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
- Tangible fixed assets +€3,306
up €3,306 (+98.4%), from €3,360 to €6,666
of which Plant, machinery and equipment: +€4,152
- Stocks and contracts -€2,078
down €2,078 (-17.3%), from €12,003 to €9,925
- Cash -€1,080
down €1,080 (-3.7%), from €29,069 to €27,990
mainly Other debts (-€4,901) and Investment in fixed assets (net) (-€4,790)
- Receivables within one year -€870
down €870 (-40.2%), from €2,164 to €1,294
of which Trade receivables: -€1,316
- Other debts -€4,901
no longer reported in 2025 (was €4,901)
- Profit (loss) carried forward +€3,006
up €3,006 (+90.0%), from -€3,342 to -€335
- Tax, wage and social debts +€1,740
up €1,740 (+135%), from €1,289 to €3,028
of which Remuneration and social security: +€1,027
- Trade debts -€1,469
down €1,469 (-9.7%), from €15,218 to €13,748
- Accrued charges and deferred income +€549
up €549 (+32.6%), from €1,682 to €2,232
- Gross operating margin -€7,986
down €7,986 (-21.4%), from €37,246 to €29,260
- Staff costs +€1,377
up €1,377 (+8.4%), from €16,369 to €17,746
- Depreciation +€1,003
up €1,003 (+116%), from €862 to €1,864
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 | €50,938 | €49,863 | -€1,075 | -2.1% |
| Fixed assets | 21/28 | €3,931 | €6,857 | +€2,926 | +74.4% |
| Intangible fixed assets | 21 | €572 | €192 | -€380 | -66.5% |
| Tangible fixed assets | 22/27 | €3,360 | €6,666 | +€3,306 | +98.4% |
| Plant, machinery and equipment | 23 | - | €4,152 | +€4,152 | |
| Furniture and vehicles | 24 | €3,360 | €2,513 | -€846 | -25.2% |
| Current assets | 29/58 | €47,007 | €43,006 | -€4,001 | -8.5% |
| Stocks and contracts in progress | 3 | €12,003 | €9,925 | -€2,078 | -17.3% |
| Stocks | 30/36 | €12,003 | €9,925 | -€2,078 | -17.3% |
| Amounts receivable within one year | 40/41 | €2,164 | €1,294 | -€870 | -40.2% |
| Trade receivables | 40 | €2,117 | €801 | -€1,316 | -62.2% |
| Other amounts receivable | 41 | €47 | €493 | +€447 | +958% |
| Cash at bank and in hand | 54/58 | €29,069 | €27,990 | -€1,080 | -3.7% |
| Deferred charges and accrued income | 490/1 | €3,771 | €3,797 | +€27 | +0.7% |
| Total equity and liabilities | 10/49 | €50,938 | €49,863 | -€1,075 | -2.1% |
| Equity | 10/15 | €27,848 | €30,855 | +€3,006 | +10.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €24,990 | €24,990 | = | 0.0% |
| Distributable reserves | 133 | €24,990 | €24,990 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,342 | -€335 | +€3,006 | +90.0% |
| Amounts payable | 17/49 | €23,090 | €19,009 | -€4,081 | -17.7% |
| Amounts payable within one year | 42/48 | €21,407 | €16,777 | -€4,630 | -21.6% |
| Trade debts | 44 | €15,218 | €13,748 | -€1,469 | -9.7% |
| Suppliers | 440/4 | €15,218 | €13,748 | -€1,469 | -9.7% |
| Taxes, remuneration and social security | 45 | €1,289 | €3,028 | +€1,740 | +135% |
| Taxes | 450/3 | €1,289 | €2,002 | +€713 | +55.3% |
| Remuneration and social security | 454/9 | - | €1,027 | +€1,027 | |
| Other amounts payable | 47/48 | €4,901 | - | -€4,901 | |
| Accrued charges and deferred income | 492/3 | €1,682 | €2,232 | +€549 | +32.6% |
| Remuneration, social security and pensions | 62 | €16,369 | €17,746 | +€1,377 | +8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €862 | €1,864 | +€1,003 | +116% |
| Other operating charges | 640/8 | €722 | €770 | +€48 | +6.7% |
| Gross operating margin | 9900 | €37,246 | €29,260 | -€7,986 | -21.4% |
| Operating profit (loss) | 9901 | €19,295 | €8,880 | -€10,414 | -54.0% |
| Financial income | 75/76B | €144 | €53 | -€92 | -63.4% |
| Recurring financial income | 75 | €144 | €53 | -€92 | -63.4% |
| Financial charges | 65/66B | €5,675 | €5,927 | +€252 | +4.4% |
| Recurring financial charges | 65 | €5,675 | €5,927 | +€252 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | €13,764 | €3,006 | -€10,758 | -78.2% |
| Profit (loss) for the period | 9904 | €13,764 | €3,006 | -€10,758 | -78.2% |
| Profit (loss) for the period to be appropriated | 9905 | €13,764 | €3,006 | -€10,758 | -78.2% |
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 24 October 2026 via checked.be.