VER-DECO: 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.
What changed
VER-DECO
NACE 43.320, Joinery installation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€4,806
2024 · €37,889-€33,083
Equity
€303,412
2024 · €298,606+€4,806
Cash
€34,517
2024 · €16,651+€17,867
Balance sheet total
€543,396
2024 · €569,824-€26,429
Largest movements
Assets
- Tangible fixed assets -€37,064
down €37,064 (-7.9%), from €470,885 to €433,820
- Cash +€17,867
up €17,867 (+107%), from €16,651 to €34,517
mainly Depreciation (+€30,851) and Investment in fixed assets (net) (+€6,213)
Equity and liabilities
- Debts after one year -€17,991
down €17,991 (-10.6%), from €169,509 to €151,519
- Tax, wage and social debts -€8,799
down €8,799 (-59.9%), from €14,685 to €5,885
of which Remuneration and social security: -€6,220
Income statement
- Gross operating margin -€43,359
down €43,359 (-25.9%), from €167,353 to €123,994
- Taxes -€13,233
down €13,233 (-82.3%), from €16,079 to €2,846
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.
Result 2024
€37,889
Gross operating margin
-€43,359
Staff costs
-€835
Depreciation
-€684
Other operating charges
-€566
Financial income
-€230
Financial charges
-€641
Taxes
+€13,233
Result 2025
€4,806
raises the resultlowers the result
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.
From operations
+€29,785
Investment
+€6,213
Financing
-€18,132
Cash 2024
€16,651
From operations (derived)
+€29,785
Net result for the year
+€4,806
Depreciation
+€30,851
Receivables within one year
+€5,693
Deferred charges and accrued income
+€1,538
Trade debts
-€5,376
Tax, wage and social debts
-€8,799
Other debts
+€5,159
Accrued charges and deferred income
-€4,086
Investment (derived)
+€6,213
Investment in fixed assets (net)
+€6,213
Financing
-€18,132
Debts after one year
-€17,991
Current portion of long-term debt
+€2,359
Short-term financial debts
-€2,500
Cash 2025
€34,517
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €569,824 | €543,396 | -€26,429 | -4.6% |
| Fixed assets | 21/28 | €470,975 | €433,910 | -€37,064 | -7.9% |
| Tangible fixed assets | 22/27 | €470,885 | €433,820 | -€37,064 | -7.9% |
| Land and buildings | 22 | €418,036 | €404,358 | -€13,678 | -3.3% |
| Plant, machinery and equipment | 23 | €23,899 | €13,121 | -€10,778 | -45.1% |
| Furniture and vehicles | 24 | €28,950 | €16,342 | -€12,608 | -43.6% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €98,850 | €109,485 | +€10,636 | +10.8% |
| Stocks and contracts in progress | 3 | €2,500 | €2,500 | = | 0.0% |
| Stocks | 30/36 | €2,500 | €2,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €75,495 | €69,802 | -€5,693 | -7.5% |
| Trade receivables | 40 | €69,555 | €59,494 | -€10,061 | -14.5% |
| Other amounts receivable | 41 | €5,939 | €10,307 | +€4,368 | +73.5% |
| Cash at bank and in hand | 54/58 | €16,651 | €34,517 | +€17,867 | +107% |
| Deferred charges and accrued income | 490/1 | €4,204 | €2,667 | -€1,538 | -36.6% |
| Total equity and liabilities | 10/49 | €569,824 | €543,396 | -€26,429 | -4.6% |
| Equity | 10/15 | €298,606 | €303,412 | +€4,806 | +1.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €280,006 | €284,812 | +€4,806 | +1.7% |
| Distributable reserves | 133 | €280,006 | €284,812 | +€4,806 | +1.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €271,219 | €239,984 | -€31,235 | -11.5% |
| Amounts payable after more than one year | 17 | €169,509 | €151,519 | -€17,991 | -10.6% |
| Financial debts | 170/4 | €169,509 | €151,519 | -€17,991 | -10.6% |
| Amounts payable within one year | 42/48 | €97,570 | €88,413 | -€9,158 | -9.4% |
| Current portion of amounts payable after more than one year | 42 | €40,632 | €42,991 | +€2,359 | +5.8% |
| Financial debts | 43 | €7,500 | €5,000 | -€2,500 | -33.3% |
| Credit institutions | 430/8 | €7,500 | €5,000 | -€2,500 | -33.3% |
| Trade debts | 44 | €34,289 | €28,913 | -€5,376 | -15.7% |
| Suppliers | 440/4 | €34,289 | €28,913 | -€5,376 | -15.7% |
| Taxes, remuneration and social security | 45 | €14,685 | €5,885 | -€8,799 | -59.9% |
| Taxes | 450/3 | €2,579 | €0 | -€2,579 | -100% |
| Remuneration and social security | 454/9 | €12,106 | €5,885 | -€6,220 | -51.4% |
| Other amounts payable | 47/48 | €465 | €5,624 | +€5,159 | +1,110% |
| Accrued charges and deferred income | 492/3 | €4,139 | €53 | -€4,086 | -98.7% |
| Non-recurring operating income | 76A | €6,000 | €4,301 | -€1,699 | -28.3% |
| Remuneration, social security and pensions | 62 | €73,591 | €74,426 | +€835 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,167 | €30,851 | +€684 | +2.3% |
| Other operating charges | 640/8 | €3,209 | €3,775 | +€566 | +17.6% |
| Gross operating margin | 9900 | €167,353 | €123,994 | -€43,359 | -25.9% |
| Operating profit (loss) | 9901 | €60,387 | €14,942 | -€45,445 | -75.3% |
| Financial income | 75/76B | €548 | €318 | -€230 | -42.0% |
| Recurring financial income | 75 | €548 | €318 | -€230 | -42.0% |
| Financial charges | 65/66B | €6,968 | €7,608 | +€641 | +9.2% |
| Recurring financial charges | 65 | €6,968 | €7,608 | +€641 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | €53,968 | €7,652 | -€46,316 | -85.8% |
| Income taxes | 67/77 | €16,079 | €2,846 | -€13,233 | -82.3% |
| Profit (loss) for the period | 9904 | €37,889 | €4,806 | -€33,083 | -87.3% |
| Profit (loss) for the period to be appropriated | 9905 | €37,889 | €4,806 | -€33,083 | -87.3% |
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 20 October 2026 via checked.be.