Wouter Verrezen: 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.
Wouter Verrezen
Largest movements
- Cash +€12,755
up €12,755 (+75.7%), from €16,841 to €29,596
mainly Net result for the year (+€17,458) and Depreciation (+€14,847)
- Tangible fixed assets +€7,300
up €7,300 (+29.6%), from €24,691 to €31,992
of which Furniture and vehicles: +€8,117
- Receivables within one year +€5,395
up €5,395 (+32.1%), from €16,830 to €22,225
of which Trade receivables: +€10,432
- Profit (loss) carried forward +€17,458
up €17,458 (+154%), from €11,345 to €28,803
- Trade debts +€7,949
up €7,949 (+239%), from €3,326 to €11,275
- Current portion of long-term debt -€4,711
down €4,711 (-74.2%), from €6,350 to €1,639
- Other debts +€3,652
up €3,652 (+12.8%), from €28,484 to €32,136
- Tax, wage and social debts +€2,742
up €2,742 (+50.5%), from €5,431 to €8,173
of which Taxes: +€5,194
- Gross operating margin +€8,352
up €8,352 (+28.1%), from €29,734 to €38,086
- Taxes +€1,483
up €1,483 (+49.8%), from €2,979 to €4,461
- Depreciation +€1,238
up €1,238 (+9.1%), from €13,610 to €14,847
- Financial charges -€525
down €525 (-55.2%), from €951 to €426
of which Financial charges: -€527
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 | €59,074 | €84,526 | +€25,451 | +43.1% |
| Fixed assets | 21/28 | €24,691 | €31,992 | +€7,300 | +29.6% |
| Tangible fixed assets | 22/27 | €24,691 | €31,992 | +€7,300 | +29.6% |
| Plant, machinery and equipment | 23 | €7,215 | €6,399 | -€816 | -11.3% |
| Furniture and vehicles | 24 | €17,476 | €25,593 | +€8,117 | +46.4% |
| Current assets | 29/58 | €34,383 | €52,534 | +€18,151 | +52.8% |
| Amounts receivable within one year | 40/41 | €16,830 | €22,225 | +€5,395 | +32.1% |
| Trade receivables | 40 | €4,892 | €15,325 | +€10,432 | +213% |
| Other amounts receivable | 41 | €11,937 | €6,900 | -€5,037 | -42.2% |
| Cash at bank and in hand | 54/58 | €16,841 | €29,596 | +€12,755 | +75.7% |
| Deferred charges and accrued income | 490/1 | €713 | €714 | +€1 | +0.1% |
| Total equity and liabilities | 10/49 | €59,074 | €84,526 | +€25,451 | +43.1% |
| Equity | 10/15 | €13,845 | €31,303 | +€17,458 | +126% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,345 | €28,803 | +€17,458 | +154% |
| Amounts payable | 17/49 | €45,229 | €53,223 | +€7,994 | +17.7% |
| Amounts payable after more than one year | 17 | €1,639 | - | -€1,639 | |
| Financial debts | 170/4 | €1,639 | - | -€1,639 | |
| Amounts payable within one year | 42/48 | €43,591 | €53,223 | +€9,632 | +22.1% |
| Current portion of amounts payable after more than one year | 42 | €6,350 | €1,639 | -€4,711 | -74.2% |
| Trade debts | 44 | €3,326 | €11,275 | +€7,949 | +239% |
| Suppliers | 440/4 | €3,326 | €11,275 | +€7,949 | +239% |
| Taxes, remuneration and social security | 45 | €5,431 | €8,173 | +€2,742 | +50.5% |
| Taxes | 450/3 | €2,979 | €8,173 | +€5,194 | +174% |
| Remuneration and social security | 454/9 | €2,452 | - | -€2,452 | |
| Other amounts payable | 47/48 | €28,484 | €32,136 | +€3,652 | +12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,610 | €14,847 | +€1,238 | +9.1% |
| Other operating charges | 640/8 | €850 | €893 | +€44 | +5.1% |
| Gross operating margin | 9900 | €29,734 | €38,086 | +€8,352 | +28.1% |
| Operating profit (loss) | 9901 | €15,275 | €22,345 | +€7,070 | +46.3% |
| Financial charges | 65/66B | €951 | €426 | -€525 | -55.2% |
| Recurring financial charges | 65 | €951 | €424 | -€527 | -55.4% |
| Non-recurring financial charges | 66B | - | €2 | +€2 | |
| Profit (loss) for the period before taxes | 9903 | €14,324 | €21,919 | +€7,595 | +53.0% |
| Income taxes | 67/77 | €2,979 | €4,461 | +€1,483 | +49.8% |
| Profit (loss) for the period | 9904 | €11,345 | €17,458 | +€6,113 | +53.9% |
| Profit (loss) for the period to be appropriated | 9905 | €11,345 | €17,458 | +€6,113 | +53.9% |
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 24 October 2026 via checked.be.