Verbu: 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.
Verbu
Largest movements
- Tangible fixed assets +€112,286
up €112,286 (+27.9%), from €402,875 to €515,161
of which Furniture and vehicles: +€71,830
- Cash +€62,021
up €62,021 (+321.8%), from €19,272 to €81,293
mainly Net result for the year (+€91,813) and Debts after one year (+€68,998)
- Receivables within one year +€31,335
up €31,335 (+94.4%), from €33,190 to €64,526
of which Trade receivables: +€37,059
- Reserves +€77,813
up €77,813 (+65.3%), from €119,107 to €196,920
- Debts after one year +€68,998
up €68,998 (+25.6%), from €269,760 to €338,757
- Current portion of long-term debt +€20,431
up €20,431 (+88.9%), from €22,977 to €43,408
- Trade debts +€17,870
up €17,870 (+1171.4%), from €1,526 to €19,396
- Other debts +€15,604
up €15,604 (+65.3%), from €23,897 to €39,501
- Gross operating margin +€75,027
up €75,027 (+65.2%), from €115,057 to €190,084
- Taxes +€20,939
up €20,939 (+156.7%), from €13,363 to €34,302
- Depreciation -€10,501
down €10,501 (-19.7%), from €53,255 to €42,754
- Financial charges +€7,308
up €7,308 (+82.7%), from €8,831 to €16,139
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 | €461,080 | €668,325 | +€207,245 | +44.9% |
| Fixed assets | 21/28 | €402,875 | €515,161 | +€112,286 | +27.9% |
| Tangible fixed assets | 22/27 | €402,875 | €515,161 | +€112,286 | +27.9% |
| Land and buildings | 22 | €372,596 | €374,148 | +€1,551 | +0.4% |
| Plant, machinery and equipment | 23 | €22,001 | €60,906 | +€38,905 | +176.8% |
| Furniture and vehicles | 24 | €8,277 | €80,107 | +€71,830 | +867.8% |
| Current assets | 29/58 | €58,205 | €153,164 | +€94,959 | +163.1% |
| Amounts receivable within one year | 40/41 | €33,190 | €64,526 | +€31,335 | +94.4% |
| Trade receivables | 40 | €21,648 | €58,707 | +€37,059 | +171.2% |
| Other amounts receivable | 41 | €11,543 | €5,819 | -€5,724 | -49.6% |
| Cash at bank and in hand | 54/58 | €19,272 | €81,293 | +€62,021 | +321.8% |
| Deferred charges and accrued income | 490/1 | €5,742 | €7,346 | +€1,603 | +27.9% |
| Total equity and liabilities | 10/49 | €461,080 | €668,325 | +€207,245 | +44.9% |
| Equity | 10/15 | €125,307 | €203,120 | +€77,813 | +62.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €119,107 | €196,920 | +€77,813 | +65.3% |
| Distributable reserves | 133 | €119,107 | €196,920 | +€77,813 | +65.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €335,773 | €465,205 | +€129,433 | +38.5% |
| Amounts payable after more than one year | 17 | €269,760 | €338,757 | +€68,998 | +25.6% |
| Financial debts | 170/4 | €269,760 | €338,757 | +€68,998 | +25.6% |
| Amounts payable within one year | 42/48 | €60,683 | €122,505 | +€61,822 | +101.9% |
| Current portion of amounts payable after more than one year | 42 | €22,977 | €43,408 | +€20,431 | +88.9% |
| Financial debts | 43 | €6,426 | €8,680 | +€2,254 | +35.1% |
| Credit institutions | 430/8 | - | €924 | +€924 | |
| Other loans | 439 | €6,426 | €7,757 | +€1,330 | +20.7% |
| Trade debts | 44 | €1,526 | €19,396 | +€17,870 | +1171.4% |
| Suppliers | 440/4 | €1,526 | €19,396 | +€17,870 | +1171.4% |
| Taxes, remuneration and social security | 45 | €5,857 | €11,519 | +€5,662 | +96.7% |
| Taxes | 450/3 | €5,857 | €11,519 | +€5,662 | +96.7% |
| Other amounts payable | 47/48 | €23,897 | €39,501 | +€15,604 | +65.3% |
| Accrued charges and deferred income | 492/3 | €5,330 | €3,943 | -€1,387 | -26.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,255 | €42,754 | -€10,501 | -19.7% |
| Other operating charges | 640/8 | €5,396 | €5,151 | -€245 | -4.5% |
| Gross operating margin | 9900 | €115,057 | €190,084 | +€75,027 | +65.2% |
| Operating profit (loss) | 9901 | €56,406 | €142,178 | +€85,772 | +152.1% |
| Financial income | 75/76B | €85 | €75 | -€10 | -12.0% |
| Recurring financial income | 75 | €85 | €75 | -€10 | -12.0% |
| Financial charges | 65/66B | €8,831 | €16,139 | +€7,308 | +82.7% |
| Recurring financial charges | 65 | €8,831 | €16,139 | +€7,308 | +82.7% |
| Profit (loss) for the period before taxes | 9903 | €47,660 | €126,114 | +€78,454 | +164.6% |
| Income taxes | 67/77 | €13,363 | €34,302 | +€20,939 | +156.7% |
| Profit (loss) for the period | 9904 | €34,298 | €91,813 | +€57,515 | +167.7% |
| Profit (loss) for the period to be appropriated | 9905 | €34,298 | €91,813 | +€57,515 | +167.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.