Verstraete Projects: 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 Projects
Largest movements
- Receivables within one year +€23,333
up €23,333 (+124%), from €18,750 to €42,083
of which Trade receivables: +€17,116
- Tangible fixed assets -€18,807
down €18,807 (-2.8%), from €663,160 to €644,353
of which Land and buildings: -€12,816
- Profit (loss) carried forward -€155,569
down €155,569 (-57.2%), from €272,030 to €116,461
- Debts after one year +€111,607
up €111,607 (+35.4%), from €315,538 to €427,145
- Current portion of long-term debt +€29,012
up €29,012 (+108%), from €26,974 to €55,987
- Tax, wage and social debts +€21,777
up €21,777 (+114%), from €19,127 to €40,905
- Gross operating margin -€28,366
down €28,366 (-27.7%), from €102,402 to €74,037
- Financial charges -€2,151
down €2,151 (-15.1%), from €14,253 to €12,102
- Depreciation +€1,116
up €1,116 (+4.5%), from €24,848 to €25,965
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 | €695,672 | €700,941 | +€5,269 | +0.8% |
| Fixed assets | 21/28 | €663,160 | €644,353 | -€18,807 | -2.8% |
| Tangible fixed assets | 22/27 | €663,160 | €644,353 | -€18,807 | -2.8% |
| Land and buildings | 22 | €642,757 | €629,941 | -€12,816 | -2.0% |
| Plant, machinery and equipment | 23 | €626 | €18 | -€608 | -97.1% |
| Furniture and vehicles | 24 | €17,727 | €12,344 | -€5,383 | -30.4% |
| Other tangible fixed assets | 26 | €2,050 | €2,050 | = | 0.0% |
| Current assets | 29/58 | €32,512 | €56,588 | +€24,075 | +74.1% |
| Amounts receivable within one year | 40/41 | €18,750 | €42,083 | +€23,333 | +124% |
| Trade receivables | 40 | €7,024 | €24,140 | +€17,116 | +244% |
| Other amounts receivable | 41 | €11,727 | €17,944 | +€6,217 | +53.0% |
| Cash at bank and in hand | 54/58 | €12,383 | €14,199 | +€1,816 | +14.7% |
| Deferred charges and accrued income | 490/1 | €1,379 | €306 | -€1,073 | -77.8% |
| Total equity and liabilities | 10/49 | €695,672 | €700,941 | +€5,269 | +0.8% |
| Equity | 10/15 | €327,030 | €171,461 | -€155,569 | -47.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €272,030 | €116,461 | -€155,569 | -57.2% |
| Amounts payable | 17/49 | €368,642 | €529,480 | +€160,838 | +43.6% |
| Amounts payable after more than one year | 17 | €315,538 | €427,145 | +€111,607 | +35.4% |
| Financial debts | 170/4 | €315,538 | €427,145 | +€111,607 | +35.4% |
| Amounts payable within one year | 42/48 | €53,104 | €97,335 | +€44,231 | +83.3% |
| Current portion of amounts payable after more than one year | 42 | €26,974 | €55,987 | +€29,012 | +108% |
| Trade debts | 44 | €7,002 | €444 | -€6,558 | -93.7% |
| Suppliers | 440/4 | €7,002 | €444 | -€6,558 | -93.7% |
| Taxes, remuneration and social security | 45 | €19,127 | €40,905 | +€21,777 | +114% |
| Taxes | 450/3 | €19,127 | €40,905 | +€21,777 | +114% |
| Accrued charges and deferred income | 492/3 | - | €5,000 | +€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,848 | €25,965 | +€1,116 | +4.5% |
| Other operating charges | 640/8 | €2,842 | €2,116 | -€726 | -25.5% |
| Gross operating margin | 9900 | €102,402 | €74,037 | -€28,366 | -27.7% |
| Operating profit (loss) | 9901 | €74,712 | €45,956 | -€28,756 | -38.5% |
| Financial income | 75/76B | €411 | €675 | +€264 | +64.2% |
| Recurring financial income | 75 | €411 | €675 | +€264 | +64.2% |
| Financial charges | 65/66B | €14,253 | €12,102 | -€2,151 | -15.1% |
| Recurring financial charges | 65 | €14,253 | €12,102 | -€2,151 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €60,870 | €34,529 | -€26,341 | -43.3% |
| Income taxes | 67/77 | €14,104 | €13,627 | -€477 | -3.4% |
| Profit (loss) for the period | 9904 | €46,766 | €20,902 | -€25,864 | -55.3% |
| Profit (loss) for the period to be appropriated | 9905 | €46,766 | €20,902 | -€25,864 | -55.3% |
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 16 October 2026 via checked.be.