VERACT: 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.
VERACT
Largest movements
- Receivables within one year -€282,384
down €282,384 (-30.3%), from €931,680 to €649,297
of which Other amounts receivable: -€155,071
- Cash +€93,513
up €93,513 (+58.4%), from €160,120 to €253,633
mainly Receivables within one year (+€282,384) and Net result for the year (+€134,143)
- Tangible fixed assets -€25,085
down €25,085 (-4.3%), from €586,019 to €560,933
of which Land and buildings: -€23,712
- Other debts -€136,300
down €136,300 (-89.8%), from €151,803 to €15,503
- Debts after one year -€34,840
down €34,840 (-11.4%), from €306,568 to €271,728
- Reserves -€27,674
down €27,674 (-2.5%), from €1.1m to €1.1m
- Trade debts -€23,389
down €23,389 (-91.2%), from €25,648 to €2,259
- Gross operating margin -€456,016
down €456,016 (-68.3%), from €667,411 to €211,395
- Taxes -€156,953
down €156,953 (-70.5%), from €222,672 to €65,719
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 | €1,984,889 | €1,770,357 | -€214,531 | -10.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €586,019 | €560,933 | -€25,085 | -4.3% |
| Tangible fixed assets | 22/27 | €586,019 | €560,933 | -€25,085 | -4.3% |
| Land and buildings | 22 | €545,577 | €521,865 | -€23,712 | -4.3% |
| Plant, machinery and equipment | 23 | €6,229 | €2,734 | -€3,496 | -56.1% |
| Furniture and vehicles | 24 | €5,612 | €7,735 | +€2,123 | +37.8% |
| Other tangible fixed assets | 26 | €28,600 | €28,600 | = | 0.0% |
| Current assets | 29/58 | €1,398,870 | €1,209,424 | -€189,446 | -13.5% |
| Amounts receivable after more than one year | 29 | €300,000 | €300,000 | = | 0.0% |
| Other amounts receivable | 291 | €300,000 | €300,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €6,038 | €5,179 | -€859 | -14.2% |
| Stocks | 30/36 | €6,038 | €5,179 | -€859 | -14.2% |
| Amounts receivable within one year | 40/41 | €931,680 | €649,297 | -€282,384 | -30.3% |
| Trade receivables | 40 | €130,966 | €3,654 | -€127,312 | -97.2% |
| Other amounts receivable | 41 | €800,714 | €645,643 | -€155,071 | -19.4% |
| Current investments | 50/53 | - | €233 | +€233 | |
| Cash at bank and in hand | 54/58 | €160,120 | €253,633 | +€93,513 | +58.4% |
| Deferred charges and accrued income | 490/1 | €1,032 | €1,083 | +€51 | +5.0% |
| Total equity and liabilities | 10/49 | €1,984,889 | €1,770,357 | -€214,531 | -10.8% |
| Equity | 10/15 | €1,122,242 | €1,094,568 | -€27,674 | -2.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,109,842 | €1,082,168 | -€27,674 | -2.5% |
| Distributable reserves | 133 | €1,109,842 | €1,082,168 | -€27,674 | -2.5% |
| Amounts payable | 17/49 | €862,647 | €675,789 | -€186,857 | -21.7% |
| Amounts payable after more than one year | 17 | €306,568 | €271,728 | -€34,840 | -11.4% |
| Financial debts | 170/4 | €306,568 | €271,728 | -€34,840 | -11.4% |
| Amounts payable within one year | 42/48 | €556,079 | €404,062 | -€152,017 | -27.3% |
| Current portion of amounts payable after more than one year | 42 | €34,287 | €34,840 | +€553 | +1.6% |
| Trade debts | 44 | €25,648 | €2,259 | -€23,389 | -91.2% |
| Suppliers | 440/4 | €25,648 | €2,259 | -€23,389 | -91.2% |
| Taxes, remuneration and social security | 45 | €344,341 | €351,459 | +€7,118 | +2.1% |
| Taxes | 450/3 | €344,341 | €351,459 | +€7,118 | +2.1% |
| Other amounts payable | 47/48 | €151,803 | €15,503 | -€136,300 | -89.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,610 | €33,911 | +€1,301 | +4.0% |
| Other operating charges | 640/8 | €10,020 | €9,776 | -€243 | -2.4% |
| Non-recurring operating charges | 66A | - | €703 | +€703 | |
| Gross operating margin | 9900 | €667,411 | €211,395 | -€456,016 | -68.3% |
| Operating profit (loss) | 9901 | €624,782 | €167,004 | -€457,778 | -73.3% |
| Financial income | 75/76B | €41,197 | €41,724 | +€527 | +1.3% |
| Recurring financial income | 75 | €41,197 | €41,724 | +€527 | +1.3% |
| Financial charges | 65/66B | €10,850 | €8,865 | -€1,985 | -18.3% |
| Recurring financial charges | 65 | €10,850 | €8,865 | -€1,985 | -18.3% |
| Profit (loss) for the period before taxes | 9903 | €655,128 | €199,863 | -€455,266 | -69.5% |
| Income taxes | 67/77 | €222,672 | €65,719 | -€156,953 | -70.5% |
| Profit (loss) for the period | 9904 | €432,456 | €134,143 | -€298,313 | -69.0% |
| Profit (loss) for the period to be appropriated | 9905 | €432,456 | €134,143 | -€298,313 | -69.0% |
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 3 October 2026 via checked.be.