VERDA: 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.
VERDA
Largest movements
- Tangible fixed assets +€110,080
up €110,080 (+24.2%), from €455,303 to €565,383
of which Land and buildings: +€118,697
- Cash -€71,235
down €71,235 (-40.3%), from €176,901 to €105,666
mainly Investment in fixed assets (net) (-€155,063) and Advances received (-€95,279)
- Receivables within one year -€26,405
down €26,405 (-82.0%), from €32,201 to €5,796
of which Trade receivables: -€15,404
- Advances received -€95,279
down €95,279 (-29.5%), from €322,500 to €227,221
- Trade debts +€31,906
up €31,906 (+65.6%), from €48,639 to €80,545
- Debts after one year +€31,891
up €31,891 (+19.1%), from €167,027 to €198,918
- Tax, wage and social debts +€19,304
up €19,304 (+215.0%), from €8,978 to €28,282
of which Taxes: +€12,304
- Current portion of long-term debt +€12,170
up €12,170 (+28.2%), from €43,186 to €55,356
- Gross operating margin -€60,235
down €60,235 (-46.1%), from €130,733 to €70,498
- Depreciation +€24,375
up €24,375 (+118.3%), from €20,608 to €44,983
- Taxes -€10,150
down €10,150 (-68.7%), from €14,778 to €4,628
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 | €873,837 | €880,445 | +€6,608 | +0.8% |
| Fixed assets | 21/28 | €455,303 | €565,383 | +€110,080 | +24.2% |
| Tangible fixed assets | 22/27 | €455,303 | €565,383 | +€110,080 | +24.2% |
| Land and buildings | 22 | €252,385 | €371,082 | +€118,697 | +47.0% |
| Plant, machinery and equipment | 23 | €16,222 | €12,089 | -€4,133 | -25.5% |
| Furniture and vehicles | 24 | €51,075 | €45,841 | -€5,234 | -10.2% |
| Other tangible fixed assets | 26 | €135,621 | €136,371 | +€750 | +0.6% |
| Current assets | 29/58 | €418,534 | €315,062 | -€103,472 | -24.7% |
| Stocks and contracts in progress | 3 | €206,290 | €199,858 | -€6,432 | -3.1% |
| Contracts in progress | 37 | €206,290 | €199,858 | -€6,432 | -3.1% |
| Amounts receivable within one year | 40/41 | €32,201 | €5,796 | -€26,405 | -82.0% |
| Trade receivables | 40 | €21,200 | €5,796 | -€15,404 | -72.7% |
| Other amounts receivable | 41 | €11,001 | - | -€11,001 | |
| Cash at bank and in hand | 54/58 | €176,901 | €105,666 | -€71,235 | -40.3% |
| Deferred charges and accrued income | 490/1 | €3,142 | €3,742 | +€600 | +19.1% |
| Total equity and liabilities | 10/49 | €873,837 | €880,445 | +€6,608 | +0.8% |
| Equity | 10/15 | €267,575 | €275,249 | +€7,674 | +2.9% |
| Contributions | 10/11 | €12,900 | €12,900 | = | 0.0% |
| Reserves | 13 | €44,775 | €44,775 | = | 0.0% |
| Tax-exempt reserves | 132 | €42,875 | €42,875 | = | 0.0% |
| Distributable reserves | 133 | €1,900 | €1,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €209,900 | €217,574 | +€7,674 | +3.7% |
| Amounts payable | 17/49 | €606,262 | €605,196 | -€1,066 | -0.2% |
| Amounts payable after more than one year | 17 | €167,027 | €198,918 | +€31,891 | +19.1% |
| Financial debts | 170/4 | €167,027 | €198,918 | +€31,891 | +19.1% |
| Amounts payable within one year | 42/48 | €439,235 | €406,278 | -€32,957 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €43,186 | €55,356 | +€12,170 | +28.2% |
| Trade debts | 44 | €48,639 | €80,545 | +€31,906 | +65.6% |
| Suppliers | 440/4 | €48,639 | €80,545 | +€31,906 | +65.6% |
| Advances received on contracts in progress | 46 | €322,500 | €227,221 | -€95,279 | -29.5% |
| Taxes, remuneration and social security | 45 | €8,978 | €28,282 | +€19,304 | +215.0% |
| Taxes | 450/3 | €8,978 | €21,282 | +€12,304 | +137.0% |
| Remuneration and social security | 454/9 | - | €7,000 | +€7,000 | |
| Other amounts payable | 47/48 | €15,932 | €14,874 | -€1,058 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,608 | €44,983 | +€24,375 | +118.3% |
| Other operating charges | 640/8 | €3,684 | €4,372 | +€688 | +18.7% |
| Gross operating margin | 9900 | €130,733 | €70,498 | -€60,235 | -46.1% |
| Operating profit (loss) | 9901 | €106,441 | €21,143 | -€85,298 | -80.1% |
| Financial income | 75/76B | €2 | €138 | +€136 | +6800.0% |
| Recurring financial income | 75 | €2 | €138 | +€136 | +6800.0% |
| Financial charges | 65/66B | €8,776 | €8,979 | +€203 | +2.3% |
| Recurring financial charges | 65 | €8,776 | €8,979 | +€203 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | €97,667 | €12,302 | -€85,365 | -87.4% |
| Income taxes | 67/77 | €14,778 | €4,628 | -€10,150 | -68.7% |
| Profit (loss) for the period | 9904 | €82,889 | €7,674 | -€75,215 | -90.7% |
| Profit (loss) for the period to be appropriated | 9905 | €82,889 | €7,674 | -€75,215 | -90.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.