VERSTRAETEN-SYNDIC: 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-SYNDIC
Largest movements
- Cash +€214,923
up €214,923 (+111%), from €194,056 to €408,979
mainly Net result for the year (+€220,738) and Debts after one year (+€52,282)
- Tangible fixed assets +€67,028
up €67,028 (+10,506%), from €638 to €67,666
of which Furniture and vehicles: +€66,380
- Receivables within one year +€20,425
up €20,425 (+268%), from €7,617 to €28,042
of which Trade receivables: +€19,466
- Reserves +€220,738
up €220,738 (+162%), from €135,936 to €356,674
- Debts after one year +€52,282
new in 2025: €52,282
- Current portion of long-term debt +€13,919
new in 2025: €13,919
- Tax, wage and social debts +€10,015
up €10,015 (+17.0%), from €59,044 to €69,059
of which Taxes: +€13,586
- Trade debts +€6,892
up €6,892 (+344%), from €2,001 to €8,893
- Gross operating margin +€166,744
up €166,744 (+92.9%), from €179,575 to €346,319
- Taxes +€40,727
up €40,727 (+114%), from €35,848 to €76,575
- Depreciation +€7,872
up €7,872 (+6,055%), from €130 to €8,002
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 | €202,681 | €506,641 | +€303,960 | +150% |
| Fixed assets | 21/28 | €825 | €67,853 | +€67,028 | +8,125% |
| Tangible fixed assets | 22/27 | €638 | €67,666 | +€67,028 | +10,506% |
| Plant, machinery and equipment | 23 | €638 | €1,286 | +€648 | +102% |
| Furniture and vehicles | 24 | - | €66,380 | +€66,380 | |
| Financial fixed assets | 28 | €187 | €187 | = | 0.0% |
| Current assets | 29/58 | €201,856 | €438,788 | +€236,932 | +117% |
| Amounts receivable within one year | 40/41 | €7,617 | €28,042 | +€20,425 | +268% |
| Trade receivables | 40 | €7,496 | €26,962 | +€19,466 | +260% |
| Other amounts receivable | 41 | €121 | €1,080 | +€959 | +793% |
| Cash at bank and in hand | 54/58 | €194,056 | €408,979 | +€214,923 | +111% |
| Deferred charges and accrued income | 490/1 | €183 | €1,767 | +€1,584 | +866% |
| Total equity and liabilities | 10/49 | €202,681 | €506,641 | +€303,960 | +150% |
| Equity | 10/15 | €140,936 | €361,674 | +€220,738 | +157% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €135,936 | €356,674 | +€220,738 | +162% |
| Distributable reserves | 133 | €135,936 | €356,674 | +€220,738 | +162% |
| Amounts payable | 17/49 | €61,745 | €144,967 | +€83,222 | +135% |
| Amounts payable after more than one year | 17 | - | €52,282 | +€52,282 | |
| Financial debts | 170/4 | - | €52,282 | +€52,282 | |
| Amounts payable within one year | 42/48 | €61,745 | €92,685 | +€30,940 | +50.1% |
| Current portion of amounts payable after more than one year | 42 | - | €13,919 | +€13,919 | |
| Trade debts | 44 | €2,001 | €8,893 | +€6,892 | +344% |
| Suppliers | 440/4 | €2,001 | €8,893 | +€6,892 | +344% |
| Taxes, remuneration and social security | 45 | €59,044 | €69,059 | +€10,015 | +17.0% |
| Taxes | 450/3 | €48,124 | €61,710 | +€13,586 | +28.2% |
| Remuneration and social security | 454/9 | €10,920 | €7,349 | -€3,571 | -32.7% |
| Other amounts payable | 47/48 | €700 | €814 | +€114 | +16.3% |
| Remuneration, social security and pensions | 62 | €39,038 | €40,533 | +€1,495 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130 | €8,002 | +€7,872 | +6,055% |
| Other operating charges | 640/8 | €889 | €1,125 | +€236 | +26.5% |
| Gross operating margin | 9900 | €179,575 | €346,319 | +€166,744 | +92.9% |
| Operating profit (loss) | 9901 | €139,518 | €296,659 | +€157,141 | +113% |
| Financial income | 75/76B | €369 | €2,008 | +€1,639 | +444% |
| Recurring financial income | 75 | €369 | €2,008 | +€1,639 | +444% |
| Financial charges | 65/66B | €24 | €1,354 | +€1,330 | +5,542% |
| Recurring financial charges | 65 | €24 | €1,354 | +€1,330 | +5,542% |
| Profit (loss) for the period before taxes | 9903 | €139,863 | €297,313 | +€157,450 | +113% |
| Income taxes | 67/77 | €35,848 | €76,575 | +€40,727 | +114% |
| Profit (loss) for the period | 9904 | €104,015 | €220,738 | +€116,723 | +112% |
| Profit (loss) for the period to be appropriated | 9905 | €104,015 | €220,738 | +€116,723 | +112% |
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 30 October 2026 via checked.be.