VERANCO: 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.
What changed
VERANCO
NACE 43.320, Joinery installation
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.1m
2024 · €549,034+€544,033
Equity
€948,798
2024 · €355,731+€593,067
Cash
€417,044
2024 · €542,959-€125,916
Balance sheet total
€4.9m
2024 · €5.4m-€521,349
Largest movements
Assets
- Receivables within one year -€534,447
down €534,447 (-38.9%), from €1.4m to €838,226
of which Trade receivables: -€308,061
- Tangible fixed assets -€202,399
down €202,399 (-18.0%), from €1.1m to €921,545
of which Plant, machinery and equipment: -€201,549
- Current investments +€200,000
up €200,000 (+40.0%), from €500,000 to €700,000
- Financial fixed assets +€192,500
up €192,500 (+2566.7%), from €7,500 to €200,000
- Cash -€125,916
down €125,916 (-23.2%), from €542,959 to €417,044
mainly Trade debts (-€998,911) and Contributions, distributions and other (-€500,000)
Equity and liabilities
- Trade debts -€998,911
down €998,911 (-53.5%), from €1.9m to €867,455
- Other debts +€499,978
up €499,978 (+96181.2%), from €520 to €500,498
- Advances received -€484,597
down €484,597 (-39.4%), from €1.2m to €745,810
- Profit (loss) carried forward +€382,567
up €382,567 (+1265.8%), from €30,224 to €412,792
- Reserves +€210,500
up €210,500 (+93.0%), from €226,349 to €436,849
of which Tax-exempt reserves: +€210,500
Income statement
- Goods and materials -€1.1m
down €1.1m (-20.4%), from €5.6m to €4.4m
of which Purchases: -€1.2m
- Turnover -€1.1m
down €1.1m (-9.2%), from €12.4m to €11.2m
- Staff costs -€497,085
down €497,085 (-13.8%), from €3.6m to €3.1m
- Services and other goods -€294,177
down €294,177 (-9.3%), from €3.2m to €2.9m
- Write-downs -€228,025
down €228,025 (-68.6%), from €332,256 to €104,231
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.
Result 2024
€549,034
Turnover
-€1.1m
Other operating income
-€207,180
Goods and materials
+€1.1m
Services and other goods
+€294,177
Staff costs
+€497,085
Depreciation
+€20,246
Write-downs
+€228,025
Provisions
+€24,019
Other operating charges
+€52,389
Other operating items
-€334,991
Financial income
-€85,436
Financial charges
-€1,819
Taxes
+€56,292
Result 2025
€1.1m
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.
From operations
+€937,887
Investment
-€563,802
Financing
-€500,000
Cash 2024
€542,959
From operations (derived)
+€937,887
Net result for the year
+€1.1m
Depreciation
+€406,459
Stocks and contracts
+€36,120
Receivables within one year
+€534,447
Deferred charges and accrued income
-€17,791
Provisions
-€26,491
Trade debts
-€998,911
Tax, wage and social debts
-€104,395
Advances received
-€484,597
Other debts
+€499,978
Investment (derived)
-€563,802
Investment in fixed assets (net)
-€363,802
Current investments
-€200,000
Financing
-€500,000
Contributions, distributions and other
-€500,000
Cash 2025
€417,044
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,379,963 | €4,858,614 | -€521,349 | -9.7% |
| Fixed assets | 21/28 | €1,289,100 | €1,246,443 | -€42,657 | -3.3% |
| Intangible fixed assets | 21 | €157,655 | €124,897 | -€32,758 | -20.8% |
| Tangible fixed assets | 22/27 | €1,123,945 | €921,545 | -€202,399 | -18.0% |
| Plant, machinery and equipment | 23 | €804,648 | €603,098 | -€201,549 | -25.0% |
| Furniture and vehicles | 24 | €212,297 | €119,199 | -€93,098 | -43.9% |
| Other tangible fixed assets | 26 | €107,000 | €74,248 | -€32,752 | -30.6% |
| Assets under construction and advance payments | 27 | - | €125,000 | +€125,000 | |
| Financial fixed assets | 28 | €7,500 | €200,000 | +€192,500 | +2566.7% |
| Other financial fixed assets | 284/8 | €7,500 | €200,000 | +€192,500 | +2566.7% |
| Amounts receivable and cash guarantees | 285/8 | €7,500 | €200,000 | +€192,500 | +2566.7% |
| Current assets | 29/58 | €4,090,863 | €3,612,172 | -€478,692 | -11.7% |
| Stocks and contracts in progress | 3 | €1,667,543 | €1,631,423 | -€36,120 | -2.2% |
| Stocks | 30/36 | €1,667,543 | €1,631,423 | -€36,120 | -2.2% |
| Raw materials and consumables | 30/31 | €1,667,543 | €1,631,423 | -€36,120 | -2.2% |
| Advance payments | 36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,372,673 | €838,226 | -€534,447 | -38.9% |
| Trade receivables | 40 | €1,022,148 | €714,087 | -€308,061 | -30.1% |
| Other amounts receivable | 41 | €350,525 | €124,140 | -€226,385 | -64.6% |
| Current investments | 50/53 | €500,000 | €700,000 | +€200,000 | +40.0% |
| Other investments | 51/53 | €500,000 | €700,000 | +€200,000 | +40.0% |
| Cash at bank and in hand | 54/58 | €542,959 | €417,044 | -€125,916 | -23.2% |
| Deferred charges and accrued income | 490/1 | €7,688 | €25,479 | +€17,791 | +231.4% |
| Total equity and liabilities | 10/49 | €5,379,963 | €4,858,614 | -€521,349 | -9.7% |
| Equity | 10/15 | €355,731 | €948,798 | +€593,067 | +166.7% |
| Contributions | 10/11 | €99,157 | €99,157 | = | 0.0% |
| Capital | 10 | €99,157 | €99,157 | = | 0.0% |
| Issued capital | 100 | €99,157 | €99,157 | = | 0.0% |
| Reserves | 13 | €226,349 | €436,849 | +€210,500 | +93.0% |
| Non-distributable reserves | 130/1 | €15,849 | €15,849 | = | 0.0% |
| Legal reserve | 130 | €9,916 | €9,916 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,933 | €5,933 | = | 0.0% |
| Tax-exempt reserves | 132 | €210,500 | €421,000 | +€210,500 | +100.0% |
| Profit (loss) carried forward | 14 | €30,224 | €412,792 | +€382,567 | +1265.8% |
| Investment grants | 15 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €1,466,110 | €1,439,619 | -€26,491 | -1.8% |
| Provisions for liabilities and charges | 160/5 | €1,466,110 | €1,439,619 | -€26,491 | -1.8% |
| Pensions and similar obligations | 160 | €27,507 | €26,153 | -€1,354 | -4.9% |
| Other liabilities and charges | 164/5 | €1,438,603 | €1,413,466 | -€25,137 | -1.7% |
| Amounts payable | 17/49 | €3,558,122 | €2,470,197 | -€1.1m | -30.6% |
| Amounts payable after more than one year | 17 | €2,700 | €2,700 | = | 0.0% |
| Other amounts payable | 178/9 | €2,700 | €2,700 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,555,422 | €2,467,497 | -€1.1m | -30.6% |
| Trade debts | 44 | €1,866,365 | €867,455 | -€998,911 | -53.5% |
| Suppliers | 440/4 | €1,866,365 | €867,455 | -€998,911 | -53.5% |
| Advances received on contracts in progress | 46 | €1,230,407 | €745,810 | -€484,597 | -39.4% |
| Taxes, remuneration and social security | 45 | €458,129 | €353,734 | -€104,395 | -22.8% |
| Taxes | 450/3 | €101,961 | €78,495 | -€23,467 | -23.0% |
| Remuneration and social security | 454/9 | €356,168 | €275,240 | -€80,928 | -22.7% |
| Other amounts payable | 47/48 | €520 | €500,498 | +€499,978 | +96181.2% |
| Operating income | 70/76A | €13,905,968 | €12,236,807 | -€1.7m | -12.0% |
| Turnover | 70 | €12,378,285 | €11,241,773 | -€1.1m | -9.2% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €260,626 | -€35,598 | -€296,224 | |
| Own construction capitalised | 72 | €28,608 | €0 | -€28,608 | -100.0% |
| Other operating income | 74 | €1,237,400 | €1,030,220 | -€207,180 | -16.7% |
| Non-recurring operating income | 76A | €1,050 | €413 | -€637 | -60.7% |
| Operating charges | 60/66A | €13,220,640 | €10,976,483 | -€2.2m | -17.0% |
| Goods for resale, raw materials and consumables | 60 | €5,584,534 | €4,446,797 | -€1.1m | -20.4% |
| Purchases | 600/8 | €5,668,627 | €4,425,719 | -€1.2m | -21.9% |
| Change in stocks: decrease (increase) | 609 | -€84,093 | €21,078 | +€105,171 | |
| Services and other goods | 61 | €3,179,674 | €2,885,496 | -€294,177 | -9.3% |
| Remuneration, social security and pensions | 62 | €3,593,808 | €3,096,723 | -€497,085 | -13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €426,705 | €406,459 | -€20,246 | -4.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €332,256 | €104,231 | -€228,025 | -68.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€2,472 | -€26,491 | -€24,019 | -971.8% |
| Other operating charges | 640/8 | €102,662 | €50,273 | -€52,389 | -51.0% |
| Non-recurring operating charges | 66A | €3,474 | €12,996 | +€9,522 | +274.1% |
| Operating profit (loss) | 9901 | €685,328 | €1,260,324 | +€574,996 | +83.9% |
| Financial income | 75/76B | €115,330 | €29,894 | -€85,436 | -74.1% |
| Recurring financial income | 75 | €115,330 | €29,894 | -€85,436 | -74.1% |
| Income from current assets | 751 | €11,541 | €10,355 | -€1,187 | -10.3% |
| Other financial income | 752/9 | €103,789 | €19,540 | -€84,249 | -81.2% |
| Financial charges | 65/66B | €8,210 | €10,029 | +€1,819 | +22.2% |
| Recurring financial charges | 65 | €8,210 | €10,029 | +€1,819 | +22.2% |
| Other financial charges | 652/9 | €8,210 | €10,029 | +€1,819 | +22.2% |
| Profit (loss) for the period before taxes | 9903 | €792,448 | €1,280,189 | +€487,741 | +61.5% |
| Income taxes | 67/77 | €243,413 | €187,122 | -€56,292 | -23.1% |
| Taxes | 670/3 | €243,413 | €187,122 | -€56,292 | -23.1% |
| Profit (loss) for the period | 9904 | €549,034 | €1,093,067 | +€544,033 | +99.1% |
| Transfer to tax-exempt reserves | 689 | €0 | €210,500 | +€210,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €549,034 | €882,567 | +€333,533 | +60.7% |
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 1 October 2026 via checked.be.