Verado: 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.
Verado
Largest movements
- Cash +€54,787
up €54,787 (+103.4%), from €52,985 to €107,772
mainly Tax, wage and social debts (+€115,092) and Net result for the year (+€107,088)
- Intangible fixed assets -€30,726
down €30,726 (-10.2%), from €301,453 to €270,726
- Receivables within one year +€7,413
up €7,413 (+4.3%), from €173,576 to €180,989
of which Other amounts receivable: +€11,069
- Debts after one year -€119,348
down €119,348 (-51.2%), from €233,043 to €113,695
- Tax, wage and social debts +€115,092
up €115,092 (+140.1%), from €82,127 to €197,219
of which Remuneration and social security: +€63,588
- Reserves +€92,088
up €92,088 (+127.1%), from €72,447 to €164,535
- Trade debts -€56,409
down €56,409 (-69.1%), from €81,600 to €25,192
- Current portion of long-term debt +€6,673
up €6,673 (+11.6%), from €57,539 to €64,212
- Turnover +€1.0m
new in 2025: €1.0m
- Gross operating margin +€222,796
up €222,796 (+31.7%), from €703,057 to €925,853
- Staff costs +€121,262
up €121,262 (+19.3%), from €629,808 to €751,070
- Purchases and services +€117,580
new in 2025: €117,580
- Depreciation +€25,407
up €25,407 (+387.2%), from €6,561 to €31,968
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 | €535,715 | €567,761 | +€32,046 | +6.0% |
| Fixed assets | 21/28 | €307,008 | €276,900 | -€30,108 | -9.8% |
| Intangible fixed assets | 21 | €301,453 | €270,726 | -€30,726 | -10.2% |
| Tangible fixed assets | 22/27 | €5,555 | €6,173 | +€618 | +11.1% |
| Plant, machinery and equipment | 23 | €4,193 | €3,556 | -€637 | -15.2% |
| Furniture and vehicles | 24 | €1,362 | €2,617 | +€1,255 | +92.2% |
| Current assets | 29/58 | €228,707 | €290,861 | +€62,154 | +27.2% |
| Amounts receivable within one year | 40/41 | €173,576 | €180,989 | +€7,413 | +4.3% |
| Trade receivables | 40 | €154,537 | €150,881 | -€3,656 | -2.4% |
| Other amounts receivable | 41 | €19,039 | €30,107 | +€11,069 | +58.1% |
| Cash at bank and in hand | 54/58 | €52,985 | €107,772 | +€54,787 | +103.4% |
| Deferred charges and accrued income | 490/1 | €2,146 | €2,101 | -€45 | -2.1% |
| Total equity and liabilities | 10/49 | €535,715 | €567,761 | +€32,046 | +6.0% |
| Equity | 10/15 | €74,947 | €167,035 | +€92,088 | +122.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €72,447 | €164,535 | +€92,088 | +127.1% |
| Distributable reserves | 133 | €72,447 | €164,535 | +€92,088 | +127.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €460,768 | €400,726 | -€60,042 | -13.0% |
| Amounts payable after more than one year | 17 | €233,043 | €113,695 | -€119,348 | -51.2% |
| Financial debts | 170/4 | €233,043 | €113,695 | -€119,348 | -51.2% |
| Amounts payable within one year | 42/48 | €222,198 | €287,031 | +€64,833 | +29.2% |
| Current portion of amounts payable after more than one year | 42 | €57,539 | €64,212 | +€6,673 | +11.6% |
| Financial debts | 43 | €72 | €37 | -€36 | -49.2% |
| Credit institutions | 430/8 | €72 | €37 | -€36 | -49.2% |
| Trade debts | 44 | €81,600 | €25,192 | -€56,409 | -69.1% |
| Suppliers | 440/4 | €81,600 | €25,192 | -€56,409 | -69.1% |
| Taxes, remuneration and social security | 45 | €82,127 | €197,219 | +€115,092 | +140.1% |
| Taxes | 450/3 | €20,438 | €71,941 | +€51,503 | +252.0% |
| Remuneration and social security | 454/9 | €61,690 | €125,278 | +€63,588 | +103.1% |
| Other amounts payable | 47/48 | €859 | €372 | -€487 | -56.6% |
| Accrued charges and deferred income | 492/3 | €5,527 | €0 | -€5,527 | -100.0% |
| Turnover | 70 | - | €1,022,257 | +€1.0m | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €117,580 | +€117,580 | |
| Remuneration, social security and pensions | 62 | €629,808 | €751,070 | +€121,262 | +19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,561 | €31,968 | +€25,407 | +387.2% |
| Other operating charges | 640/8 | €794 | €944 | +€150 | +18.8% |
| Non-recurring operating charges | 66A | €553 | €0 | -€553 | -100.0% |
| Gross operating margin | 9900 | €703,057 | €925,853 | +€222,796 | +31.7% |
| Operating profit (loss) | 9901 | €65,340 | €141,871 | +€76,530 | +117.1% |
| Financial income | 75/76B | €910 | €405 | -€505 | -55.5% |
| Recurring financial income | 75 | €910 | €405 | -€505 | -55.5% |
| Financial charges | 65/66B | €3,756 | €7,672 | +€3,916 | +104.2% |
| Recurring financial charges | 65 | €3,756 | €7,672 | +€3,916 | +104.2% |
| Profit (loss) for the period before taxes | 9903 | €62,494 | €134,603 | +€72,109 | +115.4% |
| Income taxes | 67/77 | €15,838 | €27,515 | +€11,678 | +73.7% |
| Profit (loss) for the period | 9904 | €46,656 | €107,088 | +€60,431 | +129.5% |
| Profit (loss) for the period to be appropriated | 9905 | €46,656 | €107,088 | +€60,431 | +129.5% |
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 11 October 2026 via checked.be.