Verstek: 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.
Verstek
Largest movements
- Stocks and contracts -€263,930
down €263,930 (-100.0%), from €263,930 to €0
- Cash +€115,871
up €115,871 (+348.2%), from €33,274 to €149,145
mainly Stocks and contracts (+€263,930) and Net result for the year (+€58,847)
- Receivables within one year +€22,672
up €22,672 (+456.5%), from €4,967 to €27,639
of which Trade receivables: +€22,946
- Short-term financial debts -€161,877
down €161,877 (-100.0%), from €161,896 to €19
- Reserves +€58,847
up €58,847 (+93.1%), from €63,198 to €122,045
- Debts after one year -€46,498
down €46,498 (-94.9%), from €48,984 to €2,486
- Tax, wage and social debts +€20,524
up €20,524 (+223.7%), from €9,176 to €29,700
of which Taxes: +€20,524
- Other debts +€8,750
up €8,750 (+71.4%), from €12,259 to €21,009
- Gross operating margin +€70,296
up €70,296 (+322.2%), from €21,816 to €92,112
- Taxes +€11,301
up €11,301 (+214.1%), from €5,278 to €16,579
- Financial charges +€8,153
up €8,153 (+677.4%), from €1,204 to €9,357
- Financial income -€4,814
down €4,814 (-94.5%), from €5,094 to €280
- Other operating charges +€1,719
up €1,719 (+193.7%), from €887 to €2,606
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 | €314,635 | €186,763 | -€127,872 | -40.6% |
| Fixed assets | 21/28 | €11,565 | €9,056 | -€2,509 | -21.7% |
| Tangible fixed assets | 22/27 | €11,565 | €9,056 | -€2,509 | -21.7% |
| Furniture and vehicles | 24 | €11,565 | €9,056 | -€2,509 | -21.7% |
| Current assets | 29/58 | €303,070 | €177,707 | -€125,363 | -41.4% |
| Stocks and contracts in progress | 3 | €263,930 | €0 | -€263,930 | -100.0% |
| Stocks | 30/36 | €263,930 | €0 | -€263,930 | -100.0% |
| Amounts receivable within one year | 40/41 | €4,967 | €27,639 | +€22,672 | +456.5% |
| Trade receivables | 40 | €4,689 | €27,636 | +€22,946 | +489.3% |
| Other amounts receivable | 41 | €277 | €4 | -€274 | -98.7% |
| Cash at bank and in hand | 54/58 | €33,274 | €149,145 | +€115,871 | +348.2% |
| Deferred charges and accrued income | 490/1 | €899 | €922 | +€23 | +2.6% |
| Total equity and liabilities | 10/49 | €314,635 | €186,763 | -€127,872 | -40.6% |
| Equity | 10/15 | €68,198 | €127,045 | +€58,847 | +86.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €63,198 | €122,045 | +€58,847 | +93.1% |
| Distributable reserves | 133 | €63,198 | €122,045 | +€58,847 | +93.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €246,437 | €59,718 | -€186,719 | -75.8% |
| Amounts payable after more than one year | 17 | €48,984 | €2,486 | -€46,498 | -94.9% |
| Financial debts | 170/4 | €48,984 | €2,486 | -€46,498 | -94.9% |
| Amounts payable within one year | 42/48 | €197,289 | €56,823 | -€140,466 | -71.2% |
| Current portion of amounts payable after more than one year | 42 | €4,803 | €4,898 | +€96 | +2.0% |
| Financial debts | 43 | €161,896 | €19 | -€161,877 | -100.0% |
| Credit institutions | 430/8 | €161,896 | €19 | -€161,877 | -100.0% |
| Trade debts | 44 | €9,156 | €1,197 | -€7,959 | -86.9% |
| Suppliers | 440/4 | €9,156 | €1,197 | -€7,959 | -86.9% |
| Taxes, remuneration and social security | 45 | €9,176 | €29,700 | +€20,524 | +223.7% |
| Taxes | 450/3 | €7,176 | €27,700 | +€20,524 | +286.0% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €12,259 | €21,009 | +€8,750 | +71.4% |
| Accrued charges and deferred income | 492/3 | €165 | €410 | +€245 | +148.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,597 | €4,605 | +€8 | +0.2% |
| Other operating charges | 640/8 | €887 | €2,606 | +€1,719 | +193.7% |
| Non-recurring operating charges | 66A | - | €398 | +€398 | |
| Gross operating margin | 9900 | €21,816 | €92,112 | +€70,296 | +322.2% |
| Operating profit (loss) | 9901 | €16,331 | €84,503 | +€68,171 | +417.4% |
| Financial income | 75/76B | €5,094 | €280 | -€4,814 | -94.5% |
| Recurring financial income | 75 | €5,094 | €280 | -€4,814 | -94.5% |
| Financial charges | 65/66B | €1,204 | €9,357 | +€8,153 | +677.4% |
| Recurring financial charges | 65 | €1,204 | €9,357 | +€8,153 | +677.4% |
| Profit (loss) for the period before taxes | 9903 | €20,222 | €75,426 | +€55,204 | +273.0% |
| Income taxes | 67/77 | €5,278 | €16,579 | +€11,301 | +214.1% |
| Profit (loss) for the period | 9904 | €14,944 | €58,847 | +€43,903 | +293.8% |
| Profit (loss) for the period to be appropriated | 9905 | €14,944 | €58,847 | +€43,903 | +293.8% |
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 11 October 2026 via checked.be.