VERSTRAETE-VANDERSTEEN: what changed
What changed
VERSTRAETE-VANDERSTEEN
filed annual accounts (NBB)
Net result for the year
€559,710
2024 · €478,029+€81,681
Equity
€77,304
2024 · €77,304
Cash
€277,722
2024 · €97,921+€179,801
Balance sheet total
€812,061
2024 · €512,351+€299,710
Largest movements
Assets
- Cash +€179,801
up €179,801 (+184%), from €97,921 to €277,722
mainly Net result for the year (+€559,710) and Other debts (+€320,319)
- Tangible fixed assets +€79,898
up €79,898 (+368%), from €21,720 to €101,617
of which Furniture and vehicles: +€54,334
- Receivables within one year +€40,011
up €40,011 (+12.7%), from €314,948 to €354,959
Equity and liabilities
- Other debts +€320,319
up €320,319 (+87.3%), from €366,910 to €687,229
- Tax, wage and social debts -€17,008
down €17,008 (-27.3%), from €62,408 to €45,400
Income statement
- Gross operating margin +€220,507
up €220,507 (+34.4%), from €641,685 to €862,192
- Financial charges +€108,950
up €108,950 (+61,205%), from €178 to €109,128
- Taxes +€20,805
up €20,805 (+13.0%), from €159,673 to €180,478
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€478,029
Gross operating margin
+€220,507
Depreciation
-€4,740
Other operating charges
-€39
Financial income
-€4,291
Financial charges
-€108,950
Taxes
-€20,805
Result 2025
€559,710
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€832,299
Investment
-€92,824
Financing
-€559,674
Cash 2024
€97,921
From operations (derived)
+€832,299
Net result for the year
+€559,710
Depreciation
+€12,926
Receivables within one year
-€40,011
Trade debts
-€3,637
Tax, wage and social debts
-€17,008
Other debts
+€320,319
Investment (derived)
-€92,824
Investment in fixed assets (net)
-€92,824
Financing
-€559,674
Short-term financial debts
+€36
Contributions, distributions and other
-€559,710
Cash 2025
€277,722
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €512,351 | €812,061 | +€299,710 | +58.5% |
| Fixed assets | 21/28 | €22,614 | €102,512 | +€79,898 | +353% |
| Tangible fixed assets | 22/27 | €21,720 | €101,617 | +€79,898 | +368% |
| Plant, machinery and equipment | 23 | €1,109 | €26,673 | +€25,564 | +2,304% |
| Furniture and vehicles | 24 | €20,610 | €74,944 | +€54,334 | +264% |
| Financial fixed assets | 28 | €895 | €895 | = | 0.0% |
| Current assets | 29/58 | €489,737 | €709,549 | +€219,812 | +44.9% |
| Amounts receivable within one year | 40/41 | €314,948 | €354,959 | +€40,011 | +12.7% |
| Other amounts receivable | 41 | €314,948 | €354,959 | +€40,011 | +12.7% |
| Current investments | 50/53 | €73,000 | €73,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €97,921 | €277,722 | +€179,801 | +184% |
| Deferred charges and accrued income | 490/1 | €3,867 | €3,867 | = | 0.0% |
| Total equity and liabilities | 10/49 | €512,351 | €812,061 | +€299,710 | +58.5% |
| Equity | 10/15 | €77,304 | €77,304 | = | 0.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €67,304 | €67,304 | = | 0.0% |
| Distributable reserves | 133 | €67,304 | €67,304 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €435,046 | €734,756 | +€299,710 | +68.9% |
| Amounts payable within one year | 42/48 | €435,046 | €734,756 | +€299,710 | +68.9% |
| Financial debts | 43 | €108 | €144 | +€36 | +33.9% |
| Credit institutions | 430/8 | €108 | €144 | +€36 | +33.9% |
| Trade debts | 44 | €5,621 | €1,984 | -€3,637 | -64.7% |
| Suppliers | 440/4 | €5,621 | €1,984 | -€3,637 | -64.7% |
| Taxes, remuneration and social security | 45 | €62,408 | €45,400 | -€17,008 | -27.3% |
| Taxes | 450/3 | €62,408 | €45,400 | -€17,008 | -27.3% |
| Other amounts payable | 47/48 | €366,910 | €687,229 | +€320,319 | +87.3% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,186 | €12,926 | +€4,740 | +57.9% |
| Other operating charges | 640/8 | €1,503 | €1,542 | +€39 | +2.6% |
| Gross operating margin | 9900 | €641,685 | €862,192 | +€220,507 | +34.4% |
| Operating profit (loss) | 9901 | €631,996 | €847,723 | +€215,727 | +34.1% |
| Financial income | 75/76B | €5,884 | €1,593 | -€4,291 | -72.9% |
| Recurring financial income | 75 | €5,884 | €1,593 | -€4,291 | -72.9% |
| Financial charges | 65/66B | €178 | €109,128 | +€108,950 | +61,205% |
| Recurring financial charges | 65 | €178 | €109,128 | +€108,950 | +61,205% |
| Profit (loss) for the period before taxes | 9903 | €637,702 | €740,188 | +€102,486 | +16.1% |
| Income taxes | 67/77 | €159,673 | €180,478 | +€20,805 | +13.0% |
| Profit (loss) for the period | 9904 | €478,029 | €559,710 | +€81,681 | +17.1% |
| Profit (loss) for the period to be appropriated | 9905 | €478,029 | €559,710 | +€81,681 | +17.1% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.