SD VERANDA: 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.
SD VERANDA
Largest movements
- Receivables within one year +€36,334
up €36,334 (+53.3%), from €68,196 to €104,530
of which Trade receivables: +€36,334
- Cash +€29,326
up €29,326 (+39.0%), from €75,107 to €104,432
mainly Net result for the year (+€48,421) and Trade debts (+€37,932)
- Stocks and contracts +€20,063
up €20,063 (+10.3%), from €195,392 to €215,455
- Tangible fixed assets -€16,628
down €16,628 (-56.9%), from €29,209 to €12,581
of which Furniture and vehicles: -€13,587
- Reserves +€48,421
up €48,421 (+36.9%), from €131,169 to €179,590
- Trade debts +€37,932
up €37,932 (+49.9%), from €76,085 to €114,017
- Debts after one year -€11,070
down €11,070 (-72.1%), from €15,358 to €4,288
- Other debts -€10,949
down €10,949 (-10.7%), from €102,296 to €91,347
- Current portion of long-term debt +€5,552
up €5,552 (+11473.2%), from €48 to €5,600
- Gross operating margin +€29,071
up €29,071 (+33.5%), from €86,879 to €115,951
- Other operating charges +€18,950
up €18,950 (+576.2%), from €3,289 to €22,239
- Staff costs +€14,207
up €14,207 (+309.6%), from €4,589 to €18,796
- Depreciation -€3,389
down €3,389 (-35.7%), from €9,493 to €6,105
- Financial income -€1,908
down €1,908 (-97.0%), from €1,968 to €60
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 | €374,903 | €447,472 | +€72,569 | +19.4% |
| Fixed assets | 21/28 | €33,314 | €16,686 | -€16,628 | -49.9% |
| Tangible fixed assets | 22/27 | €29,209 | €12,581 | -€16,628 | -56.9% |
| Plant, machinery and equipment | 23 | €7,703 | €4,914 | -€2,789 | -36.2% |
| Furniture and vehicles | 24 | €20,260 | €6,673 | -€13,587 | -67.1% |
| Other tangible fixed assets | 26 | €1,246 | €993 | -€252 | -20.3% |
| Financial fixed assets | 28 | €4,105 | €4,105 | = | 0.0% |
| Current assets | 29/58 | €341,589 | €430,786 | +€89,197 | +26.1% |
| Stocks and contracts in progress | 3 | €195,392 | €215,455 | +€20,063 | +10.3% |
| Stocks | 30/36 | €195,392 | €215,455 | +€20,063 | +10.3% |
| Amounts receivable within one year | 40/41 | €68,196 | €104,530 | +€36,334 | +53.3% |
| Trade receivables | 40 | €66,502 | €102,836 | +€36,334 | +54.6% |
| Other amounts receivable | 41 | €1,694 | €1,694 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €75,107 | €104,432 | +€29,326 | +39.0% |
| Deferred charges and accrued income | 490/1 | €2,895 | €6,369 | +€3,474 | +120.0% |
| Total equity and liabilities | 10/49 | €374,903 | €447,472 | +€72,569 | +19.4% |
| Equity | 10/15 | €141,169 | €189,590 | +€48,421 | +34.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €131,169 | €179,590 | +€48,421 | +36.9% |
| Distributable reserves | 133 | €131,169 | €179,590 | +€48,421 | +36.9% |
| Amounts payable | 17/49 | €233,734 | €257,882 | +€24,148 | +10.3% |
| Amounts payable after more than one year | 17 | €15,358 | €4,288 | -€11,070 | -72.1% |
| Financial debts | 170/4 | €15,358 | €4,288 | -€11,070 | -72.1% |
| Amounts payable within one year | 42/48 | €216,916 | €253,594 | +€36,678 | +16.9% |
| Current portion of amounts payable after more than one year | 42 | €48 | €5,600 | +€5,552 | +11473.2% |
| Trade debts | 44 | €76,085 | €114,017 | +€37,932 | +49.9% |
| Suppliers | 440/4 | €76,085 | €114,017 | +€37,932 | +49.9% |
| Taxes, remuneration and social security | 45 | €38,486 | €42,629 | +€4,143 | +10.8% |
| Taxes | 450/3 | €33,934 | €37,157 | +€3,222 | +9.5% |
| Remuneration and social security | 454/9 | €4,552 | €5,473 | +€921 | +20.2% |
| Other amounts payable | 47/48 | €102,296 | €91,347 | -€10,949 | -10.7% |
| Accrued charges and deferred income | 492/3 | €1,461 | - | -€1,461 | |
| Remuneration, social security and pensions | 62 | €4,589 | €18,796 | +€14,207 | +309.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,493 | €6,105 | -€3,389 | -35.7% |
| Other operating charges | 640/8 | €3,289 | €22,239 | +€18,950 | +576.2% |
| Gross operating margin | 9900 | €86,879 | €115,951 | +€29,071 | +33.5% |
| Operating profit (loss) | 9901 | €69,508 | €68,811 | -€697 | -1.0% |
| Financial income | 75/76B | €1,968 | €60 | -€1,908 | -97.0% |
| Recurring financial income | 75 | €1,968 | €60 | -€1,908 | -97.0% |
| Financial charges | 65/66B | €1,755 | €2,867 | +€1,112 | +63.3% |
| Recurring financial charges | 65 | €1,755 | €2,867 | +€1,112 | +63.3% |
| Profit (loss) for the period before taxes | 9903 | €69,720 | €66,004 | -€3,717 | -5.3% |
| Income taxes | 67/77 | €18,306 | €17,582 | -€723 | -4.0% |
| Profit (loss) for the period | 9904 | €51,414 | €48,421 | -€2,993 | -5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €51,414 | €48,421 | -€2,993 | -5.8% |
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 10 October 2026 via checked.be.