VERBBAEL: 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.
VERBBAEL
Largest movements
- Tangible fixed assets +€610,496
up €610,496 (+85.8%), from €711,482 to €1.3m
of which Land and buildings: +€574,959
- Receivables within one year -€227,960
down €227,960 (-66.0%), from €345,184 to €117,224
of which Trade receivables: -€246,658
- Debts after one year +€395,263
up €395,263 (+103.4%), from €382,435 to €777,699
- Trade debts -€299,489
down €299,489 (-69.8%), from €429,371 to €129,882
- Other debts +€86,490
up €86,490 (+63.9%), from €135,458 to €221,947
- Investment grants +€81,853
up €81,853 (+1096.8%), from €7,463 to €89,315
- Profit (loss) carried forward +€53,523
up €53,523 (+50.1%), from €106,761 to €160,284
- Gross operating margin +€75,533
up €75,533 (+218.0%), from €34,646 to €110,179
- Financial charges +€19,418
up €19,418 (+453.5%), from €4,282 to €23,700
- Depreciation +€18,132
up €18,132 (+126.5%), from €14,332 to €32,464
- Other operating charges -€6,604
down €6,604 (-78.0%), from €8,466 to €1,862
- Financial income +€1,117
up €1,117 (+2997.6%), from €37 to €1,154
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 | €1,070,127 | €1,447,912 | +€377,785 | +35.3% |
| Fixed assets | 21/28 | €711,585 | €1,322,081 | +€610,496 | +85.8% |
| Tangible fixed assets | 22/27 | €711,482 | €1,321,978 | +€610,496 | +85.8% |
| Land and buildings | 22 | €711,482 | €1,286,442 | +€574,959 | +80.8% |
| Plant, machinery and equipment | 23 | - | €7,297 | +€7,297 | |
| Furniture and vehicles | 24 | - | €28,239 | +€28,239 | |
| Financial fixed assets | 28 | €102 | €102 | = | 0.0% |
| Current assets | 29/58 | €358,543 | €125,832 | -€232,711 | -64.9% |
| Amounts receivable within one year | 40/41 | €345,184 | €117,224 | -€227,960 | -66.0% |
| Trade receivables | 40 | €341,596 | €94,938 | -€246,658 | -72.2% |
| Other amounts receivable | 41 | €3,589 | €22,287 | +€18,698 | +521.0% |
| Cash at bank and in hand | 54/58 | €9,949 | €6,072 | -€3,878 | -39.0% |
| Deferred charges and accrued income | 490/1 | €3,409 | €2,536 | -€873 | -25.6% |
| Total equity and liabilities | 10/49 | €1,070,127 | €1,447,912 | +€377,785 | +35.3% |
| Equity | 10/15 | €120,424 | €255,799 | +€135,375 | +112.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €106,761 | €160,284 | +€53,523 | +50.1% |
| Investment grants | 15 | €7,463 | €89,315 | +€81,853 | +1096.8% |
| Provisions and deferred taxes | 16 | €2,440 | €29,724 | +€27,284 | +1118.3% |
| Deferred taxes | 168 | €2,440 | €29,724 | +€27,284 | +1118.3% |
| Amounts payable | 17/49 | €947,264 | €1,162,389 | +€215,126 | +22.7% |
| Amounts payable after more than one year | 17 | €382,435 | €777,699 | +€395,263 | +103.4% |
| Financial debts | 170/4 | €382,435 | €777,699 | +€395,263 | +103.4% |
| Amounts payable within one year | 42/48 | €564,828 | €384,691 | -€180,138 | -31.9% |
| Current portion of amounts payable after more than one year | 42 | - | €22,301 | +€22,301 | |
| Trade debts | 44 | €429,371 | €129,882 | -€299,489 | -69.8% |
| Suppliers | 440/4 | €429,371 | €129,882 | -€299,489 | -69.8% |
| Taxes, remuneration and social security | 45 | - | €10,560 | +€10,560 | |
| Taxes | 450/3 | - | €10,560 | +€10,560 | |
| Other amounts payable | 47/48 | €135,458 | €221,947 | +€86,490 | +63.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,332 | €32,464 | +€18,132 | +126.5% |
| Other operating charges | 640/8 | €8,466 | €1,862 | -€6,604 | -78.0% |
| Gross operating margin | 9900 | €34,646 | €110,179 | +€75,533 | +218.0% |
| Operating profit (loss) | 9901 | €11,848 | €75,853 | +€64,005 | +540.2% |
| Financial income | 75/76B | €37 | €1,154 | +€1,117 | +2997.6% |
| Recurring financial income | 75 | €37 | €1,154 | +€1,117 | +2997.6% |
| Financial charges | 65/66B | €4,282 | €23,700 | +€19,418 | +453.5% |
| Recurring financial charges | 65 | €4,282 | €23,700 | +€19,418 | +453.5% |
| Profit (loss) for the period before taxes | 9903 | €7,603 | €53,307 | +€45,704 | +601.1% |
| Transfer from deferred taxes | 780 | €60 | €216 | +€156 | +258.3% |
| Profit (loss) for the period | 9904 | €7,663 | €53,523 | +€45,859 | +598.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,663 | €53,523 | +€45,859 | +598.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.