VERBA: what changed
What changed
VERBA
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€6,637
2024 · €9,569-€2,932
Equity
€207,050
2024 · €450,413-€243,363
Cash
€77,684
2024 · €73,854+€3,830
Balance sheet total
€403,211
2024 · €522,853-€119,642
Largest movements
Assets
- Receivables within one year -€69,936
down €69,936 (-66.2%), from €105,719 to €35,784
of which Trade receivables: -€48,886
- Tangible fixed assets -€53,907
down €53,907 (-15.9%), from €338,250 to €284,342
of which Land and buildings: -€31,613
Equity and liabilities
- Contributions -€250,000
down €250,000 (-93.1%), from €268,600 to €18,600
- Other debts +€135,024
new in 2025: €135,024
- Trade debts -€59,592
down €59,592 (-94.9%), from €62,824 to €3,232
- Debts after one year +€31,842
new in 2025: €31,842
- Current portion of long-term debt +€9,110
up €9,110 (+1,778%), from €512 to €9,623
Income statement
- Depreciation +€11,359
up €11,359 (+22.4%), from €50,696 to €62,055
- Gross operating margin +€11,124
up €11,124 (+15.7%), from €70,890 to €82,014
- Financial charges +€5,321
up €5,321 (+1,096%), from €485 to €5,807
- Taxes -€3,747
down €3,747 (-50.1%), from €7,476 to €3,729
- Financial income -€1,192
down €1,192 (-68.4%), from €1,743 to €551
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€9,569
Gross operating margin
+€11,124
Depreciation
-€11,359
Other operating charges
-€421
Other operating items
+€491
Financial income
-€1,192
Financial charges
-€5,321
Taxes
+€3,747
Result 2025
€6,637
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€221,025
Investment
-€8,148
Financing
-€209,047
Cash 2024
€73,854
From operations (derived)
+€221,025
Net result for the year
+€6,637
Depreciation
+€62,055
Receivables within one year
+€69,936
Deferred charges and accrued income
-€371
Trade debts
-€59,592
Tax, wage and social debts
+€2,985
Other debts
+€135,024
Accrued charges and deferred income
+€4,351
Investment (derived)
-€8,148
Investment in fixed assets (net)
-€8,148
Financing
-€209,047
Debts after one year
+€31,842
Current portion of long-term debt
+€9,110
Contributions, distributions and other
-€250,000
Cash 2025
€77,684
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €522,853 | €403,211 | -€119,642 | -22.9% |
| Fixed assets | 21/28 | €338,250 | €284,342 | -€53,907 | -15.9% |
| Tangible fixed assets | 22/27 | €338,250 | €284,342 | -€53,907 | -15.9% |
| Land and buildings | 22 | €256,482 | €224,870 | -€31,613 | -12.3% |
| Plant, machinery and equipment | 23 | €2,633 | €733 | -€1,900 | -72.2% |
| Furniture and vehicles | 24 | €79,135 | €58,740 | -€20,395 | -25.8% |
| Current assets | 29/58 | €184,603 | €118,869 | -€65,735 | -35.6% |
| Amounts receivable within one year | 40/41 | €105,719 | €35,784 | -€69,936 | -66.2% |
| Trade receivables | 40 | €81,436 | €32,550 | -€48,886 | -60.0% |
| Other amounts receivable | 41 | €24,283 | €3,233 | -€21,050 | -86.7% |
| Cash at bank and in hand | 54/58 | €73,854 | €77,684 | +€3,830 | +5.2% |
| Deferred charges and accrued income | 490/1 | €5,030 | €5,401 | +€371 | +7.4% |
| Total equity and liabilities | 10/49 | €522,853 | €403,211 | -€119,642 | -22.9% |
| Equity | 10/15 | €450,413 | €207,050 | -€243,363 | -54.0% |
| Contributions | 10/11 | €268,600 | €18,600 | -€250,000 | -93.1% |
| Reserves | 13 | €181,813 | €188,450 | +€6,637 | +3.7% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €125,563 | €132,200 | +€6,637 | +5.3% |
| Amounts payable | 17/49 | €72,440 | €196,162 | +€123,721 | +171% |
| Amounts payable after more than one year | 17 | - | €31,842 | +€31,842 | |
| Financial debts | 170/4 | - | €31,842 | +€31,842 | |
| Amounts payable within one year | 42/48 | €72,440 | €159,968 | +€87,528 | +121% |
| Current portion of amounts payable after more than one year | 42 | €512 | €9,623 | +€9,110 | +1,778% |
| Trade debts | 44 | €62,824 | €3,232 | -€59,592 | -94.9% |
| Suppliers | 440/4 | €62,824 | €3,232 | -€59,592 | -94.9% |
| Taxes, remuneration and social security | 45 | €9,104 | €12,089 | +€2,985 | +32.8% |
| Taxes | 450/3 | €9,104 | €12,089 | +€2,985 | +32.8% |
| Other amounts payable | 47/48 | - | €135,024 | +€135,024 | |
| Accrued charges and deferred income | 492/3 | - | €4,351 | +€4,351 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,696 | €62,055 | +€11,359 | +22.4% |
| Other operating charges | 640/8 | €3,333 | €3,755 | +€421 | +12.6% |
| Non-recurring operating charges | 66A | €1,074 | €582 | -€491 | -45.8% |
| Gross operating margin | 9900 | €70,890 | €82,014 | +€11,124 | +15.7% |
| Operating profit (loss) | 9901 | €15,788 | €15,622 | -€166 | -1.0% |
| Financial income | 75/76B | €1,743 | €551 | -€1,192 | -68.4% |
| Recurring financial income | 75 | €1,743 | €551 | -€1,192 | -68.4% |
| Financial charges | 65/66B | €485 | €5,807 | +€5,321 | +1,096% |
| Recurring financial charges | 65 | €485 | €5,807 | +€5,321 | +1,096% |
| Profit (loss) for the period before taxes | 9903 | €17,045 | €10,366 | -€6,679 | -39.2% |
| Income taxes | 67/77 | €7,476 | €3,729 | -€3,747 | -50.1% |
| Profit (loss) for the period | 9904 | €9,569 | €6,637 | -€2,932 | -30.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,569 | €6,637 | -€2,932 | -30.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.