VERARTCO: 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.
VERARTCO
Largest movements
- Receivables within one year -€71,540
down €71,540 (-11.2%), from €639,196 to €567,656
of which Trade receivables: -€45,854
- Deferred charges and accrued income +€32,334
new in 2025: €32,334
- Cash +€24,309
up €24,309 (+88.8%), from €27,373 to €51,682
mainly Other debts (+€157,301) and Net result for the year (+€74,299)
- Other debts +€157,301
up €157,301 (+4208.7%), from €3,738 to €161,039
- Reserves -€152,775
down €152,775 (-12.5%), from €1.2m to €1.1m
- Contributions -€20,000
down €20,000 (-9.1%), from €220,000 to €200,000
- Staff costs +€17,786
up €17,786 (+5.8%), from €307,267 to €325,054
- Gross operating margin +€14,539
up €14,539 (+3.3%), from €434,451 to €448,990
- Depreciation -€6,200
down €6,200 (-23.3%), from €26,620 to €20,420
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 | €1,733,689 | €1,708,992 | -€24,697 | -1.4% |
| Fixed assets | 21/28 | €1,067,121 | €1,057,321 | -€9,800 | -0.9% |
| Tangible fixed assets | 22/27 | €42,604 | €32,804 | -€9,800 | -23.0% |
| Land and buildings | 22 | €24,637 | €24,356 | -€281 | -1.1% |
| Furniture and vehicles | 24 | €17,967 | €8,448 | -€9,519 | -53.0% |
| Financial fixed assets | 28 | €1,024,517 | €1,024,517 | = | 0.0% |
| Current assets | 29/58 | €666,569 | €651,671 | -€14,898 | -2.2% |
| Amounts receivable within one year | 40/41 | €639,196 | €567,656 | -€71,540 | -11.2% |
| Trade receivables | 40 | €140,201 | €94,347 | -€45,854 | -32.7% |
| Other amounts receivable | 41 | €498,995 | €473,309 | -€25,686 | -5.1% |
| Cash at bank and in hand | 54/58 | €27,373 | €51,682 | +€24,309 | +88.8% |
| Deferred charges and accrued income | 490/1 | - | €32,334 | +€32,334 | |
| Total equity and liabilities | 10/49 | €1,733,689 | €1,708,992 | -€24,697 | -1.4% |
| Equity | 10/15 | €1,442,599 | €1,269,824 | -€172,775 | -12.0% |
| Contributions | 10/11 | €220,000 | €200,000 | -€20,000 | -9.1% |
| Reserves | 13 | €1,222,599 | €1,069,824 | -€152,775 | -12.5% |
| Distributable reserves | 133 | €1,222,599 | €1,069,824 | -€152,775 | -12.5% |
| Amounts payable | 17/49 | €291,090 | €439,168 | +€148,078 | +50.9% |
| Amounts payable within one year | 42/48 | €172,240 | €320,318 | +€148,078 | +86.0% |
| Current portion of amounts payable after more than one year | 42 | €18,319 | €5,783 | -€12,536 | -68.4% |
| Trade debts | 44 | €29,831 | €30,242 | +€411 | +1.4% |
| Suppliers | 440/4 | €29,831 | €30,242 | +€411 | +1.4% |
| Taxes, remuneration and social security | 45 | €120,353 | €123,254 | +€2,902 | +2.4% |
| Taxes | 450/3 | €56,671 | €57,740 | +€1,069 | +1.9% |
| Remuneration and social security | 454/9 | €63,682 | €65,515 | +€1,833 | +2.9% |
| Other amounts payable | 47/48 | €3,738 | €161,039 | +€157,301 | +4208.7% |
| Accrued charges and deferred income | 492/3 | €118,850 | €118,850 | = | 0.0% |
| Non-recurring operating income | 76A | €2,500 | €6,281 | +€3,781 | +151.2% |
| Remuneration, social security and pensions | 62 | €307,267 | €325,054 | +€17,786 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,620 | €20,420 | -€6,200 | -23.3% |
| Other operating charges | 640/8 | €1,447 | €2,199 | +€752 | +51.9% |
| Gross operating margin | 9900 | €434,451 | €448,990 | +€14,539 | +3.3% |
| Operating profit (loss) | 9901 | €99,117 | €101,318 | +€2,201 | +2.2% |
| Financial income | 75/76B | €7,330 | €7,331 | +€0 | 0.0% |
| Recurring financial income | 75 | €7,330 | €7,331 | +€0 | 0.0% |
| Financial charges | 65/66B | €2,581 | €1,537 | -€1,044 | -40.5% |
| Recurring financial charges | 65 | €2,581 | €1,537 | -€1,044 | -40.5% |
| Profit (loss) for the period before taxes | 9903 | €103,866 | €107,111 | +€3,245 | +3.1% |
| Income taxes | 67/77 | €30,973 | €32,812 | +€1,839 | +5.9% |
| Profit (loss) for the period | 9904 | €72,893 | €74,299 | +€1,406 | +1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €72,893 | €74,299 | +€1,406 | +1.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.