IMMO VERELLEN: what changed
What changed
IMMO VERELLEN
NACE 46.832, Wholesale of timber
filed annual accounts (NBB)
Net result for the year
-€89,723
2024 · €6,134-€95,858
Equity
€620,418
2024 · €710,142-€89,723
Cash
€10,037
2024 · €4,132+€5,905
Balance sheet total
€868,114
2024 · €991,734-€123,620
Largest movements
Assets
- Tangible fixed assets -€125,956
down €125,956 (-13.5%), from €934,385 to €808,429
of which Land and buildings: -€79,419
Equity and liabilities
- Reserves -€89,723
down €89,723 (-15.6%), from €575,142 to €485,418
of which Distributable reserves: -€89,723
- Debts after one year -€53,123
down €53,123 (-29.7%), from €178,749 to €125,627
- Trade debts +€31,661
up €31,661, from €0 to €31,661
- Short-term financial debts -€11,784
no longer reported in 2025 (was €11,784)
Income statement
- Gross operating margin -€92,394
down €92,394 (-47.9%), from €192,836 to €100,442
- Taxes -€4,660
down €4,660, from €4,660 to -€0
- Other operating charges +€4,300
up €4,300 (+24.2%), from €17,766 to €22,066
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€6,134
Gross operating margin
-€92,394
Depreciation
-€1,848
Other operating charges
-€4,300
Other operating items
-€3,245
Financial income
+€744
Financial charges
+€526
Taxes
+€4,660
Result 2025
-€89,723
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€94,470
Investment
-€20,764
Financing
-€67,801
Cash 2024
€4,132
From operations (derived)
+€94,470
Net result for the year
-€89,723
Depreciation
+€146,720
Receivables within one year
+€3,569
Trade debts
+€31,661
Other debts
-€563
Accrued charges and deferred income
+€2,805
Investment (derived)
-€20,764
Investment in fixed assets (net)
-€20,764
Financing
-€67,801
Debts after one year
-€53,123
Current portion of long-term debt
-€2,895
Short-term financial debts
-€11,784
Cash 2025
€10,037
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €991,734 | €868,114 | -€123,620 | -12.5% |
| Fixed assets | 21/28 | €934,385 | €808,429 | -€125,956 | -13.5% |
| Tangible fixed assets | 22/27 | €934,385 | €808,429 | -€125,956 | -13.5% |
| Land and buildings | 22 | €647,133 | €567,714 | -€79,419 | -12.3% |
| Plant, machinery and equipment | 23 | €214,208 | €180,393 | -€33,815 | -15.8% |
| Furniture and vehicles | 24 | €3,449 | €22,760 | +€19,311 | +560% |
| Leasing and similar rights | 25 | €69,596 | €37,562 | -€32,033 | -46.0% |
| Current assets | 29/58 | €57,349 | €59,685 | +€2,336 | +4.1% |
| Amounts receivable within one year | 40/41 | €53,217 | €49,648 | -€3,569 | -6.7% |
| Trade receivables | 40 | €2,874 | €26,000 | +€23,126 | +805% |
| Other amounts receivable | 41 | €50,342 | €23,648 | -€26,695 | -53.0% |
| Cash at bank and in hand | 54/58 | €4,132 | €10,037 | +€5,905 | +143% |
| Total equity and liabilities | 10/49 | €991,734 | €868,114 | -€123,620 | -12.5% |
| Equity | 10/15 | €710,142 | €620,418 | -€89,723 | -12.6% |
| Contributions | 10/11 | €135,000 | €135,000 | = | 0.0% |
| Capital | 10 | €135,000 | €135,000 | = | 0.0% |
| Issued capital | 100 | €135,000 | €135,000 | = | 0.0% |
| Reserves | 13 | €575,142 | €485,418 | -€89,723 | -15.6% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Legal reserve | 130 | €5,000 | €5,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €30,000 | €30,000 | = | 0.0% |
| Distributable reserves | 133 | €540,142 | €450,418 | -€89,723 | -16.6% |
| Amounts payable | 17/49 | €281,593 | €247,696 | -€33,897 | -12.0% |
| Amounts payable after more than one year | 17 | €178,749 | €125,627 | -€53,123 | -29.7% |
| Financial debts | 170/4 | €178,749 | €125,627 | -€53,123 | -29.7% |
| Amounts payable within one year | 42/48 | €102,843 | €119,264 | +€16,420 | +16.0% |
| Current portion of amounts payable after more than one year | 42 | €67,804 | €64,909 | -€2,895 | -4.3% |
| Financial debts | 43 | €11,784 | - | -€11,784 | |
| Credit institutions | 430/8 | €11,784 | - | -€11,784 | |
| Trade debts | 44 | €0 | €31,661 | +€31,661 | |
| Suppliers | 440/4 | €0 | €31,661 | +€31,661 | |
| Taxes, remuneration and social security | 45 | €8,741 | €8,741 | = | 0.0% |
| Taxes | 450/3 | €8,741 | €8,741 | = | 0.0% |
| Other amounts payable | 47/48 | €14,515 | €13,953 | -€563 | -3.9% |
| Accrued charges and deferred income | 492/3 | - | €2,805 | +€2,805 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €144,872 | €146,720 | +€1,848 | +1.3% |
| Other operating charges | 640/8 | €17,766 | €22,066 | +€4,300 | +24.2% |
| Non-recurring operating charges | 66A | €862 | €4,106 | +€3,245 | +377% |
| Gross operating margin | 9900 | €192,836 | €100,442 | -€92,394 | -47.9% |
| Operating profit (loss) | 9901 | €29,336 | -€72,451 | -€101,787 | |
| Financial income | 75/76B | - | €744 | +€744 | |
| Recurring financial income | 75 | - | €744 | +€744 | |
| Financial charges | 65/66B | €18,542 | €18,016 | -€526 | -2.8% |
| Recurring financial charges | 65 | €18,542 | €18,016 | -€526 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €10,794 | -€89,724 | -€100,518 | |
| Income taxes | 67/77 | €4,660 | -€0 | -€4,660 | |
| Profit (loss) for the period | 9904 | €6,134 | -€89,723 | -€95,858 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,134 | -€89,723 | -€95,858 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.