Verborgstads: 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.
Verborgstads
Largest movements
- Tangible fixed assets +€523,339
up €523,339 (+5657.6%), from €9,250 to €532,589
of which Land and buildings: +€522,067
- Cash -€271,896
down €271,896 (-56.9%), from €477,881 to €205,985
mainly Investment in fixed assets (net) (-€534,509) and Receivables within one year (-€264,043)
- Receivables within one year +€264,043
new in 2025: €264,043
of which Trade receivables: +€247,572
- Receivables after one year +€25,417
new in 2025: €25,417
- Debts after one year +€270,970
up €270,970 (+414.4%), from €65,396 to €336,367
- Reserves +€109,096
up €109,096 (+25.7%), from €424,859 to €533,955
- Profit (loss) carried forward +€84,465
up €84,465 (+10.4%), from €812,614 to €897,079
- Trade debts +€62,423
up €62,423 (+5789.5%), from €1,078 to €63,501
- Gross operating margin +€22,265
up €22,265 (+8.0%), from €278,696 to €300,961
- Depreciation +€10,460
up €10,460 (+1472.6%), from €710 to €11,170
- Financial charges +€7,658
up €7,658 (+169.2%), from €4,527 to €12,185
- Other operating charges +€4,524
up €4,524 (+2497.8%), from €181 to €4,705
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 | €1,495,479 | €2,035,797 | +€540,318 | +36.1% |
| Fixed assets | 21/28 | €1,016,844 | €1,540,183 | +€523,339 | +51.5% |
| Tangible fixed assets | 22/27 | €9,250 | €532,589 | +€523,339 | +5657.6% |
| Land and buildings | 22 | €9,250 | €531,317 | +€522,067 | +5643.8% |
| Plant, machinery and equipment | 23 | - | €1,272 | +€1,272 | |
| Financial fixed assets | 28 | €1,007,594 | €1,007,594 | = | 0.0% |
| Current assets | 29/58 | €478,635 | €495,614 | +€16,979 | +3.5% |
| Amounts receivable after more than one year | 29 | - | €25,417 | +€25,417 | |
| Other amounts receivable | 291 | - | €25,417 | +€25,417 | |
| Amounts receivable within one year | 40/41 | - | €264,043 | +€264,043 | |
| Trade receivables | 40 | - | €247,572 | +€247,572 | |
| Other amounts receivable | 41 | - | €16,471 | +€16,471 | |
| Cash at bank and in hand | 54/58 | €477,881 | €205,985 | -€271,896 | -56.9% |
| Deferred charges and accrued income | 490/1 | €753 | €169 | -€585 | -77.6% |
| Total equity and liabilities | 10/49 | €1,495,479 | €2,035,797 | +€540,318 | +36.1% |
| Equity | 10/15 | €1,287,473 | €1,481,034 | +€193,561 | +15.0% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €424,859 | €533,955 | +€109,096 | +25.7% |
| Distributable reserves | 133 | €424,859 | €533,955 | +€109,096 | +25.7% |
| Profit (loss) carried forward | 14 | €812,614 | €897,079 | +€84,465 | +10.4% |
| Amounts payable | 17/49 | €208,005 | €554,763 | +€346,757 | +166.7% |
| Amounts payable after more than one year | 17 | €65,396 | €336,367 | +€270,970 | +414.4% |
| Financial debts | 170/4 | €65,396 | €336,367 | +€270,970 | +414.4% |
| Amounts payable within one year | 42/48 | €142,593 | €218,396 | +€75,803 | +53.2% |
| Current portion of amounts payable after more than one year | 42 | €59,462 | €73,045 | +€13,584 | +22.8% |
| Trade debts | 44 | €1,078 | €63,501 | +€62,423 | +5789.5% |
| Suppliers | 440/4 | €1,078 | €63,501 | +€62,423 | +5789.5% |
| Taxes, remuneration and social security | 45 | €49,675 | €56,245 | +€6,570 | +13.2% |
| Taxes | 450/3 | €47,675 | €54,245 | +€6,570 | +13.8% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €32,378 | €25,604 | -€6,774 | -20.9% |
| Accrued charges and deferred income | 492/3 | €16 | - | -€16 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €710 | €11,170 | +€10,460 | +1472.6% |
| Other operating charges | 640/8 | €181 | €4,705 | +€4,524 | +2497.8% |
| Gross operating margin | 9900 | €278,696 | €300,961 | +€22,265 | +8.0% |
| Operating profit (loss) | 9901 | €277,805 | €285,086 | +€7,282 | +2.6% |
| Financial income | 75/76B | €0 | €433 | +€433 | +2164150.0% |
| Recurring financial income | 75 | €0 | €433 | +€433 | +2164150.0% |
| Financial charges | 65/66B | €4,527 | €12,185 | +€7,658 | +169.2% |
| Recurring financial charges | 65 | €4,527 | €12,185 | +€7,658 | +169.2% |
| Profit (loss) for the period before taxes | 9903 | €273,278 | €273,335 | +€56 | 0.0% |
| Income taxes | 67/77 | €81,149 | €79,774 | -€1,375 | -1.7% |
| Profit (loss) for the period | 9904 | €192,129 | €193,561 | +€1,432 | +0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €192,129 | €193,561 | +€1,432 | +0.7% |
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 6 October 2026 via checked.be.