VERCONI: 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.
VERCONI
Largest movements
- Receivables within one year -€17,001
down €17,001 (-37.5%), from €45,314 to €28,314
of which Other amounts receivable: -€21,930
- Debts after one year -€163,600
down €163,600 (-29.6%), from €551,972 to €388,372
of which Financial debts: -€131,375
- Reserves +€113,763
up €113,763 (+17.3%), from €656,069 to €769,833
of which Distributable reserves: +€118,709
- Other debts -€66,028
down €66,028 (-44.9%), from €147,067 to €81,040
- Current portion of long-term debt +€61,898
up €61,898 (+100%), from €61,702 to €123,600
- Short-term financial debts +€20,000
new in 2025: €20,000
- Gross operating margin +€24,941
up €24,941 (+8.8%), from €282,171 to €307,112
- Other operating charges +€13,599
up €13,599 (+181%), from €7,501 to €21,100
- Taxes +€11,462
up €11,462 (+20.9%), from €54,949 to €66,410
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 | €1,598,165 | €1,574,642 | -€23,522 | -1.5% |
| Fixed assets | 21/28 | €1,537,531 | €1,538,253 | +€722 | 0.0% |
| Tangible fixed assets | 22/27 | €1,412,531 | €1,413,253 | +€722 | +0.1% |
| Land and buildings | 22 | €1,403,942 | €1,407,353 | +€3,411 | +0.2% |
| Plant, machinery and equipment | 23 | €8,589 | €5,900 | -€2,689 | -31.3% |
| Financial fixed assets | 28 | €125,000 | €125,000 | = | 0.0% |
| Current assets | 29/58 | €60,634 | €36,389 | -€24,244 | -40.0% |
| Amounts receivable within one year | 40/41 | €45,314 | €28,314 | -€17,001 | -37.5% |
| Trade receivables | 40 | €21,088 | €26,017 | +€4,929 | +23.4% |
| Other amounts receivable | 41 | €24,227 | €2,297 | -€21,930 | -90.5% |
| Cash at bank and in hand | 54/58 | €8,277 | €4,966 | -€3,312 | -40.0% |
| Deferred charges and accrued income | 490/1 | €7,042 | €3,110 | -€3,932 | -55.8% |
| Total equity and liabilities | 10/49 | €1,598,165 | €1,574,642 | -€23,522 | -1.5% |
| Equity | 10/15 | €780,383 | €894,147 | +€113,763 | +14.6% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €656,069 | €769,833 | +€113,763 | +17.3% |
| Tax-exempt reserves | 132 | €70,891 | €65,945 | -€4,946 | -7.0% |
| Distributable reserves | 133 | €585,179 | €703,888 | +€118,709 | +20.3% |
| Profit (loss) carried forward | 14 | €118,117 | €118,117 | = | 0.0% |
| Provisions and deferred taxes | 16 | €36,503 | €33,957 | -€2,547 | -7.0% |
| Deferred taxes | 168 | €36,503 | €33,957 | -€2,547 | -7.0% |
| Amounts payable | 17/49 | €781,278 | €646,539 | -€134,739 | -17.2% |
| Amounts payable after more than one year | 17 | €551,972 | €388,372 | -€163,600 | -29.6% |
| Financial debts | 170/4 | €378,265 | €246,890 | -€131,375 | -34.7% |
| Trade debts | 175 | €173,708 | €141,483 | -€32,225 | -18.6% |
| Amounts payable within one year | 42/48 | €229,306 | €258,167 | +€28,861 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €61,702 | €123,600 | +€61,898 | +100% |
| Financial debts | 43 | - | €20,000 | +€20,000 | |
| Other loans | 439 | - | €20,000 | +€20,000 | |
| Trade debts | 44 | €5,583 | €7,117 | +€1,534 | +27.5% |
| Suppliers | 440/4 | €5,583 | €7,117 | +€1,534 | +27.5% |
| Taxes, remuneration and social security | 45 | €14,954 | €26,410 | +€11,457 | +76.6% |
| Taxes | 450/3 | €14,949 | €26,410 | +€11,462 | +76.7% |
| Remuneration and social security | 454/9 | €5 | - | -€5 | |
| Other amounts payable | 47/48 | €147,067 | €81,040 | -€66,028 | -44.9% |
| Non-recurring operating income | 76A | - | €27,767 | +€27,767 | |
| Remuneration, social security and pensions | 62 | €1,073 | €1,363 | +€290 | +27.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,482 | €74,278 | +€2,796 | +3.9% |
| Other operating charges | 640/8 | €7,501 | €21,100 | +€13,599 | +181% |
| Gross operating margin | 9900 | €282,171 | €307,112 | +€24,941 | +8.8% |
| Operating profit (loss) | 9901 | €202,115 | €210,372 | +€8,257 | +4.1% |
| Financial charges | 65/66B | €31,444 | €32,745 | +€1,301 | +4.1% |
| Recurring financial charges | 65 | €31,444 | €32,745 | +€1,301 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | €170,671 | €177,627 | +€6,956 | +4.1% |
| Transfer from deferred taxes | 780 | €2,547 | €2,547 | = | 0.0% |
| Income taxes | 67/77 | €54,949 | €66,410 | +€11,462 | +20.9% |
| Profit (loss) for the period | 9904 | €118,269 | €113,763 | -€4,506 | -3.8% |
| Transfer from tax-exempt reserves | 789 | €4,946 | €4,946 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €123,215 | €118,709 | -€4,506 | -3.7% |
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 15 October 2026 via checked.be.