VERELST ANDREAS: 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.
VERELST ANDREAS
Largest movements
- Receivables after one year +€100,000
new in 2025: €100,000
- Cash -€22,982
down €22,982 (-23.8%), from €96,462 to €73,480
mainly Receivables after one year (-€100,000) and Receivables within one year (-€13,000)
- Receivables within one year +€13,000
up €13,000 (+122%), from €10,667 to €23,667
of which Trade receivables: +€14,121
- Tangible fixed assets -€10,730
down €10,730 (-45.3%), from €23,698 to €12,967
- Reserves +€78,246
up €78,246 (+68.9%), from €113,509 to €191,755
- Gross operating margin -€42,075
down €42,075 (-25.7%), from €163,510 to €121,435
- Taxes -€8,901
down €8,901 (-22.2%), from €40,165 to €31,264
- Depreciation +€2,237
up €2,237 (+26.3%), from €8,493 to €10,730
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 | €131,643 | €210,903 | +€79,261 | +60.2% |
| Fixed assets | 21/28 | €23,698 | €12,967 | -€10,730 | -45.3% |
| Tangible fixed assets | 22/27 | €23,698 | €12,967 | -€10,730 | -45.3% |
| Furniture and vehicles | 24 | €23,698 | €12,967 | -€10,730 | -45.3% |
| Current assets | 29/58 | €107,945 | €197,936 | +€89,991 | +83.4% |
| Amounts receivable after more than one year | 29 | - | €100,000 | +€100,000 | |
| Trade receivables | 290 | - | €100,000 | +€100,000 | |
| Amounts receivable within one year | 40/41 | €10,667 | €23,667 | +€13,000 | +122% |
| Trade receivables | 40 | €9,536 | €23,657 | +€14,121 | +148% |
| Other amounts receivable | 41 | €1,131 | €10 | -€1,120 | -99.1% |
| Cash at bank and in hand | 54/58 | €96,462 | €73,480 | -€22,982 | -23.8% |
| Deferred charges and accrued income | 490/1 | €816 | €789 | -€27 | -3.3% |
| Total equity and liabilities | 10/49 | €131,643 | €210,903 | +€79,261 | +60.2% |
| Equity | 10/15 | €123,509 | €201,755 | +€78,246 | +63.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €113,509 | €191,755 | +€78,246 | +68.9% |
| Distributable reserves | 133 | €113,509 | €191,755 | +€78,246 | +68.9% |
| Amounts payable | 17/49 | €8,134 | €9,148 | +€1,014 | +12.5% |
| Amounts payable within one year | 42/48 | €8,134 | €9,148 | +€1,014 | +12.5% |
| Trade debts | 44 | €1,009 | €615 | -€394 | -39.0% |
| Suppliers | 440/4 | €1,009 | €615 | -€394 | -39.0% |
| Taxes, remuneration and social security | 45 | €7,124 | €8,393 | +€1,268 | +17.8% |
| Taxes | 450/3 | €7,124 | €8,393 | +€1,268 | +17.8% |
| Other amounts payable | 47/48 | - | €140 | +€140 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,493 | €10,730 | +€2,237 | +26.3% |
| Other operating charges | 640/8 | €1,310 | €1,038 | -€272 | -20.7% |
| Gross operating margin | 9900 | €163,510 | €121,435 | -€42,075 | -25.7% |
| Operating profit (loss) | 9901 | €153,707 | €109,667 | -€44,040 | -28.7% |
| Financial charges | 65/66B | €34 | €157 | +€123 | +366% |
| Recurring financial charges | 65 | €34 | €157 | +€123 | +366% |
| Profit (loss) for the period before taxes | 9903 | €153,673 | €109,510 | -€44,163 | -28.7% |
| Income taxes | 67/77 | €40,165 | €31,264 | -€8,901 | -22.2% |
| Profit (loss) for the period | 9904 | €113,509 | €78,246 | -€35,263 | -31.1% |
| Profit (loss) for the period to be appropriated | 9905 | €113,509 | €78,246 | -€35,263 | -31.1% |
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 15 October 2026 via checked.be.