Verlinden Gerry: 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 Gerry
Largest movements
- Cash +€46,370
up €46,370 (+32.4%), from €142,989 to €189,359
mainly Trade debts (+€65,085) and Depreciation (+€43,437)
- Receivables within one year +€17,852
up €17,852 (+12.8%), from €139,043 to €156,895
of which Other amounts receivable: +€23,746
- Trade debts +€65,085
up €65,085 (+150%), from €43,534 to €108,619
- Debts after one year -€29,260
no longer reported in 2025 (was €29,260)
- Reserves +€18,239
up €18,239 (+11.9%), from €153,200 to €171,439
of which Distributable reserves: +€18,239
- Current portion of long-term debt +€14,077
up €14,077 (+21.2%), from €66,433 to €80,510
- Gross operating margin -€26,990
down €26,990 (-6.7%), from €401,931 to €374,941
- Staff costs +€16,665
up €16,665 (+7.3%), from €228,833 to €245,498
- Taxes -€15,738
down €15,738 (-64.0%), from €24,577 to €8,839
- Depreciation -€11,792
down €11,792 (-21.4%), from €55,229 to €43,437
- Other operating charges +€9,601
up €9,601 (+21.9%), from €43,841 to €53,442
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 | €393,863 | €460,012 | +€66,149 | +16.8% |
| Fixed assets | 21/28 | €111,831 | €113,758 | +€1,928 | +1.7% |
| Tangible fixed assets | 22/27 | €111,083 | €112,973 | +€1,891 | +1.7% |
| Land and buildings | 22 | €58,796 | €87,846 | +€29,050 | +49.4% |
| Plant, machinery and equipment | 23 | €6,675 | €2,007 | -€4,667 | -69.9% |
| Furniture and vehicles | 24 | €27,503 | €23,119 | -€4,383 | -15.9% |
| Leasing and similar rights | 25 | €18,109 | - | -€18,109 | |
| Financial fixed assets | 28 | €748 | €785 | +€37 | +5.0% |
| Current assets | 29/58 | €282,033 | €346,254 | +€64,221 | +22.8% |
| Amounts receivable within one year | 40/41 | €139,043 | €156,895 | +€17,852 | +12.8% |
| Trade receivables | 40 | €82,450 | €76,556 | -€5,894 | -7.1% |
| Other amounts receivable | 41 | €56,593 | €80,339 | +€23,746 | +42.0% |
| Cash at bank and in hand | 54/58 | €142,989 | €189,359 | +€46,370 | +32.4% |
| Total equity and liabilities | 10/49 | €393,863 | €460,012 | +€66,149 | +16.8% |
| Equity | 10/15 | €172,803 | €191,042 | +€18,239 | +10.6% |
| Contributions | 10/11 | €19,603 | €19,603 | = | 0.0% |
| Reserves | 13 | €153,200 | €171,439 | +€18,239 | +11.9% |
| Non-distributable reserves | 130/1 | €1,960 | €1,960 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,960 | €1,960 | = | 0.0% |
| Distributable reserves | 133 | €151,240 | €169,479 | +€18,239 | +12.1% |
| Amounts payable | 17/49 | €221,060 | €268,970 | +€47,910 | +21.7% |
| Amounts payable after more than one year | 17 | €29,260 | - | -€29,260 | |
| Financial debts | 170/4 | €29,260 | - | -€29,260 | |
| Amounts payable within one year | 42/48 | €191,800 | €268,970 | +€77,170 | +40.2% |
| Current portion of amounts payable after more than one year | 42 | €66,433 | €80,510 | +€14,077 | +21.2% |
| Trade debts | 44 | €43,534 | €108,619 | +€65,085 | +150% |
| Suppliers | 440/4 | €43,534 | €108,619 | +€65,085 | +150% |
| Taxes, remuneration and social security | 45 | €81,833 | €79,840 | -€1,992 | -2.4% |
| Taxes | 450/3 | €50,431 | €51,857 | +€1,426 | +2.8% |
| Remuneration and social security | 454/9 | €31,401 | €27,983 | -€3,418 | -10.9% |
| Remuneration, social security and pensions | 62 | €228,833 | €245,498 | +€16,665 | +7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,229 | €43,437 | -€11,792 | -21.4% |
| Other operating charges | 640/8 | €43,841 | €53,442 | +€9,601 | +21.9% |
| Non-recurring operating charges | 66A | - | €315 | +€315 | |
| Gross operating margin | 9900 | €401,931 | €374,941 | -€26,990 | -6.7% |
| Operating profit (loss) | 9901 | €74,029 | €32,250 | -€41,779 | -56.4% |
| Financial income | 75/76B | €326 | €493 | +€168 | +51.6% |
| Recurring financial income | 75 | €326 | €493 | +€168 | +51.6% |
| Financial charges | 65/66B | €5,190 | €5,665 | +€475 | +9.2% |
| Recurring financial charges | 65 | €5,190 | €5,665 | +€475 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | €69,165 | €27,078 | -€42,086 | -60.8% |
| Income taxes | 67/77 | €24,577 | €8,839 | -€15,738 | -64.0% |
| Profit (loss) for the period | 9904 | €44,588 | €18,239 | -€26,349 | -59.1% |
| Profit (loss) for the period to be appropriated | 9905 | €44,588 | €18,239 | -€26,349 | -59.1% |
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 26 October 2026 via checked.be.