Verplaetsen: 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.
Verplaetsen
Largest movements
- Receivables within one year -€1.0m
down €1.0m (-59.2%), from €1.7m to €702,015
of which Trade receivables: -€877,898
- Cash +€418,571
up €418,571 (+66.0%), from €634,392 to €1.1m
mainly Receivables within one year (+€1.0m) and Depreciation (+€107,449)
- Stocks and contracts +€250,480
up €250,480 (+26.6%), from €941,834 to €1.2m
of which Contracts in progress: +€262,925
- Tangible fixed assets -€90,199
down €90,199 (-31.0%), from €291,295 to €201,096
of which Furniture and vehicles: -€76,397
- Trade debts -€228,482
down €228,482 (-23.5%), from €974,010 to €745,528
- Short-term financial debts -€125,000
no longer reported in 2025 (was €125,000)
- Debts after one year -€75,033
down €75,033 (-45.7%), from €164,140 to €89,107
- Gross operating margin -€244,214
down €244,214 (-13.0%), from €1.9m to €1.6m
- Staff costs -€93,143
down €93,143 (-5.9%), from €1.6m to €1.5m
- Taxes -€27,402
down €27,402 (-69.3%), from €39,525 to €12,123
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.
Cash bridge derived
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 | €3,591,122 | €3,164,584 | -€426,538 | -11.9% |
| Fixed assets | 21/28 | €293,982 | €216,422 | -€77,560 | -26.4% |
| Tangible fixed assets | 22/27 | €291,295 | €201,096 | -€90,199 | -31.0% |
| Land and buildings | 22 | €5,133 | €1,096 | -€4,037 | -78.7% |
| Plant, machinery and equipment | 23 | €18,123 | €8,359 | -€9,764 | -53.9% |
| Furniture and vehicles | 24 | €268,039 | €191,642 | -€76,397 | -28.5% |
| Financial fixed assets | 28 | €2,688 | €15,326 | +€12,638 | +470.3% |
| Current assets | 29/58 | €3,297,140 | €2,948,162 | -€348,978 | -10.6% |
| Stocks and contracts in progress | 3 | €941,834 | €1,192,315 | +€250,480 | +26.6% |
| Stocks | 30/36 | €694,125 | €681,680 | -€12,445 | -1.8% |
| Contracts in progress | 37 | €247,709 | €510,634 | +€262,925 | +106.1% |
| Amounts receivable within one year | 40/41 | €1,719,746 | €702,015 | -€1.0m | -59.2% |
| Trade receivables | 40 | €1,491,858 | €613,961 | -€877,898 | -58.8% |
| Other amounts receivable | 41 | €227,888 | €88,055 | -€139,834 | -61.4% |
| Cash at bank and in hand | 54/58 | €634,392 | €1,052,964 | +€418,571 | +66.0% |
| Deferred charges and accrued income | 490/1 | €1,167 | €869 | -€298 | -25.5% |
| Total equity and liabilities | 10/49 | €3,591,122 | €3,164,584 | -€426,538 | -11.9% |
| Equity | 10/15 | €1,548,113 | €1,557,630 | +€9,516 | +0.6% |
| Contributions | 10/11 | €136,341 | €136,341 | = | 0.0% |
| Reserves | 13 | €1,411,772 | €1,421,288 | +€9,516 | +0.7% |
| Distributable reserves | 133 | €1,411,772 | €1,421,288 | +€9,516 | +0.7% |
| Amounts payable | 17/49 | €2,043,009 | €1,606,954 | -€436,054 | -21.3% |
| Amounts payable after more than one year | 17 | €164,140 | €89,107 | -€75,033 | -45.7% |
| Financial debts | 170/4 | €164,140 | €89,107 | -€75,033 | -45.7% |
| Amounts payable within one year | 42/48 | €1,877,087 | €1,515,915 | -€361,172 | -19.2% |
| Current portion of amounts payable after more than one year | 42 | €74,969 | €81,807 | +€6,838 | +9.1% |
| Financial debts | 43 | €125,000 | - | -€125,000 | |
| Credit institutions | 430/8 | €125,000 | - | -€125,000 | |
| Trade debts | 44 | €974,010 | €745,528 | -€228,482 | -23.5% |
| Suppliers | 440/4 | €974,010 | €745,528 | -€228,482 | -23.5% |
| Taxes, remuneration and social security | 45 | €91,649 | €92,132 | +€483 | +0.5% |
| Taxes | 450/3 | €7,273 | €6,682 | -€590 | -8.1% |
| Remuneration and social security | 454/9 | €84,376 | €85,449 | +€1,073 | +1.3% |
| Other amounts payable | 47/48 | €611,460 | €596,449 | -€15,011 | -2.5% |
| Accrued charges and deferred income | 492/3 | €1,782 | €1,932 | +€150 | +8.4% |
| Remuneration, social security and pensions | 62 | €1,576,453 | €1,483,311 | -€93,143 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,042 | €107,449 | -€6,594 | -5.8% |
| Other operating charges | 640/8 | €20,821 | €10,673 | -€10,148 | -48.7% |
| Gross operating margin | 9900 | €1,878,020 | €1,633,806 | -€244,214 | -13.0% |
| Operating profit (loss) | 9901 | €166,704 | €32,373 | -€134,330 | -80.6% |
| Financial income | 75/76B | €2,811 | €2,643 | -€168 | -6.0% |
| Recurring financial income | 75 | €2,811 | €2,643 | -€168 | -6.0% |
| Financial charges | 65/66B | €20,446 | €13,378 | -€7,069 | -34.6% |
| Recurring financial charges | 65 | €20,446 | €13,378 | -€7,069 | -34.6% |
| Profit (loss) for the period before taxes | 9903 | €149,069 | €21,639 | -€127,430 | -85.5% |
| Income taxes | 67/77 | €39,525 | €12,123 | -€27,402 | -69.3% |
| Profit (loss) for the period | 9904 | €109,544 | €9,516 | -€100,028 | -91.3% |
| Profit (loss) for the period to be appropriated | 9905 | €109,544 | €9,516 | -€100,028 | -91.3% |
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 12 October 2026 via checked.be.