VERBEKE CONSULT: 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.
VERBEKE CONSULT
Largest movements
- Tangible fixed assets -€572,601
no longer reported in 2025 (was €572,601)
of which Land and buildings: -€533,608
- Receivables within one year -€14,205
down €14,205 (-8.0%), from €176,864 to €162,659
of which Trade receivables: -€14,432
- Debts after one year -€720,419
down €720,419 (-76.0%), from €947,419 to €227,000
- Revaluation surpluses -€392,174
no longer reported in 2025 (was €392,174)
- Profit (loss) carried forward +€365,471
up €365,471 (+76.2%), from -€479,342 to -€113,871
- Other debts +€176,558
up €176,558 (+1,583%), from €11,157 to €187,715
- Trade debts -€14,293
down €14,293 (-99.4%), from €14,375 to €83
- Gross operating margin +€378,680
up €378,680, from -€9,868 to €368,812
- Financial charges -€109,858
down €109,858 (-99.9%), from €109,975 to €117
of which Financial charges: -€109,608
- Depreciation -€27,057
no longer reported in 2025 (was €27,057)
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 | €1,227,116 | €642,259 | -€584,857 | -47.7% |
| Fixed assets | 21/28 | €1,050,020 | €477,419 | -€572,601 | -54.5% |
| Tangible fixed assets | 22/27 | €572,601 | - | -€572,601 | |
| Land and buildings | 22 | €533,608 | - | -€533,608 | |
| Plant, machinery and equipment | 23 | €3,409 | - | -€3,409 | |
| Furniture and vehicles | 24 | €35,585 | - | -€35,585 | |
| Financial fixed assets | 28 | €477,419 | €477,419 | = | 0.0% |
| Current assets | 29/58 | €177,095 | €164,840 | -€12,255 | -6.9% |
| Amounts receivable within one year | 40/41 | €176,864 | €162,659 | -€14,205 | -8.0% |
| Trade receivables | 40 | €176,772 | €162,341 | -€14,432 | -8.2% |
| Other amounts receivable | 41 | €92 | €319 | +€227 | +248% |
| Cash at bank and in hand | 54/58 | €231 | €2,181 | +€1,949 | +843% |
| Total equity and liabilities | 10/49 | €1,227,116 | €642,259 | -€584,857 | -47.7% |
| Equity | 10/15 | -€67,048 | -€93,751 | -€26,703 | -39.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | €20,000 | = | 0.0% |
| Share premium | 1100/10 | - | €20,000 | +€20,000 | |
| Other | 1109/19 | €20,000 | - | -€20,000 | |
| Revaluation surpluses | 12 | €392,174 | - | -€392,174 | |
| Reserves | 13 | €120 | €120 | = | 0.0% |
| Non-distributable reserves | 130/1 | €120 | €120 | = | 0.0% |
| Reserves not available under the articles | 1311 | €120 | €120 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€479,342 | -€113,871 | +€365,471 | +76.2% |
| Amounts payable | 17/49 | €1,294,164 | €736,010 | -€558,154 | -43.1% |
| Amounts payable after more than one year | 17 | €947,419 | €227,000 | -€720,419 | -76.0% |
| Financial debts | 170/4 | €947,419 | €227,000 | -€720,419 | -76.0% |
| Amounts payable within one year | 42/48 | €25,613 | €187,879 | +€162,265 | +634% |
| Trade debts | 44 | €14,375 | €83 | -€14,293 | -99.4% |
| Suppliers | 440/4 | €14,375 | €83 | -€14,293 | -99.4% |
| Taxes, remuneration and social security | 45 | €81 | €81 | = | 0.0% |
| Taxes | 450/3 | €81 | €81 | = | 0.0% |
| Other amounts payable | 47/48 | €11,157 | €187,715 | +€176,558 | +1,583% |
| Accrued charges and deferred income | 492/3 | €321,131 | €321,131 | = | 0.0% |
| Non-recurring operating income | 76A | - | €371,521 | +€371,521 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,057 | - | -€27,057 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €484 | - | -€484 | |
| Other operating charges | 640/8 | €4,540 | €3,224 | -€1,316 | -29.0% |
| Gross operating margin | 9900 | -€9,868 | €368,812 | +€378,680 | |
| Operating profit (loss) | 9901 | -€41,950 | €365,588 | +€407,537 | |
| Financial income | 75/76B | €22 | - | -€22 | |
| Recurring financial income | 75 | €22 | - | -€22 | |
| Financial charges | 65/66B | €109,975 | €117 | -€109,858 | -99.9% |
| Recurring financial charges | 65 | €109,725 | €117 | -€109,608 | -99.9% |
| Non-recurring financial charges | 66B | €250 | - | -€250 | |
| Profit (loss) for the period before taxes | 9903 | -€151,902 | €365,471 | +€517,373 | |
| Profit (loss) for the period | 9904 | -€151,902 | €365,471 | +€517,373 | |
| Profit (loss) for the period to be appropriated | 9905 | -€151,902 | €365,471 | +€517,373 |
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 23 October 2026 via checked.be.