Verbael: 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.
Verbael
Largest movements
- Receivables within one year +€29,534
up €29,534 (+104%), from €28,380 to €57,914
of which Other amounts receivable: +€28,334
- Cash -€22,496
down €22,496 (-28.6%), from €78,573 to €56,077
mainly Contributions, distributions and other (-€30,500) and Receivables within one year (-€29,534)
- Financial fixed assets +€9,375
up €9,375 (+100%), from €9,375 to €18,750
- Other debts +€22,364
up €22,364 (+905%), from €2,472 to €24,836
- Profit (loss) carried forward -€5,704
down €5,704 (-31.1%), from €18,331 to €12,627
- Gross operating margin -€4,485
down €4,485 (-10.5%), from €42,560 to €38,076
- Other operating charges +€2,956
up €2,956 (+168%), from €1,756 to €4,712
- Financial charges +€1,396
up €1,396 (+1,139%), from €123 to €1,519
- Taxes -€872
down €872 (-10.1%), from €8,605 to €7,733
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 | €116,328 | €132,741 | +€16,413 | +14.1% |
| Fixed assets | 21/28 | €9,375 | €18,750 | +€9,375 | +100% |
| Financial fixed assets | 28 | €9,375 | €18,750 | +€9,375 | +100% |
| Current assets | 29/58 | €106,953 | €113,991 | +€7,038 | +6.6% |
| Amounts receivable within one year | 40/41 | €28,380 | €57,914 | +€29,534 | +104% |
| Trade receivables | 40 | €28,380 | €29,580 | +€1,200 | +4.2% |
| Other amounts receivable | 41 | - | €28,334 | +€28,334 | |
| Cash at bank and in hand | 54/58 | €78,573 | €56,077 | -€22,496 | -28.6% |
| Total equity and liabilities | 10/49 | €116,328 | €132,741 | +€16,413 | +14.1% |
| Equity | 10/15 | €113,581 | €107,877 | -€5,704 | -5.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €90,250 | €90,250 | = | 0.0% |
| Distributable reserves | 133 | €90,250 | €90,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,331 | €12,627 | -€5,704 | -31.1% |
| Amounts payable | 17/49 | €2,747 | €24,864 | +€22,117 | +805% |
| Amounts payable within one year | 42/48 | €2,747 | €24,864 | +€22,117 | +805% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €274 | €28 | -€247 | -89.9% |
| Taxes | 450/3 | €274 | €28 | -€247 | -89.9% |
| Other amounts payable | 47/48 | €2,472 | €24,836 | +€22,364 | +905% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €1,756 | €4,712 | +€2,956 | +168% |
| Gross operating margin | 9900 | €42,560 | €38,076 | -€4,485 | -10.5% |
| Operating profit (loss) | 9901 | €40,804 | €33,364 | -€7,441 | -18.2% |
| Financial income | 75/76B | €1,102 | €684 | -€418 | -37.9% |
| Recurring financial income | 75 | €1,102 | €684 | -€418 | -37.9% |
| Financial charges | 65/66B | €123 | €1,519 | +€1,396 | +1,139% |
| Recurring financial charges | 65 | €123 | €1,519 | +€1,396 | +1,139% |
| Profit (loss) for the period before taxes | 9903 | €41,784 | €32,529 | -€9,255 | -22.1% |
| Income taxes | 67/77 | €8,605 | €7,733 | -€872 | -10.1% |
| Profit (loss) for the period | 9904 | €33,179 | €24,796 | -€8,383 | -25.3% |
| Profit (loss) for the period to be appropriated | 9905 | €33,179 | €24,796 | -€8,383 | -25.3% |
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 29 October 2026 via checked.be.