VERBEMA: 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.
VERBEMA
Largest movements
- Cash -€246,570
down €246,570 (-53.8%), from €458,685 to €212,115
mainly Investment in fixed assets (net) (-€151,164) and Other debts (-€72,774)
- Financial fixed assets +€151,164
up €151,164 (+73.5%), from €205,734 to €356,898
- Tangible fixed assets -€17,468
down €17,468 (-3.8%), from €460,480 to €443,012
of which Land and buildings: -€17,209
- Other debts -€72,774
down €72,774 (-52.4%), from €139,000 to €66,226
- Reserves -€48,380
down €48,380 (-6.6%), from €737,601 to €689,221
of which Distributable reserves: -€40,767
- Financial income -€261,413
down €261,413 (-92.9%), from €281,413 to €20,000
of which Non-recurring financial income: -€261,413
- Taxes -€23,068
down €23,068 (-86.2%), from €26,777 to €3,709
- Gross operating margin +€1,290
up €1,290 (+7.7%), from €16,833 to €18,123
- Depreciation -€244
down €244 (-1.4%), from €17,712 to €17,468
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 | €1,135,120 | €1,012,057 | -€123,063 | -10.8% |
| Fixed assets | 21/28 | €666,214 | €799,910 | +€133,696 | +20.1% |
| Tangible fixed assets | 22/27 | €460,480 | €443,012 | -€17,468 | -3.8% |
| Land and buildings | 22 | €459,778 | €442,569 | -€17,209 | -3.7% |
| Plant, machinery and equipment | 23 | €344 | €205 | -€140 | -40.5% |
| Furniture and vehicles | 24 | €358 | €239 | -€119 | -33.4% |
| Financial fixed assets | 28 | €205,734 | €356,898 | +€151,164 | +73.5% |
| Current assets | 29/58 | €468,906 | €212,147 | -€256,759 | -54.8% |
| Amounts receivable within one year | 40/41 | €10,135 | €0 | -€10,135 | -100.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €10,135 | €0 | -€10,135 | -100.0% |
| Cash at bank and in hand | 54/58 | €458,685 | €212,115 | -€246,570 | -53.8% |
| Deferred charges and accrued income | 490/1 | €86 | €32 | -€54 | -63.0% |
| Total equity and liabilities | 10/49 | €1,135,120 | €1,012,057 | -€123,063 | -10.8% |
| Equity | 10/15 | €901,409 | €853,028 | -€48,380 | -5.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €737,601 | €689,221 | -€48,380 | -6.6% |
| Tax-exempt reserves | 132 | €135,263 | €127,650 | -€7,613 | -5.6% |
| Distributable reserves | 133 | €602,338 | €561,571 | -€40,767 | -6.8% |
| Profit (loss) carried forward | 14 | €145,257 | €145,257 | = | 0.0% |
| Provisions and deferred taxes | 16 | €69,650 | €65,730 | -€3,920 | -5.6% |
| Deferred taxes | 168 | €69,650 | €65,730 | -€3,920 | -5.6% |
| Amounts payable | 17/49 | €164,062 | €93,299 | -€70,763 | -43.1% |
| Amounts payable within one year | 42/48 | €163,804 | €92,744 | -€71,060 | -43.4% |
| Trade debts | 44 | €27 | €32 | +€4 | +16.3% |
| Suppliers | 440/4 | €27 | €32 | +€4 | +16.3% |
| Taxes, remuneration and social security | 45 | €24,777 | €26,486 | +€1,709 | +6.9% |
| Taxes | 450/3 | €24,777 | €26,486 | +€1,709 | +6.9% |
| Other amounts payable | 47/48 | €139,000 | €66,226 | -€72,774 | -52.4% |
| Accrued charges and deferred income | 492/3 | €258 | €555 | +€298 | +115.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,712 | €17,468 | -€244 | -1.4% |
| Other operating charges | 640/8 | €5,916 | €5,801 | -€115 | -1.9% |
| Gross operating margin | 9900 | €16,833 | €18,123 | +€1,290 | +7.7% |
| Operating profit (loss) | 9901 | -€6,795 | -€5,146 | +€1,649 | +24.3% |
| Financial income | 75/76B | €281,413 | €20,000 | -€261,413 | -92.9% |
| Recurring financial income | 75 | €20,000 | €20,000 | = | 0.0% |
| Non-recurring financial income | 76B | €261,413 | €0 | -€261,413 | -100.0% |
| Financial charges | 65/66B | €295 | €445 | +€150 | +51.0% |
| Recurring financial charges | 65 | €295 | €445 | +€150 | +51.0% |
| Profit (loss) for the period before taxes | 9903 | €274,323 | €14,408 | -€259,915 | -94.7% |
| Transfer from deferred taxes | 780 | €3,920 | €3,920 | = | 0.0% |
| Income taxes | 67/77 | €26,777 | €3,709 | -€23,068 | -86.2% |
| Profit (loss) for the period | 9904 | €251,466 | €14,620 | -€236,846 | -94.2% |
| Transfer from tax-exempt reserves | 789 | €7,613 | €7,613 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €259,079 | €22,233 | -€236,846 | -91.4% |
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.