 | -40.7% |
| Financial debts | 170/4 | €10,016 | €5,938 | -€4,078 | -40.7% |
| Amounts payable within one year | 42/48 | €42,509 | €25,789 | -€16,720 | -39.3% |
| Current portion of amounts payable after more than one year | 42 | €3,986 | €4,078 | +€92 | +2.3% |
| Trade debts | 44 | €2,613 | €468 | -€2,145 | -82.1% |
| Suppliers | 440/4 | €2,613 | €468 | -€2,145 | -82.1% |
| Taxes, remuneration and social security | 45 | €15,833 | €3,289 | -€12,544 | -79.2% |
| Taxes | 450/3 | €15,833 | €3,289 | -€12,544 | -79.2% |
| Other amounts payable | 47/48 | €20,077 | €17,954 | -€2,123 | -10.6% |
| Accrued charges and deferred income | 492/3 | €2,049 | €7,961 | +€5,912 | +289% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,227 | €9,052 | +€825 | +10.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,690 | €728 | -€962 | -56.9% |
| Other operating charges | 640/8 | €659 | €679 | +€19 | +2.9% |
| Gross operating margin | 9900 | €91,299 | €95,588 | +€4,289 | +4.7% |
| Operating profit (loss) | 9901 | €80,723 | €85,130 | +€4,406 | +5.5% |
| Financial income | 75/76B | €1 | €4,595 | +€4,594 | +330,497% |
| Recurring financial income | 75 | €1 | €4,595 | +€4,594 | +330,497% |
| Financial charges | 65/66B | €475 | €6,105 | +€5,630 | +1,185% |
| Recurring financial charges | 65 | €475 | €6,105 | +€5,630 | +1,185% |
| Profit (loss) for the period before taxes | 9903 | €80,250 | €83,620 | +€3,370 | +4.2% |
| Income taxes | 67/77 | €25,962 | €29,010 | +€3,048 | +11.7% |
| Profit (loss) for the period | 9904 | €54,288 | €54,610 | +€322 | +0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €54,288 | €54,610 | +€322 | +0.6% |
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 18 October 2026 via checked.be.