VERAMO: 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.
VERAMO
Largest movements
- Current investments +€40,863
up €40,863 (+413.0%), from €9,895 to €50,758
- Cash -€20,438
down €20,438 (-9.4%), from €217,079 to €196,640
mainly Contributions, distributions and other (-€81,905) and Investment in fixed assets (net) (-€79,181)
- Receivables within one year +€14,399
up €14,399 (+34.7%), from €41,539 to €55,938
of which Trade receivables: +€8,070
- Reserves +€63,121
up €63,121 (+7.8%), from €809,989 to €873,110
of which Distributable reserves: +€63,121
- Tax, wage and social debts -€17,258
down €17,258 (-29.0%), from €59,546 to €42,289
of which Taxes: -€18,158
- Gross operating margin +€40,742
up €40,742 (+15.4%), from €264,386 to €305,128
- Taxes +€10,251
up €10,251 (+17.5%), from €58,681 to €68,932
- Depreciation +€9,006
up €9,006 (+12.0%), from €75,057 to €84,063
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 | €1,244,173 | €1,274,249 | +€30,076 | +2.4% |
| Fixed assets | 21/28 | €974,402 | €969,520 | -€4,882 | -0.5% |
| Tangible fixed assets | 22/27 | €974,402 | €969,520 | -€4,882 | -0.5% |
| Land and buildings | 22 | €796,402 | €762,127 | -€34,275 | -4.3% |
| Plant, machinery and equipment | 23 | €1,131 | €1,808 | +€676 | +59.8% |
| Furniture and vehicles | 24 | €23,431 | €72,449 | +€49,019 | +209.2% |
| Other tangible fixed assets | 26 | €153,438 | €133,136 | -€20,302 | -13.2% |
| Current assets | 29/58 | €269,772 | €304,730 | +€34,958 | +13.0% |
| Amounts receivable within one year | 40/41 | €41,539 | €55,938 | +€14,399 | +34.7% |
| Trade receivables | 40 | €41,539 | €49,609 | +€8,070 | +19.4% |
| Other amounts receivable | 41 | - | €6,329 | +€6,329 | |
| Current investments | 50/53 | €9,895 | €50,758 | +€40,863 | +413.0% |
| Cash at bank and in hand | 54/58 | €217,079 | €196,640 | -€20,438 | -9.4% |
| Deferred charges and accrued income | 490/1 | €1,258 | €1,393 | +€134 | +10.7% |
| Total equity and liabilities | 10/49 | €1,244,173 | €1,274,249 | +€30,076 | +2.4% |
| Equity | 10/15 | €828,589 | €891,710 | +€63,121 | +7.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €809,989 | €873,110 | +€63,121 | +7.8% |
| Tax-exempt reserves | 132 | €29,030 | €29,030 | = | 0.0% |
| Distributable reserves | 133 | €780,959 | €844,080 | +€63,121 | +8.1% |
| Amounts payable | 17/49 | €415,584 | €382,539 | -€33,045 | -8.0% |
| Amounts payable after more than one year | 17 | €90,555 | €83,889 | -€6,667 | -7.4% |
| Financial debts | 170/4 | €90,555 | €83,889 | -€6,667 | -7.4% |
| Amounts payable within one year | 42/48 | €322,535 | €296,527 | -€26,008 | -8.1% |
| Current portion of amounts payable after more than one year | 42 | €6,667 | €6,667 | = | 0.0% |
| Trade debts | 44 | €10,514 | €4,342 | -€6,172 | -58.7% |
| Suppliers | 440/4 | €10,514 | €4,342 | -€6,172 | -58.7% |
| Taxes, remuneration and social security | 45 | €59,546 | €42,289 | -€17,258 | -29.0% |
| Taxes | 450/3 | €55,296 | €37,139 | -€18,158 | -32.8% |
| Remuneration and social security | 454/9 | €4,250 | €5,150 | +€900 | +21.2% |
| Other amounts payable | 47/48 | €245,808 | €243,229 | -€2,579 | -1.0% |
| Accrued charges and deferred income | 492/3 | €2,494 | €2,124 | -€370 | -14.8% |
| Non-recurring operating income | 76A | €7,500 | - | -€7,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,057 | €84,063 | +€9,006 | +12.0% |
| Other operating charges | 640/8 | €4,958 | €4,917 | -€41 | -0.8% |
| Gross operating margin | 9900 | €264,386 | €305,128 | +€40,742 | +15.4% |
| Operating profit (loss) | 9901 | €184,371 | €216,147 | +€31,776 | +17.2% |
| Financial income | 75/76B | €298 | €1,316 | +€1,019 | +342.3% |
| Recurring financial income | 75 | €298 | €1,316 | +€1,019 | +342.3% |
| Financial charges | 65/66B | €5,117 | €3,506 | -€1,612 | -31.5% |
| Recurring financial charges | 65 | €5,117 | €3,506 | -€1,612 | -31.5% |
| Profit (loss) for the period before taxes | 9903 | €179,552 | €213,958 | +€34,407 | +19.2% |
| Income taxes | 67/77 | €58,681 | €68,932 | +€10,251 | +17.5% |
| Profit (loss) for the period | 9904 | €120,871 | €145,027 | +€24,156 | +20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €120,871 | €145,027 | +€24,156 | +20.0% |
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 5 October 2026 via checked.be.