VERSTRAETE PETER: 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 PETER
Largest movements
- Tangible fixed assets +€199,639
up €199,639 (+145%), from €137,718 to €337,357
of which Land and buildings: +€208,537
- Cash +€71,472
up €71,472 (+10.3%), from €695,836 to €767,308
mainly Net result for the year (+€304,536) and Other debts (+€68,723)
- Receivables within one year +€12,752
up €12,752 (+64.8%), from €19,688 to €32,440
of which Trade receivables: +€15,930
- Reserves +€188,536
up €188,536 (+24.3%), from €775,559 to €964,096
of which Distributable reserves: +€188,536
- Other debts +€68,723
up €68,723 (+128%), from €53,896 to €122,619
- Tax, wage and social debts +€28,538
up €28,538 (+540%), from €5,287 to €33,825
of which Taxes: +€26,774
- Gross operating margin +€294,557
up €294,557 (+169%), from €174,629 to €469,185
- Taxes +€99,440
up €99,440 (+255%), from €39,027 to €138,467
- Depreciation -€8,904
down €8,904 (-29.0%), from €30,690 to €21,785
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 | €864,634 | €1,149,297 | +€284,663 | +32.9% |
| Fixed assets | 21/28 | €137,718 | €337,357 | +€199,639 | +145% |
| Tangible fixed assets | 22/27 | €137,718 | €337,357 | +€199,639 | +145% |
| Land and buildings | 22 | €116,994 | €325,531 | +€208,537 | +178% |
| Plant, machinery and equipment | 23 | €6,482 | €8,955 | +€2,473 | +38.2% |
| Furniture and vehicles | 24 | €14,242 | €2,870 | -€11,372 | -79.8% |
| Current assets | 29/58 | €726,916 | €811,940 | +€85,025 | +11.7% |
| Stocks and contracts in progress | 3 | €1,750 | €1,750 | = | 0.0% |
| Stocks | 30/36 | €1,750 | €1,750 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €19,688 | €32,440 | +€12,752 | +64.8% |
| Trade receivables | 40 | €8,576 | €24,507 | +€15,930 | +186% |
| Other amounts receivable | 41 | €11,112 | €7,933 | -€3,178 | -28.6% |
| Cash at bank and in hand | 54/58 | €695,836 | €767,308 | +€71,472 | +10.3% |
| Deferred charges and accrued income | 490/1 | €9,642 | €10,442 | +€800 | +8.3% |
| Total equity and liabilities | 10/49 | €864,634 | €1,149,297 | +€284,663 | +32.9% |
| Equity | 10/15 | €794,559 | €983,096 | +€188,536 | +23.7% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €775,559 | €964,096 | +€188,536 | +24.3% |
| Tax-exempt reserves | 132 | €60,227 | €60,227 | = | 0.0% |
| Distributable reserves | 133 | €715,332 | €903,868 | +€188,536 | +26.4% |
| Amounts payable | 17/49 | €70,074 | €166,201 | +€96,127 | +137% |
| Amounts payable within one year | 42/48 | €68,454 | €166,201 | +€97,747 | +143% |
| Trade debts | 44 | €9,271 | €9,758 | +€486 | +5.2% |
| Suppliers | 440/4 | €9,271 | €9,758 | +€486 | +5.2% |
| Taxes, remuneration and social security | 45 | €5,287 | €33,825 | +€28,538 | +540% |
| Taxes | 450/3 | €2,245 | €29,019 | +€26,774 | +1,193% |
| Remuneration and social security | 454/9 | €3,042 | €4,805 | +€1,763 | +58.0% |
| Other amounts payable | 47/48 | €53,896 | €122,619 | +€68,723 | +128% |
| Accrued charges and deferred income | 492/3 | €1,620 | - | -€1,620 | |
| Remuneration, social security and pensions | 62 | - | €1,444 | +€1,444 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,690 | €21,785 | -€8,904 | -29.0% |
| Other operating charges | 640/8 | €1,752 | €1,752 | +€1 | 0.0% |
| Gross operating margin | 9900 | €174,629 | €469,185 | +€294,557 | +169% |
| Operating profit (loss) | 9901 | €142,187 | €444,204 | +€302,017 | +212% |
| Financial income | 75/76B | €720 | €1,805 | +€1,085 | +151% |
| Recurring financial income | 75 | €720 | €1,805 | +€1,085 | +151% |
| Financial charges | 65/66B | €6,483 | €3,006 | -€3,478 | -53.6% |
| Recurring financial charges | 65 | €6,483 | €3,006 | -€3,478 | -53.6% |
| Profit (loss) for the period before taxes | 9903 | €136,424 | €443,003 | +€306,580 | +225% |
| Income taxes | 67/77 | €39,027 | €138,467 | +€99,440 | +255% |
| Profit (loss) for the period | 9904 | €97,397 | €304,536 | +€207,140 | +213% |
| Profit (loss) for the period to be appropriated | 9905 | €97,397 | €304,536 | +€207,140 | +213% |
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 20 October 2026 via checked.be.