VERSTRAETE-COOL: 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-COOL
Largest movements
- Current investments +€146,492
up €146,492 (+17.1%), from €858,574 to €1.0m
- Tangible fixed assets -€61,508
down €61,508 (-35.3%), from €174,370 to €112,862
of which Furniture and vehicles: -€43,998
- Cash -€28,027
down €28,027 (-15.5%), from €180,840 to €152,813
mainly Current investments (-€146,492) and Other debts (-€27,731)
- Reserves +€58,073
up €58,073 (+5.7%), from €1.0m to €1.1m
of which Distributable reserves: +€128,384
- Other debts -€27,731
down €27,731 (-18.1%), from €152,840 to €125,109
- Tax, wage and social debts +€25,917
up €25,917 (+105%), from €24,621 to €50,538
of which Taxes: +€45,389
- Trade debts -€20,604
down €20,604 (-100%), from €20,604 to €0
- Gross operating margin -€295,377
down €295,377 (-69.2%), from €427,124 to €131,747
- Staff costs -€99,644
down €99,644 (-81.3%), from €122,508 to €22,864
- Financial income +€42,210
up €42,210 (+276%), from €15,278 to €57,488
- Depreciation -€16,343
down €16,343 (-31.2%), from €52,352 to €36,009
- Taxes -€13,132
down €13,132 (-17.0%), from €77,038 to €63,905
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 | €1,229,750 | €1,274,446 | +€44,696 | +3.6% |
| Fixed assets | 21/28 | €174,370 | €112,862 | -€61,508 | -35.3% |
| Tangible fixed assets | 22/27 | €174,370 | €112,862 | -€61,508 | -35.3% |
| Plant, machinery and equipment | 23 | €20,266 | €2,756 | -€17,510 | -86.4% |
| Furniture and vehicles | 24 | €154,103 | €110,106 | -€43,998 | -28.6% |
| Current assets | 29/58 | €1,055,380 | €1,161,584 | +€106,203 | +10.1% |
| Stocks and contracts in progress | 3 | €11,442 | €0 | -€11,442 | -100% |
| Stocks | 30/36 | €11,442 | €0 | -€11,442 | -100% |
| Amounts receivable within one year | 40/41 | €2,478 | €2,552 | +€75 | +3.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €2,478 | €2,552 | +€75 | +3.0% |
| Current investments | 50/53 | €858,574 | €1,005,065 | +€146,492 | +17.1% |
| Cash at bank and in hand | 54/58 | €180,840 | €152,813 | -€28,027 | -15.5% |
| Deferred charges and accrued income | 490/1 | €2,047 | €1,153 | -€894 | -43.7% |
| Total equity and liabilities | 10/49 | €1,229,750 | €1,274,446 | +€44,696 | +3.6% |
| Equity | 10/15 | €1,031,162 | €1,089,235 | +€58,073 | +5.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,012,562 | €1,070,635 | +€58,073 | +5.7% |
| Tax-exempt reserves | 132 | €254,705 | €184,394 | -€70,311 | -27.6% |
| Distributable reserves | 133 | €757,857 | €886,241 | +€128,384 | +16.9% |
| Amounts payable | 17/49 | €198,589 | €185,211 | -€13,378 | -6.7% |
| Amounts payable after more than one year | 17 | €524 | €0 | -€524 | -100% |
| Advances received on contracts in progress | 176 | €524 | €0 | -€524 | -100% |
| Amounts payable within one year | 42/48 | €198,064 | €175,647 | -€22,418 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €20,604 | €0 | -€20,604 | -100% |
| Suppliers | 440/4 | €20,604 | €0 | -€20,604 | -100% |
| Taxes, remuneration and social security | 45 | €24,621 | €50,538 | +€25,917 | +105% |
| Taxes | 450/3 | €2,075 | €47,464 | +€45,389 | +2,187% |
| Remuneration and social security | 454/9 | €22,545 | €3,074 | -€19,472 | -86.4% |
| Other amounts payable | 47/48 | €152,840 | €125,109 | -€27,731 | -18.1% |
| Accrued charges and deferred income | 492/3 | €0 | €9,564 | +€9,564 | |
| Non-recurring operating income | 76A | €8,661 | €39,925 | +€31,264 | +361% |
| Remuneration, social security and pensions | 62 | €122,508 | €22,864 | -€99,644 | -81.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,352 | €36,009 | -€16,343 | -31.2% |
| Other operating charges | 640/8 | €4,312 | €3,245 | -€1,067 | -24.7% |
| Gross operating margin | 9900 | €427,124 | €131,747 | -€295,377 | -69.2% |
| Operating profit (loss) | 9901 | €247,953 | €69,629 | -€178,323 | -71.9% |
| Financial income | 75/76B | €15,278 | €57,488 | +€42,210 | +276% |
| Recurring financial income | 75 | €15,278 | €57,488 | +€42,210 | +276% |
| Financial charges | 65/66B | €13,646 | €5,139 | -€8,508 | -62.3% |
| Recurring financial charges | 65 | €13,646 | €5,139 | -€8,508 | -62.3% |
| Profit (loss) for the period before taxes | 9903 | €249,585 | €121,979 | -€127,606 | -51.1% |
| Income taxes | 67/77 | €77,038 | €63,905 | -€13,132 | -17.0% |
| Profit (loss) for the period | 9904 | €172,547 | €58,073 | -€114,474 | -66.3% |
| Transfer from tax-exempt reserves | 789 | €0 | €70,311 | +€70,311 | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €172,547 | €128,384 | -€44,163 | -25.6% |
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 18 October 2026 via checked.be.