VERBO: 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.
VERBO
Largest movements
- Stocks and contracts +€1.4m
up €1.4m (+81.0%), from €1.7m to €3.1m
- Cash -€587,337
down €587,337 (-94.7%), from €619,971 to €32,634
mainly Stocks and contracts (-€1.4m) and Receivables within one year (-€503,185)
- Receivables within one year +€503,185
up €503,185 (+6.1%), from €8.3m to €8.8m
of which Other amounts receivable: +€557,185
- Debts after one year +€900,000
up €900,000 (+90.0%), from €1.0m to €1.9m
- Reserves +€784,547
up €784,547 (+8.9%), from €8.8m to €9.6m
of which Distributable reserves: +€531,947
- Accrued charges and deferred income -€273,646
down €273,646 (-45.1%), from €607,186 to €333,541
- Gross operating margin +€1.1m
up €1.1m (+1890.5%), from €59,848 to €1.2m
- Taxes +€213,172
up €213,172 (+34555.4%), from €617 to €213,789
- Financial charges +€91,787
up €91,787 (+7272.3%), from €1,262 to €93,049
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 | €10,807,605 | €12,147,492 | +€1.3m | +12.4% |
| Fixed assets | 21/28 | €132,251 | €127,617 | -€4,634 | -3.5% |
| Tangible fixed assets | 22/27 | €46,161 | €41,527 | -€4,634 | -10.0% |
| Land and buildings | 22 | €36,615 | €35,090 | -€1,526 | -4.2% |
| Plant, machinery and equipment | 23 | €5,014 | €3,250 | -€1,764 | -35.2% |
| Furniture and vehicles | 24 | €4,531 | €3,187 | -€1,344 | -29.7% |
| Financial fixed assets | 28 | €86,090 | €86,090 | = | 0.0% |
| Current assets | 29/58 | €10,675,354 | €12,019,876 | +€1.3m | +12.6% |
| Stocks and contracts in progress | 3 | €1,709,138 | €3,093,724 | +€1.4m | +81.0% |
| Stocks | 30/36 | €1,709,138 | €3,093,724 | +€1.4m | +81.0% |
| Amounts receivable within one year | 40/41 | €8,306,465 | €8,809,650 | +€503,185 | +6.1% |
| Trade receivables | 40 | €54,000 | €0 | -€54,000 | -100.0% |
| Other amounts receivable | 41 | €8,252,464 | €8,809,650 | +€557,185 | +6.8% |
| Cash at bank and in hand | 54/58 | €619,971 | €32,634 | -€587,337 | -94.7% |
| Deferred charges and accrued income | 490/1 | €39,780 | €83,868 | +€44,088 | +110.8% |
| Total equity and liabilities | 10/49 | €10,807,605 | €12,147,492 | +€1.3m | +12.4% |
| Equity | 10/15 | €9,013,083 | €9,797,629 | +€784,547 | +8.7% |
| Contributions | 10/11 | €210,736 | €210,736 | = | 0.0% |
| Capital | 10 | €210,736 | €210,736 | = | 0.0% |
| Issued capital | 100 | €210,736 | €210,736 | = | 0.0% |
| Reserves | 13 | €8,802,346 | €9,586,893 | +€784,547 | +8.9% |
| Non-distributable reserves | 130/1 | €21,074 | €21,074 | = | 0.0% |
| Legal reserve | 130 | €21,074 | €21,074 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | €252,600 | +€252,600 | |
| Distributable reserves | 133 | €8,781,273 | €9,313,219 | +€531,947 | +6.1% |
| Amounts payable | 17/49 | €1,794,522 | €2,349,863 | +€555,341 | +30.9% |
| Amounts payable after more than one year | 17 | €1,000,000 | €1,900,000 | +€900,000 | +90.0% |
| Other amounts payable | 178/9 | €1,000,000 | €1,900,000 | +€900,000 | +90.0% |
| Amounts payable within one year | 42/48 | €187,336 | €116,323 | -€71,013 | -37.9% |
| Trade debts | 44 | €67,724 | €98,883 | +€31,159 | +46.0% |
| Suppliers | 440/4 | €67,724 | €98,883 | +€31,159 | +46.0% |
| Taxes, remuneration and social security | 45 | €117,617 | €15,046 | -€102,571 | -87.2% |
| Taxes | 450/3 | €109,365 | €3,932 | -€105,433 | -96.4% |
| Remuneration and social security | 454/9 | €8,252 | €11,114 | +€2,862 | +34.7% |
| Other amounts payable | 47/48 | €1,995 | €2,394 | +€399 | +20.0% |
| Accrued charges and deferred income | 492/3 | €607,186 | €333,541 | -€273,646 | -45.1% |
| Remuneration, social security and pensions | 62 | €90,263 | €96,661 | +€6,398 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,156 | €4,634 | +€479 | +11.5% |
| Other operating charges | 640/8 | €5,256 | €5,073 | -€183 | -3.5% |
| Gross operating margin | 9900 | €59,848 | €1,191,291 | +€1.1m | +1890.5% |
| Operating profit (loss) | 9901 | -€39,826 | €1,084,923 | +€1.1m | |
| Financial income | 75/76B | €7,240 | €6,462 | -€779 | -10.8% |
| Recurring financial income | 75 | €7,240 | €6,462 | -€779 | -10.8% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €1,262 | €93,049 | +€91,787 | +7272.3% |
| Recurring financial charges | 65 | €1,262 | €93,049 | +€91,787 | +7272.3% |
| Profit (loss) for the period before taxes | 9903 | -€33,848 | €998,336 | +€1.0m | |
| Income taxes | 67/77 | €617 | €213,789 | +€213,172 | +34555.4% |
| Profit (loss) for the period | 9904 | -€34,465 | €784,547 | +€819,012 | |
| Transfer from tax-exempt reserves | 789 | €808,320 | €0 | -€808,320 | -100.0% |
| Transfer to tax-exempt reserves | 689 | - | €252,600 | +€252,600 | |
| Profit (loss) for the period to be appropriated | 9905 | €773,855 | €531,947 | -€241,908 | -31.3% |
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 7 October 2026 via checked.be.