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.
VERA
Largest movements
- Cash +€570,546
up €570,546 (+40.2%), from €1.4m to €2.0m
mainly Other debts (+€451,698) and Debts after one year (+€223,286)
- Tangible fixed assets +€289,598
up €289,598 (+101.0%), from €286,846 to €576,445
of which Furniture and vehicles: +€293,197
- Stocks and contracts -€173,811
down €173,811 (-29.5%), from €589,735 to €415,924
- Receivables within one year -€78,796
down €78,796 (-16.8%), from €468,115 to €389,318
of which Trade receivables: -€60,941
- Profit (loss) carried forward -€764,894
no longer reported in 2025 (was €764,894)
- Reserves +€479,137
up €479,137 (+34.5%), from €1.4m to €1.9m
of which Distributable reserves: +€479,137
- Other debts +€451,698
up €451,698 (+388.6%), from €116,234 to €567,932
- Debts after one year +€223,286
up €223,286 (+232.3%), from €96,122 to €319,408
- Trade debts +€121,098
up €121,098 (+42.9%), from €282,082 to €403,181
- Depreciation +€28,108
up €28,108 (+28.9%), from €97,196 to €125,304
- Gross operating margin -€26,664
down €26,664 (-6.3%), from €425,605 to €398,941
- Staff costs -€26,577
down €26,577 (-33.5%), from €79,372 to €52,795
- Taxes -€23,236
down €23,236 (-27.9%), from €83,201 to €59,965
- Financial charges +€9,346
up €9,346 (+84.1%), from €11,111 to €20,457
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 | €2,787,622 | €3,387,930 | +€600,309 | +21.5% |
| Fixed assets | 21/28 | €286,934 | €576,532 | +€289,598 | +100.9% |
| Tangible fixed assets | 22/27 | €286,846 | €576,445 | +€289,598 | +101.0% |
| Land and buildings | 22 | €75,885 | €74,921 | -€964 | -1.3% |
| Plant, machinery and equipment | 23 | €48,085 | €46,666 | -€1,419 | -3.0% |
| Furniture and vehicles | 24 | €157,549 | €450,746 | +€293,197 | +186.1% |
| Leasing and similar rights | 25 | €5,327 | €4,111 | -€1,216 | -22.8% |
| Financial fixed assets | 28 | €88 | €88 | = | 0.0% |
| Current assets | 29/58 | €2,500,688 | €2,811,398 | +€310,710 | +12.4% |
| Stocks and contracts in progress | 3 | €589,735 | €415,924 | -€173,811 | -29.5% |
| Stocks | 30/36 | €589,735 | €415,924 | -€173,811 | -29.5% |
| Amounts receivable within one year | 40/41 | €468,115 | €389,318 | -€78,796 | -16.8% |
| Trade receivables | 40 | €420,954 | €360,013 | -€60,941 | -14.5% |
| Other amounts receivable | 41 | €47,160 | €29,305 | -€17,856 | -37.9% |
| Cash at bank and in hand | 54/58 | €1,420,621 | €1,991,168 | +€570,546 | +40.2% |
| Deferred charges and accrued income | 490/1 | €22,217 | €14,989 | -€7,228 | -32.5% |
| Total equity and liabilities | 10/49 | €2,787,622 | €3,387,930 | +€600,309 | +21.5% |
| Equity | 10/15 | €2,214,701 | €1,928,945 | -€285,757 | -12.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,387,808 | €1,866,945 | +€479,137 | +34.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,381,608 | €1,860,745 | +€479,137 | +34.7% |
| Profit (loss) carried forward | 14 | €764,894 | - | -€764,894 | |
| Amounts payable | 17/49 | €572,920 | €1,458,986 | +€886,065 | +154.7% |
| Amounts payable after more than one year | 17 | €96,122 | €319,408 | +€223,286 | +232.3% |
| Financial debts | 170/4 | €96,122 | €319,408 | +€223,286 | +232.3% |
| Amounts payable within one year | 42/48 | €475,766 | €1,128,405 | +€652,639 | +137.2% |
| Current portion of amounts payable after more than one year | 42 | €54,699 | €140,268 | +€85,569 | +156.4% |
| Trade debts | 44 | €282,082 | €403,181 | +€121,098 | +42.9% |
| Suppliers | 440/4 | €282,082 | €403,181 | +€121,098 | +42.9% |
| Advances received on contracts in progress | 46 | €2,000 | €3,500 | +€1,500 | +75.0% |
| Taxes, remuneration and social security | 45 | €20,751 | €13,524 | -€7,227 | -34.8% |
| Taxes | 450/3 | €10,983 | €4,826 | -€6,157 | -56.1% |
| Remuneration and social security | 454/9 | €9,768 | €8,698 | -€1,070 | -10.9% |
| Other amounts payable | 47/48 | €116,234 | €567,932 | +€451,698 | +388.6% |
| Accrued charges and deferred income | 492/3 | €1,032 | €11,173 | +€10,141 | +982.4% |
| Non-recurring operating income | 76A | - | €26,000 | +€26,000 | |
| Remuneration, social security and pensions | 62 | €79,372 | €52,795 | -€26,577 | -33.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,196 | €125,304 | +€28,108 | +28.9% |
| Other operating charges | 640/8 | €1,828 | €5,601 | +€3,773 | +206.4% |
| Gross operating margin | 9900 | €425,605 | €398,941 | -€26,664 | -6.3% |
| Operating profit (loss) | 9901 | €247,209 | €215,241 | -€31,969 | -12.9% |
| Financial income | 75/76B | €29,944 | €30,642 | +€698 | +2.3% |
| Recurring financial income | 75 | €29,944 | €30,642 | +€698 | +2.3% |
| Financial charges | 65/66B | €11,111 | €20,457 | +€9,346 | +84.1% |
| Recurring financial charges | 65 | €11,111 | €20,457 | +€9,346 | +84.1% |
| Profit (loss) for the period before taxes | 9903 | €266,042 | €225,425 | -€40,616 | -15.3% |
| Income taxes | 67/77 | €83,201 | €59,965 | -€23,236 | -27.9% |
| Profit (loss) for the period | 9904 | €182,841 | €165,460 | -€17,380 | -9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €182,841 | €165,460 | -€17,380 | -9.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.