VERABOUW: 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.
VERABOUW
Largest movements
- Tangible fixed assets +€1.8m
up €1.8m (+546%), from €330,689 to €2.1m
- Receivables within one year -€165,290
down €165,290 (-100%), from €165,290 to €0
- Cash -€70,160
down €70,160 (-72.7%), from €96,546 to €26,385
mainly Investment in fixed assets (net) (-€1.9m) and Net result for the year (-€90,801)
- Debts after one year +€1.1m
new in 2025: €1.1m
- Other debts +€460,088
up €460,088 (+343%), from €134,310 to €594,397
- Reserves -€90,801
down €90,801 (-27.8%), from €326,344 to €235,542
of which Distributable reserves: -€90,801
- Current portion of long-term debt +€83,333
new in 2025: €83,333
- Accrued charges and deferred income +€21,698
up €21,698 (+1,823%), from €1,190 to €22,888
- Depreciation +€102,902
up €102,902 (+421%), from €24,442 to €127,344
- Financial charges +€44,975
up €44,975 (+389%), from €11,563 to €56,538
- Gross operating margin -€28,654
down €28,654 (-21.5%), from €133,222 to €104,568
- Taxes -€22,400
down €22,400 (-100%), from €22,400 to €0
- Other operating charges +€3,868
up €3,868 (+50.8%), from €7,619 to €11,488
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 | €593,369 | €2,162,682 | +€1.6m | +264% |
| Fixed assets | 21/28 | €330,689 | €2,134,769 | +€1.8m | +546% |
| Tangible fixed assets | 22/27 | €330,689 | €2,134,769 | +€1.8m | +546% |
| Land and buildings | 22 | €330,689 | €2,134,769 | +€1.8m | +546% |
| Current assets | 29/58 | €262,680 | €27,913 | -€234,768 | -89.4% |
| Amounts receivable within one year | 40/41 | €165,290 | €0 | -€165,290 | -100% |
| Trade receivables | 40 | €165,290 | €0 | -€165,290 | -100% |
| Cash at bank and in hand | 54/58 | €96,546 | €26,385 | -€70,160 | -72.7% |
| Deferred charges and accrued income | 490/1 | €845 | €1,528 | +€683 | +80.9% |
| Total equity and liabilities | 10/49 | €593,369 | €2,162,682 | +€1.6m | +264% |
| Equity | 10/15 | €450,245 | €359,443 | -€90,801 | -20.2% |
| Contributions | 10/11 | €123,901 | €123,901 | = | 0.0% |
| Capital | 10 | €123,901 | €123,901 | = | 0.0% |
| Issued capital | 100 | €123,901 | €123,901 | = | 0.0% |
| Reserves | 13 | €326,344 | €235,542 | -€90,801 | -27.8% |
| Non-distributable reserves | 130/1 | €12,390 | €12,390 | = | 0.0% |
| Legal reserve | 130 | €12,390 | €12,390 | = | 0.0% |
| Distributable reserves | 133 | €313,954 | €223,152 | -€90,801 | -28.9% |
| Amounts payable | 17/49 | €143,125 | €1,803,239 | +€1.7m | +1,160% |
| Amounts payable after more than one year | 17 | - | €1,090,278 | +€1.1m | |
| Financial debts | 170/4 | - | €1,090,278 | +€1.1m | |
| Amounts payable within one year | 42/48 | €141,935 | €690,073 | +€548,139 | +386% |
| Current portion of amounts payable after more than one year | 42 | - | €83,333 | +€83,333 | |
| Trade debts | 44 | €3,880 | €10,798 | +€6,917 | +178% |
| Suppliers | 440/4 | €3,880 | €10,798 | +€6,917 | +178% |
| Advances received on contracts in progress | 46 | €1,345 | €1,545 | +€200 | +14.9% |
| Taxes, remuneration and social security | 45 | €2,400 | €0 | -€2,400 | -100% |
| Taxes | 450/3 | €2,400 | €0 | -€2,400 | -100% |
| Other amounts payable | 47/48 | €134,310 | €594,397 | +€460,088 | +343% |
| Accrued charges and deferred income | 492/3 | €1,190 | €22,888 | +€21,698 | +1,823% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,442 | €127,344 | +€102,902 | +421% |
| Other operating charges | 640/8 | €7,619 | €11,488 | +€3,868 | +50.8% |
| Gross operating margin | 9900 | €133,222 | €104,568 | -€28,654 | -21.5% |
| Operating profit (loss) | 9901 | €101,161 | -€34,263 | -€135,424 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €11,563 | €56,538 | +€44,975 | +389% |
| Recurring financial charges | 65 | €11,563 | €56,538 | +€44,975 | +389% |
| Profit (loss) for the period before taxes | 9903 | €89,598 | -€90,801 | -€180,399 | |
| Income taxes | 67/77 | €22,400 | €0 | -€22,400 | -100% |
| Profit (loss) for the period | 9904 | €67,198 | -€90,801 | -€158,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €67,198 | -€90,801 | -€158,000 |
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 13 October 2026 via checked.be.