Verbeken Holding: 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
Verbeken Holding
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€272,008
2024 · €1.8m-€1.5m
Equity
€18.7m
2024 · €18.4m+€272,008
Cash
€735,934
2024 · €1.1m-€357,705
Balance sheet total
€23.8m
2024 · €23.7m+€106,128
Largest movements
Assets
- Receivables within one year +€1.2m
up €1.2m (+13.1%), from €9.4m to €10.6m
of which Other amounts receivable: +€1.2m
- Current investments -€746,262
down €746,262 (-19.9%), from €3.8m to €3.0m
- Cash -€357,705
down €357,705 (-32.7%), from €1.1m to €735,934
mainly Receivables within one year (-€1.2m) and Short-term financial debts (-€150,000)
Equity and liabilities
- Reserves +€272,008
up €272,008 (+2.1%), from €13.3m to €13.5m
of which Distributable reserves: +€272,008
Income statement
- Financial income -€1.5m
down €1.5m (-80.7%), from €1.9m to €366,930
- Financial charges -€76,601
down €76,601 (-25.8%), from €296,841 to €220,240
- Services and other goods +€55,765
up €55,765 (+6.6%), from €841,885 to €897,650
- Staff costs +€48,434
up €48,434 (+5.4%), from €904,818 to €953,252
- Write-downs -€47,126
down €47,126, from €46,682 to -€444
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
€1.8m
Turnover
+€400
Other operating income
-€6,807
Services and other goods
-€55,765
Staff costs
-€48,434
Depreciation
+€1,527
Write-downs
+€47,126
Other operating charges
+€1,222
Financial income
-€1.5m
Financial charges
+€76,601
Taxes
+€17,045
Result 2025
€272,008
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
-€953,967
Investment
+€746,262
Financing
-€150,000
Cash 2024
€1.1m
From operations (derived)
-€953,967
Net result for the year
+€272,008
Depreciation
+€9,826
Receivables within one year
-€1.2m
Deferred charges and accrued income
+€3,003
Trade debts
-€40,694
Tax, wage and social debts
+€40,025
Other debts
+€50,823
Accrued charges and deferred income
-€66,035
Investment (derived)
+€746,262
Current investments
+€746,262
Financing
-€150,000
Short-term financial debts
-€150,000
Cash 2025
€735,934
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,701,632 | €23,807,759 | +€106,128 | +0.4% |
| Fixed assets | 21/28 | €9,192,603 | €9,182,776 | -€9,826 | -0.1% |
| Tangible fixed assets | 22/27 | €27,484 | €17,658 | -€9,826 | -35.8% |
| Furniture and vehicles | 24 | €27,484 | €17,658 | -€9,826 | -35.8% |
| Financial fixed assets | 28 | €9,165,118 | €9,165,118 | = | 0.0% |
| Affiliated companies | 280/1 | €9,165,118 | €9,165,118 | = | 0.0% |
| Participating interests | 280 | €9,165,118 | €9,165,118 | = | 0.0% |
| Other financial fixed assets | 284/8 | €0 | - | = | |
| Amounts receivable and cash guarantees | 285/8 | €0 | - | = | |
| Current assets | 29/58 | €14,509,029 | €14,624,983 | +€115,954 | +0.8% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €9,351,074 | €10,573,998 | +€1.2m | +13.1% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €9,351,074 | €10,573,998 | +€1.2m | +13.1% |
| Current investments | 50/53 | €3,750,000 | €3,003,738 | -€746,262 | -19.9% |
| Other investments | 51/53 | €3,750,000 | €3,003,738 | -€746,262 | -19.9% |
| Cash at bank and in hand | 54/58 | €1,093,639 | €735,934 | -€357,705 | -32.7% |
| Deferred charges and accrued income | 490/1 | €314,315 | €311,312 | -€3,003 | -1.0% |
| Total equity and liabilities | 10/49 | €23,701,632 | €23,807,759 | +€106,128 | +0.4% |
| Equity | 10/15 | €18,422,380 | €18,694,388 | +€272,008 | +1.5% |
| Contributions | 10/11 | €5,153,735 | €5,153,735 | = | 0.0% |
| Reserves | 13 | €13,268,645 | €13,540,653 | +€272,008 | +2.1% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €13,268,645 | €13,540,653 | +€272,008 | +2.1% |
| Amounts payable | 17/49 | €5,279,252 | €5,113,371 | -€165,881 | -3.1% |
| Amounts payable within one year | 42/48 | €5,009,032 | €4,909,186 | -€99,846 | -2.0% |
| Financial debts | 43 | €600,000 | €450,000 | -€150,000 | -25.0% |
| Credit institutions | 430/8 | €600,000 | €450,000 | -€150,000 | -25.0% |
| Trade debts | 44 | €82,622 | €41,928 | -€40,694 | -49.3% |
| Suppliers | 440/4 | €82,622 | €41,928 | -€40,694 | -49.3% |
| Taxes, remuneration and social security | 45 | €113,418 | €153,443 | +€40,025 | +35.3% |
| Taxes | 450/3 | €24,233 | €38,947 | +€14,714 | +60.7% |
| Remuneration and social security | 454/9 | €89,185 | €114,496 | +€25,311 | +28.4% |
| Other amounts payable | 47/48 | €4,212,992 | €4,263,815 | +€50,823 | +1.2% |
| Accrued charges and deferred income | 492/3 | €270,220 | €204,185 | -€66,035 | -24.4% |
| Operating income | 70/76A | €2,090,788 | €2,084,381 | -€6,407 | -0.3% |
| Turnover | 70 | €2,063,600 | €2,064,000 | +€400 | 0.0% |
| Other operating income | 74 | €27,188 | €20,381 | -€6,807 | -25.0% |
| Operating charges | 60/66A | €1,808,561 | €1,862,885 | +€54,324 | +3.0% |
| Services and other goods | 61 | €841,885 | €897,650 | +€55,765 | +6.6% |
| Remuneration, social security and pensions | 62 | €904,818 | €953,252 | +€48,434 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,354 | €9,826 | -€1,527 | -13.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €46,682 | -€444 | -€47,126 | |
| Other operating charges | 640/8 | €3,823 | €2,601 | -€1,222 | -32.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Operating profit (loss) | 9901 | €282,227 | €221,496 | -€60,731 | -21.5% |
| Financial income | 75/76B | €1,898,354 | €366,930 | -€1.5m | -80.7% |
| Recurring financial income | 75 | €1,898,354 | €366,930 | -€1.5m | -80.7% |
| Income from financial fixed assets | 750 | €1,500,000 | €0 | -€1.5m | -100% |
| Income from current assets | 751 | €398,195 | €366,224 | -€31,972 | -8.0% |
| Other financial income | 752/9 | €159 | €706 | +€547 | +344% |
| Financial charges | 65/66B | €296,841 | €220,240 | -€76,601 | -25.8% |
| Recurring financial charges | 65 | €296,841 | €220,240 | -€76,601 | -25.8% |
| Debt charges | 650 | €295,000 | €219,065 | -€75,935 | -25.7% |
| Other financial charges | 652/9 | €1,841 | €1,175 | -€666 | -36.2% |
| Profit (loss) for the period before taxes | 9903 | €1,883,740 | €368,186 | -€1.5m | -80.5% |
| Income taxes | 67/77 | €113,222 | €96,178 | -€17,045 | -15.1% |
| Taxes | 670/3 | €114,486 | €96,430 | -€18,057 | -15.8% |
| Tax adjustments and reversals of tax provisions | 77 | €1,264 | €252 | -€1,012 | -80.1% |
| Profit (loss) for the period | 9904 | €1,770,518 | €272,008 | -€1.5m | -84.6% |
| Transfer from tax-exempt reserves | 789 | €421,000 | €0 | -€421,000 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €2,191,518 | €272,008 | -€1.9m | -87.6% |
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 29 October 2026 via checked.be.