Vicky Veraghtert: 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.
Vicky Veraghtert
Largest movements
- Financial fixed assets +€20,000
up €20,000 (+12.3%), from €162,500 to €182,500
- Tangible fixed assets +€14,263
up €14,263 (+79.8%), from €17,864 to €32,127
of which Land and buildings: +€20,670
- Receivables within one year +€14,261
up €14,261 (+13.7%), from €104,000 to €118,261
- Cash -€3,403
down €3,403 (-57.1%), from €5,958 to €2,556
mainly Contributions, distributions and other (-€60,000) and Investment in fixed assets (net) (-€41,053)
- Other debts +€34,624
up €34,624 (+72.2%), from €47,928 to €82,552
- Reserves +€33,940
up €33,940 (+19.8%), from €171,762 to €205,703
- Advances received -€30,250
no longer reported in 2025 (was €30,250)
- Tax, wage and social debts +€8,644
up €8,644 (+44.7%), from €19,323 to €27,967
of which Taxes: +€20,089
- Debts after one year -€3,689
down €3,689 (-33.1%), from €11,157 to €7,468
- Gross operating margin +€31,876
up €31,876 (+30.9%), from €103,316 to €135,192
- Taxes +€11,431
up €11,431 (+53.3%), from €21,445 to €32,876
- Depreciation +€5,548
up €5,548 (+447%), from €1,241 to €6,789
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 | €290,765 | €335,775 | +€45,011 | +15.5% |
| Fixed assets | 21/28 | €180,364 | €214,627 | +€34,263 | +19.0% |
| Tangible fixed assets | 22/27 | €17,864 | €32,127 | +€14,263 | +79.8% |
| Land and buildings | 22 | - | €20,670 | +€20,670 | |
| Furniture and vehicles | 24 | €17,864 | €11,457 | -€6,407 | -35.9% |
| Financial fixed assets | 28 | €162,500 | €182,500 | +€20,000 | +12.3% |
| Current assets | 29/58 | €110,401 | €121,148 | +€10,747 | +9.7% |
| Amounts receivable within one year | 40/41 | €104,000 | €118,261 | +€14,261 | +13.7% |
| Trade receivables | 40 | €104,000 | €118,261 | +€14,261 | +13.7% |
| Cash at bank and in hand | 54/58 | €5,958 | €2,556 | -€3,403 | -57.1% |
| Deferred charges and accrued income | 490/1 | €442 | €331 | -€111 | -25.1% |
| Total equity and liabilities | 10/49 | €290,765 | €335,775 | +€45,011 | +15.5% |
| Equity | 10/15 | €174,262 | €208,203 | +€33,940 | +19.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €171,762 | €205,703 | +€33,940 | +19.8% |
| Distributable reserves | 133 | €171,762 | €205,703 | +€33,940 | +19.8% |
| Amounts payable | 17/49 | €116,502 | €127,573 | +€11,070 | +9.5% |
| Amounts payable after more than one year | 17 | €11,157 | €7,468 | -€3,689 | -33.1% |
| Financial debts | 170/4 | €11,157 | €7,468 | -€3,689 | -33.1% |
| Amounts payable within one year | 42/48 | €105,237 | €120,105 | +€14,868 | +14.1% |
| Current portion of amounts payable after more than one year | 42 | €3,553 | €3,689 | +€136 | +3.8% |
| Financial debts | 43 | €3,361 | €5,809 | +€2,448 | +72.8% |
| Credit institutions | 430/8 | €3,361 | €5,809 | +€2,448 | +72.8% |
| Trade debts | 44 | €821 | €88 | -€733 | -89.3% |
| Suppliers | 440/4 | €821 | €88 | -€733 | -89.3% |
| Advances received on contracts in progress | 46 | €30,250 | - | -€30,250 | |
| Taxes, remuneration and social security | 45 | €19,323 | €27,967 | +€8,644 | +44.7% |
| Taxes | 450/3 | €7,878 | €27,967 | +€20,089 | +255% |
| Remuneration and social security | 454/9 | €11,445 | - | -€11,445 | |
| Other amounts payable | 47/48 | €47,928 | €82,552 | +€34,624 | +72.2% |
| Accrued charges and deferred income | 492/3 | €108 | - | -€108 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,241 | €6,789 | +€5,548 | +447% |
| Other operating charges | 640/8 | €790 | €864 | +€73 | +9.3% |
| Non-recurring operating charges | 66A | €1,778 | - | -€1,778 | |
| Gross operating margin | 9900 | €103,316 | €135,192 | +€31,876 | +30.9% |
| Operating profit (loss) | 9901 | €99,506 | €127,539 | +€28,033 | +28.2% |
| Financial charges | 65/66B | €217 | €723 | +€507 | +234% |
| Recurring financial charges | 65 | €217 | €723 | +€507 | +234% |
| Profit (loss) for the period before taxes | 9903 | €99,290 | €126,816 | +€27,526 | +27.7% |
| Income taxes | 67/77 | €21,445 | €32,876 | +€11,431 | +53.3% |
| Profit (loss) for the period | 9904 | €77,845 | €93,940 | +€16,095 | +20.7% |
| Profit (loss) for the period to be appropriated | 9905 | €77,845 | €93,940 | +€16,095 | +20.7% |
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 14 October 2026 via checked.be.