VERAMA: 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.
VERAMA
Largest movements
- Current investments +€275,383
new in 2025: €275,383
- Cash -€186,061
down €186,061 (-37.2%), from €499,840 to €313,779
mainly Current investments (-€275,383) and Short-term financial debts (-€34,791)
- Tangible fixed assets -€14,747
down €14,747 (-34.6%), from €42,617 to €27,870
of which Furniture and vehicles: -€11,432
- Receivables within one year -€14,578
down €14,578 (-10.3%), from €141,808 to €127,230
of which Trade receivables: -€28,616
- Profit (loss) carried forward +€96,226
up €96,226 (+40.2%), from €239,096 to €335,322
- Short-term financial debts -€34,791
down €34,791 (-67.1%), from €51,879 to €17,088
- Accrued charges and deferred income +€17,053
up €17,053 (+27.6%), from €61,753 to €78,806
- Trade debts -€14,483
down €14,483 (-37.6%), from €38,480 to €23,997
- Gross operating margin -€81,267
down €81,267 (-17.5%), from €463,518 to €382,251
- Staff costs +€44,709
up €44,709 (+23.3%), from €191,568 to €236,277
- Taxes -€24,345
down €24,345 (-41.7%), from €58,420 to €34,075
- Other operating charges -€16,037
down €16,037 (-79.9%), from €20,060 to €4,023
- Depreciation -€10,301
down €10,301 (-38.2%), from €26,959 to €16,658
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 | €709,432 | €764,982 | +€55,549 | +7.8% |
| Fixed assets | 21/28 | €43,517 | €28,770 | -€14,747 | -33.9% |
| Tangible fixed assets | 22/27 | €42,617 | €27,870 | -€14,747 | -34.6% |
| Plant, machinery and equipment | 23 | €3,445 | €1,714 | -€1,731 | -50.3% |
| Furniture and vehicles | 24 | €33,843 | €22,411 | -€11,432 | -33.8% |
| Other tangible fixed assets | 26 | €5,329 | €3,745 | -€1,584 | -29.7% |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €665,915 | €736,212 | +€70,297 | +10.6% |
| Stocks and contracts in progress | 3 | €21,443 | €16,586 | -€4,858 | -22.7% |
| Stocks | 30/36 | €21,443 | €16,586 | -€4,858 | -22.7% |
| Amounts receivable within one year | 40/41 | €141,808 | €127,230 | -€14,578 | -10.3% |
| Trade receivables | 40 | €83,291 | €54,675 | -€28,616 | -34.4% |
| Other amounts receivable | 41 | €58,517 | €72,555 | +€14,038 | +24.0% |
| Current investments | 50/53 | - | €275,383 | +€275,383 | |
| Cash at bank and in hand | 54/58 | €499,840 | €313,779 | -€186,061 | -37.2% |
| Deferred charges and accrued income | 490/1 | €2,824 | €3,234 | +€410 | +14.5% |
| Total equity and liabilities | 10/49 | €709,432 | €764,982 | +€55,549 | +7.8% |
| Equity | 10/15 | €259,556 | €355,782 | +€96,226 | +37.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €239,096 | €335,322 | +€96,226 | +40.2% |
| Amounts payable | 17/49 | €449,876 | €409,200 | -€40,676 | -9.0% |
| Amounts payable after more than one year | 17 | €5,905 | €0 | -€5,905 | -100% |
| Financial debts | 170/4 | €5,905 | €0 | -€5,905 | -100% |
| Amounts payable within one year | 42/48 | €382,218 | €330,394 | -€51,824 | -13.6% |
| Current portion of amounts payable after more than one year | 42 | €12,343 | €6,876 | -€5,467 | -44.3% |
| Financial debts | 43 | €51,879 | €17,088 | -€34,791 | -67.1% |
| Credit institutions | 430/8 | €51,879 | €17,088 | -€34,791 | -67.1% |
| Trade debts | 44 | €38,480 | €23,997 | -€14,483 | -37.6% |
| Suppliers | 440/4 | €38,480 | €23,997 | -€14,483 | -37.6% |
| Taxes, remuneration and social security | 45 | €9,235 | €12,319 | +€3,084 | +33.4% |
| Taxes | 450/3 | €6 | €0 | -€6 | -100% |
| Remuneration and social security | 454/9 | €9,228 | €12,319 | +€3,091 | +33.5% |
| Other amounts payable | 47/48 | €270,281 | €270,114 | -€168 | -0.1% |
| Accrued charges and deferred income | 492/3 | €61,753 | €78,806 | +€17,053 | +27.6% |
| Remuneration, social security and pensions | 62 | €191,568 | €236,277 | +€44,709 | +23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,959 | €16,658 | -€10,301 | -38.2% |
| Other operating charges | 640/8 | €20,060 | €4,023 | -€16,037 | -79.9% |
| Non-recurring operating charges | 66A | - | €667 | +€667 | |
| Gross operating margin | 9900 | €463,518 | €382,251 | -€81,267 | -17.5% |
| Operating profit (loss) | 9901 | €224,930 | €124,626 | -€100,304 | -44.6% |
| Financial income | 75/76B | €12,763 | €8,048 | -€4,715 | -36.9% |
| Recurring financial income | 75 | €12,763 | €8,048 | -€4,715 | -36.9% |
| Financial charges | 65/66B | €9,606 | €2,373 | -€7,233 | -75.3% |
| Recurring financial charges | 65 | €9,606 | €2,373 | -€7,233 | -75.3% |
| Profit (loss) for the period before taxes | 9903 | €228,087 | €130,301 | -€97,786 | -42.9% |
| Income taxes | 67/77 | €58,420 | €34,075 | -€24,345 | -41.7% |
| Profit (loss) for the period | 9904 | €169,668 | €96,226 | -€73,442 | -43.3% |
| Profit (loss) for the period to be appropriated | 9905 | €169,668 | €96,226 | -€73,442 | -43.3% |
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 16 October 2026 via checked.be.