VERBACO: 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.
VERBACO
Largest movements
- Tangible fixed assets +€378,211
up €378,211 (+179.3%), from €210,964 to €589,174
- Receivables within one year -€63,166
down €63,166 (-80.7%), from €78,264 to €15,098
of which Other amounts receivable: -€66,166
- Other debts +€382,415
new in 2025: €382,415
- Profit (loss) carried forward -€66,474
down €66,474 (-72.5%), from -€91,644 to -€158,118
- Depreciation +€50,072
up €50,072 (+2043.7%), from €2,450 to €52,522
- Gross operating margin +€10,260
up €10,260 (+70.2%), from -€14,606 to -€4,346
- Other operating charges -€1,367
down €1,367 (-11.1%), from €12,261 to €10,894
- Financial charges +€846
up €846 (+475.2%), from €178 to €1,024
- Financial income -€834
down €834 (-40.5%), from €2,061 to €1,226
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €289,228 | €604,901 | +€315,674 | +109.1% |
| Fixed assets | 21/28 | €210,964 | €589,174 | +€378,211 | +179.3% |
| Tangible fixed assets | 22/27 | €210,964 | €589,174 | +€378,211 | +179.3% |
| Land and buildings | 22 | €210,964 | €589,174 | +€378,211 | +179.3% |
| Current assets | 29/58 | €78,264 | €15,727 | -€62,537 | -79.9% |
| Amounts receivable within one year | 40/41 | €78,264 | €15,098 | -€63,166 | -80.7% |
| Trade receivables | 40 | - | €3,000 | +€3,000 | |
| Other amounts receivable | 41 | €78,264 | €12,098 | -€66,166 | -84.5% |
| Deferred charges and accrued income | 490/1 | - | €629 | +€629 | |
| Total equity and liabilities | 10/49 | €289,228 | €604,901 | +€315,674 | +109.1% |
| Equity | 10/15 | €252,110 | €184,821 | -€67,289 | -26.7% |
| Contributions | 10/11 | €154,016 | €154,016 | = | 0.0% |
| Reserves | 13 | €189,737 | €188,923 | -€814 | -0.4% |
| Tax-exempt reserves | 132 | €103,347 | €102,533 | -€814 | -0.8% |
| Distributable reserves | 133 | €86,390 | €86,390 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€91,644 | -€158,118 | -€66,474 | -72.5% |
| Provisions and deferred taxes | 16 | €34,449 | €34,178 | -€271 | -0.8% |
| Deferred taxes | 168 | €34,449 | €34,178 | -€271 | -0.8% |
| Amounts payable | 17/49 | €2,669 | €385,903 | +€383,234 | +14359.2% |
| Amounts payable within one year | 42/48 | €169 | €383,403 | +€383,234 | +226899.7% |
| Trade debts | 44 | €169 | €987 | +€818 | +484.6% |
| Suppliers | 440/4 | €169 | €987 | +€818 | +484.6% |
| Other amounts payable | 47/48 | - | €382,415 | +€382,415 | |
| Accrued charges and deferred income | 492/3 | €2,500 | €2,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,450 | €52,522 | +€50,072 | +2043.7% |
| Other operating charges | 640/8 | €12,261 | €10,894 | -€1,367 | -11.1% |
| Gross operating margin | 9900 | -€14,606 | -€4,346 | +€10,260 | +70.2% |
| Operating profit (loss) | 9901 | -€29,317 | -€67,762 | -€38,445 | -131.1% |
| Financial income | 75/76B | €2,061 | €1,226 | -€834 | -40.5% |
| Recurring financial income | 75 | €2,061 | €1,226 | -€834 | -40.5% |
| Financial charges | 65/66B | €178 | €1,024 | +€846 | +475.2% |
| Recurring financial charges | 65 | €178 | €1,024 | +€846 | +475.2% |
| Profit (loss) for the period before taxes | 9903 | -€27,434 | -€67,560 | -€40,126 | -146.3% |
| Transfer from deferred taxes | 780 | - | €271 | +€271 | |
| Profit (loss) for the period | 9904 | -€27,434 | -€67,289 | -€39,854 | -145.3% |
| Transfer from tax-exempt reserves | 789 | - | €814 | +€814 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,434 | -€66,474 | -€39,040 | -142.3% |
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 2 October 2026 via checked.be.