VERAW: 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.
VERAW
Largest movements
- Current investments -€150,000
down €150,000 (-100.0%), from €150,000 to €0
- Cash +€144,781
up €144,781 (+74.6%), from €193,997 to €338,778
mainly Current investments (+€150,000) and Net result for the year (+€23,447)
- Tangible fixed assets +€27,440
up €27,440 (+213.5%), from €12,855 to €40,294
- Reserves +€16,400
up €16,400 (+29.9%), from €54,908 to €71,308
of which Distributable reserves: +€16,400
- Accrued charges and deferred income +€3,967
new in 2025: €3,967
- Financial income +€3,395
up €3,395 (+94.6%), from €3,590 to €6,985
- Financial charges -€1,641
down €1,641 (-29.3%), from €5,608 to €3,967
- Gross operating margin +€1,602
up €1,602 (+3.3%), from €48,760 to €50,361
- Taxes +€1,316
up €1,316 (+14.4%), from €9,166 to €10,482
- Depreciation +€1,054
up €1,054, from €0 to €1,054
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 | €360,268 | €380,302 | +€20,034 | +5.6% |
| Fixed assets | 21/28 | €14,085 | €41,524 | +€27,440 | +194.8% |
| Tangible fixed assets | 22/27 | €12,855 | €40,294 | +€27,440 | +213.5% |
| Land and buildings | 22 | €12,855 | €40,294 | +€27,440 | +213.5% |
| Financial fixed assets | 28 | €1,230 | €1,230 | = | 0.0% |
| Current assets | 29/58 | €346,184 | €338,778 | -€7,406 | -2.1% |
| Amounts receivable within one year | 40/41 | €2,187 | €0 | -€2,187 | -100.0% |
| Other amounts receivable | 41 | €2,187 | €0 | -€2,187 | -100.0% |
| Current investments | 50/53 | €150,000 | €0 | -€150,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €193,997 | €338,778 | +€144,781 | +74.6% |
| Total equity and liabilities | 10/49 | €360,268 | €380,302 | +€20,034 | +5.6% |
| Equity | 10/15 | €289,344 | €305,791 | +€16,447 | +5.7% |
| Contributions | 10/11 | €77,080 | €77,080 | = | 0.0% |
| Capital | 10 | €77,080 | €77,080 | = | 0.0% |
| Issued capital | 100 | €77,080 | €77,080 | = | 0.0% |
| Reserves | 13 | €54,908 | €71,308 | +€16,400 | +29.9% |
| Non-distributable reserves | 130/1 | €7,708 | €7,708 | = | 0.0% |
| Legal reserve | 130 | €7,708 | €7,708 | = | 0.0% |
| Distributable reserves | 133 | €47,200 | €63,600 | +€16,400 | +34.7% |
| Profit (loss) carried forward | 14 | €157,356 | €157,403 | +€47 | 0.0% |
| Amounts payable | 17/49 | €70,924 | €74,511 | +€3,587 | +5.1% |
| Amounts payable within one year | 42/48 | €70,924 | €70,544 | -€380 | -0.5% |
| Trade debts | 44 | €3,305 | €510 | -€2,795 | -84.6% |
| Suppliers | 440/4 | €3,305 | €510 | -€2,795 | -84.6% |
| Taxes, remuneration and social security | 45 | €7,080 | €5,900 | -€1,180 | -16.7% |
| Taxes | 450/3 | €7,080 | €5,900 | -€1,180 | -16.7% |
| Other amounts payable | 47/48 | €60,539 | €64,134 | +€3,595 | +5.9% |
| Accrued charges and deferred income | 492/3 | - | €3,967 | +€3,967 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €1,054 | +€1,054 | |
| Other operating charges | 640/8 | €17,876 | €18,397 | +€521 | +2.9% |
| Gross operating margin | 9900 | €48,760 | €50,361 | +€1,602 | +3.3% |
| Operating profit (loss) | 9901 | €30,884 | €30,911 | +€27 | +0.1% |
| Financial income | 75/76B | €3,590 | €6,985 | +€3,395 | +94.6% |
| Recurring financial income | 75 | €3,590 | €6,985 | +€3,395 | +94.6% |
| Financial charges | 65/66B | €5,608 | €3,967 | -€1,641 | -29.3% |
| Recurring financial charges | 65 | €5,608 | €3,967 | -€1,641 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | €28,865 | €33,929 | +€5,064 | +17.5% |
| Income taxes | 67/77 | €9,166 | €10,482 | +€1,316 | +14.4% |
| Profit (loss) for the period | 9904 | €19,699 | €23,447 | +€3,748 | +19.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,699 | €23,447 | +€3,748 | +19.0% |
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 10 October 2026 via checked.be.