VERBA: 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.
VERBA
Largest movements
- Tangible fixed assets +€421,797
up €421,797 (+286.5%), from €147,208 to €569,005
of which Land and buildings: +€449,752
- Current investments -€84,963
down €84,963 (-73.3%), from €115,964 to €31,001
- Cash +€21,979
up €21,979 (+70.2%), from €31,316 to €53,295
mainly Debts after one year (+€373,333) and Depreciation (+€101,802)
- Receivables within one year +€11,731
up €11,731 (+21.8%), from €53,729 to €65,460
of which Other amounts receivable: +€6,358
- Debts after one year +€373,333
up €373,333, from €0 to €373,333
- Current portion of long-term debt +€25,818
up €25,818 (+3044.0%), from €848 to €26,667
- Tax, wage and social debts -€17,053
down €17,053 (-53.4%), from €31,905 to €14,852
- Reserves -€14,287
down €14,287 (-4.5%), from €315,973 to €301,686
- Trade debts -€10,091
down €10,091 (-52.6%), from €19,176 to €9,085
- Depreciation +€66,826
up €66,826 (+191.1%), from €34,976 to €101,802
- Taxes -€30,589
down €30,589 (-80.0%), from €38,217 to €7,628
- Gross operating margin -€21,013
down €21,013 (-14.7%), from €142,621 to €121,608
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 | €400,694 | €767,586 | +€366,892 | +91.6% |
| Fixed assets | 21/28 | €152,875 | €575,628 | +€422,753 | +276.5% |
| Intangible fixed assets | 21 | €4,767 | €5,723 | +€956 | +20.1% |
| Tangible fixed assets | 22/27 | €147,208 | €569,005 | +€421,797 | +286.5% |
| Land and buildings | 22 | - | €449,752 | +€449,752 | |
| Plant, machinery and equipment | 23 | €48,834 | €42,274 | -€6,560 | -13.4% |
| Furniture and vehicles | 24 | €5,655 | €4,217 | -€1,438 | -25.4% |
| Other tangible fixed assets | 26 | €92,719 | €72,761 | -€19,957 | -21.5% |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €247,818 | €191,958 | -€55,861 | -22.5% |
| Stocks and contracts in progress | 3 | €38,784 | €38,784 | = | 0.0% |
| Stocks | 30/36 | €38,784 | €38,784 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €53,729 | €65,460 | +€11,731 | +21.8% |
| Trade receivables | 40 | €32,994 | €38,368 | +€5,373 | +16.3% |
| Other amounts receivable | 41 | €20,735 | €27,092 | +€6,358 | +30.7% |
| Current investments | 50/53 | €115,964 | €31,001 | -€84,963 | -73.3% |
| Cash at bank and in hand | 54/58 | €31,316 | €53,295 | +€21,979 | +70.2% |
| Deferred charges and accrued income | 490/1 | €8,026 | €3,419 | -€4,607 | -57.4% |
| Total equity and liabilities | 10/49 | €400,694 | €767,586 | +€366,892 | +91.6% |
| Equity | 10/15 | €339,523 | €325,236 | -€14,287 | -4.2% |
| Contributions | 10/11 | €23,550 | €23,550 | = | 0.0% |
| Reserves | 13 | €315,973 | €301,686 | -€14,287 | -4.5% |
| Distributable reserves | 133 | €315,973 | €301,686 | -€14,287 | -4.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €61,171 | €442,350 | +€381,179 | +623.1% |
| Amounts payable after more than one year | 17 | €0 | €373,333 | +€373,333 | |
| Financial debts | 170/4 | €0 | €373,333 | +€373,333 | |
| Amounts payable within one year | 42/48 | €61,171 | €69,017 | +€7,846 | +12.8% |
| Current portion of amounts payable after more than one year | 42 | €848 | €26,667 | +€25,818 | +3044.0% |
| Trade debts | 44 | €19,176 | €9,085 | -€10,091 | -52.6% |
| Suppliers | 440/4 | €19,176 | €9,085 | -€10,091 | -52.6% |
| Taxes, remuneration and social security | 45 | €31,905 | €14,852 | -€17,053 | -53.4% |
| Taxes | 450/3 | €31,905 | €14,852 | -€17,053 | -53.4% |
| Other amounts payable | 47/48 | €9,242 | €18,413 | +€9,171 | +99.2% |
| Remuneration, social security and pensions | 62 | €803 | €0 | -€803 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,976 | €101,802 | +€66,826 | +191.1% |
| Other operating charges | 640/8 | €2,071 | €3,131 | +€1,060 | +51.2% |
| Non-recurring operating charges | 66A | - | €198 | +€198 | |
| Gross operating margin | 9900 | €142,621 | €121,608 | -€21,013 | -14.7% |
| Operating profit (loss) | 9901 | €104,771 | €16,477 | -€88,295 | -84.3% |
| Financial income | 75/76B | €2,273 | €3,255 | +€983 | +43.2% |
| Recurring financial income | 75 | €2,273 | €3,255 | +€983 | +43.2% |
| Financial charges | 65/66B | €1,816 | €2,033 | +€218 | +12.0% |
| Recurring financial charges | 65 | €1,816 | €2,033 | +€218 | +12.0% |
| Profit (loss) for the period before taxes | 9903 | €105,228 | €17,699 | -€87,530 | -83.2% |
| Income taxes | 67/77 | €38,217 | €7,628 | -€30,589 | -80.0% |
| Profit (loss) for the period | 9904 | €67,011 | €10,071 | -€56,940 | -85.0% |
| Profit (loss) for the period to be appropriated | 9905 | €67,011 | €10,071 | -€56,940 | -85.0% |
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 4 October 2026 via checked.be.