VERDONCK BENNY: what changed
VERDONCK BENNY
Largest movements
- Tangible fixed assets +€67,036
up €67,036 (+390%), from €17,174 to €84,210
of which Plant, machinery and equipment: +€67,325
- Receivables within one year +€60,587
up €60,587 (+467%), from €12,964 to €73,551
of which Trade receivables: +€51,242
- Cash -€35,981
down €35,981 (-28.8%), from €124,878 to €88,896
mainly Investment in fixed assets (net) (-€76,700) and Receivables within one year (-€60,587)
- Stocks and contracts +€8,585
up €8,585 (+89.3%), from €9,615 to €18,200
- Debts after one year +€50,483
new in 2025: €50,483
- Other debts +€36,537
new in 2025: €36,537
- Current portion of long-term debt +€14,520
new in 2025: €14,520
- Trade debts -€4,131
down €4,131 (-26.3%), from €15,721 to €11,589
- Tax, wage and social debts +€3,234
up €3,234 (+15.2%), from €21,330 to €24,565
of which Remuneration and social security: +€2,562
- Gross operating margin +€7,336
up €7,336 (+13.9%), from €52,621 to €59,956
- Depreciation +€7,257
up €7,257 (+302%), from €2,407 to €9,664
- Taxes -€1,077
down €1,077 (-7.7%), from €14,068 to €12,991
- Financial charges +€1,014
up €1,014 (+45.5%), from €2,227 to €3,241
- Other operating charges +€640
up €640 (+101%), from €634 to €1,273
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €175,274 | €273,396 | +€98,123 | +56.0% |
| Fixed assets | 21/28 | €17,479 | €84,515 | +€67,036 | +384% |
| Tangible fixed assets | 22/27 | €17,174 | €84,210 | +€67,036 | +390% |
| Plant, machinery and equipment | 23 | €16,885 | €84,210 | +€67,325 | +399% |
| Furniture and vehicles | 24 | €289 | - | -€289 | |
| Financial fixed assets | 28 | €305 | €305 | = | 0.0% |
| Current assets | 29/58 | €157,795 | €188,881 | +€31,087 | +19.7% |
| Stocks and contracts in progress | 3 | €9,615 | €18,200 | +€8,585 | +89.3% |
| Stocks | 30/36 | €9,615 | €18,200 | +€8,585 | +89.3% |
| Amounts receivable within one year | 40/41 | €12,964 | €73,551 | +€60,587 | +467% |
| Trade receivables | 40 | €3,315 | €54,556 | +€51,242 | +1,546% |
| Other amounts receivable | 41 | €9,649 | €18,995 | +€9,346 | +96.9% |
| Cash at bank and in hand | 54/58 | €124,878 | €88,896 | -€35,981 | -28.8% |
| Deferred charges and accrued income | 490/1 | €10,338 | €8,234 | -€2,104 | -20.4% |
| Total equity and liabilities | 10/49 | €175,274 | €273,396 | +€98,123 | +56.0% |
| Equity | 10/15 | €138,223 | €135,702 | -€2,520 | -1.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €119,623 | €117,102 | -€2,520 | -2.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €117,763 | €115,242 | -€2,520 | -2.1% |
| Amounts payable | 17/49 | €37,051 | €137,694 | +€100,643 | +272% |
| Amounts payable after more than one year | 17 | - | €50,483 | +€50,483 | |
| Financial debts | 170/4 | - | €50,483 | +€50,483 | |
| Amounts payable within one year | 42/48 | €37,051 | €87,211 | +€50,160 | +135% |
| Current portion of amounts payable after more than one year | 42 | - | €14,520 | +€14,520 | |
| Trade debts | 44 | €15,721 | €11,589 | -€4,131 | -26.3% |
| Suppliers | 440/4 | €15,721 | €11,589 | -€4,131 | -26.3% |
| Taxes, remuneration and social security | 45 | €21,330 | €24,565 | +€3,234 | +15.2% |
| Taxes | 450/3 | €21,330 | €22,003 | +€673 | +3.2% |
| Remuneration and social security | 454/9 | - | €2,562 | +€2,562 | |
| Other amounts payable | 47/48 | - | €36,537 | +€36,537 | |
| Non-recurring operating income | 76A | - | €4,334 | +€4,334 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,407 | €9,664 | +€7,257 | +302% |
| Other operating charges | 640/8 | €634 | €1,273 | +€640 | +101% |
| Gross operating margin | 9900 | €52,621 | €59,956 | +€7,336 | +13.9% |
| Operating profit (loss) | 9901 | €49,580 | €49,019 | -€561 | -1.1% |
| Financial income | 75/76B | €1,365 | €1,229 | -€136 | -10.0% |
| Recurring financial income | 75 | €1,365 | €1,229 | -€136 | -10.0% |
| Financial charges | 65/66B | €2,227 | €3,241 | +€1,014 | +45.5% |
| Recurring financial charges | 65 | €2,227 | €3,241 | +€1,014 | +45.5% |
| Profit (loss) for the period before taxes | 9903 | €48,718 | €47,007 | -€1,711 | -3.5% |
| Income taxes | 67/77 | €14,068 | €12,991 | -€1,077 | -7.7% |
| Profit (loss) for the period | 9904 | €34,650 | €34,016 | -€634 | -1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €34,650 | €34,016 | -€634 | -1.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.