VERBEKE J.: what changed
VERBEKE J.
Largest movements
- Current investments -€151,433
down €151,433 (-14.1%), from €1.1m to €921,632
- Receivables within one year +€25,103
up €25,103 (+906%), from €2,771 to €27,874
- Cash +€20,440
up €20,440 (+61.9%), from €33,019 to €53,458
mainly Net result for the year (+€298,820) and Current investments (+€151,433)
- Tangible fixed assets -€12,969
down €12,969 (-14.1%), from €91,938 to €78,969
of which Land and buildings: -€9,000
- Reserves -€191,113
down €191,113 (-18.9%), from €1.0m to €821,367
of which Distributable reserves: -€191,113
- Other debts +€41,263
up €41,263 (+29.6%), from €139,168 to €180,431
- Tax, wage and social debts +€27,524
up €27,524 (+105%), from €26,253 to €53,777
- Financial income +€23,732
up €23,732 (+141%), from €16,842 to €40,574
- Gross operating margin +€17,043
up €17,043 (+4.2%), from €402,140 to €419,183
- Taxes +€8,301
up €8,301 (+6.6%), from €126,258 to €134,559
- Financial charges -€5,731
down €5,731 (-37.4%), from €15,343 to €9,612
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 | €1,204,377 | €1,085,662 | -€118,715 | -9.9% |
| Fixed assets | 21/28 | €91,938 | €78,969 | -€12,969 | -14.1% |
| Tangible fixed assets | 22/27 | €91,938 | €78,969 | -€12,969 | -14.1% |
| Land and buildings | 22 | €81,000 | €72,000 | -€9,000 | -11.1% |
| Plant, machinery and equipment | 23 | €6,714 | €4,130 | -€2,584 | -38.5% |
| Furniture and vehicles | 24 | €4,224 | €2,839 | -€1,385 | -32.8% |
| Current assets | 29/58 | €1,112,439 | €1,006,693 | -€105,746 | -9.5% |
| Amounts receivable within one year | 40/41 | €2,771 | €27,874 | +€25,103 | +906% |
| Other amounts receivable | 41 | €2,771 | €27,874 | +€25,103 | +906% |
| Current investments | 50/53 | €1,073,064 | €921,632 | -€151,433 | -14.1% |
| Cash at bank and in hand | 54/58 | €33,019 | €53,458 | +€20,440 | +61.9% |
| Deferred charges and accrued income | 490/1 | €3,585 | €3,730 | +€145 | +4.0% |
| Total equity and liabilities | 10/49 | €1,204,377 | €1,085,662 | -€118,715 | -9.9% |
| Equity | 10/15 | €1,017,020 | €825,907 | -€191,113 | -18.8% |
| Contributions | 10/11 | €4,540 | €4,540 | = | 0.0% |
| Reserves | 13 | €1,012,480 | €821,367 | -€191,113 | -18.9% |
| Tax-exempt reserves | 132 | €2,623 | €2,623 | = | 0.0% |
| Distributable reserves | 133 | €1,009,857 | €818,744 | -€191,113 | -18.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €187,357 | €259,755 | +€72,398 | +38.6% |
| Amounts payable within one year | 42/48 | €187,357 | €259,755 | +€72,398 | +38.6% |
| Financial debts | 43 | €20,000 | €25,000 | +€5,000 | +25.0% |
| Credit institutions | 430/8 | €20,000 | €25,000 | +€5,000 | +25.0% |
| Trade debts | 44 | €1,936 | €547 | -€1,389 | -71.8% |
| Suppliers | 440/4 | €1,936 | €547 | -€1,389 | -71.8% |
| Taxes, remuneration and social security | 45 | €26,253 | €53,777 | +€27,524 | +105% |
| Taxes | 450/3 | €26,253 | €53,777 | +€27,524 | +105% |
| Other amounts payable | 47/48 | €139,168 | €180,431 | +€41,263 | +29.6% |
| Non-recurring operating income | 76A | €1,651 | €0 | -€1,651 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,658 | €12,969 | +€311 | +2.5% |
| Other operating charges | 640/8 | €2,189 | €3,797 | +€1,608 | +73.5% |
| Gross operating margin | 9900 | €402,140 | €419,183 | +€17,043 | +4.2% |
| Operating profit (loss) | 9901 | €387,292 | €402,417 | +€15,124 | +3.9% |
| Financial income | 75/76B | €16,842 | €40,574 | +€23,732 | +141% |
| Recurring financial income | 75 | €16,842 | €40,574 | +€23,732 | +141% |
| Financial charges | 65/66B | €15,343 | €9,612 | -€5,731 | -37.4% |
| Recurring financial charges | 65 | €15,343 | €9,612 | -€5,731 | -37.4% |
| Profit (loss) for the period before taxes | 9903 | €388,792 | €433,379 | +€44,587 | +11.5% |
| Income taxes | 67/77 | €126,258 | €134,559 | +€8,301 | +6.6% |
| Profit (loss) for the period | 9904 | €262,534 | €298,820 | +€36,286 | +13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €262,534 | €298,820 | +€36,286 | +13.8% |
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 7 November 2026 via checked.be.