Verbeke Nick: 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 Nick
Largest movements
- Cash -€14,566
down €14,566 (-36.5%), from €39,955 to €25,389
mainly Contributions, distributions and other (-€30,560) and Receivables within one year (-€5,101)
- Receivables within one year +€5,101
up €5,101 (+73.8%), from €6,908 to €12,010
of which Other amounts receivable: +€3,362
- Tangible fixed assets -€4,551
down €4,551 (-69.5%), from €6,549 to €1,999
of which Leasing and similar rights: -€4,765
- Deferred charges and accrued income -€3,734
down €3,734 (-38.9%), from €9,591 to €5,857
- Reserves -€22,770
down €22,770 (-100%), from €22,770 to €0
- Other debts +€8,255
up €8,255 (+35.1%), from €23,506 to €31,761
- Debts after one year -€4,306
down €4,306 (-100%), from €4,306 to €0
- Current portion of long-term debt -€2,387
down €2,387 (-35.7%), from €6,693 to €4,306
- Short-term financial debts +€2,356
new in 2025: €2,356
- Gross operating margin -€16,859
down €16,859 (-42.3%), from €39,848 to €22,989
- Taxes -€3,128
down €3,128 (-44.4%), from €7,048 to €3,921
- Financial income -€1,530
down €1,530 (-100.0%), from €1,530 to €0
- Financial charges +€981
up €981 (+26.0%), from €3,777 to €4,758
- Other operating charges -€917
down €917 (-49.2%), from €1,864 to €947
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 | €63,995 | €46,333 | -€17,662 | -27.6% |
| Fixed assets | 21/28 | €6,549 | €1,999 | -€4,551 | -69.5% |
| Tangible fixed assets | 22/27 | €6,549 | €1,999 | -€4,551 | -69.5% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €975 | €1,189 | +€214 | +21.9% |
| Leasing and similar rights | 25 | €5,574 | €809 | -€4,765 | -85.5% |
| Current assets | 29/58 | €57,446 | €44,334 | -€13,111 | -22.8% |
| Stocks and contracts in progress | 3 | €992 | €1,079 | +€88 | +8.8% |
| Stocks | 30/36 | €992 | €1,079 | +€88 | +8.8% |
| Amounts receivable within one year | 40/41 | €6,908 | €12,010 | +€5,101 | +73.8% |
| Trade receivables | 40 | €4,199 | €5,938 | +€1,739 | +41.4% |
| Other amounts receivable | 41 | €2,709 | €6,072 | +€3,362 | +124% |
| Cash at bank and in hand | 54/58 | €39,955 | €25,389 | -€14,566 | -36.5% |
| Deferred charges and accrued income | 490/1 | €9,591 | €5,857 | -€3,734 | -38.9% |
| Total equity and liabilities | 10/49 | €63,995 | €46,333 | -€17,662 | -27.6% |
| Equity | 10/15 | €25,270 | €2,500 | -€22,770 | -90.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €22,770 | €0 | -€22,770 | -100% |
| Distributable reserves | 133 | €22,770 | €0 | -€22,770 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €38,725 | €43,833 | +€5,108 | +13.2% |
| Amounts payable after more than one year | 17 | €4,306 | €0 | -€4,306 | -100% |
| Financial debts | 170/4 | €4,306 | €0 | -€4,306 | -100% |
| Amounts payable within one year | 42/48 | €34,419 | €41,633 | +€7,214 | +21.0% |
| Current portion of amounts payable after more than one year | 42 | €6,693 | €4,306 | -€2,387 | -35.7% |
| Financial debts | 43 | - | €2,356 | +€2,356 | |
| Other loans | 439 | - | €2,356 | +€2,356 | |
| Trade debts | 44 | €3,565 | €3,162 | -€403 | -11.3% |
| Suppliers | 440/4 | €3,565 | €3,162 | -€403 | -11.3% |
| Taxes, remuneration and social security | 45 | €655 | €48 | -€607 | -92.6% |
| Taxes | 450/3 | €655 | €48 | -€607 | -92.6% |
| Other amounts payable | 47/48 | €23,506 | €31,761 | +€8,255 | +35.1% |
| Accrued charges and deferred income | 492/3 | - | €2,200 | +€2,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,918 | €5,461 | -€457 | -7.7% |
| Other operating charges | 640/8 | €1,864 | €947 | -€917 | -49.2% |
| Non-recurring operating charges | 66A | - | €113 | +€113 | |
| Gross operating margin | 9900 | €39,848 | €22,989 | -€16,859 | -42.3% |
| Operating profit (loss) | 9901 | €32,066 | €16,469 | -€15,597 | -48.6% |
| Financial income | 75/76B | €1,530 | €0 | -€1,530 | -100.0% |
| Recurring financial income | 75 | €1,530 | €0 | -€1,530 | -100.0% |
| Financial charges | 65/66B | €3,777 | €4,758 | +€981 | +26.0% |
| Recurring financial charges | 65 | €3,777 | €4,758 | +€981 | +26.0% |
| Profit (loss) for the period before taxes | 9903 | €29,818 | €11,711 | -€18,107 | -60.7% |
| Income taxes | 67/77 | €7,048 | €3,921 | -€3,128 | -44.4% |
| Profit (loss) for the period | 9904 | €22,770 | €7,790 | -€14,980 | -65.8% |
| Profit (loss) for the period to be appropriated | 9905 | €22,770 | €7,790 | -€14,980 | -65.8% |
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 19 October 2026 via checked.be.