PRO - VERA: what changed
Two fiscal 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.
PRO - VERA
Largest movements
- Receivables within one year +€419,767
up €419,767 (+505.1%), from €83,114 to €502,881
of which Other amounts receivable: +€377,614
- Stocks and contracts -€204,216
down €204,216 (-22.7%), from €899,758 to €695,542
- Intangible fixed assets -€47,538
down €47,538 (-61.6%), from €77,134 to €29,596
- Debts after one year -€599,466
down €599,466 (-64.5%), from €929,027 to €329,561
- Contributions +€492,074
up €492,074 (+46.0%), from €1.1m to €1.6m
- Other debts +€339,403
up €339,403 (+103.6%), from €327,743 to €667,145
- Short-term financial debts -€63,803
down €63,803 (-10.3%), from €620,000 to €556,197
- Current portion of long-term debt -€43,423
down €43,423 (-29.9%), from €145,315 to €101,892
- Gross operating margin -€83,879
down €83,879 (-30.2%), from €277,573 to €193,694
- Staff costs -€34,202
down €34,202 (-25.4%), from €134,844 to €100,641
- Financial charges -€19,816
down €19,816 (-31.7%), from €62,593 to €42,777
- Depreciation -€11,490
down €11,490 (-18.8%), from €61,179 to €49,689
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 | €3,354,224 | €3,519,724 | +€165,500 | +4.9% |
| Fixed assets | 21/28 | €2,117,781 | €2,068,092 | -€49,689 | -2.3% |
| Intangible fixed assets | 21 | €77,134 | €29,596 | -€47,538 | -61.6% |
| Tangible fixed assets | 22/27 | €12,526 | €10,375 | -€2,151 | -17.2% |
| Plant, machinery and equipment | 23 | €651 | - | -€651 | |
| Other tangible fixed assets | 26 | €11,875 | €10,375 | -€1,500 | -12.6% |
| Financial fixed assets | 28 | €2,028,121 | €2,028,121 | = | 0.0% |
| Current assets | 29/58 | €1,236,444 | €1,451,633 | +€215,189 | +17.4% |
| Amounts receivable after more than one year | 29 | €94,000 | €94,000 | = | 0.0% |
| Trade receivables | 290 | €94,000 | €94,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €899,758 | €695,542 | -€204,216 | -22.7% |
| Stocks | 30/36 | €899,758 | €695,542 | -€204,216 | -22.7% |
| Amounts receivable within one year | 40/41 | €83,114 | €502,881 | +€419,767 | +505.1% |
| Trade receivables | 40 | €43,948 | €86,100 | +€42,153 | +95.9% |
| Other amounts receivable | 41 | €39,166 | €416,780 | +€377,614 | +964.1% |
| Cash at bank and in hand | 54/58 | €13,131 | €5,919 | -€7,212 | -54.9% |
| Deferred charges and accrued income | 490/1 | €146,441 | €153,291 | +€6,850 | +4.7% |
| Total equity and liabilities | 10/49 | €3,354,224 | €3,519,724 | +€165,500 | +4.9% |
| Equity | 10/15 | €1,107,984 | €1,600,266 | +€492,282 | +44.4% |
| Contributions | 10/11 | €1,068,592 | €1,560,666 | +€492,074 | +46.0% |
| Capital | 10 | €1,068,592 | €1,560,666 | +€492,074 | +46.0% |
| Issued capital | 100 | €1,068,592 | €1,560,666 | +€492,074 | +46.0% |
| Reserves | 13 | €14,503 | €14,503 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,529 | €13,529 | = | 0.0% |
| Legal reserve | 130 | €13,529 | €13,529 | = | 0.0% |
| Distributable reserves | 133 | €974 | €974 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,889 | €25,097 | +€208 | +0.8% |
| Amounts payable | 17/49 | €2,246,240 | €1,919,458 | -€326,782 | -14.5% |
| Amounts payable after more than one year | 17 | €929,027 | €329,561 | -€599,466 | -64.5% |
| Financial debts | 170/4 | €929,027 | €329,561 | -€599,466 | -64.5% |
| Amounts payable within one year | 42/48 | €1,252,864 | €1,520,269 | +€267,406 | +21.3% |
| Current portion of amounts payable after more than one year | 42 | €145,315 | €101,892 | -€43,423 | -29.9% |
| Financial debts | 43 | €620,000 | €556,197 | -€63,803 | -10.3% |
| Credit institutions | 430/8 | €620,000 | €556,197 | -€63,803 | -10.3% |
| Trade debts | 44 | €127,401 | €168,584 | +€41,183 | +32.3% |
| Suppliers | 440/4 | €127,401 | €168,584 | +€41,183 | +32.3% |
| Taxes, remuneration and social security | 45 | €32,405 | €26,451 | -€5,954 | -18.4% |
| Taxes | 450/3 | €4,072 | €3,839 | -€232 | -5.7% |
| Remuneration and social security | 454/9 | €28,333 | €22,612 | -€5,722 | -20.2% |
| Other amounts payable | 47/48 | €327,743 | €667,145 | +€339,403 | +103.6% |
| Accrued charges and deferred income | 492/3 | €64,350 | €69,628 | +€5,278 | +8.2% |
| Remuneration, social security and pensions | 62 | €134,844 | €100,641 | -€34,202 | -25.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,179 | €49,689 | -€11,490 | -18.8% |
| Other operating charges | 640/8 | €1,100 | €237 | -€863 | -78.4% |
| Gross operating margin | 9900 | €277,573 | €193,694 | -€83,879 | -30.2% |
| Operating profit (loss) | 9901 | €80,450 | €43,126 | -€37,324 | -46.4% |
| Financial income | 75/76B | €164 | €35 | -€129 | -78.6% |
| Recurring financial income | 75 | €164 | €35 | -€129 | -78.6% |
| Financial charges | 65/66B | €62,593 | €42,777 | -€19,816 | -31.7% |
| Recurring financial charges | 65 | €62,593 | €42,777 | -€19,816 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | €18,021 | €384 | -€17,636 | -97.9% |
| Income taxes | 67/77 | €385 | €176 | -€209 | -54.3% |
| Profit (loss) for the period | 9904 | €17,636 | €208 | -€17,427 | -98.8% |
| Profit (loss) for the period to be appropriated | 9905 | €17,636 | €208 | -€17,427 | -98.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.