Verbeeck: 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.
Verbeeck
Largest movements
- Cash +€693,772
up €693,772 (+284.8%), from €243,596 to €937,368
mainly Net result for the year (+€589,379) and Investment in fixed assets (net) (+€500,027)
- Financial fixed assets -€604,793
down €604,793 (-100.0%), from €604,793 to €0
- Receivables after one year +€120,000
new in 2025: €120,000
- Current investments +€118,632
up €118,632 (+24.7%), from €479,907 to €598,538
- Receivables within one year +€109,075
up €109,075 (+52.3%), from €208,747 to €317,822
of which Trade receivables: +€148,327
- Reserves +€423,293
up €423,293 (+28.0%), from €1.5m to €1.9m
- Debts after one year +€37,116
new in 2025: €37,116
- Current portion of long-term debt +€28,753
new in 2025: €28,753
- Financial income +€210,371
up €210,371 (+256.7%), from €81,961 to €292,332
of which Non-recurring financial income: +€244,265
- Depreciation -€30,729
down €30,729 (-47.9%), from €64,088 to €33,359
- Gross operating margin -€23,308
down €23,308 (-4.2%), from €549,087 to €525,779
- Taxes +€22,415
up €22,415 (+14.3%), from €156,421 to €178,837
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 | €1,653,226 | €2,160,436 | +€507,210 | +30.7% |
| Fixed assets | 21/28 | €720,094 | €186,708 | -€533,386 | -74.1% |
| Tangible fixed assets | 22/27 | €115,301 | €186,708 | +€71,406 | +61.9% |
| Land and buildings | 22 | €61,045 | €49,038 | -€12,007 | -19.7% |
| Plant, machinery and equipment | 23 | €2,790 | €2,833 | +€42 | +1.5% |
| Furniture and vehicles | 24 | €38,339 | €121,710 | +€83,371 | +217.5% |
| Other tangible fixed assets | 26 | €13,127 | €13,127 | = | 0.0% |
| Financial fixed assets | 28 | €604,793 | €0 | -€604,793 | -100.0% |
| Current assets | 29/58 | €933,132 | €1,973,729 | +€1.0m | +111.5% |
| Amounts receivable after more than one year | 29 | - | €120,000 | +€120,000 | |
| Other amounts receivable | 291 | - | €120,000 | +€120,000 | |
| Amounts receivable within one year | 40/41 | €208,747 | €317,822 | +€109,075 | +52.3% |
| Trade receivables | 40 | €98,547 | €246,874 | +€148,327 | +150.5% |
| Other amounts receivable | 41 | €110,200 | €70,948 | -€39,252 | -35.6% |
| Current investments | 50/53 | €479,907 | €598,538 | +€118,632 | +24.7% |
| Cash at bank and in hand | 54/58 | €243,596 | €937,368 | +€693,772 | +284.8% |
| Deferred charges and accrued income | 490/1 | €882 | €0 | -€882 | -100.0% |
| Total equity and liabilities | 10/49 | €1,653,226 | €2,160,436 | +€507,210 | +30.7% |
| Equity | 10/15 | €1,551,321 | €1,974,614 | +€423,293 | +27.3% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €1,511,321 | €1,934,614 | +€423,293 | +28.0% |
| Distributable reserves | 133 | €1,511,321 | €1,934,614 | +€423,293 | +28.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €101,905 | €185,822 | +€83,916 | +82.3% |
| Amounts payable after more than one year | 17 | - | €37,116 | +€37,116 | |
| Financial debts | 170/4 | - | €37,116 | +€37,116 | |
| Amounts payable within one year | 42/48 | €101,905 | €148,706 | +€46,800 | +45.9% |
| Current portion of amounts payable after more than one year | 42 | - | €28,753 | +€28,753 | |
| Financial debts | 43 | €33,823 | €33,890 | +€68 | +0.2% |
| Credit institutions | 430/8 | €33,823 | €33,890 | +€68 | +0.2% |
| Trade debts | 44 | €7,555 | €19,713 | +€12,158 | +160.9% |
| Suppliers | 440/4 | €7,555 | €19,713 | +€12,158 | +160.9% |
| Taxes, remuneration and social security | 45 | €55,438 | €64,959 | +€9,521 | +17.2% |
| Taxes | 450/3 | €55,438 | €64,959 | +€9,521 | +17.2% |
| Other amounts payable | 47/48 | €5,090 | €1,391 | -€3,699 | -72.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | €25,226 | +€25,226 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,088 | €33,359 | -€30,729 | -47.9% |
| Other operating charges | 640/8 | €9,630 | €8,573 | -€1,057 | -11.0% |
| Non-recurring operating charges | 66A | - | €827 | +€827 | |
| Gross operating margin | 9900 | €549,087 | €525,779 | -€23,308 | -4.2% |
| Operating profit (loss) | 9901 | €475,369 | €483,019 | +€7,651 | +1.6% |
| Financial income | 75/76B | €81,961 | €292,332 | +€210,371 | +256.7% |
| Recurring financial income | 75 | €81,961 | €48,068 | -€33,893 | -41.4% |
| Non-recurring financial income | 76B | - | €244,265 | +€244,265 | |
| Financial charges | 65/66B | €10,731 | €7,137 | -€3,595 | -33.5% |
| Recurring financial charges | 65 | €10,731 | €7,137 | -€3,595 | -33.5% |
| Profit (loss) for the period before taxes | 9903 | €546,599 | €768,215 | +€221,616 | +40.5% |
| Income taxes | 67/77 | €156,421 | €178,837 | +€22,415 | +14.3% |
| Profit (loss) for the period | 9904 | €390,178 | €589,379 | +€199,201 | +51.1% |
| Profit (loss) for the period to be appropriated | 9905 | €390,178 | €589,379 | +€199,201 | +51.1% |
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 6 October 2026 via checked.be.