VERBAT: what changed
What changed
VERBAT
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€65,527
2024 · €73,893-€8,365
Equity
€34,127
2024 · €24,887+€9,241
Cash
€33,730
2024 · €48,829-€15,099
Balance sheet total
€58,042
2024 · €152,170-€94,128
Largest movements
Assets
- Current investments -€75,000
down €75,000 (-100%), from €75,000 to €0
- Cash -€15,099
down €15,099 (-30.9%), from €48,829 to €33,730
mainly Other debts (-€108,661) and Contributions, distributions and other (-€56,287)
- Tangible fixed assets -€3,284
down €3,284 (-28.4%), from €11,582 to €8,298
Equity and liabilities
- Other debts -€108,661
down €108,661 (-90.2%), from €120,518 to €11,856
- Reserves +€9,241
up €9,241 (+147%), from €6,287 to €15,527
- Tax, wage and social debts +€4,137
up €4,137 (+67.0%), from €6,175 to €10,312
of which Taxes: +€4,382
Income statement
- Financial income -€5,552
down €5,552 (-65.0%), from €8,542 to €2,990
- Gross operating margin -€3,726
down €3,726 (-4.0%), from €92,429 to €88,703
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
€73,893
Gross operating margin
-€3,726
Depreciation
+€473
Other operating charges
-€8
Financial income
-€5,552
Financial charges
+€27
Taxes
+€421
Result 2025
€65,527
raises the resultlowers the result
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
-€31,901
Investment
+€73,088
Financing
-€56,287
Cash 2024
€48,829
From operations (derived)
-€31,901
Net result for the year
+€65,527
Depreciation
+€5,196
Receivables within one year
+€448
Deferred charges and accrued income
+€298
Trade debts
+€1,182
Tax, wage and social debts
+€4,137
Other debts
-€108,661
Accrued charges and deferred income
-€27
Investment (derived)
+€73,088
Investment in fixed assets (net)
-€1,912
Current investments
+€75,000
Financing
-€56,287
Contributions, distributions and other
-€56,287
Cash 2025
€33,730
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €152,170 | €58,042 | -€94,128 | -61.9% |
| Fixed assets | 21/28 | €11,582 | €8,298 | -€3,284 | -28.4% |
| Tangible fixed assets | 22/27 | €11,582 | €8,298 | -€3,284 | -28.4% |
| Furniture and vehicles | 24 | €11,582 | €8,298 | -€3,284 | -28.4% |
| Current assets | 29/58 | €140,588 | €49,743 | -€90,845 | -64.6% |
| Amounts receivable within one year | 40/41 | €16,151 | €15,704 | -€448 | -2.8% |
| Trade receivables | 40 | €13,709 | €13,257 | -€452 | -3.3% |
| Other amounts receivable | 41 | €2,442 | €2,447 | +€4 | +0.2% |
| Current investments | 50/53 | €75,000 | €0 | -€75,000 | -100% |
| Cash at bank and in hand | 54/58 | €48,829 | €33,730 | -€15,099 | -30.9% |
| Deferred charges and accrued income | 490/1 | €608 | €310 | -€298 | -49.0% |
| Total equity and liabilities | 10/49 | €152,170 | €58,042 | -€94,128 | -61.9% |
| Equity | 10/15 | €24,887 | €34,127 | +€9,241 | +37.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €6,287 | €15,527 | +€9,241 | +147% |
| Distributable reserves | 133 | €6,287 | €15,527 | +€9,241 | +147% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €127,284 | €23,914 | -€103,369 | -81.2% |
| Amounts payable within one year | 42/48 | €126,964 | €23,621 | -€103,342 | -81.4% |
| Trade debts | 44 | €271 | €1,453 | +€1,182 | +435% |
| Suppliers | 440/4 | €271 | €1,453 | +€1,182 | +435% |
| Taxes, remuneration and social security | 45 | €6,175 | €10,312 | +€4,137 | +67.0% |
| Taxes | 450/3 | €3,510 | €7,892 | +€4,382 | +125% |
| Remuneration and social security | 454/9 | €2,665 | €2,420 | -€245 | -9.2% |
| Other amounts payable | 47/48 | €120,518 | €11,856 | -€108,661 | -90.2% |
| Accrued charges and deferred income | 492/3 | €320 | €293 | -€27 | -8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,669 | €5,196 | -€473 | -8.3% |
| Other operating charges | 640/8 | €261 | €269 | +€8 | +3.0% |
| Gross operating margin | 9900 | €92,429 | €88,703 | -€3,726 | -4.0% |
| Operating profit (loss) | 9901 | €86,499 | €83,238 | -€3,261 | -3.8% |
| Financial income | 75/76B | €8,542 | €2,990 | -€5,552 | -65.0% |
| Recurring financial income | 75 | €8,542 | €2,990 | -€5,552 | -65.0% |
| Financial charges | 65/66B | €434 | €407 | -€27 | -6.2% |
| Recurring financial charges | 65 | €434 | €407 | -€27 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €94,608 | €85,822 | -€8,786 | -9.3% |
| Income taxes | 67/77 | €20,715 | €20,295 | -€421 | -2.0% |
| Profit (loss) for the period | 9904 | €73,893 | €65,527 | -€8,365 | -11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €73,893 | €65,527 | -€8,365 | -11.3% |
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.