VERDAIN: 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.
VERDAIN
Largest movements
- Cash -€78,770
down €78,770 (-42.7%), from €184,524 to €105,754
mainly Investment in fixed assets (net) (-€107,946) and Net result for the year (-€37,764)
- Tangible fixed assets +€74,699
up €74,699 (+62.7%), from €119,201 to €193,900
of which Furniture and vehicles: +€79,080
- Profit (loss) carried forward -€37,764
new in 2025: -€37,764
- Trade debts +€25,217
up €25,217 (+306.3%), from €8,233 to €33,450
- Debts after one year +€18,641
new in 2025: €18,641
- Tax, wage and social debts -€9,748
down €9,748 (-30.1%), from €32,433 to €22,685
of which Taxes: -€10,471
- Current portion of long-term debt +€7,251
new in 2025: €7,251
- Gross operating margin -€50,735
down €50,735 (-12.5%), from €406,047 to €355,312
- Staff costs +€47,379
up €47,379 (+15.4%), from €307,545 to €354,924
- Taxes -€21,048
down €21,048 (-97.9%), from €21,491 to €443
- Depreciation +€11,815
up €11,815 (+56.9%), from €20,757 to €32,572
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 | €333,183 | €333,019 | -€164 | 0.0% |
| Fixed assets | 21/28 | €119,201 | €194,575 | +€75,374 | +63.2% |
| Tangible fixed assets | 22/27 | €119,201 | €193,900 | +€74,699 | +62.7% |
| Land and buildings | 22 | €11,305 | €10,088 | -€1,216 | -10.8% |
| Plant, machinery and equipment | 23 | €37,672 | €35,264 | -€2,408 | -6.4% |
| Furniture and vehicles | 24 | €17,472 | €96,552 | +€79,080 | +452.6% |
| Other tangible fixed assets | 26 | €52,753 | €51,996 | -€757 | -1.4% |
| Financial fixed assets | 28 | - | €675 | +€675 | |
| Current assets | 29/58 | €213,981 | €138,443 | -€75,538 | -35.3% |
| Stocks and contracts in progress | 3 | €15,236 | €16,174 | +€938 | +6.2% |
| Stocks | 30/36 | €15,236 | €16,174 | +€938 | +6.2% |
| Amounts receivable within one year | 40/41 | €10,143 | €13,221 | +€3,078 | +30.3% |
| Trade receivables | 40 | - | €334 | +€334 | |
| Other amounts receivable | 41 | €10,143 | €12,887 | +€2,744 | +27.1% |
| Cash at bank and in hand | 54/58 | €184,524 | €105,754 | -€78,770 | -42.7% |
| Deferred charges and accrued income | 490/1 | €4,079 | €3,295 | -€784 | -19.2% |
| Total equity and liabilities | 10/49 | €333,183 | €333,019 | -€164 | 0.0% |
| Equity | 10/15 | €178,067 | €140,304 | -€37,764 | -21.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €171,867 | €171,867 | = | 0.0% |
| Distributable reserves | 133 | €171,867 | €171,867 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€37,764 | -€37,764 | |
| Amounts payable | 17/49 | €155,115 | €192,715 | +€37,600 | +24.2% |
| Amounts payable after more than one year | 17 | - | €18,641 | +€18,641 | |
| Financial debts | 170/4 | - | €18,641 | +€18,641 | |
| Amounts payable within one year | 42/48 | €155,115 | €174,074 | +€18,959 | +12.2% |
| Current portion of amounts payable after more than one year | 42 | - | €7,251 | +€7,251 | |
| Trade debts | 44 | €8,233 | €33,450 | +€25,217 | +306.3% |
| Suppliers | 440/4 | €8,233 | €33,450 | +€25,217 | +306.3% |
| Taxes, remuneration and social security | 45 | €32,433 | €22,685 | -€9,748 | -30.1% |
| Taxes | 450/3 | €14,763 | €4,292 | -€10,471 | -70.9% |
| Remuneration and social security | 454/9 | €17,670 | €18,393 | +€723 | +4.1% |
| Other amounts payable | 47/48 | €114,450 | €110,688 | -€3,762 | -3.3% |
| Non-recurring operating income | 76A | - | €10,841 | +€10,841 | |
| Remuneration, social security and pensions | 62 | €307,545 | €354,924 | +€47,379 | +15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,757 | €32,572 | +€11,815 | +56.9% |
| Other operating charges | 640/8 | €2,097 | €1,869 | -€228 | -10.9% |
| Gross operating margin | 9900 | €406,047 | €355,312 | -€50,735 | -12.5% |
| Operating profit (loss) | 9901 | €75,647 | -€34,054 | -€109,701 | |
| Financial income | 75/76B | €101 | €1 | -€100 | -98.9% |
| Recurring financial income | 75 | €101 | €1 | -€100 | -98.9% |
| Financial charges | 65/66B | €2,482 | €3,268 | +€786 | +31.7% |
| Recurring financial charges | 65 | €2,482 | €3,268 | +€786 | +31.7% |
| Profit (loss) for the period before taxes | 9903 | €73,266 | -€37,320 | -€110,587 | |
| Income taxes | 67/77 | €21,491 | €443 | -€21,048 | -97.9% |
| Profit (loss) for the period | 9904 | €51,775 | -€37,764 | -€89,539 | |
| Profit (loss) for the period to be appropriated | 9905 | €51,775 | -€37,764 | -€89,539 |
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 11 October 2026 via checked.be.