VERCLI: 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.
VERCLI
Largest movements
- Tangible fixed assets -€37,840
down €37,840 (-3.1%), from €1.2m to €1.2m
of which Land and buildings: -€27,806
- Debts after one year -€115,279
down €115,279 (-13.2%), from €873,761 to €758,482
- Reserves +€55,977
up €55,977 (+27.6%), from €203,064 to €259,042
of which Distributable reserves: +€59,190
- Current portion of long-term debt +€20,634
up €20,634 (+27.4%), from €75,231 to €95,865
- Gross operating margin +€13,007
up €13,007 (+9.2%), from €140,895 to €153,902
- Taxes +€10,342
up €10,342 (+65.6%), from €15,775 to €26,117
- Other operating charges -€6,156
down €6,156 (-60.8%), from €10,127 to €3,971
- Depreciation -€4,145
down €4,145 (-9.6%), from €43,284 to €39,139
- Financial income +€1,630
up €1,630 (+407,608%), from €0 to €1,631
of which Non-recurring financial income: +€1,630
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,251,506 | €1,207,063 | -€44,443 | -3.6% |
| Fixed assets | 21/28 | €1,213,610 | €1,175,770 | -€37,840 | -3.1% |
| Tangible fixed assets | 22/27 | €1,213,610 | €1,175,770 | -€37,840 | -3.1% |
| Land and buildings | 22 | €1,163,926 | €1,136,120 | -€27,806 | -2.4% |
| Plant, machinery and equipment | 23 | €3,251 | €3,917 | +€666 | +20.5% |
| Furniture and vehicles | 24 | €46,433 | €35,733 | -€10,700 | -23.0% |
| Current assets | 29/58 | €37,896 | €31,293 | -€6,603 | -17.4% |
| Amounts receivable within one year | 40/41 | €22,153 | €21,025 | -€1,128 | -5.1% |
| Trade receivables | 40 | €21,238 | €21,025 | -€213 | -1.0% |
| Other amounts receivable | 41 | €915 | €0 | -€915 | -100% |
| Cash at bank and in hand | 54/58 | €13,362 | €6,064 | -€7,298 | -54.6% |
| Deferred charges and accrued income | 490/1 | €2,381 | €4,204 | +€1,823 | +76.6% |
| Total equity and liabilities | 10/49 | €1,251,506 | €1,207,063 | -€44,443 | -3.6% |
| Equity | 10/15 | €223,079 | €279,061 | +€55,982 | +25.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €203,064 | €259,042 | +€55,977 | +27.6% |
| Tax-exempt reserves | 132 | €95,284 | €92,072 | -€3,213 | -3.4% |
| Distributable reserves | 133 | €107,780 | €166,970 | +€59,190 | +54.9% |
| Profit (loss) carried forward | 14 | €15 | €20 | +€5 | +31.4% |
| Provisions and deferred taxes | 16 | €23,821 | €23,018 | -€803 | -3.4% |
| Deferred taxes | 168 | €23,821 | €23,018 | -€803 | -3.4% |
| Amounts payable | 17/49 | €1,004,606 | €904,984 | -€99,622 | -9.9% |
| Amounts payable after more than one year | 17 | €873,761 | €758,482 | -€115,279 | -13.2% |
| Financial debts | 170/4 | €873,761 | €758,482 | -€115,279 | -13.2% |
| Amounts payable within one year | 42/48 | €129,215 | €146,455 | +€17,240 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | €75,231 | €95,865 | +€20,634 | +27.4% |
| Trade debts | 44 | €2,468 | €6,380 | +€3,912 | +159% |
| Suppliers | 440/4 | €2,468 | €6,380 | +€3,912 | +159% |
| Taxes, remuneration and social security | 45 | €37,231 | €42,146 | +€4,915 | +13.2% |
| Taxes | 450/3 | €37,231 | €38,596 | +€1,365 | +3.7% |
| Remuneration and social security | 454/9 | - | €3,550 | +€3,550 | |
| Other amounts payable | 47/48 | €14,285 | €2,063 | -€12,222 | -85.6% |
| Accrued charges and deferred income | 492/3 | €1,630 | €48 | -€1,583 | -97.1% |
| Non-recurring operating income | 76A | €23,500 | €0 | -€23,500 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,284 | €39,139 | -€4,145 | -9.6% |
| Other operating charges | 640/8 | €10,127 | €3,971 | -€6,156 | -60.8% |
| Non-recurring operating charges | 66A | - | €630 | +€630 | |
| Gross operating margin | 9900 | €140,895 | €153,902 | +€13,007 | +9.2% |
| Operating profit (loss) | 9901 | €87,484 | €110,162 | +€22,678 | +25.9% |
| Financial income | 75/76B | €0 | €1,631 | +€1,630 | +407,608% |
| Recurring financial income | 75 | €0 | €1 | +€0 | +25.0% |
| Non-recurring financial income | 76B | - | €1,630 | +€1,630 | |
| Financial charges | 65/66B | €26,315 | €26,817 | +€502 | +1.9% |
| Recurring financial charges | 65 | €26,315 | €26,817 | +€502 | +1.9% |
| Profit (loss) for the period before taxes | 9903 | €61,170 | €84,976 | +€23,807 | +38.9% |
| Transfer from deferred taxes | 780 | €803 | €803 | = | 0.0% |
| Income taxes | 67/77 | €15,775 | €26,117 | +€10,342 | +65.6% |
| Profit (loss) for the period | 9904 | €46,197 | €59,662 | +€13,465 | +29.1% |
| Transfer from tax-exempt reserves | 789 | €3,213 | €3,213 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €49,410 | €62,875 | +€13,465 | +27.3% |
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 25 October 2026 via checked.be.