VERBEKE FABIAN: 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 FABIAN
Largest movements
- Tangible fixed assets +€23,681
up €23,681 (+42.0%), from €56,346 to €80,027
of which Land and buildings: +€25,530
- Cash -€17,578
down €17,578 (-22.5%), from €78,052 to €60,474
mainly Investment in fixed assets (net) (-€41,130) and Current investments (-€15,171)
- Current investments +€15,171
up €15,171 (+46.5%), from €32,618 to €47,789
- Stocks and contracts +€6,923
up €6,923 (+21.8%), from €31,722 to €38,645
- Receivables within one year +€3,229
up €3,229 (+6.1%), from €52,685 to €55,914
of which Other amounts receivable: +€5,171
- Debts after one year +€22,773
up €22,773 (+467%), from €4,878 to €27,651
- Reserves +€7,200
up €7,200 (+3.9%), from €183,560 to €190,760
- Gross operating margin -€16,874
down €16,874 (-15.1%), from €111,920 to €95,046
- Taxes -€8,676
down €8,676 (-75.1%), from €11,551 to €2,875
- Staff costs +€6,897
up €6,897 (+12.1%), from €56,989 to €63,886
- Depreciation +€2,224
up €2,224 (+14.6%), from €15,226 to €17,450
- Financial income -€1,480
down €1,480 (-77.9%), from €1,898 to €419
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 | €251,513 | €282,849 | +€31,336 | +12.5% |
| Fixed assets | 21/28 | €56,346 | €80,027 | +€23,681 | +42.0% |
| Tangible fixed assets | 22/27 | €56,346 | €80,027 | +€23,681 | +42.0% |
| Land and buildings | 22 | €49,738 | €75,268 | +€25,530 | +51.3% |
| Plant, machinery and equipment | 23 | €1,409 | €1,809 | +€400 | +28.4% |
| Furniture and vehicles | 24 | €5,200 | €2,950 | -€2,249 | -43.3% |
| Current assets | 29/58 | €195,167 | €202,822 | +€7,655 | +3.9% |
| Stocks and contracts in progress | 3 | €31,722 | €38,645 | +€6,923 | +21.8% |
| Stocks | 30/36 | €31,722 | €38,645 | +€6,923 | +21.8% |
| Amounts receivable within one year | 40/41 | €52,685 | €55,914 | +€3,229 | +6.1% |
| Trade receivables | 40 | €52,685 | €50,743 | -€1,942 | -3.7% |
| Other amounts receivable | 41 | - | €5,171 | +€5,171 | |
| Current investments | 50/53 | €32,618 | €47,789 | +€15,171 | +46.5% |
| Cash at bank and in hand | 54/58 | €78,052 | €60,474 | -€17,578 | -22.5% |
| Deferred charges and accrued income | 490/1 | €90 | - | -€90 | |
| Total equity and liabilities | 10/49 | €251,513 | €282,849 | +€31,336 | +12.5% |
| Equity | 10/15 | €204,398 | €211,650 | +€7,252 | +3.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €183,560 | €190,760 | +€7,200 | +3.9% |
| Distributable reserves | 133 | €183,560 | €190,760 | +€7,200 | +3.9% |
| Profit (loss) carried forward | 14 | €2,238 | €2,290 | +€52 | +2.3% |
| Amounts payable | 17/49 | €47,114 | €71,198 | +€24,084 | +51.1% |
| Amounts payable after more than one year | 17 | €4,878 | €27,651 | +€22,773 | +467% |
| Financial debts | 170/4 | €4,878 | €27,651 | +€22,773 | +467% |
| Amounts payable within one year | 42/48 | €42,209 | €43,548 | +€1,338 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €10,070 | €12,342 | +€2,272 | +22.6% |
| Trade debts | 44 | €6,661 | €8,342 | +€1,680 | +25.2% |
| Suppliers | 440/4 | €6,661 | €8,342 | +€1,680 | +25.2% |
| Taxes, remuneration and social security | 45 | €6,928 | €6,588 | -€341 | -4.9% |
| Taxes | 450/3 | €6,928 | €6,588 | -€341 | -4.9% |
| Other amounts payable | 47/48 | €18,550 | €16,276 | -€2,274 | -12.3% |
| Accrued charges and deferred income | 492/3 | €27 | - | -€27 | |
| Remuneration, social security and pensions | 62 | €56,989 | €63,886 | +€6,897 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,226 | €17,450 | +€2,224 | +14.6% |
| Other operating charges | 640/8 | €2,364 | €2,428 | +€65 | +2.7% |
| Gross operating margin | 9900 | €111,920 | €95,046 | -€16,874 | -15.1% |
| Operating profit (loss) | 9901 | €37,341 | €11,282 | -€26,059 | -69.8% |
| Financial income | 75/76B | €1,898 | €419 | -€1,480 | -77.9% |
| Recurring financial income | 75 | €1,898 | €419 | -€1,480 | -77.9% |
| Financial charges | 65/66B | €1,422 | €1,574 | +€152 | +10.7% |
| Recurring financial charges | 65 | €1,422 | €1,574 | +€152 | +10.7% |
| Profit (loss) for the period before taxes | 9903 | €37,818 | €10,127 | -€27,691 | -73.2% |
| Income taxes | 67/77 | €11,551 | €2,875 | -€8,676 | -75.1% |
| Profit (loss) for the period | 9904 | €26,267 | €7,252 | -€19,015 | -72.4% |
| Profit (loss) for the period to be appropriated | 9905 | €26,267 | €7,252 | -€19,015 | -72.4% |
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 30 October 2026 via checked.be.