VEERIDAN: 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.
VEERIDAN
Largest movements
- Tangible fixed assets -€641,422
down €641,422 (-39.9%), from €1.6m to €966,079
of which Land and buildings: -€766,440
- Current investments +€158,507
new in 2025: €158,507
- Cash +€120,345
up €120,345 (+434%), from €27,715 to €148,060
mainly Investment in fixed assets (net) (+€584,062) and Net result for the year (+€573,004)
- Reserves +€643,445
up €643,445 (+140%), from €458,308 to €1.1m
of which Distributable reserves: +€911,630
- Debts after one year -€450,692
down €450,692 (-92.5%), from €487,340 to €36,648
- Short-term financial debts -€250,000
down €250,000 (-100%), from €250,000 to €0
- Current portion of long-term debt -€88,009
down €88,009 (-90.3%), from €97,497 to €9,488
- Other debts -€74,505
down €74,505 (-44.4%), from €167,681 to €93,176
- Gross operating margin +€755,928
up €755,928 (+535%), from €141,391 to €897,319
- Taxes +€304,963
up €304,963 (+6,274%), from €4,861 to €309,824
- Financial charges -€37,006
down €37,006 (-73.3%), from €50,499 to €13,493
- Depreciation -€33,901
down €33,901 (-37.1%), from €91,261 to €57,360
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 | €1,640,171 | €1,277,132 | -€363,039 | -22.1% |
| Fixed assets | 21/28 | €1,609,600 | €968,179 | -€641,422 | -39.8% |
| Tangible fixed assets | 22/27 | €1,607,500 | €966,079 | -€641,422 | -39.9% |
| Land and buildings | 22 | €1,542,979 | €776,539 | -€766,440 | -49.7% |
| Plant, machinery and equipment | 23 | €27,549 | €30,664 | +€3,114 | +11.3% |
| Furniture and vehicles | 24 | €36,972 | €158,877 | +€121,905 | +330% |
| Financial fixed assets | 28 | €2,100 | €2,100 | = | 0.0% |
| Current assets | 29/58 | €30,571 | €308,953 | +€278,383 | +911% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Current investments | 50/53 | - | €158,507 | +€158,507 | |
| Cash at bank and in hand | 54/58 | €27,715 | €148,060 | +€120,345 | +434% |
| Deferred charges and accrued income | 490/1 | €2,856 | €2,386 | -€470 | -16.5% |
| Total equity and liabilities | 10/49 | €1,640,171 | €1,277,132 | -€363,039 | -22.1% |
| Equity | 10/15 | €559,382 | €1,132,386 | +€573,004 | +102% |
| Contributions | 10/11 | €30,632 | €30,632 | = | 0.0% |
| Reserves | 13 | €458,308 | €1,101,754 | +€643,445 | +140% |
| Tax-exempt reserves | 132 | €268,185 | €0 | -€268,185 | -100% |
| Distributable reserves | 133 | €190,124 | €1,101,754 | +€911,630 | +479% |
| Profit (loss) carried forward | 14 | €70,441 | €0 | -€70,441 | -100% |
| Provisions and deferred taxes | 16 | €65,379 | €0 | -€65,379 | -100% |
| Deferred taxes | 168 | €65,379 | €0 | -€65,379 | -100% |
| Amounts payable | 17/49 | €1,015,410 | €144,746 | -€870,664 | -85.7% |
| Amounts payable after more than one year | 17 | €487,340 | €36,648 | -€450,692 | -92.5% |
| Financial debts | 170/4 | €487,340 | €36,648 | -€450,692 | -92.5% |
| Amounts payable within one year | 42/48 | €528,070 | €108,098 | -€419,972 | -79.5% |
| Current portion of amounts payable after more than one year | 42 | €97,497 | €9,488 | -€88,009 | -90.3% |
| Financial debts | 43 | €250,000 | €0 | -€250,000 | -100% |
| Credit institutions | 430/8 | €250,000 | €0 | -€250,000 | -100% |
| Trade debts | 44 | €2,993 | €2,054 | -€939 | -31.4% |
| Suppliers | 440/4 | €2,993 | €2,054 | -€939 | -31.4% |
| Taxes, remuneration and social security | 45 | €9,899 | €3,379 | -€6,520 | -65.9% |
| Taxes | 450/3 | €9,899 | €3,379 | -€6,520 | -65.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €167,681 | €93,176 | -€74,505 | -44.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €3,277 | €0 | -€3,277 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,261 | €57,360 | -€33,901 | -37.1% |
| Other operating charges | 640/8 | €16,344 | €9,839 | -€6,505 | -39.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €141,391 | €897,319 | +€755,928 | +535% |
| Operating profit (loss) | 9901 | €30,508 | €830,120 | +€799,612 | +2,621% |
| Financial income | 75/76B | €0 | €822 | +€822 | |
| Recurring financial income | 75 | €0 | €822 | +€822 | |
| Financial charges | 65/66B | €50,499 | €13,493 | -€37,006 | -73.3% |
| Recurring financial charges | 65 | €50,499 | €13,493 | -€37,006 | -73.3% |
| Profit (loss) for the period before taxes | 9903 | -€19,991 | €817,449 | +€837,440 | |
| Transfer from deferred taxes | 780 | €6,885 | €65,379 | +€58,494 | +850% |
| Income taxes | 67/77 | €4,861 | €309,824 | +€304,963 | +6,274% |
| Profit (loss) for the period | 9904 | -€17,967 | €573,004 | +€590,971 | |
| Transfer from tax-exempt reserves | 789 | €20,256 | €268,185 | +€247,929 | +1,224% |
| Profit (loss) for the period to be appropriated | 9905 | €2,289 | €841,189 | +€838,900 | +36,649% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.