Veraart & Partners: 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.
Veraart & Partners
Largest movements
- Receivables after one year -€130,750
down €130,750 (-100%), from €130,750 to €0
- Current investments -€85,000
down €85,000 (-68.0%), from €124,998 to €39,998
- Intangible fixed assets +€57,183
up €57,183 (+15.5%), from €368,915 to €426,098
- Cash +€37,745
up €37,745 (+250%), from €15,082 to €52,827
mainly Net result for the year (+€201,353) and Receivables after one year (+€130,750)
- Tangible fixed assets -€13,822
down €13,822 (-8.4%), from €165,197 to €151,375
of which Furniture and vehicles: -€13,838
- Debts after one year -€273,434
down €273,434 (-44.4%), from €615,939 to €342,504
- Other debts +€85,471
up €85,471 (+276%), from €31,023 to €116,494
- Reserves +€42,879
up €42,879 (+10.2%), from €420,594 to €463,472
of which Distributable reserves: +€42,879
- Trade debts +€17,661
up €17,661 (+28.9%), from €61,150 to €78,811
- Current portion of long-term debt -€15,013
down €15,013 (-12.2%), from €122,727 to €107,714
- Financial charges -€235,775
down €235,775 (-91.6%), from €257,263 to €21,488
of which Non-recurring financial charges: -€217,000
- Financial income -€138,470
down €138,470 (-99.3%), from €139,446 to €976
- Staff costs +€59,980
up €59,980 (+11.3%), from €530,933 to €590,913
- Gross operating margin -€19,969
down €19,969 (-2.0%), from €1.0m to €982,042
- Taxes -€14,708
down €14,708 (-13.4%), from €109,597 to €94,889
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 | €1,289,816 | €1,142,104 | -€147,712 | -11.5% |
| Fixed assets | 21/28 | €534,112 | €577,473 | +€43,361 | +8.1% |
| Intangible fixed assets | 21 | €368,915 | €426,098 | +€57,183 | +15.5% |
| Tangible fixed assets | 22/27 | €165,197 | €151,375 | -€13,822 | -8.4% |
| Land and buildings | 22 | €49,717 | €46,665 | -€3,052 | -6.1% |
| Plant, machinery and equipment | 23 | €50,638 | €53,706 | +€3,068 | +6.1% |
| Furniture and vehicles | 24 | €64,842 | €51,004 | -€13,838 | -21.3% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €755,704 | €564,631 | -€191,073 | -25.3% |
| Amounts receivable after more than one year | 29 | €130,750 | €0 | -€130,750 | -100% |
| Other amounts receivable | 291 | €130,750 | €0 | -€130,750 | -100% |
| Amounts receivable within one year | 40/41 | €475,821 | €468,515 | -€7,305 | -1.5% |
| Trade receivables | 40 | - | €1,198 | +€1,198 | |
| Other amounts receivable | 41 | €475,821 | €467,318 | -€8,503 | -1.8% |
| Current investments | 50/53 | €124,998 | €39,998 | -€85,000 | -68.0% |
| Cash at bank and in hand | 54/58 | €15,082 | €52,827 | +€37,745 | +250% |
| Deferred charges and accrued income | 490/1 | €9,053 | €3,290 | -€5,763 | -63.7% |
| Total equity and liabilities | 10/49 | €1,289,816 | €1,142,104 | -€147,712 | -11.5% |
| Equity | 10/15 | €423,357 | €466,236 | +€42,879 | +10.1% |
| Contributions | 10/11 | €2,764 | €2,764 | = | 0.0% |
| Reserves | 13 | €420,594 | €463,472 | +€42,879 | +10.2% |
| Tax-exempt reserves | 132 | €4,067 | €4,067 | = | 0.0% |
| Distributable reserves | 133 | €416,527 | €459,406 | +€42,879 | +10.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €866,459 | €675,868 | -€190,590 | -22.0% |
| Amounts payable after more than one year | 17 | €615,939 | €342,504 | -€273,434 | -44.4% |
| Financial debts | 170/4 | €615,939 | €342,504 | -€273,434 | -44.4% |
| Amounts payable within one year | 42/48 | €248,881 | €331,725 | +€82,844 | +33.3% |
| Current portion of amounts payable after more than one year | 42 | €122,727 | €107,714 | -€15,013 | -12.2% |
| Financial debts | 43 | €4,251 | €0 | -€4,251 | -100% |
| Other loans | 439 | €4,251 | €0 | -€4,251 | -100% |
| Trade debts | 44 | €61,150 | €78,811 | +€17,661 | +28.9% |
| Suppliers | 440/4 | €61,150 | €78,811 | +€17,661 | +28.9% |
| Taxes, remuneration and social security | 45 | €29,729 | €28,706 | -€1,023 | -3.4% |
| Taxes | 450/3 | €8,566 | €0 | -€8,566 | -100% |
| Remuneration and social security | 454/9 | €21,163 | €28,706 | +€7,543 | +35.6% |
| Other amounts payable | 47/48 | €31,023 | €116,494 | +€85,471 | +276% |
| Accrued charges and deferred income | 492/3 | €1,639 | €1,639 | = | 0.0% |
| Non-recurring operating income | 76A | €200 | €0 | -€200 | -100% |
| Remuneration, social security and pensions | 62 | €530,933 | €590,913 | +€59,980 | +11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,240 | €72,490 | +€1,250 | +1.8% |
| Other operating charges | 640/8 | €2,542 | €1,887 | -€655 | -25.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,002,011 | €982,042 | -€19,969 | -2.0% |
| Operating profit (loss) | 9901 | €397,297 | €316,753 | -€80,544 | -20.3% |
| Financial income | 75/76B | €139,446 | €976 | -€138,470 | -99.3% |
| Recurring financial income | 75 | €139,446 | €976 | -€138,470 | -99.3% |
| Financial charges | 65/66B | €257,263 | €21,488 | -€235,775 | -91.6% |
| Recurring financial charges | 65 | €40,263 | €21,488 | -€18,775 | -46.6% |
| Non-recurring financial charges | 66B | €217,000 | €0 | -€217,000 | -100% |
| Profit (loss) for the period before taxes | 9903 | €279,480 | €296,242 | +€16,761 | +6.0% |
| Income taxes | 67/77 | €109,597 | €94,889 | -€14,708 | -13.4% |
| Profit (loss) for the period | 9904 | €169,883 | €201,353 | +€31,470 | +18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €169,883 | €201,353 | +€31,470 | +18.5% |
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 27 October 2026 via checked.be.