VERAC: 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.
What changed
VERAC
NACE 68.310, Real estate agency activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€376,038
2024 · €397,333-€21,296
Equity
€10.2m
2024 · €9.9m+€344,199
Cash
€107,947
2024 · €173,490-€65,543
Balance sheet total
€13.6m
2024 · €13.6m-€55,035
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Reserves +€344,199
up €344,199 (+33.3%), from €1.0m to €1.4m
of which Distributable reserves: +€362,669
- Debts after one year -€317,694
down €317,694 (-17.1%), from €1.9m to €1.5m
of which Other amounts payable: -€940,000
Income statement
- Taxes -€32,536
down €32,536 (-19.1%), from €170,277 to €137,741
- Gross operating margin -€31,529
down €31,529 (-2.6%), from €1.2m to €1.2m
- Staff costs +€25,537
up €25,537 (+5.9%), from €432,959 to €458,496
- Other operating charges +€12,275
up €12,275 (+19.9%), from €61,753 to €74,028
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
€397,333
Gross operating margin
-€31,529
Staff costs
-€25,537
Depreciation
+€6,931
Other operating charges
-€12,275
Other operating items
-€14
Financial income
-€2,173
Financial charges
+€10,766
Taxes
+€32,536
Result 2025
€376,038
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.
From operations
+€348,242
Investment
-€60,759
Financing
-€353,026
Cash 2024
€173,490
From operations (derived)
+€348,242
Net result for the year
+€376,038
Depreciation
+€109,139
Receivables within one year
-€55,220
Deferred charges and accrued income
-€3,669
Provisions
-€7,753
Trade debts
-€71,684
Tax, wage and social debts
+€122,947
Other debts
-€7,714
Accrued charges and deferred income
-€113,842
Investment (derived)
-€60,759
Investment in fixed assets (net)
-€60,759
Financing
-€353,026
Debts after one year
-€317,694
Current portion of long-term debt
-€3,494
Contributions, distributions and other
-€31,838
Cash 2025
€107,947
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,614,096 | €13,559,062 | -€55,035 | -0.4% |
| Fixed assets | 21/28 | €12,651,228 | €12,602,847 | -€48,381 | -0.4% |
| Intangible fixed assets | 21 | €309,573 | €304,192 | -€5,381 | -1.7% |
| Tangible fixed assets | 22/27 | €12,341,655 | €12,298,655 | -€42,999 | -0.3% |
| Land and buildings | 22 | €9,870,642 | €9,906,523 | +€35,881 | +0.4% |
| Plant, machinery and equipment | 23 | €162,500 | €182,621 | +€20,120 | +12.4% |
| Furniture and vehicles | 24 | €67,591 | €42,190 | -€25,402 | -37.6% |
| Other tangible fixed assets | 26 | €2,240,922 | €2,167,322 | -€73,599 | -3.3% |
| Current assets | 29/58 | €962,868 | €956,214 | -€6,654 | -0.7% |
| Amounts receivable within one year | 40/41 | €740,523 | €795,743 | +€55,220 | +7.5% |
| Trade receivables | 40 | €58,566 | €72,040 | +€13,474 | +23.0% |
| Other amounts receivable | 41 | €681,957 | €723,703 | +€41,745 | +6.1% |
| Cash at bank and in hand | 54/58 | €173,490 | €107,947 | -€65,543 | -37.8% |
| Deferred charges and accrued income | 490/1 | €48,855 | €52,524 | +€3,669 | +7.5% |
| Total equity and liabilities | 10/49 | €13,614,096 | €13,559,062 | -€55,035 | -0.4% |
| Equity | 10/15 | €9,894,020 | €10,238,220 | +€344,199 | +3.5% |
| Contributions | 10/11 | €1,460,234 | €1,460,234 | = | 0.0% |
| Capital | 10 | €1,460,234 | €1,460,234 | = | 0.0% |
| Issued capital | 100 | €1,460,234 | €1,460,234 | = | 0.0% |
| Revaluation surpluses | 12 | €7,401,515 | €7,401,515 | = | 0.0% |
| Reserves | 13 | €1,032,271 | €1,376,471 | +€344,199 | +33.3% |
| Non-distributable reserves | 130/1 | €146,023 | €146,023 | = | 0.0% |
| Legal reserve | 130 | €146,023 | €146,023 | = | 0.0% |
| Tax-exempt reserves | 132 | €570,804 | €552,335 | -€18,470 | -3.2% |
| Distributable reserves | 133 | €315,444 | €678,113 | +€362,669 | +115.0% |
| Provisions and deferred taxes | 16 | €797,610 | €789,857 | -€7,753 | -1.0% |
| Provisions for liabilities and charges | 160/5 | €414,783 | €414,783 | = | 0.0% |
| Pensions and similar obligations | 160 | €414,783 | €414,783 | = | 0.0% |
| Deferred taxes | 168 | €382,827 | €375,075 | -€7,753 | -2.0% |
| Amounts payable | 17/49 | €2,922,466 | €2,530,984 | -€391,482 | -13.4% |
| Amounts payable after more than one year | 17 | €1,854,389 | €1,536,696 | -€317,694 | -17.1% |
| Financial debts | 170/4 | €914,389 | €1,536,696 | +€622,306 | +68.1% |
| Other amounts payable | 178/9 | €940,000 | - | -€940,000 | |
| Amounts payable within one year | 42/48 | €954,234 | €994,289 | +€40,054 | +4.2% |
| Current portion of amounts payable after more than one year | 42 | €321,188 | €317,694 | -€3,494 | -1.1% |
| Financial debts | 43 | €300,000 | €300,000 | = | 0.0% |
| Credit institutions | 430/8 | €300,000 | €300,000 | = | 0.0% |
| Trade debts | 44 | €102,169 | €30,485 | -€71,684 | -70.2% |
| Suppliers | 440/4 | €102,169 | €30,485 | -€71,684 | -70.2% |
| Taxes, remuneration and social security | 45 | €223,164 | €346,110 | +€122,947 | +55.1% |
| Taxes | 450/3 | €184,826 | €312,510 | +€127,684 | +69.1% |
| Remuneration and social security | 454/9 | €38,338 | €33,600 | -€4,737 | -12.4% |
| Other amounts payable | 47/48 | €7,714 | - | -€7,714 | |
| Accrued charges and deferred income | 492/3 | €113,842 | - | -€113,842 | |
| Remuneration, social security and pensions | 62 | €432,959 | €458,496 | +€25,537 | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €116,071 | €109,139 | -€6,931 | -6.0% |
| Other operating charges | 640/8 | €61,753 | €74,028 | +€12,275 | +19.9% |
| Non-recurring operating charges | 66A | - | €14 | +€14 | |
| Gross operating margin | 9900 | €1,207,125 | €1,175,596 | -€31,529 | -2.6% |
| Operating profit (loss) | 9901 | €596,343 | €533,918 | -€62,425 | -10.5% |
| Financial income | 75/76B | €40,001 | €37,829 | -€2,173 | -5.4% |
| Recurring financial income | 75 | €40,001 | €37,829 | -€2,173 | -5.4% |
| Financial charges | 65/66B | €72,610 | €61,844 | -€10,766 | -14.8% |
| Recurring financial charges | 65 | €72,610 | €61,844 | -€10,766 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | €563,734 | €509,902 | -€53,832 | -9.5% |
| Transfer from deferred taxes | 780 | €3,876 | €3,876 | = | 0.0% |
| Income taxes | 67/77 | €170,277 | €137,741 | -€32,536 | -19.1% |
| Profit (loss) for the period | 9904 | €397,333 | €376,038 | -€21,296 | -5.4% |
| Transfer from tax-exempt reserves | 789 | €22,346 | €22,346 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €419,679 | €398,383 | -€21,296 | -5.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.