VER EECKE MARC: what changed
Two fiscal 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.
VER EECKE MARC
Largest movements
- Cash +€123,528
up €123,528 (+61.4%), from €201,122 to €324,650
mainly Net result for the year (+€121,345) and Depreciation (+€82,278)
- Tangible fixed assets -€75,600
down €75,600 (-41.5%), from €182,332 to €106,732
of which Plant, machinery and equipment: -€83,682
- Stocks and contracts +€14,050
up €14,050 (+5.5%), from €254,869 to €268,919
- Reserves +€121,345
up €121,345 (+19.3%), from €628,293 to €749,638
of which Distributable reserves: +€121,345
- Trade debts -€39,264
down €39,264 (-19.6%), from €200,829 to €161,564
- Current portion of long-term debt -€13,602
no longer reported in 2025 (was €13,602)
- Gross operating margin +€60,303
up €60,303 (+30.0%), from €200,906 to €261,209
- Depreciation -€56,099
down €56,099 (-40.5%), from €138,377 to €82,278
- Staff costs -€17,950
down €17,950 (-32.8%), from €54,762 to €36,811
- Taxes +€12,242
up €12,242 (+2215.9%), from €552 to €12,794
- Financial charges -€3,938
down €3,938 (-42.8%), from €9,206 to €5,268
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.
Cash bridge derived
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 | €908,491 | €975,669 | +€67,178 | +7.4% |
| Fixed assets | 21/28 | €182,970 | €107,370 | -€75,600 | -41.3% |
| Tangible fixed assets | 22/27 | €182,332 | €106,732 | -€75,600 | -41.5% |
| Plant, machinery and equipment | 23 | €153,862 | €70,179 | -€83,682 | -54.4% |
| Furniture and vehicles | 24 | €28,470 | €36,552 | +€8,083 | +28.4% |
| Financial fixed assets | 28 | €639 | €639 | = | 0.0% |
| Current assets | 29/58 | €725,521 | €868,299 | +€142,778 | +19.7% |
| Stocks and contracts in progress | 3 | €254,869 | €268,919 | +€14,050 | +5.5% |
| Stocks | 30/36 | €254,869 | €268,919 | +€14,050 | +5.5% |
| Amounts receivable within one year | 40/41 | €268,299 | €273,435 | +€5,136 | +1.9% |
| Trade receivables | 40 | €153,978 | €112,488 | -€41,490 | -26.9% |
| Other amounts receivable | 41 | €114,321 | €160,946 | +€46,626 | +40.8% |
| Cash at bank and in hand | 54/58 | €201,122 | €324,650 | +€123,528 | +61.4% |
| Deferred charges and accrued income | 490/1 | €1,232 | €1,296 | +€64 | +5.2% |
| Total equity and liabilities | 10/49 | €908,491 | €975,669 | +€67,178 | +7.4% |
| Equity | 10/15 | €660,519 | €781,864 | +€121,345 | +18.4% |
| Contributions | 10/11 | €32,226 | €32,226 | = | 0.0% |
| Outside capital | 11 | €32,226 | €32,226 | = | 0.0% |
| Other | 1109/19 | €32,226 | €32,226 | = | 0.0% |
| Reserves | 13 | €628,293 | €749,638 | +€121,345 | +19.3% |
| Non-distributable reserves | 130/1 | €32,226 | €32,226 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,223 | €3,223 | = | 0.0% |
| Other | 1319 | €29,004 | €29,004 | = | 0.0% |
| Tax-exempt reserves | 132 | €38,794 | €38,794 | = | 0.0% |
| Distributable reserves | 133 | €557,273 | €678,617 | +€121,345 | +21.8% |
| Amounts payable | 17/49 | €247,972 | €193,805 | -€54,167 | -21.8% |
| Amounts payable within one year | 42/48 | €241,981 | €186,743 | -€55,238 | -22.8% |
| Current portion of amounts payable after more than one year | 42 | €13,602 | - | -€13,602 | |
| Trade debts | 44 | €200,829 | €161,564 | -€39,264 | -19.6% |
| Suppliers | 440/4 | €200,829 | €161,564 | -€39,264 | -19.6% |
| Taxes, remuneration and social security | 45 | €27,550 | €25,178 | -€2,371 | -8.6% |
| Taxes | 450/3 | €1,641 | €552 | -€1,089 | -66.3% |
| Remuneration and social security | 454/9 | €25,909 | €24,626 | -€1,283 | -5.0% |
| Accrued charges and deferred income | 492/3 | €5,991 | €7,063 | +€1,071 | +17.9% |
| Remuneration, social security and pensions | 62 | €54,762 | €36,811 | -€17,950 | -32.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €138,377 | €82,278 | -€56,099 | -40.5% |
| Other operating charges | 640/8 | €8,332 | €8,033 | -€300 | -3.6% |
| Gross operating margin | 9900 | €200,906 | €261,209 | +€60,303 | +30.0% |
| Operating profit (loss) | 9901 | -€565 | €134,088 | +€134,653 | |
| Financial income | 75/76B | €5,010 | €5,319 | +€309 | +6.2% |
| Recurring financial income | 75 | €5,010 | €5,319 | +€309 | +6.2% |
| Financial charges | 65/66B | €9,206 | €5,268 | -€3,938 | -42.8% |
| Recurring financial charges | 65 | €9,206 | €5,268 | -€3,938 | -42.8% |
| Profit (loss) for the period before taxes | 9903 | -€4,761 | €134,139 | +€138,900 | |
| Income taxes | 67/77 | €552 | €12,794 | +€12,242 | +2215.9% |
| Profit (loss) for the period | 9904 | -€5,314 | €121,345 | +€126,659 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,314 | €121,345 | +€126,659 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.