VERBRAAK: 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.
VERBRAAK
Largest movements
- Tangible fixed assets -€405,204
down €405,204 (-25.9%), from €1.6m to €1.2m
of which Assets under construction and advance payments: -€332,684
- Cash +€384,378
up €384,378 (+1,054%), from €36,476 to €420,854
mainly Investment in fixed assets (net) (+€362,825) and Net result for the year (+€175,047)
- Receivables within one year +€22,202
up €22,202 (+118%), from €18,795 to €40,996
of which Trade receivables: +€19,127
- Tax, wage and social debts -€128,493
down €128,493 (-72.6%), from €177,070 to €48,578
- Reserves +€100,047
up €100,047 (+12.3%), from €815,839 to €915,886
of which Distributable reserves: +€100,047
- Debts after one year -€67,200
down €67,200 (-12.7%), from €528,000 to €460,800
- Other debts +€44,502
up €44,502 (+142%), from €31,395 to €75,897
- Advances received +€33,072
up €33,072 (+1,443%), from €2,292 to €35,364
- Gross operating margin -€332,624
down €332,624 (-55.2%), from €602,594 to €269,970
- Depreciation -€94,120
down €94,120 (-69.0%), from €136,499 to €42,379
- Taxes -€86,723
down €86,723 (-74.0%), from €117,202 to €30,479
- Financial charges +€14,040
up €14,040 (+269%), from €5,217 to €19,257
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,623,421 | €1,625,661 | +€2,240 | +0.1% |
| Fixed assets | 21/28 | €1,568,135 | €1,162,932 | -€405,204 | -25.8% |
| Tangible fixed assets | 22/27 | €1,567,391 | €1,162,188 | -€405,204 | -25.9% |
| Land and buildings | 22 | €1,183,615 | €1,124,947 | -€58,667 | -5.0% |
| Plant, machinery and equipment | 23 | €874 | €325 | -€549 | -62.8% |
| Furniture and vehicles | 24 | €50,219 | €36,915 | -€13,304 | -26.5% |
| Assets under construction and advance payments | 27 | €332,684 | - | -€332,684 | |
| Financial fixed assets | 28 | €744 | €744 | = | 0.0% |
| Current assets | 29/58 | €55,286 | €462,729 | +€407,443 | +737% |
| Amounts receivable within one year | 40/41 | €18,795 | €40,996 | +€22,202 | +118% |
| Trade receivables | 40 | €1,158 | €20,285 | +€19,127 | +1,651% |
| Other amounts receivable | 41 | €17,636 | €20,711 | +€3,075 | +17.4% |
| Cash at bank and in hand | 54/58 | €36,476 | €420,854 | +€384,378 | +1,054% |
| Deferred charges and accrued income | 490/1 | €15 | €879 | +€864 | +5,594% |
| Total equity and liabilities | 10/49 | €1,623,421 | €1,625,661 | +€2,240 | +0.1% |
| Equity | 10/15 | €834,439 | €934,486 | +€100,047 | +12.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €815,839 | €915,886 | +€100,047 | +12.3% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €797,089 | €897,136 | +€100,047 | +12.6% |
| Amounts payable | 17/49 | €788,982 | €691,175 | -€97,808 | -12.4% |
| Amounts payable after more than one year | 17 | €528,000 | €460,800 | -€67,200 | -12.7% |
| Financial debts | 170/4 | €528,000 | €460,800 | -€67,200 | -12.7% |
| Amounts payable within one year | 42/48 | €259,905 | €229,964 | -€29,941 | -11.5% |
| Current portion of amounts payable after more than one year | 42 | €48,000 | €57,600 | +€9,600 | +20.0% |
| Trade debts | 44 | €1,147 | €12,525 | +€11,378 | +992% |
| Suppliers | 440/4 | €1,147 | €12,525 | +€11,378 | +992% |
| Advances received on contracts in progress | 46 | €2,292 | €35,364 | +€33,072 | +1,443% |
| Taxes, remuneration and social security | 45 | €177,070 | €48,578 | -€128,493 | -72.6% |
| Taxes | 450/3 | €177,070 | €48,578 | -€128,493 | -72.6% |
| Other amounts payable | 47/48 | €31,395 | €75,897 | +€44,502 | +142% |
| Accrued charges and deferred income | 492/3 | €1,077 | €410 | -€667 | -61.9% |
| Non-recurring operating income | 76A | - | €80,657 | +€80,657 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €136,499 | €42,379 | -€94,120 | -69.0% |
| Other operating charges | 640/8 | €4,417 | €2,809 | -€1,608 | -36.4% |
| Gross operating margin | 9900 | €602,594 | €269,970 | -€332,624 | -55.2% |
| Operating profit (loss) | 9901 | €461,678 | €224,783 | -€236,895 | -51.3% |
| Financial income | 75/76B | €1,342 | - | -€1,342 | |
| Recurring financial income | 75 | €1,342 | - | -€1,342 | |
| Financial charges | 65/66B | €5,217 | €19,257 | +€14,040 | +269% |
| Recurring financial charges | 65 | €5,217 | €19,257 | +€14,040 | +269% |
| Profit (loss) for the period before taxes | 9903 | €457,804 | €205,526 | -€252,278 | -55.1% |
| Income taxes | 67/77 | €117,202 | €30,479 | -€86,723 | -74.0% |
| Profit (loss) for the period | 9904 | €340,602 | €175,047 | -€165,555 | -48.6% |
| Profit (loss) for the period to be appropriated | 9905 | €340,602 | €175,047 | -€165,555 | -48.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.