VERBRUGGHE: 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.
VERBRUGGHE
Largest movements
- Receivables within one year +€467,985
up €467,985 (+490%), from €95,442 to €563,427
of which Trade receivables: +€468,015
- Cash -€200,195
down €200,195 (-44.5%), from €450,035 to €249,839
mainly Receivables within one year (-€467,985) and Other debts (-€181,578)
- Deferred charges and accrued income +€147,699
up €147,699 (+7,328%), from €2,016 to €149,714
- Stocks and contracts +€109,141
up €109,141 (+33.6%), from €325,285 to €434,426
- Trade debts +€538,669
up €538,669 (+345%), from €156,057 to €694,726
- Other debts -€181,578
down €181,578 (-83.3%), from €218,092 to €36,515
- Reserves +€80,000
up €80,000 (+15.4%), from €519,905 to €599,905
of which Distributable reserves: +€80,000
- Profit (loss) carried forward +€61,531
up €61,531 (+1,514%), from €4,064 to €65,595
- Tax, wage and social debts +€35,125
up €35,125 (+71.7%), from €49,016 to €84,141
of which Taxes: +€35,125
- Gross operating margin +€77,908
up €77,908 (+61.4%), from €126,982 to €204,890
- Taxes +€21,962
up €21,962 (+69.6%), from €31,562 to €53,524
- Financial income +€3,681
up €3,681 (+31,572%), from €12 to €3,693
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 | €961,958 | €1,487,081 | +€525,123 | +54.6% |
| Fixed assets | 21/28 | €89,181 | €89,675 | +€493 | +0.6% |
| Tangible fixed assets | 22/27 | €87,381 | €87,875 | +€493 | +0.6% |
| Land and buildings | 22 | €41,136 | €41,136 | = | 0.0% |
| Plant, machinery and equipment | 23 | €23,810 | €29,117 | +€5,307 | +22.3% |
| Furniture and vehicles | 24 | €22,435 | €17,622 | -€4,814 | -21.5% |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €872,777 | €1,397,407 | +€524,630 | +60.1% |
| Stocks and contracts in progress | 3 | €325,285 | €434,426 | +€109,141 | +33.6% |
| Stocks | 30/36 | €325,285 | €434,426 | +€109,141 | +33.6% |
| Amounts receivable within one year | 40/41 | €95,442 | €563,427 | +€467,985 | +490% |
| Trade receivables | 40 | €95,407 | €563,422 | +€468,015 | +491% |
| Other amounts receivable | 41 | €35 | €5 | -€30 | -85.7% |
| Cash at bank and in hand | 54/58 | €450,035 | €249,839 | -€200,195 | -44.5% |
| Deferred charges and accrued income | 490/1 | €2,016 | €149,714 | +€147,699 | +7,328% |
| Total equity and liabilities | 10/49 | €961,958 | €1,487,081 | +€525,123 | +54.6% |
| Equity | 10/15 | €530,169 | €671,700 | +€141,531 | +26.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €519,905 | €599,905 | +€80,000 | +15.4% |
| Tax-exempt reserves | 132 | €5,767 | €5,767 | = | 0.0% |
| Distributable reserves | 133 | €514,138 | €594,138 | +€80,000 | +15.6% |
| Profit (loss) carried forward | 14 | €4,064 | €65,595 | +€61,531 | +1,514% |
| Amounts payable | 17/49 | €431,790 | €815,382 | +€383,592 | +88.8% |
| Amounts payable within one year | 42/48 | €423,166 | €815,382 | +€392,216 | +92.7% |
| Trade debts | 44 | €156,057 | €694,726 | +€538,669 | +345% |
| Suppliers | 440/4 | €156,057 | €694,726 | +€538,669 | +345% |
| Taxes, remuneration and social security | 45 | €49,016 | €84,141 | +€35,125 | +71.7% |
| Taxes | 450/3 | €47,533 | €82,657 | +€35,125 | +73.9% |
| Remuneration and social security | 454/9 | €1,484 | €1,484 | = | 0.0% |
| Other amounts payable | 47/48 | €218,092 | €36,515 | -€181,578 | -83.3% |
| Accrued charges and deferred income | 492/3 | €8,624 | - | -€8,624 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,553 | €13,160 | +€607 | +4.8% |
| Gross operating margin | 9900 | €126,982 | €204,890 | +€77,908 | +61.4% |
| Operating profit (loss) | 9901 | €114,429 | €191,730 | +€77,301 | +67.6% |
| Financial income | 75/76B | €12 | €3,693 | +€3,681 | +31,572% |
| Recurring financial income | 75 | €12 | €3,693 | +€3,681 | +31,572% |
| Financial charges | 65/66B | €232 | €368 | +€136 | +58.6% |
| Recurring financial charges | 65 | €232 | €368 | +€136 | +58.6% |
| Profit (loss) for the period before taxes | 9903 | €114,209 | €195,055 | +€80,846 | +70.8% |
| Income taxes | 67/77 | €31,562 | €53,524 | +€21,962 | +69.6% |
| Profit (loss) for the period | 9904 | €82,646 | €141,531 | +€58,885 | +71.2% |
| Profit (loss) for the period to be appropriated | 9905 | €82,646 | €141,531 | +€58,885 | +71.2% |
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 24 October 2026 via checked.be.