VERBEKE SHIPPING: 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.
What changed
VERBEKE SHIPPING
NACE 50.400, Inland freight water transport
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€285,475
2024 · €75,863-€361,338
Equity
€5.0m
2024 · €5.2m-€285,475
Cash
€85,794
2024 · €4,748+€81,046
Balance sheet total
€8.8m
2024 · €9.8m-€1.0m
Largest movements
Assets
- Tangible fixed assets -€547,789
down €547,789 (-9.5%), from €5.8m to €5.2m
of which Furniture and vehicles: -€533,530
- Financial fixed assets -€310,025
down €310,025 (-9.2%), from €3.4m to €3.1m
of which Affiliated companies: -€263,610
- Deferred charges and accrued income -€127,097
down €127,097 (-84.6%), from €150,147 to €23,050
- Receivables within one year -€120,650
down €120,650 (-23.4%), from €516,674 to €396,024
of which Trade receivables: -€130,074
Equity and liabilities
- Reserves -€1.8m
down €1.8m (-100%), from €1.8m to €0
- Profit (loss) carried forward +€1.5m
up €1.5m (+38.6%), from -€3.9m to -€2.4m
- Debts after one year -€558,091
down €558,091 (-14.8%), from €3.8m to €3.2m
Income statement
- Financial charges +€2.4m
up €2.4m (+1,238%), from €192,287 to €2.6m
of which Non-recurring financial charges: +€2.5m
- Financial income +€2.3m
up €2.3m (+930%), from €242,500 to €2.5m
of which Non-recurring financial income: +€2.3m
- Turnover -€177,809
down €177,809 (-7.4%), from €2.4m to €2.2m
- Goods and materials +€116,982
up €116,982 (+53.0%), from €220,921 to €337,903
- Taxes -€32,149
down €32,149 (-100%), from €32,149 to €0
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.
Result 2024
€75,863
Turnover
-€177,809
Other operating income
+€25,973
Goods and materials
-€116,982
Services and other goods
-€10,885
Staff costs
-€7,839
Depreciation
+€14,658
Other operating charges
+€4,925
Financial income
+€2.3m
Financial charges
-€2.4m
Taxes
+€32,149
Result 2025
-€285,475
raises the resultlowers the result
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.
From operations
+€466,660
Investment
+€299,043
Financing
-€684,657
Cash 2024
€4,748
From operations (derived)
+€466,660
Net result for the year
-€285,475
Depreciation
+€558,771
Stocks and contracts
-€5,051
Receivables within one year
+€120,650
Deferred charges and accrued income
+€127,097
Trade debts
-€26,129
Tax, wage and social debts
-€10,169
Accrued charges and deferred income
-€13,035
Investment (derived)
+€299,043
Investment in fixed assets (net)
+€299,043
Financing
-€684,657
Debts after one year
-€558,091
Current portion of long-term debt
-€68,225
Short-term financial debts
-€58,341
Cash 2025
€85,794
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,795,893 | €8,776,429 | -€1.0m | -10.4% |
| Fixed assets | 21/28 | €9,117,699 | €8,259,885 | -€857,814 | -9.4% |
| Tangible fixed assets | 22/27 | €5,750,959 | €5,203,170 | -€547,789 | -9.5% |
| Plant, machinery and equipment | 23 | €71,774 | €57,836 | -€13,939 | -19.4% |
| Furniture and vehicles | 24 | €5,678,864 | €5,145,334 | -€533,530 | -9.4% |
| Other tangible fixed assets | 26 | €320 | €0 | -€320 | -100% |
| Financial fixed assets | 28 | €3,366,740 | €3,056,715 | -€310,025 | -9.2% |
| Affiliated companies | 280/1 | €2,615,590 | €2,351,980 | -€263,610 | -10.1% |
| Participating interests | 280 | €544,000 | €544,000 | = | 0.0% |
| Amounts receivable | 281 | €2,071,590 | €1,807,980 | -€263,610 | -12.7% |
| Companies linked by participating interests | 282/3 | €751,000 | €704,500 | -€46,500 | -6.2% |
| Participating interests | 282 | €704,500 | €704,500 | = | 0.0% |
| Amounts receivable | 283 | €46,500 | €0 | -€46,500 | -100% |
| Other financial fixed assets | 284/8 | €150 | €235 | +€85 | +56.7% |
| Amounts receivable and cash guarantees | 285/8 | €150 | €235 | +€85 | +56.7% |
| Current assets | 29/58 | €678,194 | €516,544 | -€161,651 | -23.8% |
| Stocks and contracts in progress | 3 | €6,625 | €11,676 | +€5,051 | +76.2% |
| Stocks | 30/36 | €6,625 | €11,676 | +€5,051 | +76.2% |
| Raw materials and consumables | 30/31 | €6,625 | €11,676 | +€5,051 | +76.2% |
| Goods purchased for resale | 34 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €516,674 | €396,024 | -€120,650 | -23.4% |
| Trade receivables | 40 | €494,154 | €364,080 | -€130,074 | -26.3% |
| Other amounts receivable | 41 | €22,520 | €31,943 | +€9,424 | +41.8% |
| Cash at bank and in hand | 54/58 | €4,748 | €85,794 | +€81,046 | +1,707% |
| Deferred charges and accrued income | 490/1 | €150,147 | €23,050 | -€127,097 | -84.6% |
| Total equity and liabilities | 10/49 | €9,795,893 | €8,776,429 | -€1.0m | -10.4% |
| Equity | 10/15 | €5,243,918 | €4,958,444 | -€285,475 | -5.4% |
| Contributions | 10/11 | €7,331,100 | €7,331,100 | = | 0.0% |
| Reserves | 13 | €1,776,288 | €0 | -€1.8m | -100% |
| Distributable reserves | 133 | €1,776,288 | €0 | -€1.8m | -100% |
| Profit (loss) carried forward | 14 | -€3,863,470 | -€2,372,656 | +€1.5m | +38.6% |
| Amounts payable | 17/49 | €4,551,975 | €3,817,985 | -€733,990 | -16.1% |
| Amounts payable after more than one year | 17 | €3,777,510 | €3,219,419 | -€558,091 | -14.8% |
| Financial debts | 170/4 | €3,777,510 | €3,219,419 | -€558,091 | -14.8% |
| Credit institutions | 173 | €3,420,010 | €3,144,419 | -€275,591 | -8.1% |
| Other loans | 174 | €357,500 | €75,000 | -€282,500 | -79.0% |
| Amounts payable within one year | 42/48 | €755,447 | €592,584 | -€162,864 | -21.6% |
| Current portion of amounts payable after more than one year | 42 | €343,483 | €275,257 | -€68,225 | -19.9% |
| Financial debts | 43 | €158,341 | €100,000 | -€58,341 | -36.8% |
| Credit institutions | 430/8 | €158,341 | €100,000 | -€58,341 | -36.8% |
| Trade debts | 44 | €168,756 | €142,627 | -€26,129 | -15.5% |
| Suppliers | 440/4 | €168,756 | €142,627 | -€26,129 | -15.5% |
| Taxes, remuneration and social security | 45 | €84,053 | €73,884 | -€10,169 | -12.1% |
| Taxes | 450/3 | €31,807 | €15,802 | -€16,005 | -50.3% |
| Remuneration and social security | 454/9 | €52,246 | €58,082 | +€5,837 | +11.2% |
| Other amounts payable | 47/48 | €815 | €815 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €19,017 | €5,982 | -€13,035 | -68.5% |
| Operating income | 70/76A | €2,476,204 | €2,324,368 | -€151,836 | -6.1% |
| Turnover | 70 | €2,403,800 | €2,225,991 | -€177,809 | -7.4% |
| Other operating income | 74 | €72,404 | €98,377 | +€25,973 | +35.9% |
| Operating charges | 60/66A | €2,418,404 | €2,534,526 | +€116,122 | +4.8% |
| Goods for resale, raw materials and consumables | 60 | €220,921 | €337,903 | +€116,982 | +53.0% |
| Purchases | 600/8 | €220,921 | €337,903 | +€116,982 | +53.0% |
| Services and other goods | 61 | €774,548 | €785,433 | +€10,885 | +1.4% |
| Remuneration, social security and pensions | 62 | €833,356 | €841,195 | +€7,839 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €573,429 | €558,771 | -€14,658 | -2.6% |
| Other operating charges | 640/8 | €16,150 | €11,224 | -€4,925 | -30.5% |
| Operating profit (loss) | 9901 | €57,800 | -€210,158 | -€267,957 | |
| Financial income | 75/76B | €242,500 | €2,497,243 | +€2.3m | +930% |
| Recurring financial income | 75 | €0 | €1,743 | +€1,743 | |
| Income from current assets | 751 | - | €1,733 | +€1,733 | |
| Other financial income | 752/9 | €0 | €10 | +€10 | |
| Non-recurring financial income | 76B | €242,500 | €2,495,500 | +€2.3m | +929% |
| Financial charges | 65/66B | €192,287 | €2,572,560 | +€2.4m | +1,238% |
| Recurring financial charges | 65 | €192,287 | €98,450 | -€93,837 | -48.8% |
| Debt charges | 650 | €125,674 | €98,004 | -€27,669 | -22.0% |
| Other financial charges | 652/9 | €66,613 | €445 | -€66,168 | -99.3% |
| Non-recurring financial charges | 66B | €0 | €2,474,110 | +€2.5m | |
| Profit (loss) for the period before taxes | 9903 | €108,013 | -€285,475 | -€393,487 | |
| Income taxes | 67/77 | €32,149 | €0 | -€32,149 | -100% |
| Taxes | 670/3 | €32,149 | €0 | -€32,149 | -100% |
| Profit (loss) for the period | 9904 | €75,863 | -€285,475 | -€361,338 | |
| Profit (loss) for the period to be appropriated | 9905 | €75,863 | -€285,475 | -€361,338 |
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 26 October 2026 via checked.be.