Verbiest Construct: 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.
Verbiest Construct
Largest movements
- Cash +€46,635
up €46,635 (+82.9%), from €56,234 to €102,869
mainly Other debts (+€58,171) and Net result for the year (+€46,349)
- Tangible fixed assets +€20,948
up €20,948 (+34.5%), from €60,708 to €81,656
of which Furniture and vehicles: +€22,875
- Receivables within one year +€15,048
up €15,048 (+71.9%), from €20,923 to €35,971
of which Trade receivables: +€11,508
- Deferred charges and accrued income +€9,170
up €9,170 (+450.9%), from €2,033 to €11,203
- Intangible fixed assets -€5,000
down €5,000 (-33.4%), from €14,973 to €9,973
- Other debts +€58,171
up €58,171 (+1002.5%), from €5,803 to €63,974
- Profit (loss) carried forward -€49,911
no longer reported in 2025 (was €49,911)
- Trade debts +€36,792
up €36,792 (+117.0%), from €31,448 to €68,240
- Reserves +€34,260
new in 2025: €34,260
- Tax, wage and social debts +€15,065
up €15,065 (+66.5%), from €22,671 to €37,737
of which Taxes: +€15,297
- Gross operating margin +€34,159
up €34,159 (+24.4%), from €139,795 to €173,954
- Staff costs +€17,355
up €17,355 (+31.4%), from €55,282 to €72,637
- Taxes +€6,555
up €6,555 (+51.9%), from €12,630 to €19,185
- Depreciation +€5,378
up €5,378 (+20.5%), from €26,223 to €31,601
- Other operating charges +€1,983
up €1,983 (+136.0%), from €1,459 to €3,442
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 | €155,871 | €242,672 | +€86,801 | +55.7% |
| Fixed assets | 21/28 | €76,680 | €92,628 | +€15,948 | +20.8% |
| Intangible fixed assets | 21 | €14,973 | €9,973 | -€5,000 | -33.4% |
| Tangible fixed assets | 22/27 | €60,708 | €81,656 | +€20,948 | +34.5% |
| Plant, machinery and equipment | 23 | €17,373 | €15,445 | -€1,928 | -11.1% |
| Furniture and vehicles | 24 | €43,335 | €66,210 | +€22,875 | +52.8% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €79,190 | €150,043 | +€70,853 | +89.5% |
| Amounts receivable within one year | 40/41 | €20,923 | €35,971 | +€15,048 | +71.9% |
| Trade receivables | 40 | €13,541 | €25,049 | +€11,508 | +85.0% |
| Other amounts receivable | 41 | €7,382 | €10,922 | +€3,540 | +48.0% |
| Cash at bank and in hand | 54/58 | €56,234 | €102,869 | +€46,635 | +82.9% |
| Deferred charges and accrued income | 490/1 | €2,033 | €11,203 | +€9,170 | +450.9% |
| Total equity and liabilities | 10/49 | €155,871 | €242,672 | +€86,801 | +55.7% |
| Equity | 10/15 | €59,911 | €44,260 | -€15,651 | -26.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €34,260 | +€34,260 | |
| Distributable reserves | 133 | - | €34,260 | +€34,260 | |
| Profit (loss) carried forward | 14 | €49,911 | - | -€49,911 | |
| Amounts payable | 17/49 | €95,959 | €198,412 | +€102,452 | +106.8% |
| Amounts payable after more than one year | 17 | €15,364 | €18,386 | +€3,022 | +19.7% |
| Financial debts | 170/4 | €15,364 | €18,386 | +€3,022 | +19.7% |
| Amounts payable within one year | 42/48 | €80,595 | €180,026 | +€99,431 | +123.4% |
| Current portion of amounts payable after more than one year | 42 | €8,033 | €10,075 | +€2,043 | +25.4% |
| Trade debts | 44 | €31,448 | €68,240 | +€36,792 | +117.0% |
| Suppliers | 440/4 | €31,448 | €68,240 | +€36,792 | +117.0% |
| Advances received on contracts in progress | 46 | €12,640 | - | -€12,640 | |
| Taxes, remuneration and social security | 45 | €22,671 | €37,737 | +€15,065 | +66.5% |
| Taxes | 450/3 | €17,841 | €33,139 | +€15,297 | +85.7% |
| Remuneration and social security | 454/9 | €4,830 | €4,598 | -€232 | -4.8% |
| Other amounts payable | 47/48 | €5,803 | €63,974 | +€58,171 | +1002.5% |
| Remuneration, social security and pensions | 62 | €55,282 | €72,637 | +€17,355 | +31.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,223 | €31,601 | +€5,378 | +20.5% |
| Other operating charges | 640/8 | €1,459 | €3,442 | +€1,983 | +136.0% |
| Gross operating margin | 9900 | €139,795 | €173,954 | +€34,159 | +24.4% |
| Operating profit (loss) | 9901 | €56,832 | €66,275 | +€9,443 | +16.6% |
| Financial income | 75/76B | €832 | €604 | -€228 | -27.4% |
| Recurring financial income | 75 | €832 | €604 | -€228 | -27.4% |
| Financial charges | 65/66B | €1,372 | €1,345 | -€28 | -2.0% |
| Recurring financial charges | 65 | €1,372 | €1,345 | -€28 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €56,291 | €65,534 | +€9,242 | +16.4% |
| Income taxes | 67/77 | €12,630 | €19,185 | +€6,555 | +51.9% |
| Profit (loss) for the period | 9904 | €43,661 | €46,349 | +€2,687 | +6.2% |
| Profit (loss) for the period to be appropriated | 9905 | €43,661 | €46,349 | +€2,687 | +6.2% |
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 28 September 2026 via checked.be.