VERBIST TOOLS: 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.
VERBIST TOOLS
Largest movements
- Tangible fixed assets +€521,994
up €521,994 (+25.8%), from €2.0m to €2.5m
of which Land and buildings: +€963,359
- Receivables within one year +€92,113
up €92,113 (+64.5%), from €142,921 to €235,034
of which Trade receivables: +€65,765
- Cash +€61,381
up €61,381 (+93.0%), from €65,987 to €127,368
mainly Debts after one year (+€424,349) and Net result for the year (+€116,243)
- Debts after one year +€424,349
up €424,349 (+47.3%), from €897,242 to €1.3m
of which Financial debts: +€426,336
- Reserves +€75,649
up €75,649 (+11.8%), from €641,464 to €717,113
of which Tax-exempt reserves: +€75,649
- Trade debts +€49,082
up €49,082 (+303.0%), from €16,199 to €65,281
- Profit (loss) carried forward +€40,594
up €40,594, from -€10,670 to €29,924
- Tax, wage and social debts +€38,189
up €38,189 (+384.2%), from €9,941 to €48,130
of which Taxes: +€37,550
- Gross operating margin +€225,754
up €225,754 (+80.4%), from €280,794 to €506,548
- Taxes +€23,925
up €23,925 (+92.9%), from €25,742 to €49,667
- Financial charges +€17,172
up €17,172 (+25.1%), from €68,546 to €85,718
- Depreciation +€12,036
up €12,036 (+14.9%), from €80,643 to €92,679
- Write-downs +€11,369
no longer reported in 2025 (was -€11,369)
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 | €2,250,531 | €2,919,653 | +€669,121 | +29.7% |
| Fixed assets | 21/28 | €2,019,390 | €2,541,384 | +€521,994 | +25.8% |
| Tangible fixed assets | 22/27 | €2,019,390 | €2,541,384 | +€521,994 | +25.8% |
| Land and buildings | 22 | €1,568,135 | €2,531,494 | +€963,359 | +61.4% |
| Plant, machinery and equipment | 23 | €1,447 | €916 | -€531 | -36.7% |
| Furniture and vehicles | 24 | €25,960 | €8,974 | -€16,986 | -65.4% |
| Assets under construction and advance payments | 27 | €423,848 | - | -€423,848 | |
| Current assets | 29/58 | €231,141 | €378,268 | +€147,127 | +63.7% |
| Stocks and contracts in progress | 3 | €10,336 | €5,302 | -€5,034 | -48.7% |
| Stocks | 30/36 | €10,336 | €5,302 | -€5,034 | -48.7% |
| Amounts receivable within one year | 40/41 | €142,921 | €235,034 | +€92,113 | +64.5% |
| Trade receivables | 40 | €92,950 | €158,715 | +€65,765 | +70.8% |
| Other amounts receivable | 41 | €49,971 | €76,319 | +€26,348 | +52.7% |
| Cash at bank and in hand | 54/58 | €65,987 | €127,368 | +€61,381 | +93.0% |
| Deferred charges and accrued income | 490/1 | €11,898 | €10,564 | -€1,334 | -11.2% |
| Total equity and liabilities | 10/49 | €2,250,531 | €2,919,653 | +€669,121 | +29.7% |
| Equity | 10/15 | €651,794 | €768,037 | +€116,243 | +17.8% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €641,464 | €717,113 | +€75,649 | +11.8% |
| Tax-exempt reserves | 132 | €381,361 | €457,011 | +€75,649 | +19.8% |
| Distributable reserves | 133 | €260,103 | €260,103 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,670 | €29,924 | +€40,594 | |
| Provisions and deferred taxes | 16 | €127,120 | €152,337 | +€25,216 | +19.8% |
| Deferred taxes | 168 | €127,120 | €152,337 | +€25,216 | +19.8% |
| Amounts payable | 17/49 | €1,471,617 | €1,999,279 | +€527,661 | +35.9% |
| Amounts payable after more than one year | 17 | €897,242 | €1,321,591 | +€424,349 | +47.3% |
| Financial debts | 170/4 | €895,255 | €1,321,591 | +€426,336 | +47.6% |
| Other amounts payable | 178/9 | €1,987 | - | -€1,987 | |
| Amounts payable within one year | 42/48 | €571,498 | €651,240 | +€79,742 | +14.0% |
| Current portion of amounts payable after more than one year | 42 | €45,358 | €37,830 | -€7,529 | -16.6% |
| Trade debts | 44 | €16,199 | €65,281 | +€49,082 | +303.0% |
| Suppliers | 440/4 | €16,199 | €65,281 | +€49,082 | +303.0% |
| Taxes, remuneration and social security | 45 | €9,941 | €48,130 | +€38,189 | +384.2% |
| Taxes | 450/3 | €1,042 | €38,592 | +€37,550 | +3602.9% |
| Remuneration and social security | 454/9 | €8,899 | €9,538 | +€639 | +7.2% |
| Other amounts payable | 47/48 | €500,000 | €500,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,877 | €26,448 | +€23,570 | +819.2% |
| Non-recurring operating income | 76A | - | €130,612 | +€130,612 | |
| Remuneration, social security and pensions | 62 | €104,781 | €111,023 | +€6,242 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,643 | €92,679 | +€12,036 | +14.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€11,369 | - | +€11,369 | |
| Other operating charges | 640/8 | €25,952 | €27,593 | +€1,641 | +6.3% |
| Non-recurring operating charges | 66A | €414 | €2,621 | +€2,207 | +532.6% |
| Gross operating margin | 9900 | €280,794 | €506,548 | +€225,754 | +80.4% |
| Operating profit (loss) | 9901 | €80,373 | €272,633 | +€192,259 | +239.2% |
| Financial income | 75/76B | €2,055 | €4,212 | +€2,157 | +105.0% |
| Recurring financial income | 75 | €2,055 | €4,212 | +€2,157 | +105.0% |
| Financial charges | 65/66B | €68,546 | €85,718 | +€17,172 | +25.1% |
| Recurring financial charges | 65 | €68,546 | €85,718 | +€17,172 | +25.1% |
| Profit (loss) for the period before taxes | 9903 | €13,883 | €191,127 | +€177,244 | +1276.7% |
| Transfer from deferred taxes | 780 | €5,559 | €6,121 | +€563 | +10.1% |
| Transfer to deferred taxes | 680 | - | €31,338 | +€31,338 | |
| Income taxes | 67/77 | €25,742 | €49,667 | +€23,925 | +92.9% |
| Profit (loss) for the period | 9904 | -€6,301 | €116,243 | +€122,544 | |
| Transfer from tax-exempt reserves | 789 | €28,886 | €18,364 | -€10,522 | -36.4% |
| Transfer to tax-exempt reserves | 689 | - | €94,013 | +€94,013 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,585 | €40,594 | +€18,010 | +79.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.