VERSTRAETE KOEN: 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 KOEN
Largest movements
- Receivables within one year -€52,465
down €52,465 (-99.9%), from €52,510 to €45
- Current investments -€14,642
down €14,642 (-41.5%), from €35,247 to €20,605
- Tangible fixed assets -€8,155
down €8,155 (-5.4%), from €151,367 to €143,212
of which Land and buildings: -€11,032
- Cash +€7,322
up €7,322 (+19.1%), from €38,364 to €45,686
mainly Receivables within one year (+€52,465) and Net result for the year (+€18,580)
- Reserves -€74,802
down €74,802 (-76.7%), from €97,529 to €22,726
of which Distributable reserves: -€74,802
- Tax, wage and social debts +€4,906
up €4,906 (+1,448%), from €339 to €5,245
- Gross operating margin +€11,959
up €11,959 (+119%), from €10,065 to €22,024
- Financial income +€7,922
up €7,922 (+92.6%), from €8,554 to €16,476
- Taxes +€5,168
up €5,168 (+1,202%), from €430 to €5,597
- Financial charges -€2,244
down €2,244 (-69.1%), from €3,245 to €1,002
- Depreciation +€602
up €602 (+5.5%), from €11,032 to €11,634
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €281,048 | €210,761 | -€70,287 | -25.0% |
| Fixed assets | 21/28 | €151,367 | €143,212 | -€8,155 | -5.4% |
| Tangible fixed assets | 22/27 | €151,367 | €143,212 | -€8,155 | -5.4% |
| Land and buildings | 22 | €151,367 | €140,335 | -€11,032 | -7.3% |
| Furniture and vehicles | 24 | - | €2,878 | +€2,878 | |
| Current assets | 29/58 | €129,681 | €67,549 | -€62,132 | -47.9% |
| Amounts receivable within one year | 40/41 | €52,510 | €45 | -€52,465 | -99.9% |
| Other amounts receivable | 41 | €52,510 | €45 | -€52,465 | -99.9% |
| Current investments | 50/53 | €35,247 | €20,605 | -€14,642 | -41.5% |
| Cash at bank and in hand | 54/58 | €38,364 | €45,686 | +€7,322 | +19.1% |
| Deferred charges and accrued income | 490/1 | €3,560 | €1,213 | -€2,347 | -65.9% |
| Total equity and liabilities | 10/49 | €281,048 | €210,761 | -€70,287 | -25.0% |
| Equity | 10/15 | €267,545 | €192,742 | -€74,802 | -28.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €97,529 | €22,726 | -€74,802 | -76.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €95,669 | €20,866 | -€74,802 | -78.2% |
| Profit (loss) carried forward | 14 | €151,416 | €151,416 | = | 0.0% |
| Provisions and deferred taxes | 16 | €4,350 | €4,350 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €4,350 | €4,350 | = | 0.0% |
| Pensions and similar obligations | 160 | €4,350 | €4,350 | = | 0.0% |
| Amounts payable | 17/49 | €9,153 | €13,669 | +€4,515 | +49.3% |
| Amounts payable within one year | 42/48 | €6,347 | €10,896 | +€4,549 | +71.7% |
| Trade debts | 44 | €14 | - | -€14 | |
| Suppliers | 440/4 | €14 | - | -€14 | |
| Taxes, remuneration and social security | 45 | €339 | €5,245 | +€4,906 | +1,448% |
| Taxes | 450/3 | €339 | €5,245 | +€4,906 | +1,448% |
| Other amounts payable | 47/48 | €5,995 | €5,651 | -€343 | -5.7% |
| Accrued charges and deferred income | 492/3 | €2,806 | €2,773 | -€34 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,032 | €11,634 | +€602 | +5.5% |
| Other operating charges | 640/8 | €1,625 | €1,687 | +€62 | +3.8% |
| Gross operating margin | 9900 | €10,065 | €22,024 | +€11,959 | +119% |
| Operating profit (loss) | 9901 | -€2,592 | €8,702 | +€11,295 | |
| Financial income | 75/76B | €8,554 | €16,476 | +€7,922 | +92.6% |
| Recurring financial income | 75 | €8,554 | €16,476 | +€7,922 | +92.6% |
| Financial charges | 65/66B | €3,245 | €1,002 | -€2,244 | -69.1% |
| Recurring financial charges | 65 | €3,245 | €1,002 | -€2,244 | -69.1% |
| Profit (loss) for the period before taxes | 9903 | €2,716 | €24,177 | +€21,461 | +790% |
| Income taxes | 67/77 | €430 | €5,597 | +€5,168 | +1,202% |
| Profit (loss) for the period | 9904 | €2,287 | €18,580 | +€16,293 | +713% |
| Profit (loss) for the period to be appropriated | 9905 | €2,287 | €18,580 | +€16,293 | +713% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.