VERBEKEN: what changed
Two fiscal 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.
VERBEKEN
Largest movements
- Current investments -€371,576
down €371,576 (-84.1%), from €442,012 to €70,436
- Stocks and contracts -€180,017
down €180,017 (-19.6%), from €917,668 to €737,650
- Receivables within one year -€99,157
down €99,157 (-10.9%), from €909,419 to €810,263
of which Trade receivables: -€93,490
- Cash +€44,074
up €44,074 (+16.4%), from €269,073 to €313,148
mainly Current investments (+€371,576) and Stocks and contracts (+€180,017)
- Other debts -€404,357
down €404,357 (-24.6%), from €1.6m to €1.2m
- Trade debts -€195,154
down €195,154 (-43.3%), from €450,390 to €255,235
- Accrued charges and deferred income -€73,156
down €73,156 (-23.2%), from €316,004 to €242,848
- Tax, wage and social debts +€30,909
up €30,909 (+238.0%), from €12,988 to €43,897
of which Taxes: +€28,290
- Financial income -€7,604
down €7,604 (-50.1%), from €15,162 to €7,558
- Gross operating margin -€7,442
down €7,442 (-2.6%), from €283,686 to €276,245
- Staff costs +€4,572
up €4,572 (+7.9%), from €57,889 to €62,462
- Depreciation -€3,700
down €3,700 (-26.5%), from €13,949 to €10,249
- Financial charges +€3,472
up €3,472 (+16.8%), from €20,648 to €24,120
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.
Cash bridge derived
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 | €2,609,063 | €1,980,882 | -€628,181 | -24.1% |
| Fixed assets | 21/28 | €36,524 | €36,549 | +€25 | +0.1% |
| Intangible fixed assets | 21 | €20,532 | €15,340 | -€5,192 | -25.3% |
| Tangible fixed assets | 22/27 | €15,868 | €21,085 | +€5,217 | +32.9% |
| Plant, machinery and equipment | 23 | €14,511 | €18,193 | +€3,682 | +25.4% |
| Furniture and vehicles | 24 | €1,357 | €2,891 | +€1,535 | +113.1% |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €2,572,539 | €1,944,333 | -€628,206 | -24.4% |
| Stocks and contracts in progress | 3 | €917,668 | €737,650 | -€180,017 | -19.6% |
| Stocks | 30/36 | €917,668 | €737,650 | -€180,017 | -19.6% |
| Amounts receivable within one year | 40/41 | €909,419 | €810,263 | -€99,157 | -10.9% |
| Trade receivables | 40 | €902,066 | €808,576 | -€93,490 | -10.4% |
| Other amounts receivable | 41 | €7,353 | €1,687 | -€5,666 | -77.1% |
| Current investments | 50/53 | €442,012 | €70,436 | -€371,576 | -84.1% |
| Cash at bank and in hand | 54/58 | €269,073 | €313,148 | +€44,074 | +16.4% |
| Deferred charges and accrued income | 490/1 | €34,367 | €12,837 | -€21,530 | -62.6% |
| Total equity and liabilities | 10/49 | €2,609,063 | €1,980,882 | -€628,181 | -24.1% |
| Equity | 10/15 | €185,599 | €199,388 | +€13,789 | +7.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €124,099 | €137,888 | +€13,789 | +11.1% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €53,021 | €53,021 | = | 0.0% |
| Distributable reserves | 133 | €64,928 | €78,717 | +€13,789 | +21.2% |
| Amounts payable | 17/49 | €2,423,464 | €1,781,494 | -€641,970 | -26.5% |
| Amounts payable within one year | 42/48 | €2,107,460 | €1,538,646 | -€568,814 | -27.0% |
| Financial debts | 43 | €211 | - | -€211 | |
| Credit institutions | 430/8 | €211 | - | -€211 | |
| Trade debts | 44 | €450,390 | €255,235 | -€195,154 | -43.3% |
| Suppliers | 440/4 | €450,390 | €255,235 | -€195,154 | -43.3% |
| Taxes, remuneration and social security | 45 | €12,988 | €43,897 | +€30,909 | +238.0% |
| Taxes | 450/3 | €8,961 | €37,251 | +€28,290 | +315.7% |
| Remuneration and social security | 454/9 | €4,027 | €6,646 | +€2,619 | +65.0% |
| Other amounts payable | 47/48 | €1,643,871 | €1,239,513 | -€404,357 | -24.6% |
| Accrued charges and deferred income | 492/3 | €316,004 | €242,848 | -€73,156 | -23.2% |
| Remuneration, social security and pensions | 62 | €57,889 | €62,462 | +€4,572 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,949 | €10,249 | -€3,700 | -26.5% |
| Other operating charges | 640/8 | €1,843 | €2,271 | +€429 | +23.3% |
| Gross operating margin | 9900 | €283,686 | €276,245 | -€7,442 | -2.6% |
| Operating profit (loss) | 9901 | €210,006 | €201,263 | -€8,743 | -4.2% |
| Financial income | 75/76B | €15,162 | €7,558 | -€7,604 | -50.1% |
| Recurring financial income | 75 | €15,162 | €7,558 | -€7,604 | -50.1% |
| Financial charges | 65/66B | €20,648 | €24,120 | +€3,472 | +16.8% |
| Recurring financial charges | 65 | €20,648 | €24,120 | +€3,472 | +16.8% |
| Profit (loss) for the period before taxes | 9903 | €204,519 | €184,701 | -€19,818 | -9.7% |
| Income taxes | 67/77 | €49,781 | €46,810 | -€2,971 | -6.0% |
| Profit (loss) for the period | 9904 | €154,739 | €137,891 | -€16,848 | -10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €154,739 | €137,891 | -€16,848 | -10.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.