VERSTRAETE: 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.
VERSTRAETE
Largest movements
- Cash +€51,747
up €51,747 (+72.3%), from €71,588 to €123,335
mainly Depreciation (+€74,599) and Receivables within one year (+€30,622)
- Tangible fixed assets -€42,803
down €42,803 (-6.6%), from €646,771 to €603,969
of which Plant, machinery and equipment: -€23,710
- Receivables within one year -€30,622
down €30,622 (-28.5%), from €107,560 to €76,938
of which Trade receivables: -€30,722
- Stocks and contracts -€20,027
down €20,027 (-40.5%), from €49,412 to €29,385
- Formation expenses -€13,281
down €13,281 (-12.7%), from €104,589 to €91,307
- Debts after one year -€40,999
down €40,999 (-14.8%), from €276,411 to €235,413
- Profit (loss) carried forward -€30,002
down €30,002 (-6.1%), from €494,440 to €464,438
- Trade debts +€15,038
up €15,038 (+38.2%), from €39,346 to €54,384
- Purchases and services +€93,224
up €93,224 (+15.2%), from €614,470 to €707,694
- Gross operating margin -€53,382
down €53,382 (-28.0%), from €190,592 to €137,210
- Turnover +€39,842
up €39,842 (+4.9%), from €805,062 to €844,904
- Financial income +€14,898
up €14,898 (+6,276%), from €237 to €15,135
- Staff costs +€14,583
up €14,583 (+19.0%), from €76,902 to €91,485
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €988,515 | €933,851 | -€54,664 | -5.5% |
| Formation expenses | 20 | €104,589 | €91,307 | -€13,281 | -12.7% |
| Fixed assets | 21/28 | €647,608 | €604,805 | -€42,803 | -6.6% |
| Tangible fixed assets | 22/27 | €646,771 | €603,969 | -€42,803 | -6.6% |
| Land and buildings | 22 | €418,801 | €405,151 | -€13,650 | -3.3% |
| Plant, machinery and equipment | 23 | €179,153 | €155,443 | -€23,710 | -13.2% |
| Furniture and vehicles | 24 | €44,863 | €40,265 | -€4,598 | -10.2% |
| Other tangible fixed assets | 26 | €3,955 | €3,110 | -€844 | -21.3% |
| Financial fixed assets | 28 | €836 | €836 | = | 0.0% |
| Current assets | 29/58 | €236,319 | €237,739 | +€1,420 | +0.6% |
| Stocks and contracts in progress | 3 | €49,412 | €29,385 | -€20,027 | -40.5% |
| Stocks | 30/36 | €49,412 | €29,385 | -€20,027 | -40.5% |
| Amounts receivable within one year | 40/41 | €107,560 | €76,938 | -€30,622 | -28.5% |
| Trade receivables | 40 | €107,557 | €76,834 | -€30,722 | -28.6% |
| Other amounts receivable | 41 | €3 | €104 | +€100 | +2,969% |
| Cash at bank and in hand | 54/58 | €71,588 | €123,335 | +€51,747 | +72.3% |
| Deferred charges and accrued income | 490/1 | €7,760 | €8,082 | +€322 | +4.2% |
| Total equity and liabilities | 10/49 | €988,515 | €933,851 | -€54,664 | -5.5% |
| Equity | 10/15 | €562,090 | €532,088 | -€30,002 | -5.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €494,440 | €464,438 | -€30,002 | -6.1% |
| Amounts payable | 17/49 | €426,425 | €401,763 | -€24,662 | -5.8% |
| Amounts payable after more than one year | 17 | €276,411 | €235,413 | -€40,999 | -14.8% |
| Financial debts | 170/4 | €276,411 | €235,413 | -€40,999 | -14.8% |
| Amounts payable within one year | 42/48 | €111,299 | €129,842 | +€18,542 | +16.7% |
| Current portion of amounts payable after more than one year | 42 | €41,556 | €41,622 | +€67 | +0.2% |
| Trade debts | 44 | €39,346 | €54,384 | +€15,038 | +38.2% |
| Suppliers | 440/4 | €39,346 | €54,384 | +€15,038 | +38.2% |
| Taxes, remuneration and social security | 45 | €24,498 | €29,171 | +€4,673 | +19.1% |
| Taxes | 450/3 | €17,886 | €18,898 | +€1,013 | +5.7% |
| Remuneration and social security | 454/9 | €6,612 | €10,273 | +€3,661 | +55.4% |
| Other amounts payable | 47/48 | €5,900 | €4,665 | -€1,236 | -20.9% |
| Accrued charges and deferred income | 492/3 | €38,714 | €36,509 | -€2,205 | -5.7% |
| Turnover | 70 | €805,062 | €844,904 | +€39,842 | +4.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €614,470 | €707,694 | +€93,224 | +15.2% |
| Remuneration, social security and pensions | 62 | €76,902 | €91,485 | +€14,583 | +19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,203 | €74,599 | +€4,396 | +6.3% |
| Other operating charges | 640/8 | €10,906 | €7,331 | -€3,574 | -32.8% |
| Gross operating margin | 9900 | €190,592 | €137,210 | -€53,382 | -28.0% |
| Operating profit (loss) | 9901 | €32,582 | -€36,205 | -€68,787 | |
| Financial income | 75/76B | €237 | €15,135 | +€14,898 | +6,276% |
| Recurring financial income | 75 | €237 | €15,135 | +€14,898 | +6,276% |
| Financial charges | 65/66B | €7,255 | €5,591 | -€1,665 | -22.9% |
| Recurring financial charges | 65 | €7,255 | €5,591 | -€1,665 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €25,564 | -€26,661 | -€52,225 | |
| Income taxes | 67/77 | €8,961 | €3,341 | -€5,619 | -62.7% |
| Profit (loss) for the period | 9904 | €16,604 | -€30,002 | -€46,606 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,604 | -€30,002 | -€46,606 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.