VERA ICON: 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.
VERA ICON
Largest movements
- Deferred charges and accrued income -€13,781
down €13,781 (-93.0%), from €14,823 to €1,042
- Tangible fixed assets +€10,189
up €10,189 (+19.1%), from €53,314 to €63,503
- Receivables within one year -€6,816
down €6,816 (-11.4%), from €59,972 to €53,156
of which Trade receivables: -€17,132
- Cash -€6,490
down €6,490 (-34.4%), from €18,879 to €12,388
mainly Net result for the year (-€42,712) and Investment in fixed assets (net) (-€29,502)
- Profit (loss) carried forward -€42,712
new in 2025: -€42,712
- Short-term financial debts +€41,667
up €41,667 (+1,232%), from €3,381 to €45,048
- Other debts -€13,575
down €13,575 (-41.8%), from €32,448 to €18,873
- Debts after one year -€10,115
down €10,115 (-21.8%), from €46,386 to €36,271
- Tax, wage and social debts +€4,905
up €4,905 (+38.0%), from €12,912 to €17,817
of which Remuneration and social security: +€2,657
- Gross operating margin -€27,935
down €27,935 (-48.3%), from €57,849 to €29,914
- Staff costs +€8,023
up €8,023 (+22.6%), from €35,465 to €43,488
- Depreciation +€6,099
up €6,099 (+46.2%), from €13,214 to €19,313
- Financial charges +€1,732
up €1,732 (+32.0%), from €5,407 to €7,138
- Taxes -€1,369
down €1,369 (-80.9%), from €1,692 to €322
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 | €148,209 | €131,311 | -€16,898 | -11.4% |
| Fixed assets | 21/28 | €54,536 | €64,725 | +€10,189 | +18.7% |
| Tangible fixed assets | 22/27 | €53,314 | €63,503 | +€10,189 | +19.1% |
| Furniture and vehicles | 24 | €53,314 | €63,503 | +€10,189 | +19.1% |
| Financial fixed assets | 28 | €1,222 | €1,222 | = | 0.0% |
| Current assets | 29/58 | €93,673 | €66,586 | -€27,088 | -28.9% |
| Amounts receivable within one year | 40/41 | €59,972 | €53,156 | -€6,816 | -11.4% |
| Trade receivables | 40 | €47,010 | €29,878 | -€17,132 | -36.4% |
| Other amounts receivable | 41 | €12,961 | €23,277 | +€10,316 | +79.6% |
| Cash at bank and in hand | 54/58 | €18,879 | €12,388 | -€6,490 | -34.4% |
| Deferred charges and accrued income | 490/1 | €14,823 | €1,042 | -€13,781 | -93.0% |
| Total equity and liabilities | 10/49 | €148,209 | €131,311 | -€16,898 | -11.4% |
| Equity | 10/15 | €29,572 | -€13,140 | -€42,712 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €10,972 | €10,972 | = | 0.0% |
| Distributable reserves | 133 | €10,972 | €10,972 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€42,712 | -€42,712 | |
| Amounts payable | 17/49 | €118,637 | €144,451 | +€25,814 | +21.8% |
| Amounts payable after more than one year | 17 | €46,386 | €36,271 | -€10,115 | -21.8% |
| Financial debts | 170/4 | €46,386 | €36,271 | -€10,115 | -21.8% |
| Amounts payable within one year | 42/48 | €70,138 | €104,029 | +€33,892 | +48.3% |
| Current portion of amounts payable after more than one year | 42 | €9,630 | €10,115 | +€485 | +5.0% |
| Financial debts | 43 | €3,381 | €45,048 | +€41,667 | +1,232% |
| Credit institutions | 430/8 | €3,381 | €45,048 | +€41,667 | +1,232% |
| Trade debts | 44 | €11,766 | €12,177 | +€411 | +3.5% |
| Suppliers | 440/4 | €11,766 | €12,177 | +€411 | +3.5% |
| Taxes, remuneration and social security | 45 | €12,912 | €17,817 | +€4,905 | +38.0% |
| Taxes | 450/3 | €6,006 | €8,254 | +€2,248 | +37.4% |
| Remuneration and social security | 454/9 | €6,906 | €9,563 | +€2,657 | +38.5% |
| Other amounts payable | 47/48 | €32,448 | €18,873 | -€13,575 | -41.8% |
| Accrued charges and deferred income | 492/3 | €2,114 | €4,151 | +€2,038 | +96.4% |
| Remuneration, social security and pensions | 62 | €35,465 | €43,488 | +€8,023 | +22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,214 | €19,313 | +€6,099 | +46.2% |
| Other operating charges | 640/8 | €1,856 | €2,553 | +€697 | +37.5% |
| Gross operating margin | 9900 | €57,849 | €29,914 | -€27,935 | -48.3% |
| Operating profit (loss) | 9901 | €7,314 | -€35,440 | -€42,753 | |
| Financial income | 75/76B | €319 | €188 | -€131 | -41.0% |
| Recurring financial income | 75 | €319 | €188 | -€131 | -41.0% |
| Financial charges | 65/66B | €5,407 | €7,138 | +€1,732 | +32.0% |
| Recurring financial charges | 65 | €5,407 | €7,138 | +€1,732 | +32.0% |
| Profit (loss) for the period before taxes | 9903 | €2,226 | -€42,390 | -€44,616 | |
| Income taxes | 67/77 | €1,692 | €322 | -€1,369 | -80.9% |
| Profit (loss) for the period | 9904 | €534 | -€42,712 | -€43,247 | |
| Profit (loss) for the period to be appropriated | 9905 | €534 | -€42,712 | -€43,247 |
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 14 October 2026 via checked.be.