VERBIEST: 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.
VERBIEST
Largest movements
- Cash -€319,394
down €319,394 (-68.7%), from €464,966 to €145,571
mainly Contributions, distributions and other (-€415,118) and Receivables after one year (-€125,000)
- Receivables after one year +€125,000
new in 2025: €125,000
- Tangible fixed assets -€31,817
down €31,817 (-53.1%), from €59,870 to €28,053
of which Furniture and vehicles: -€20,090
- Deferred charges and accrued income +€19,291
up €19,291 (+350.7%), from €5,501 to €24,791
- Receivables within one year -€16,305
down €16,305 (-17.9%), from €91,042 to €74,737
of which Other amounts receivable: -€8,283
- Contributions -€268,600
no longer reported in 2025 (was €268,600)
- Reserves -€35,812
down €35,812 (-16.7%), from €214,586 to €178,773
of which Distributable reserves: -€33,953
- Trade debts +€35,618
up €35,618 (+156.7%), from €22,726 to €58,344
- Other debts +€28,177
up €28,177 (+28.9%), from €97,412 to €125,589
- Tax, wage and social debts +€12,018
up €12,018 (+24.3%), from €49,487 to €61,505
of which Remuneration and social security: +€6,312
- Gross operating margin +€113,255
up €113,255 (+43.9%), from €257,774 to €371,030
- Staff costs +€69,774
up €69,774 (+49.8%), from €140,200 to €209,974
- Taxes -€16,893
down €16,893 (-74.1%), from €22,802 to €5,909
- Financial income -€15,335
down €15,335 (-92.1%), from €16,646 to €1,311
- Depreciation -€12,179
down €12,179 (-26.9%), from €45,348 to €33,168
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 | €653,098 | €428,653 | -€224,445 | -34.4% |
| Fixed assets | 21/28 | €60,120 | €28,303 | -€31,817 | -52.9% |
| Tangible fixed assets | 22/27 | €59,870 | €28,053 | -€31,817 | -53.1% |
| Plant, machinery and equipment | 23 | €14,913 | €5,370 | -€9,542 | -64.0% |
| Furniture and vehicles | 24 | €35,993 | €15,903 | -€20,090 | -55.8% |
| Other tangible fixed assets | 26 | €8,964 | €6,779 | -€2,185 | -24.4% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €592,978 | €400,351 | -€192,627 | -32.5% |
| Amounts receivable after more than one year | 29 | - | €125,000 | +€125,000 | |
| Other amounts receivable | 291 | - | €125,000 | +€125,000 | |
| Stocks and contracts in progress | 3 | €31,470 | €30,251 | -€1,219 | -3.9% |
| Stocks | 30/36 | €31,470 | €30,251 | -€1,219 | -3.9% |
| Amounts receivable within one year | 40/41 | €91,042 | €74,737 | -€16,305 | -17.9% |
| Trade receivables | 40 | €50,295 | €42,274 | -€8,021 | -15.9% |
| Other amounts receivable | 41 | €40,747 | €32,464 | -€8,283 | -20.3% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €464,966 | €145,571 | -€319,394 | -68.7% |
| Deferred charges and accrued income | 490/1 | €5,501 | €24,791 | +€19,291 | +350.7% |
| Total equity and liabilities | 10/49 | €653,098 | €428,653 | -€224,445 | -34.4% |
| Equity | 10/15 | €483,186 | €178,773 | -€304,412 | -63.0% |
| Contributions | 10/11 | €268,600 | - | -€268,600 | |
| Reserves | 13 | €214,586 | €178,773 | -€35,812 | -16.7% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Tax-exempt reserves | 132 | €7,000 | €7,000 | = | 0.0% |
| Distributable reserves | 133 | €205,726 | €171,773 | -€33,953 | -16.5% |
| Amounts payable | 17/49 | €169,912 | €249,880 | +€79,968 | +47.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €169,624 | €245,437 | +€75,813 | +44.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €22,726 | €58,344 | +€35,618 | +156.7% |
| Suppliers | 440/4 | €22,726 | €58,344 | +€35,618 | +156.7% |
| Taxes, remuneration and social security | 45 | €49,487 | €61,505 | +€12,018 | +24.3% |
| Taxes | 450/3 | €20,322 | €26,027 | +€5,706 | +28.1% |
| Remuneration and social security | 454/9 | €29,165 | €35,477 | +€6,312 | +21.6% |
| Other amounts payable | 47/48 | €97,412 | €125,589 | +€28,177 | +28.9% |
| Accrued charges and deferred income | 492/3 | €288 | €4,443 | +€4,155 | +1440.9% |
| Remuneration, social security and pensions | 62 | €140,200 | €209,974 | +€69,774 | +49.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,348 | €33,168 | -€12,179 | -26.9% |
| Other operating charges | 640/8 | €2,205 | €11,134 | +€8,928 | +404.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €257,774 | €371,030 | +€113,255 | +43.9% |
| Operating profit (loss) | 9901 | €70,022 | €116,754 | +€46,733 | +66.7% |
| Financial income | 75/76B | €16,646 | €1,311 | -€15,335 | -92.1% |
| Recurring financial income | 75 | €16,646 | €1,311 | -€15,335 | -92.1% |
| Financial charges | 65/66B | €890 | €1,450 | +€560 | +62.8% |
| Recurring financial charges | 65 | €890 | €1,450 | +€560 | +62.8% |
| Profit (loss) for the period before taxes | 9903 | €85,777 | €116,615 | +€30,838 | +36.0% |
| Income taxes | 67/77 | €22,802 | €5,909 | -€16,893 | -74.1% |
| Profit (loss) for the period | 9904 | €62,975 | €110,706 | +€47,731 | +75.8% |
| Profit (loss) for the period to be appropriated | 9905 | €62,975 | €110,706 | +€47,731 | +75.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.