Verstraeten Luc: 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.
Verstraeten Luc
Largest movements
- Receivables within one year -€329,548
no longer reported in 2025 (was €329,548)
- Current investments +€257,500
up €257,500 (+85.8%), from €300,000 to €557,500
- Cash +€50,394
up €50,394 (+243%), from €20,698 to €71,092
mainly Receivables within one year (+€329,548) and Net result for the year (+€13,026)
- Current portion of long-term debt -€28,549
no longer reported in 2025 (was €28,549)
- Reserves +€13,026
up €13,026 (+10.8%), from €121,129 to €134,154
of which Distributable reserves: +€13,026
- Trade debts -€9,773
down €9,773 (-94.6%), from €10,327 to €554
- Gross operating margin -€104,625
down €104,625 (-89.3%), from €117,193 to €12,568
- Taxes -€13,050
down €13,050 (-69.9%), from €18,680 to €5,631
- Financial income +€7,833
new in 2025: €7,833
- Other operating charges -€5,104
no longer reported in 2025 (was €5,104)
- Financial charges -€2,395
down €2,395 (-63.0%), from €3,799 to €1,404
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 | €656,085 | €634,090 | -€21,995 | -3.4% |
| Fixed assets | 21/28 | €5,839 | €5,497 | -€341 | -5.8% |
| Tangible fixed assets | 22/27 | €5,839 | €5,497 | -€341 | -5.8% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €5,839 | €5,497 | -€341 | -5.8% |
| Current assets | 29/58 | €650,246 | €628,592 | -€21,654 | -3.3% |
| Amounts receivable within one year | 40/41 | €329,548 | - | -€329,548 | |
| Trade receivables | 40 | €329,548 | - | -€329,548 | |
| Current investments | 50/53 | €300,000 | €557,500 | +€257,500 | +85.8% |
| Cash at bank and in hand | 54/58 | €20,698 | €71,092 | +€50,394 | +243% |
| Total equity and liabilities | 10/49 | €656,085 | €634,090 | -€21,995 | -3.4% |
| Equity | 10/15 | €595,481 | €608,507 | +€13,026 | +2.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €121,129 | €134,154 | +€13,026 | +10.8% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €102,379 | €115,404 | +€13,026 | +12.7% |
| Profit (loss) carried forward | 14 | €468,152 | €468,152 | = | 0.0% |
| Amounts payable | 17/49 | €60,604 | €25,583 | -€35,021 | -57.8% |
| Amounts payable within one year | 42/48 | €57,433 | €18,201 | -€39,232 | -68.3% |
| Current portion of amounts payable after more than one year | 42 | €28,549 | - | -€28,549 | |
| Trade debts | 44 | €10,327 | €554 | -€9,773 | -94.6% |
| Suppliers | 440/4 | €10,327 | €554 | -€9,773 | -94.6% |
| Taxes, remuneration and social security | 45 | €8,680 | €3,281 | -€5,400 | -62.2% |
| Taxes | 450/3 | €8,680 | €3,281 | -€5,400 | -62.2% |
| Other amounts payable | 47/48 | €9,876 | €14,366 | +€4,489 | +45.5% |
| Accrued charges and deferred income | 492/3 | €3,171 | €7,382 | +€4,211 | +133% |
| Non-recurring operating income | 76A | €118,424 | - | -€118,424 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €341 | €341 | = | 0.0% |
| Other operating charges | 640/8 | €5,104 | - | -€5,104 | |
| Gross operating margin | 9900 | €117,193 | €12,568 | -€104,625 | -89.3% |
| Operating profit (loss) | 9901 | €111,748 | €12,227 | -€99,521 | -89.1% |
| Financial income | 75/76B | - | €7,833 | +€7,833 | |
| Recurring financial income | 75 | - | €7,833 | +€7,833 | |
| Financial charges | 65/66B | €3,799 | €1,404 | -€2,395 | -63.0% |
| Recurring financial charges | 65 | €3,799 | €1,404 | -€2,395 | -63.0% |
| Profit (loss) for the period before taxes | 9903 | €107,949 | €18,656 | -€89,293 | -82.7% |
| Income taxes | 67/77 | €18,680 | €5,631 | -€13,050 | -69.9% |
| Profit (loss) for the period | 9904 | €89,269 | €13,026 | -€76,243 | -85.4% |
| Profit (loss) for the period to be appropriated | 9905 | €89,269 | €13,026 | -€76,243 | -85.4% |
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 1 November 2026 via checked.be.