Le Véritable: 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.
Le Véritable
Largest movements
- Stocks and contracts +€16,452
up €16,452 (+46.5%), from €35,413 to €51,865
- Cash +€9,466
up €9,466 (+513.3%), from €1,844 to €11,310
mainly Trade debts (+€13,102) and Tax, wage and social debts (+€13,071)
- Receivables within one year +€3,967
up €3,967 (+205.8%), from €1,928 to €5,895
of which Trade receivables: +€4,273
- Tangible fixed assets -€3,348
down €3,348 (-9.3%), from €36,056 to €32,708
of which Furniture and vehicles: -€3,864
- Deferred charges and accrued income +€2,447
up €2,447 (+176.8%), from €1,384 to €3,831
- Trade debts +€13,102
up €13,102 (+162.2%), from €8,076 to €21,178
- Tax, wage and social debts +€13,071
up €13,071 (+217.1%), from €6,022 to €19,093
of which Taxes: +€8,177
- Profit (loss) carried forward +€9,142
up €9,142 (+86.6%), from €10,562 to €19,704
- Debts after one year -€4,545
no longer reported in 2025 (was €4,545)
- Current portion of long-term debt -€2,414
down €2,414 (-48.1%), from €5,022 to €2,608
- Gross operating margin +€33,173
up €33,173 (+89.5%), from €37,071 to €70,244
- Staff costs +€10,587
up €10,587 (+30.5%), from €34,734 to €45,321
- Depreciation +€4,671
up €4,671 (+93.3%), from €5,005 to €9,676
- Taxes +€2,232
new in 2025: €2,232
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.
Cash bridge derived
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 | €76,625 | €106,109 | +€29,484 | +38.5% |
| Fixed assets | 21/28 | €36,056 | €32,708 | -€3,348 | -9.3% |
| Tangible fixed assets | 22/27 | €36,056 | €32,708 | -€3,348 | -9.3% |
| Plant, machinery and equipment | 23 | €1,995 | €1,376 | -€619 | -31.0% |
| Furniture and vehicles | 24 | €30,080 | €26,216 | -€3,864 | -12.8% |
| Other tangible fixed assets | 26 | €3,981 | €5,116 | +€1,135 | +28.5% |
| Current assets | 29/58 | €40,569 | €73,401 | +€32,832 | +80.9% |
| Amounts receivable after more than one year | 29 | - | €500 | +€500 | |
| Trade receivables | 290 | - | €500 | +€500 | |
| Stocks and contracts in progress | 3 | €35,413 | €51,865 | +€16,452 | +46.5% |
| Stocks | 30/36 | €35,413 | €51,865 | +€16,452 | +46.5% |
| Amounts receivable within one year | 40/41 | €1,928 | €5,895 | +€3,967 | +205.8% |
| Trade receivables | 40 | €1,618 | €5,891 | +€4,273 | +264.1% |
| Other amounts receivable | 41 | €310 | €4 | -€306 | -98.7% |
| Cash at bank and in hand | 54/58 | €1,844 | €11,310 | +€9,466 | +513.3% |
| Deferred charges and accrued income | 490/1 | €1,384 | €3,831 | +€2,447 | +176.8% |
| Total equity and liabilities | 10/49 | €76,625 | €106,109 | +€29,484 | +38.5% |
| Equity | 10/15 | €28,562 | €37,704 | +€9,142 | +32.0% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,562 | €19,704 | +€9,142 | +86.6% |
| Amounts payable | 17/49 | €48,063 | €68,405 | +€20,342 | +42.3% |
| Amounts payable after more than one year | 17 | €4,545 | - | -€4,545 | |
| Financial debts | 170/4 | €4,545 | - | -€4,545 | |
| Amounts payable within one year | 42/48 | €43,518 | €68,405 | +€24,887 | +57.2% |
| Current portion of amounts payable after more than one year | 42 | €5,022 | €2,608 | -€2,414 | -48.1% |
| Trade debts | 44 | €8,076 | €21,178 | +€13,102 | +162.2% |
| Suppliers | 440/4 | €8,076 | €21,178 | +€13,102 | +162.2% |
| Taxes, remuneration and social security | 45 | €6,022 | €19,093 | +€13,071 | +217.1% |
| Taxes | 450/3 | €1,256 | €9,433 | +€8,177 | +651.0% |
| Remuneration and social security | 454/9 | €4,766 | €9,660 | +€4,894 | +102.7% |
| Other amounts payable | 47/48 | €24,398 | €25,526 | +€1,128 | +4.6% |
| Remuneration, social security and pensions | 62 | €34,734 | €45,321 | +€10,587 | +30.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,005 | €9,676 | +€4,671 | +93.3% |
| Other operating charges | 640/8 | €1,096 | €1,607 | +€511 | +46.6% |
| Gross operating margin | 9900 | €37,071 | €70,244 | +€33,173 | +89.5% |
| Operating profit (loss) | 9901 | -€3,764 | €13,640 | +€17,404 | |
| Financial income | 75/76B | €175 | €3 | -€172 | -98.3% |
| Recurring financial income | 75 | €175 | €3 | -€172 | -98.3% |
| Financial charges | 65/66B | €2,090 | €2,269 | +€179 | +8.6% |
| Recurring financial charges | 65 | €2,090 | €2,269 | +€179 | +8.6% |
| Profit (loss) for the period before taxes | 9903 | -€5,679 | €11,374 | +€17,053 | |
| Income taxes | 67/77 | - | €2,232 | +€2,232 | |
| Profit (loss) for the period | 9904 | -€5,679 | €9,142 | +€14,821 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,679 | €9,142 | +€14,821 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.