Verbeeck Management: what changed
Verbeeck Management
Largest movements
- Tangible fixed assets +€144,593
up €144,593 (+51.8%), from €279,075 to €423,668
of which Land and buildings: +€134,569
- Cash +€37,304
up €37,304 (+24.9%), from €149,558 to €186,862
mainly Debts after one year (+€120,898) and Net result for the year (+€70,247)
- Receivables within one year +€14,267
up €14,267 (+49.8%), from €28,665 to €42,932
of which Other amounts receivable: +€8,460
- Debts after one year +€120,898
up €120,898 (+93.4%), from €129,481 to €250,379
- Tax, wage and social debts +€50,770
up €50,770 (+159%), from €31,854 to €82,625
- Other debts +€20,317
up €20,317 (+27.5%), from €73,975 to €94,292
- Contributions -€18,000
down €18,000 (-96.8%), from €18,600 to €600
- Reserves +€8,685
up €8,685 (+4.9%), from €177,307 to €185,992
- Gross operating margin +€54,147
up €54,147 (+46.8%), from €115,582 to €169,728
- Depreciation +€23,913
up €23,913 (+77.5%), from €30,838 to €54,751
- Taxes +€9,847
up €9,847 (+53.2%), from €18,511 to €28,357
- Other operating charges -€2,538
down €2,538 (-56.3%), from €4,504 to €1,966
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €459,371 | €654,485 | +€195,114 | +42.5% |
| Fixed assets | 21/28 | €279,075 | €423,668 | +€144,593 | +51.8% |
| Tangible fixed assets | 22/27 | €279,075 | €423,668 | +€144,593 | +51.8% |
| Land and buildings | 22 | €233,031 | €367,599 | +€134,569 | +57.7% |
| Plant, machinery and equipment | 23 | €10,430 | €9,091 | -€1,339 | -12.8% |
| Furniture and vehicles | 24 | €34,669 | €39,945 | +€5,276 | +15.2% |
| Other tangible fixed assets | 26 | €946 | €7,033 | +€6,088 | +644% |
| Current assets | 29/58 | €180,296 | €230,817 | +€50,521 | +28.0% |
| Amounts receivable within one year | 40/41 | €28,665 | €42,932 | +€14,267 | +49.8% |
| Trade receivables | 40 | €12,996 | €18,804 | +€5,807 | +44.7% |
| Other amounts receivable | 41 | €15,669 | €24,129 | +€8,460 | +54.0% |
| Cash at bank and in hand | 54/58 | €149,558 | €186,862 | +€37,304 | +24.9% |
| Deferred charges and accrued income | 490/1 | €2,073 | €1,023 | -€1,050 | -50.7% |
| Total equity and liabilities | 10/49 | €459,371 | €654,485 | +€195,114 | +42.5% |
| Equity | 10/15 | €195,907 | €186,592 | -€9,315 | -4.8% |
| Contributions | 10/11 | €18,600 | €600 | -€18,000 | -96.8% |
| Reserves | 13 | €177,307 | €185,992 | +€8,685 | +4.9% |
| Distributable reserves | 133 | €177,307 | €185,992 | +€8,685 | +4.9% |
| Amounts payable | 17/49 | €263,464 | €467,893 | +€204,430 | +77.6% |
| Amounts payable after more than one year | 17 | €129,481 | €250,379 | +€120,898 | +93.4% |
| Financial debts | 170/4 | €129,481 | €250,379 | +€120,898 | +93.4% |
| Amounts payable within one year | 42/48 | €133,983 | €217,514 | +€83,531 | +62.3% |
| Current portion of amounts payable after more than one year | 42 | €23,550 | €28,895 | +€5,345 | +22.7% |
| Financial debts | 43 | €4,500 | €10,000 | +€5,500 | +122% |
| Other loans | 439 | €4,500 | €10,000 | +€5,500 | +122% |
| Trade debts | 44 | €104 | €1,703 | +€1,599 | +1,540% |
| Suppliers | 440/4 | €104 | €1,703 | +€1,599 | +1,540% |
| Taxes, remuneration and social security | 45 | €31,854 | €82,625 | +€50,770 | +159% |
| Taxes | 450/3 | €31,854 | €82,625 | +€50,770 | +159% |
| Other amounts payable | 47/48 | €73,975 | €94,292 | +€20,317 | +27.5% |
| Non-recurring operating income | 76A | - | €73,048 | +€73,048 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,838 | €54,751 | +€23,913 | +77.5% |
| Other operating charges | 640/8 | €4,504 | €1,966 | -€2,538 | -56.3% |
| Non-recurring operating charges | 66A | €1,203 | - | -€1,203 | |
| Gross operating margin | 9900 | €115,582 | €169,728 | +€54,147 | +46.8% |
| Operating profit (loss) | 9901 | €79,037 | €113,011 | +€33,974 | +43.0% |
| Financial income | 75/76B | - | €12 | +€12 | |
| Recurring financial income | 75 | - | €12 | +€12 | |
| Financial charges | 65/66B | €13,667 | €14,417 | +€750 | +5.5% |
| Recurring financial charges | 65 | €13,667 | €14,417 | +€750 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | €65,369 | €98,605 | +€33,235 | +50.8% |
| Income taxes | 67/77 | €18,511 | €28,357 | +€9,847 | +53.2% |
| Profit (loss) for the period | 9904 | €46,859 | €70,247 | +€23,388 | +49.9% |
| Profit (loss) for the period to be appropriated | 9905 | €46,859 | €70,247 | +€23,388 | +49.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.