VERBOVEN: 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.
What changed
VERBOVEN
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€830,201
2024 · €144,010+€686,191
Equity
€3.3m
2024 · €3.3m
Cash
€467
2024 · €1,087-€621
Balance sheet total
€6.5m
2024 · €5.9m+€669,532
Largest movements
Assets
- Receivables within one year +€997,050
up €997,050 (+189%), from €526,765 to €1.5m
of which Other amounts receivable: +€1.0m
- Tangible fixed assets -€328,721
down €328,721 (-6.2%), from €5.3m to €5.0m
of which Land and buildings: -€169,255
Equity and liabilities
- Other debts +€678,691
up €678,691 (+448%), from €151,510 to €830,201
Income statement
- Gross operating margin +€343,523
up €343,523 (+31.6%), from €1.1m to €1.4m
- Taxes +€130,398
up €130,398 (+194%), from €67,178 to €197,576
- Depreciation -€44,701
down €44,701 (-11.7%), from €380,634 to €335,933
- Other operating charges +€22,815
up €22,815 (+32.2%), from €70,806 to €93,621
- Financial income +€15,421
up €15,421 (+112%), from €13,798 to €29,219
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.
Result 2024
€144,010
Gross operating margin
+€343,523
Depreciation
+€44,701
Other operating charges
-€22,815
Other operating items
+€427,315
Financial income
+€15,421
Financial charges
+€8,443
Taxes
-€130,398
Result 2025
€830,201
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
+€836,793
Investment
-€7,212
Financing
-€830,201
Cash 2024
€1,087
From operations (derived)
+€836,793
Net result for the year
+€830,201
Depreciation
+€335,933
Receivables within one year
-€997,050
Deferred charges and accrued income
-€1,823
Trade debts
+€5,009
Tax, wage and social debts
-€14,168
Other debts
+€678,691
Investment (derived)
-€7,212
Investment in fixed assets (net)
-€7,212
Financing
-€830,201
Contributions, distributions and other
-€830,201
Cash 2025
€467
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,854,679 | €6,524,211 | +€669,532 | +11.4% |
| Fixed assets | 21/28 | €5,298,733 | €4,970,012 | -€328,721 | -6.2% |
| Tangible fixed assets | 22/27 | €5,298,308 | €4,969,587 | -€328,721 | -6.2% |
| Land and buildings | 22 | €4,566,787 | €4,397,532 | -€169,255 | -3.7% |
| Plant, machinery and equipment | 23 | €504,572 | €337,894 | -€166,678 | -33.0% |
| Assets under construction and advance payments | 27 | €226,949 | €234,161 | +€7,212 | +3.2% |
| Financial fixed assets | 28 | €425 | €425 | = | 0.0% |
| Current assets | 29/58 | €555,946 | €1,554,198 | +€998,252 | +180% |
| Amounts receivable within one year | 40/41 | €526,765 | €1,523,815 | +€997,050 | +189% |
| Trade receivables | 40 | €38,090 | €12,718 | -€25,371 | -66.6% |
| Other amounts receivable | 41 | €488,676 | €1,511,097 | +€1.0m | +209% |
| Cash at bank and in hand | 54/58 | €1,087 | €467 | -€621 | -57.1% |
| Deferred charges and accrued income | 490/1 | €28,093 | €29,916 | +€1,823 | +6.5% |
| Total equity and liabilities | 10/49 | €5,854,679 | €6,524,211 | +€669,532 | +11.4% |
| Equity | 10/15 | €3,315,804 | €3,315,804 | = | 0.0% |
| Contributions | 10/11 | €635,146 | €635,146 | = | 0.0% |
| Capital | 10 | €635,146 | €635,146 | = | 0.0% |
| Issued capital | 100 | €635,146 | €635,146 | = | 0.0% |
| Revaluation surpluses | 12 | €2,688 | €2,688 | = | 0.0% |
| Reserves | 13 | €2,677,970 | €2,677,970 | = | 0.0% |
| Non-distributable reserves | 130/1 | €101,393 | €101,393 | = | 0.0% |
| Legal reserve | 130 | €63,515 | €63,515 | = | 0.0% |
| Reserves not available under the articles | 1311 | - | €37,878 | +€37,878 | |
| Other | 1319 | €37,878 | - | -€37,878 | |
| Tax-exempt reserves | 132 | €707,731 | €707,731 | = | 0.0% |
| Distributable reserves | 133 | €1,868,846 | €1,868,846 | = | 0.0% |
| Provisions and deferred taxes | 16 | €867,626 | €867,626 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €867,626 | €867,626 | = | 0.0% |
| Environmental obligations | 163 | €867,626 | €867,626 | = | 0.0% |
| Amounts payable | 17/49 | €1,671,249 | €2,340,780 | +€669,532 | +40.1% |
| Amounts payable within one year | 42/48 | €246,249 | €915,780 | +€669,532 | +272% |
| Trade debts | 44 | €78,964 | €83,973 | +€5,009 | +6.3% |
| Suppliers | 440/4 | €78,964 | €83,973 | +€5,009 | +6.3% |
| Taxes, remuneration and social security | 45 | €15,775 | €1,607 | -€14,168 | -89.8% |
| Taxes | 450/3 | €15,775 | €1,607 | -€14,168 | -89.8% |
| Other amounts payable | 47/48 | €151,510 | €830,201 | +€678,691 | +448% |
| Accrued charges and deferred income | 492/3 | €1,425,000 | €1,425,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €380,634 | €335,933 | -€44,701 | -11.7% |
| Other operating charges | 640/8 | €70,806 | €93,621 | +€22,815 | +32.2% |
| Non-recurring operating charges | 66A | €427,315 | - | -€427,315 | |
| Gross operating margin | 9900 | €1,086,820 | €1,430,343 | +€343,523 | +31.6% |
| Operating profit (loss) | 9901 | €208,064 | €1,000,789 | +€792,724 | +381% |
| Financial income | 75/76B | €13,798 | €29,219 | +€15,421 | +112% |
| Recurring financial income | 75 | €13,798 | €29,219 | +€15,421 | +112% |
| Financial charges | 65/66B | €10,674 | €2,231 | -€8,443 | -79.1% |
| Recurring financial charges | 65 | €10,674 | €2,231 | -€8,443 | -79.1% |
| Profit (loss) for the period before taxes | 9903 | €211,188 | €1,027,777 | +€816,589 | +387% |
| Income taxes | 67/77 | €67,178 | €197,576 | +€130,398 | +194% |
| Profit (loss) for the period | 9904 | €144,010 | €830,201 | +€686,191 | +476% |
| Profit (loss) for the period to be appropriated | 9905 | €144,010 | €830,201 | +€686,191 | +476% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.