VERLINDEN-BOGAERTS: 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.
VERLINDEN-BOGAERTS
Largest movements
- Financial fixed assets -€3,155
down €3,155 (-80.8%), from €3,905 to €750
- Receivables within one year -€2,153
down €2,153 (-7.6%), from €28,347 to €26,194
- Tangible fixed assets -€581
down €581 (-35.5%), from €1,637 to €1,056
- Stocks and contracts -€447
down €447 (-13.4%), from €3,338 to €2,891
- Profit (loss) carried forward -€5,446
down €5,446, from €3,575 to -€1,871
- Trade debts +€3,338
up €3,338 (+78.2%), from €4,267 to €7,605
- Tax, wage and social debts -€2,758
down €2,758 (-61.4%), from €4,491 to €1,733
of which Taxes: -€1,760
- Short-term financial debts -€1,126
down €1,126 (-21.0%), from €5,374 to €4,248
- Gross operating margin -€2,345
down €2,345 (-14.4%), from €16,302 to €13,957
- Staff costs +€2,242
up €2,242 (+17.7%), from €12,695 to €14,937
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 | €38,158 | €32,166 | -€5,993 | -15.7% |
| Fixed assets | 21/28 | €5,542 | €1,806 | -€3,736 | -67.4% |
| Tangible fixed assets | 22/27 | €1,637 | €1,056 | -€581 | -35.5% |
| Furniture and vehicles | 24 | €1,637 | €1,056 | -€581 | -35.5% |
| Financial fixed assets | 28 | €3,905 | €750 | -€3,155 | -80.8% |
| Current assets | 29/58 | €32,617 | €30,360 | -€2,257 | -6.9% |
| Stocks and contracts in progress | 3 | €3,338 | €2,891 | -€447 | -13.4% |
| Stocks | 30/36 | €3,338 | €2,891 | -€447 | -13.4% |
| Amounts receivable within one year | 40/41 | €28,347 | €26,194 | -€2,153 | -7.6% |
| Other amounts receivable | 41 | €28,347 | €26,194 | -€2,153 | -7.6% |
| Cash at bank and in hand | 54/58 | €825 | €825 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €107 | €450 | +€344 | +323% |
| Total equity and liabilities | 10/49 | €38,158 | €32,166 | -€5,993 | -15.7% |
| Equity | 10/15 | €24,026 | €18,580 | -€5,446 | -22.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,575 | -€1,871 | -€5,446 | |
| Amounts payable | 17/49 | €14,132 | €13,586 | -€546 | -3.9% |
| Amounts payable within one year | 42/48 | €14,132 | €13,586 | -€546 | -3.9% |
| Financial debts | 43 | €5,374 | €4,248 | -€1,126 | -21.0% |
| Credit institutions | 430/8 | €5,374 | €4,248 | -€1,126 | -21.0% |
| Trade debts | 44 | €4,267 | €7,605 | +€3,338 | +78.2% |
| Suppliers | 440/4 | €4,267 | €7,605 | +€3,338 | +78.2% |
| Taxes, remuneration and social security | 45 | €4,491 | €1,733 | -€2,758 | -61.4% |
| Taxes | 450/3 | €3,255 | €1,495 | -€1,760 | -54.1% |
| Remuneration and social security | 454/9 | €1,236 | €238 | -€998 | -80.8% |
| Remuneration, social security and pensions | 62 | €12,695 | €14,937 | +€2,242 | +17.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €581 | €581 | = | 0.0% |
| Other operating charges | 640/8 | €1,649 | €1,699 | +€50 | +3.0% |
| Gross operating margin | 9900 | €16,302 | €13,957 | -€2,345 | -14.4% |
| Operating profit (loss) | 9901 | €1,377 | -€3,260 | -€4,637 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €2,068 | €2,186 | +€118 | +5.7% |
| Recurring financial charges | 65 | €2,068 | €2,186 | +€118 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | -€690 | -€5,446 | -€4,756 | -689% |
| Profit (loss) for the period | 9904 | -€690 | -€5,446 | -€4,756 | -689% |
| Profit (loss) for the period to be appropriated | 9905 | -€690 | -€5,446 | -€4,756 | -689% |
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.