VERZELEN KOEN: 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.
VERZELEN KOEN
Largest movements
- Receivables within one year +€4,663
up €4,663 (+4.7%), from €98,498 to €103,161
- Tangible fixed assets -€3,916
down €3,916 (-10.1%), from €38,783 to €34,867
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€1,351
up €1,351 (+19.0%), from €7,124 to €8,475
- Taxes +€443
new in 2025: €443
- Financial charges -€207
no longer reported in 2025 (was €207)
- Other operating charges +€94
up €94 (+3.3%), from €2,811 to €2,905
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €137,281 | €138,028 | +€747 | +0.5% |
| Fixed assets | 21/28 | €38,783 | €34,867 | -€3,916 | -10.1% |
| Tangible fixed assets | 22/27 | €38,783 | €34,867 | -€3,916 | -10.1% |
| Land and buildings | 22 | €38,783 | €34,867 | -€3,916 | -10.1% |
| Current assets | 29/58 | €98,498 | €103,161 | +€4,663 | +4.7% |
| Amounts receivable within one year | 40/41 | €98,498 | €103,161 | +€4,663 | +4.7% |
| Other amounts receivable | 41 | €98,498 | €103,161 | +€4,663 | +4.7% |
| Total equity and liabilities | 10/49 | €137,281 | €138,028 | +€747 | +0.5% |
| Equity | 10/15 | €133,880 | €135,091 | +€1,210 | +0.9% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €105,449 | €105,449 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,479 | €2,479 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,720 | €1,720 | = | 0.0% |
| Distributable reserves | 133 | €101,250 | €101,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,642 | €4,853 | +€1,210 | +33.2% |
| Amounts payable | 17/49 | €3,400 | €2,937 | -€464 | -13.6% |
| Amounts payable within one year | 42/48 | €3,400 | €2,937 | -€464 | -13.6% |
| Trade debts | 44 | €3,400 | €2,493 | -€907 | -26.7% |
| Suppliers | 440/4 | €3,400 | €2,493 | -€907 | -26.7% |
| Taxes, remuneration and social security | 45 | - | €443 | +€443 | |
| Taxes | 450/3 | - | €443 | +€443 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,916 | €3,916 | = | 0.0% |
| Other operating charges | 640/8 | €2,811 | €2,905 | +€94 | +3.3% |
| Gross operating margin | 9900 | €7,124 | €8,475 | +€1,351 | +19.0% |
| Operating profit (loss) | 9901 | €396 | €1,654 | +€1,258 | +317% |
| Financial charges | 65/66B | €207 | - | -€207 | |
| Recurring financial charges | 65 | €207 | - | -€207 | |
| Profit (loss) for the period before taxes | 9903 | €189 | €1,654 | +€1,465 | +775% |
| Income taxes | 67/77 | - | €443 | +€443 | |
| Profit (loss) for the period | 9904 | €189 | €1,210 | +€1,022 | +541% |
| Profit (loss) for the period to be appropriated | 9905 | €189 | €1,210 | +€1,022 | +541% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.