VERADA: 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.
VERADA
Largest movements
- Cash +€308,956
up €308,956 (+35.6%), from €866,694 to €1.2m
mainly Net result for the year (+€445,118) and Receivables within one year (+€187,306)
- Receivables within one year -€187,306
down €187,306 (-22.2%), from €841,856 to €654,550
of which Trade receivables: -€154,931
- Stocks and contracts +€78,304
up €78,304 (+25.1%), from €311,896 to €390,200
of which Contracts in progress: +€69,352
- Tangible fixed assets -€45,184
down €45,184 (-16.9%), from €267,024 to €221,840
of which Furniture and vehicles: -€28,245
- Reserves +€371,118
up €371,118 (+38.7%), from €960,044 to €1.3m
of which Tax-exempt reserves: +€185,991
- Other debts -€216,634
down €216,634 (-63.0%), from €343,794 to €127,160
- Advances received +€75,785
new in 2025: €75,785
- Debts after one year -€50,760
down €50,760 (-31.1%), from €163,220 to €112,460
- Gross operating margin +€152,930
up €152,930 (+9.3%), from €1.6m to €1.8m
- Staff costs +€129,433
up €129,433 (+13.3%), from €974,825 to €1.1m
- Other operating charges -€27,798
down €27,798 (-77.9%), from €35,664 to €7,867
- Depreciation +€26,916
up €26,916 (+43.5%), from €61,881 to €88,796
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 | €2,301,997 | €2,464,339 | +€162,342 | +7.1% |
| Fixed assets | 21/28 | €268,179 | €222,610 | -€45,569 | -17.0% |
| Intangible fixed assets | 21 | €1,155 | €770 | -€385 | -33.3% |
| Tangible fixed assets | 22/27 | €267,024 | €221,840 | -€45,184 | -16.9% |
| Land and buildings | 22 | €6,699 | €3,145 | -€3,554 | -53.0% |
| Plant, machinery and equipment | 23 | €122,105 | €108,720 | -€13,386 | -11.0% |
| Furniture and vehicles | 24 | €138,220 | €109,975 | -€28,245 | -20.4% |
| Current assets | 29/58 | €2,033,817 | €2,241,729 | +€207,911 | +10.2% |
| Stocks and contracts in progress | 3 | €311,896 | €390,200 | +€78,304 | +25.1% |
| Stocks | 30/36 | €151,337 | €160,290 | +€8,953 | +5.9% |
| Contracts in progress | 37 | €160,558 | €229,910 | +€69,352 | +43.2% |
| Amounts receivable within one year | 40/41 | €841,856 | €654,550 | -€187,306 | -22.2% |
| Trade receivables | 40 | €720,253 | €565,322 | -€154,931 | -21.5% |
| Other amounts receivable | 41 | €121,603 | €89,227 | -€32,375 | -26.6% |
| Cash at bank and in hand | 54/58 | €866,694 | €1,175,651 | +€308,956 | +35.6% |
| Deferred charges and accrued income | 490/1 | €13,371 | €21,328 | +€7,957 | +59.5% |
| Total equity and liabilities | 10/49 | €2,301,997 | €2,464,339 | +€162,342 | +7.1% |
| Equity | 10/15 | €980,044 | €1,351,162 | +€371,118 | +37.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €960,044 | €1,331,162 | +€371,118 | +38.7% |
| Tax-exempt reserves | 132 | €231,550 | €417,541 | +€185,991 | +80.3% |
| Distributable reserves | 133 | €728,494 | €913,621 | +€185,127 | +25.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,321,953 | €1,113,177 | -€208,776 | -15.8% |
| Amounts payable after more than one year | 17 | €163,220 | €112,460 | -€50,760 | -31.1% |
| Financial debts | 170/4 | €163,220 | €112,460 | -€50,760 | -31.1% |
| Amounts payable within one year | 42/48 | €1,157,914 | €999,537 | -€158,377 | -13.7% |
| Current portion of amounts payable after more than one year | 42 | €51,906 | €52,343 | +€438 | +0.8% |
| Trade debts | 44 | €651,233 | €638,727 | -€12,506 | -1.9% |
| Suppliers | 440/4 | €651,233 | €638,727 | -€12,506 | -1.9% |
| Advances received on contracts in progress | 46 | - | €75,785 | +€75,785 | |
| Taxes, remuneration and social security | 45 | €110,981 | €105,520 | -€5,461 | -4.9% |
| Taxes | 450/3 | €25,216 | €3,744 | -€21,472 | -85.2% |
| Remuneration and social security | 454/9 | €85,765 | €101,776 | +€16,011 | +18.7% |
| Other amounts payable | 47/48 | €343,794 | €127,160 | -€216,634 | -63.0% |
| Accrued charges and deferred income | 492/3 | €819 | €1,180 | +€361 | +44.1% |
| Remuneration, social security and pensions | 62 | €974,825 | €1,104,257 | +€129,433 | +13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,881 | €88,796 | +€26,916 | +43.5% |
| Other operating charges | 640/8 | €35,664 | €7,867 | -€27,798 | -77.9% |
| Non-recurring operating charges | 66A | €1,777 | €703 | -€1,075 | -60.5% |
| Gross operating margin | 9900 | €1,645,288 | €1,798,218 | +€152,930 | +9.3% |
| Operating profit (loss) | 9901 | €571,141 | €596,594 | +€25,453 | +4.5% |
| Financial income | 75/76B | €64,514 | €55,789 | -€8,724 | -13.5% |
| Recurring financial income | 75 | €64,514 | €55,789 | -€8,724 | -13.5% |
| Financial charges | 65/66B | €61,842 | €75,452 | +€13,611 | +22.0% |
| Recurring financial charges | 65 | €61,842 | €75,452 | +€13,611 | +22.0% |
| Profit (loss) for the period before taxes | 9903 | €573,813 | €576,931 | +€3,118 | +0.5% |
| Income taxes | 67/77 | €127,365 | €131,813 | +€4,448 | +3.5% |
| Profit (loss) for the period | 9904 | €446,448 | €445,118 | -€1,330 | -0.3% |
| Transfer from tax-exempt reserves | 789 | - | €24,509 | +€24,509 | |
| Transfer to tax-exempt reserves | 689 | €126,300 | €210,500 | +€84,200 | +66.7% |
| Profit (loss) for the period to be appropriated | 9905 | €320,148 | €259,127 | -€61,021 | -19.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.