Verdonck: 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.
Verdonck
Largest movements
- Cash +€35,648
up €35,648 (+23.8%), from €149,520 to €185,168
mainly Net result for the year (+€61,405) and Receivables within one year (+€8,392)
- Receivables within one year -€8,392
down €8,392 (-24.8%), from €33,831 to €25,439
of which Trade receivables: -€11,100
- Deferred charges and accrued income -€4,127
no longer reported in 2025 (was €4,127)
- Tangible fixed assets +€3,013
up €3,013 (+80.7%), from €3,736 to €6,749
of which Plant, machinery and equipment: +€3,653
- Reserves +€61,405
up €61,405 (+62.3%), from €98,610 to €160,015
- Trade debts -€22,769
down €22,769 (-86.3%), from €26,395 to €3,626
- Tax, wage and social debts -€10,430
down €10,430 (-62.2%), from €16,771 to €6,342
of which Taxes: -€10,797
- Staff costs -€79,881
no longer reported in 2025 (was €79,881)
- Gross operating margin -€66,871
down €66,871 (-43.8%), from €152,684 to €85,812
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 | €191,713 | €217,856 | +€26,142 | +13.6% |
| Fixed assets | 21/28 | €3,736 | €6,749 | +€3,013 | +80.7% |
| Tangible fixed assets | 22/27 | €3,736 | €6,749 | +€3,013 | +80.7% |
| Plant, machinery and equipment | 23 | €545 | €4,197 | +€3,653 | +671% |
| Furniture and vehicles | 24 | €3,191 | €2,551 | -€640 | -20.1% |
| Current assets | 29/58 | €187,978 | €211,107 | +€23,130 | +12.3% |
| Stocks and contracts in progress | 3 | €500 | €500 | = | 0.0% |
| Stocks | 30/36 | €500 | €500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €33,831 | €25,439 | -€8,392 | -24.8% |
| Trade receivables | 40 | €28,448 | €17,348 | -€11,100 | -39.0% |
| Other amounts receivable | 41 | €5,382 | €8,091 | +€2,708 | +50.3% |
| Cash at bank and in hand | 54/58 | €149,520 | €185,168 | +€35,648 | +23.8% |
| Deferred charges and accrued income | 490/1 | €4,127 | - | -€4,127 | |
| Total equity and liabilities | 10/49 | €191,713 | €217,856 | +€26,142 | +13.6% |
| Equity | 10/15 | €132,352 | €193,757 | +€61,405 | +46.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €98,610 | €160,015 | +€61,405 | +62.3% |
| Distributable reserves | 133 | €98,610 | €160,015 | +€61,405 | +62.3% |
| Profit (loss) carried forward | 14 | €15,150 | €15,150 | = | 0.0% |
| Amounts payable | 17/49 | €59,361 | €24,099 | -€35,263 | -59.4% |
| Amounts payable within one year | 42/48 | €57,652 | €22,389 | -€35,263 | -61.2% |
| Trade debts | 44 | €26,395 | €3,626 | -€22,769 | -86.3% |
| Suppliers | 440/4 | €26,395 | €3,626 | -€22,769 | -86.3% |
| Taxes, remuneration and social security | 45 | €16,771 | €6,342 | -€10,430 | -62.2% |
| Taxes | 450/3 | €14,538 | €3,742 | -€10,797 | -74.3% |
| Remuneration and social security | 454/9 | €2,233 | €2,600 | +€367 | +16.4% |
| Other amounts payable | 47/48 | €14,485 | €12,422 | -€2,064 | -14.2% |
| Accrued charges and deferred income | 492/3 | €1,710 | €1,710 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €79,881 | - | -€79,881 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €914 | €1,252 | +€338 | +37.0% |
| Other operating charges | 640/8 | €1,002 | €1,026 | +€25 | +2.5% |
| Gross operating margin | 9900 | €152,684 | €85,812 | -€66,871 | -43.8% |
| Operating profit (loss) | 9901 | €70,887 | €83,534 | +€12,647 | +17.8% |
| Financial income | 75/76B | €2,297 | €1,684 | -€613 | -26.7% |
| Recurring financial income | 75 | €2,297 | €1,684 | -€613 | -26.7% |
| Financial charges | 65/66B | €820 | €86 | -€734 | -89.5% |
| Recurring financial charges | 65 | €820 | €86 | -€734 | -89.5% |
| Profit (loss) for the period before taxes | 9903 | €72,363 | €85,131 | +€12,768 | +17.6% |
| Income taxes | 67/77 | €23,695 | €23,726 | +€31 | +0.1% |
| Profit (loss) for the period | 9904 | €48,668 | €61,405 | +€12,737 | +26.2% |
| Profit (loss) for the period to be appropriated | 9905 | €48,668 | €61,405 | +€12,737 | +26.2% |
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 25 October 2026 via checked.be.