Verschueren K.: 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.
Verschueren K.
Largest movements
- Receivables within one year +€455,342
up €455,342 (+234%), from €194,785 to €650,127
of which Other amounts receivable: +€501,012
- Cash -€194,602
down €194,602 (-45.5%), from €427,409 to €232,807
mainly Receivables within one year (-€455,342) and Contributions, distributions and other (-€280,000)
- Stocks and contracts +€34,672
up €34,672 (+12.4%), from €279,354 to €314,025
- Tangible fixed assets +€12,868
up €12,868 (+63.4%), from €20,299 to €33,167
of which Furniture and vehicles: +€14,359
- Other debts +€220,904
up €220,904 (+1,292%), from €17,096 to €238,000
- Trade debts +€98,488
up €98,488 (+143%), from €68,868 to €167,357
- Tax, wage and social debts -€12,865
down €12,865 (-19.8%), from €64,865 to €52,000
- Gross operating margin +€54,379
up €54,379 (+14.5%), from €375,402 to €429,781
- Write-downs +€35,079
new in 2025: €35,079
- Taxes -€19,725
down €19,725 (-18.2%), from €108,313 to €88,588
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 | €927,013 | €1,233,851 | +€306,838 | +33.1% |
| Fixed assets | 21/28 | €22,104 | €33,398 | +€11,294 | +51.1% |
| Intangible fixed assets | 21 | €1,705 | €131 | -€1,574 | -92.3% |
| Tangible fixed assets | 22/27 | €20,299 | €33,167 | +€12,868 | +63.4% |
| Plant, machinery and equipment | 23 | €10,819 | €9,328 | -€1,491 | -13.8% |
| Furniture and vehicles | 24 | €9,480 | €23,839 | +€14,359 | +151% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €904,909 | €1,200,452 | +€295,544 | +32.7% |
| Stocks and contracts in progress | 3 | €279,354 | €314,025 | +€34,672 | +12.4% |
| Stocks | 30/36 | €279,354 | €314,025 | +€34,672 | +12.4% |
| Amounts receivable within one year | 40/41 | €194,785 | €650,127 | +€455,342 | +234% |
| Trade receivables | 40 | €194,785 | €149,115 | -€45,671 | -23.4% |
| Other amounts receivable | 41 | - | €501,012 | +€501,012 | |
| Cash at bank and in hand | 54/58 | €427,409 | €232,807 | -€194,602 | -45.5% |
| Deferred charges and accrued income | 490/1 | €3,361 | €3,493 | +€132 | +3.9% |
| Total equity and liabilities | 10/49 | €927,013 | €1,233,851 | +€306,838 | +33.1% |
| Equity | 10/15 | €776,183 | €776,494 | +€311 | 0.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €765,000 | €765,000 | = | 0.0% |
| Distributable reserves | 133 | €765,000 | €765,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,183 | €10,494 | +€311 | +3.1% |
| Amounts payable | 17/49 | €150,830 | €457,357 | +€306,527 | +203% |
| Amounts payable within one year | 42/48 | €150,830 | €457,357 | +€306,527 | +203% |
| Trade debts | 44 | €68,868 | €167,357 | +€98,488 | +143% |
| Suppliers | 440/4 | €68,868 | €167,357 | +€98,488 | +143% |
| Taxes, remuneration and social security | 45 | €64,865 | €52,000 | -€12,865 | -19.8% |
| Taxes | 450/3 | €64,865 | €52,000 | -€12,865 | -19.8% |
| Other amounts payable | 47/48 | €17,096 | €238,000 | +€220,904 | +1,292% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,577 | €12,487 | +€2,910 | +30.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €35,079 | +€35,079 | |
| Other operating charges | 640/8 | €888 | €1,051 | +€163 | +18.3% |
| Gross operating margin | 9900 | €375,402 | €429,781 | +€54,379 | +14.5% |
| Operating profit (loss) | 9901 | €364,937 | €381,163 | +€16,226 | +4.4% |
| Financial income | 75/76B | €573 | €3,728 | +€3,155 | +550% |
| Recurring financial income | 75 | €573 | €3,728 | +€3,155 | +550% |
| Financial charges | 65/66B | €13,924 | €15,992 | +€2,067 | +14.8% |
| Recurring financial charges | 65 | €13,924 | €15,992 | +€2,067 | +14.8% |
| Profit (loss) for the period before taxes | 9903 | €351,586 | €368,899 | +€17,314 | +4.9% |
| Income taxes | 67/77 | €108,313 | €88,588 | -€19,725 | -18.2% |
| Profit (loss) for the period | 9904 | €243,273 | €280,311 | +€37,038 | +15.2% |
| Profit (loss) for the period to be appropriated | 9905 | €243,273 | €280,311 | +€37,038 | +15.2% |
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 23 October 2026 via checked.be.