Verbeke - Van Acker: 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 - Van Acker
Largest movements
- Receivables after one year -€18,000
no longer reported in 2025 (was €18,000)
- Tangible fixed assets -€14,728
down €14,728 (-16.3%), from €90,445 to €75,717
of which Land and buildings: -€13,236
- Receivables within one year -€13,915
down €13,915 (-10.8%), from €129,360 to €115,445
of which Other amounts receivable: -€14,003
- Deferred charges and accrued income -€5,198
no longer reported in 2025 (was €5,198)
- Tax, wage and social debts -€27,256
down €27,256 (-91.8%), from €29,690 to €2,435
- Profit (loss) carried forward -€22,054
down €22,054 (-39.4%), from -€55,904 to -€77,958
- Short-term financial debts +€15,018
new in 2025: €15,018
- Debts after one year -€11,944
down €11,944 (-16.4%), from €73,041 to €61,097
- Current portion of long-term debt -€8,012
down €8,012 (-25.1%), from €31,924 to €23,911
- Financial income -€9,838
down €9,838 (-99.9%), from €9,844 to €5
- Financial charges -€7,921
down €7,921 (-74.4%), from €10,647 to €2,726
of which Non-recurring financial charges: -€6,395
- Gross operating margin +€5,328
up €5,328 (+58.3%), from -€9,143 to -€3,814
- Depreciation -€469
down €469 (-3.1%), from €15,197 to €14,728
- Other operating charges -€262
down €262 (-24.9%), from €1,053 to €791
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 | €243,331 | €191,171 | -€52,160 | -21.4% |
| Fixed assets | 21/28 | €90,445 | €75,717 | -€14,728 | -16.3% |
| Tangible fixed assets | 22/27 | €90,445 | €75,717 | -€14,728 | -16.3% |
| Land and buildings | 22 | €87,545 | €74,309 | -€13,236 | -15.1% |
| Plant, machinery and equipment | 23 | €951 | €453 | -€498 | -52.4% |
| Furniture and vehicles | 24 | €1,950 | €955 | -€995 | -51.0% |
| Current assets | 29/58 | €152,886 | €115,454 | -€37,432 | -24.5% |
| Amounts receivable after more than one year | 29 | €18,000 | - | -€18,000 | |
| Other amounts receivable | 291 | €18,000 | - | -€18,000 | |
| Amounts receivable within one year | 40/41 | €129,360 | €115,445 | -€13,915 | -10.8% |
| Trade receivables | 40 | €419 | €507 | +€88 | +21.0% |
| Other amounts receivable | 41 | €128,941 | €114,938 | -€14,003 | -10.9% |
| Cash at bank and in hand | 54/58 | €329 | €9 | -€320 | -97.2% |
| Deferred charges and accrued income | 490/1 | €5,198 | - | -€5,198 | |
| Total equity and liabilities | 10/49 | €243,331 | €191,171 | -€52,160 | -21.4% |
| Equity | 10/15 | €106,913 | €84,859 | -€22,054 | -20.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €156,617 | €156,617 | = | 0.0% |
| Distributable reserves | 133 | €156,617 | €156,617 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€55,904 | -€77,958 | -€22,054 | -39.4% |
| Amounts payable | 17/49 | €136,418 | €106,312 | -€30,106 | -22.1% |
| Amounts payable after more than one year | 17 | €73,041 | €61,097 | -€11,944 | -16.4% |
| Financial debts | 170/4 | €73,041 | €61,097 | -€11,944 | -16.4% |
| Amounts payable within one year | 42/48 | €63,374 | €45,215 | -€18,159 | -28.7% |
| Current portion of amounts payable after more than one year | 42 | €31,924 | €23,911 | -€8,012 | -25.1% |
| Financial debts | 43 | - | €15,018 | +€15,018 | |
| Credit institutions | 430/8 | - | €15,018 | +€15,018 | |
| Trade debts | 44 | €387 | €2,402 | +€2,014 | +520% |
| Suppliers | 440/4 | €387 | €2,402 | +€2,014 | +520% |
| Taxes, remuneration and social security | 45 | €29,690 | €2,435 | -€27,256 | -91.8% |
| Taxes | 450/3 | €29,690 | €2,435 | -€27,256 | -91.8% |
| Other amounts payable | 47/48 | €1,372 | €1,450 | +€77 | +5.6% |
| Accrued charges and deferred income | 492/3 | €4 | - | -€4 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,197 | €14,728 | -€469 | -3.1% |
| Other operating charges | 640/8 | €1,053 | €791 | -€262 | -24.9% |
| Non-recurring operating charges | 66A | €1,318 | - | -€1,318 | |
| Gross operating margin | 9900 | -€9,143 | -€3,814 | +€5,328 | +58.3% |
| Operating profit (loss) | 9901 | -€26,711 | -€19,333 | +€7,377 | +27.6% |
| Financial income | 75/76B | €9,844 | €5 | -€9,838 | -99.9% |
| Recurring financial income | 75 | €9,844 | €5 | -€9,838 | -99.9% |
| Financial charges | 65/66B | €10,647 | €2,726 | -€7,921 | -74.4% |
| Recurring financial charges | 65 | €4,253 | €2,726 | -€1,527 | -35.9% |
| Non-recurring financial charges | 66B | €6,395 | - | -€6,395 | |
| Profit (loss) for the period before taxes | 9903 | -€27,514 | -€22,054 | +€5,460 | +19.8% |
| Income taxes | 67/77 | €135 | - | -€135 | |
| Profit (loss) for the period | 9904 | -€27,649 | -€22,054 | +€5,595 | +20.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,649 | -€22,054 | +€5,595 | +20.2% |
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 22 October 2026 via checked.be.