VERVAEKE - VERBEKE: 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.
VERVAEKE - VERBEKE
Largest movements
- Receivables within one year +€44,106
up €44,106 (+14.3%), from €307,636 to €351,742
- Tangible fixed assets -€12,466
down €12,466 (-22.0%), from €56,789 to €44,323
of which Furniture and vehicles: -€8,200
- Profit (loss) carried forward +€33,567
new in 2025: €33,567
- Tax, wage and social debts +€8,246
up €8,246 (+62.6%), from €13,165 to €21,412
- Debts after one year -€8,193
down €8,193 (-33.2%), from €24,649 to €16,455
- Gross operating margin +€23,831
up €23,831 (+104%), from €22,959 to €46,790
- Depreciation +€6,475
up €6,475 (+108%), from €5,991 to €12,466
- Taxes +€6,022
up €6,022 (+74.4%), from €8,092 to €14,115
- Financial income +€3,834
up €3,834 (+27.3%), from €14,032 to €17,866
- Other operating charges +€1,950
up €1,950 (+200%), from €974 to €2,924
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 | €364,896 | €397,741 | +€32,844 | +9.0% |
| Fixed assets | 21/28 | €56,789 | €44,323 | -€12,466 | -22.0% |
| Tangible fixed assets | 22/27 | €56,789 | €44,323 | -€12,466 | -22.0% |
| Land and buildings | 22 | €16,250 | €13,249 | -€3,001 | -18.5% |
| Plant, machinery and equipment | 23 | €1,265 | - | -€1,265 | |
| Furniture and vehicles | 24 | €39,274 | €31,074 | -€8,200 | -20.9% |
| Current assets | 29/58 | €308,107 | €353,418 | +€45,311 | +14.7% |
| Amounts receivable within one year | 40/41 | €307,636 | €351,742 | +€44,106 | +14.3% |
| Other amounts receivable | 41 | €307,636 | €351,742 | +€44,106 | +14.3% |
| Cash at bank and in hand | 54/58 | €471 | €1,675 | +€1,204 | +256% |
| Total equity and liabilities | 10/49 | €364,896 | €397,741 | +€32,844 | +9.0% |
| Equity | 10/15 | €264,856 | €298,424 | +€33,567 | +12.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €258,656 | €258,656 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €256,797 | €256,797 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €33,567 | +€33,567 | |
| Provisions and deferred taxes | 16 | €10,000 | €10,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €10,000 | €10,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable | 17/49 | €90,040 | €89,317 | -€723 | -0.8% |
| Amounts payable after more than one year | 17 | €24,649 | €16,455 | -€8,193 | -33.2% |
| Financial debts | 170/4 | €24,649 | €16,455 | -€8,193 | -33.2% |
| Amounts payable within one year | 42/48 | €65,391 | €72,862 | +€7,471 | +11.4% |
| Current portion of amounts payable after more than one year | 42 | €8,474 | €8,495 | +€21 | +0.3% |
| Trade debts | 44 | €11,936 | €8,209 | -€3,727 | -31.2% |
| Suppliers | 440/4 | €11,936 | €8,209 | -€3,727 | -31.2% |
| Taxes, remuneration and social security | 45 | €13,165 | €21,412 | +€8,246 | +62.6% |
| Taxes | 450/3 | €13,165 | €21,412 | +€8,246 | +62.6% |
| Other amounts payable | 47/48 | €31,816 | €34,746 | +€2,930 | +9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,991 | €12,466 | +€6,475 | +108% |
| Other operating charges | 640/8 | €974 | €2,924 | +€1,950 | +200% |
| Gross operating margin | 9900 | €22,959 | €46,790 | +€23,831 | +104% |
| Operating profit (loss) | 9901 | €15,994 | €31,400 | +€15,407 | +96.3% |
| Financial income | 75/76B | €14,032 | €17,866 | +€3,834 | +27.3% |
| Recurring financial income | 75 | €14,032 | €17,866 | +€3,834 | +27.3% |
| Financial charges | 65/66B | €785 | €1,585 | +€800 | +102% |
| Recurring financial charges | 65 | €785 | €1,585 | +€800 | +102% |
| Profit (loss) for the period before taxes | 9903 | €29,240 | €47,682 | +€18,441 | +63.1% |
| Income taxes | 67/77 | €8,092 | €14,115 | +€6,022 | +74.4% |
| Profit (loss) for the period | 9904 | €21,148 | €33,567 | +€12,419 | +58.7% |
| Profit (loss) for the period to be appropriated | 9905 | €21,148 | €33,567 | +€12,419 | +58.7% |
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 15 October 2026 via checked.be.