VERBA: 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.
VERBA
Largest movements
- Cash +€397,898
up €397,898 (+80.5%), from €494,200 to €892,098
mainly Current investments (+€374,571) and Depreciation (+€52,888)
- Current investments -€374,571
down €374,571 (-34.7%), from €1.1m to €704,661
- Tangible fixed assets -€52,888
down €52,888 (-7.7%), from €688,904 to €636,017
of which Land and buildings: -€40,618
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€77,866
down €77,866 (-77.4%), from €100,623 to €22,757
- Taxes -€26,228
down €26,228 (-88.7%), from €29,559 to €3,330
- Financial charges -€16,940
down €16,940 (-89.0%), from €19,039 to €2,098
- Gross operating margin -€14,881
down €14,881 (-24.3%), from €61,142 to €46,261
- Other operating charges +€1,021
up €1,021 (+7.4%), from €13,791 to €14,812
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 | €2,266,364 | €2,248,744 | -€17,620 | -0.8% |
| Fixed assets | 21/28 | €688,904 | €636,017 | -€52,888 | -7.7% |
| Tangible fixed assets | 22/27 | €688,904 | €636,017 | -€52,888 | -7.7% |
| Land and buildings | 22 | €641,211 | €600,593 | -€40,618 | -6.3% |
| Plant, machinery and equipment | 23 | €1,977 | €1,645 | -€331 | -16.8% |
| Furniture and vehicles | 24 | €45,717 | €33,779 | -€11,938 | -26.1% |
| Current assets | 29/58 | €1,577,459 | €1,612,727 | +€35,268 | +2.2% |
| Amounts receivable within one year | 40/41 | - | €11,300 | +€11,300 | |
| Other amounts receivable | 41 | - | €11,300 | +€11,300 | |
| Current investments | 50/53 | €1,079,232 | €704,661 | -€374,571 | -34.7% |
| Cash at bank and in hand | 54/58 | €494,200 | €892,098 | +€397,898 | +80.5% |
| Deferred charges and accrued income | 490/1 | €4,027 | €4,668 | +€640 | +15.9% |
| Total equity and liabilities | 10/49 | €2,266,364 | €2,248,744 | -€17,620 | -0.8% |
| Equity | 10/15 | €2,152,083 | €2,153,912 | +€1,829 | +0.1% |
| Contributions | 10/11 | €24,780 | €24,780 | = | 0.0% |
| Reserves | 13 | €2,127,303 | €2,129,132 | +€1,829 | +0.1% |
| Tax-exempt reserves | 132 | €297,081 | €279,264 | -€17,817 | -6.0% |
| Distributable reserves | 133 | €1,830,222 | €1,849,868 | +€19,646 | +1.1% |
| Provisions and deferred taxes | 16 | €99,027 | €93,088 | -€5,939 | -6.0% |
| Deferred taxes | 168 | €99,027 | €93,088 | -€5,939 | -6.0% |
| Amounts payable | 17/49 | €15,253 | €1,744 | -€13,509 | -88.6% |
| Amounts payable within one year | 42/48 | €15,253 | €159 | -€15,094 | -99.0% |
| Trade debts | 44 | - | €156 | +€156 | |
| Suppliers | 440/4 | - | €156 | +€156 | |
| Taxes, remuneration and social security | 45 | €15,250 | €0 | -€15,250 | -100% |
| Taxes | 450/3 | €15,250 | €0 | -€15,250 | -100% |
| Other amounts payable | 47/48 | €3 | €3 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €1,585 | +€1,585 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,852 | €52,888 | -€964 | -1.8% |
| Other operating charges | 640/8 | €13,791 | €14,812 | +€1,021 | +7.4% |
| Gross operating margin | 9900 | €61,142 | €46,261 | -€14,881 | -24.3% |
| Operating profit (loss) | 9901 | -€6,501 | -€21,439 | -€14,937 | -230% |
| Financial income | 75/76B | €100,623 | €22,757 | -€77,866 | -77.4% |
| Recurring financial income | 75 | €100,623 | €22,757 | -€77,866 | -77.4% |
| Financial charges | 65/66B | €19,039 | €2,098 | -€16,940 | -89.0% |
| Recurring financial charges | 65 | €19,039 | €2,098 | -€16,940 | -89.0% |
| Profit (loss) for the period before taxes | 9903 | €75,083 | -€780 | -€75,863 | |
| Transfer from deferred taxes | 780 | €5,939 | €5,939 | = | 0.0% |
| Income taxes | 67/77 | €29,559 | €3,330 | -€26,228 | -88.7% |
| Profit (loss) for the period | 9904 | €51,464 | €1,829 | -€49,635 | -96.4% |
| Transfer from tax-exempt reserves | 789 | €17,817 | €17,817 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €69,281 | €19,646 | -€49,635 | -71.6% |
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 22 October 2026 via checked.be.