Verlinden W.: 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 W.
Largest movements
- Current investments +€2.4m
up €2.4m (+269%), from €889,793 to €3.3m
- Financial fixed assets -€1.8m
no longer reported in 2025 (was €1.8m)
- Receivables within one year -€501,550
down €501,550 (-44.1%), from €1.1m to €634,722
of which Other amounts receivable: -€500,118
- Cash +€366,376
up €366,376 (+54.3%), from €675,315 to €1.0m
mainly Investment in fixed assets (net) (+€1.8m) and Net result for the year (+€534,356)
- Reserves +€534,356
up €534,356 (+13.1%), from €4.1m to €4.6m
of which Distributable reserves: +€536,216
- Other debts -€157,110
down €157,110 (-45.7%), from €343,810 to €186,700
- Gross operating margin -€169,509
down €169,509 (-22.6%), from €749,390 to €579,882
- Financial income +€78,125
up €78,125 (+33.9%), from €230,669 to €308,795
- Financial charges +€52,956
up €52,956 (+21,119%), from €251 to €53,207
- Taxes +€23,713
up €23,713 (+9.0%), from €264,625 to €288,338
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 | €4,571,069 | €4,977,041 | +€405,972 | +8.9% |
| Fixed assets | 21/28 | €1,869,690 | €21,059 | -€1.8m | -98.9% |
| Tangible fixed assets | 22/27 | €31,969 | €21,059 | -€10,910 | -34.1% |
| Furniture and vehicles | 24 | €31,969 | €21,059 | -€10,910 | -34.1% |
| Financial fixed assets | 28 | €1,837,721 | - | -€1.8m | |
| Current assets | 29/58 | €2,701,379 | €4,955,982 | +€2.3m | +83.5% |
| Amounts receivable within one year | 40/41 | €1,136,271 | €634,722 | -€501,550 | -44.1% |
| Trade receivables | 40 | €1,432 | - | -€1,432 | |
| Other amounts receivable | 41 | €1,134,839 | €634,722 | -€500,118 | -44.1% |
| Current investments | 50/53 | €889,793 | €3,279,569 | +€2.4m | +269% |
| Cash at bank and in hand | 54/58 | €675,315 | €1,041,691 | +€366,376 | +54.3% |
| Total equity and liabilities | 10/49 | €4,571,069 | €4,977,041 | +€405,972 | +8.9% |
| Equity | 10/15 | €4,097,175 | €4,631,531 | +€534,356 | +13.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,075,005 | €4,609,361 | +€534,356 | +13.1% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €4,073,145 | €4,609,361 | +€536,216 | +13.2% |
| Profit (loss) carried forward | 14 | €3,570 | €3,570 | = | 0.0% |
| Amounts payable | 17/49 | €473,894 | €345,510 | -€128,384 | -27.1% |
| Amounts payable within one year | 42/48 | €473,894 | €345,510 | -€128,384 | -27.1% |
| Trade debts | 44 | €128 | €395 | +€267 | +209% |
| Suppliers | 440/4 | €128 | €395 | +€267 | +209% |
| Taxes, remuneration and social security | 45 | €129,956 | €158,415 | +€28,459 | +21.9% |
| Taxes | 450/3 | €129,956 | €158,415 | +€28,459 | +21.9% |
| Other amounts payable | 47/48 | €343,810 | €186,700 | -€157,110 | -45.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,910 | €10,910 | = | 0.0% |
| Other operating charges | 640/8 | €968 | €1,867 | +€899 | +92.9% |
| Gross operating margin | 9900 | €749,390 | €579,882 | -€169,509 | -22.6% |
| Operating profit (loss) | 9901 | €737,513 | €567,106 | -€170,408 | -23.1% |
| Financial income | 75/76B | €230,669 | €308,795 | +€78,125 | +33.9% |
| Recurring financial income | 75 | €230,669 | €308,795 | +€78,125 | +33.9% |
| Financial charges | 65/66B | €251 | €53,207 | +€52,956 | +21,119% |
| Recurring financial charges | 65 | €251 | €53,207 | +€52,956 | +21,119% |
| Profit (loss) for the period before taxes | 9903 | €967,932 | €822,693 | -€145,238 | -15.0% |
| Income taxes | 67/77 | €264,625 | €288,338 | +€23,713 | +9.0% |
| Profit (loss) for the period | 9904 | €703,307 | €534,356 | -€168,951 | -24.0% |
| Profit (loss) for the period to be appropriated | 9905 | €703,307 | €534,356 | -€168,951 | -24.0% |
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.