VERDAS: 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.
VERDAS
Largest movements
- Cash +€41,340
up €41,340 (+5958.6%), from €694 to €42,034
mainly Other debts (+€290,000) and Net result for the year (+€85,050)
- Tangible fixed assets -€28,500
down €28,500 (-11.1%), from €257,769 to €229,269
of which Land and buildings: -€19,002
- Other debts +€290,000
new in 2025: €290,000
- Reserves -€204,950
down €204,950 (-95.8%), from €213,983 to €9,034
- Debts after one year -€57,816
down €57,816 (-98.6%), from €58,610 to €794
of which Other amounts payable: -€57,816
- Trade debts -€10,350
down €10,350 (-24.2%), from €42,695 to €32,345
- Current portion of long-term debt -€4,293
down €4,293 (-100.0%), from €4,293 to €0
- Gross operating margin +€47,984
up €47,984 (+18.3%), from €262,140 to €310,124
- Staff costs -€22,736
down €22,736 (-12.7%), from €179,239 to €156,503
- Taxes +€14,509
up €14,509 (+182.1%), from €7,967 to €22,476
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 | €377,481 | €383,556 | +€6,075 | +1.6% |
| Fixed assets | 21/28 | €257,769 | €229,269 | -€28,500 | -11.1% |
| Tangible fixed assets | 22/27 | €257,769 | €229,269 | -€28,500 | -11.1% |
| Land and buildings | 22 | €236,893 | €217,891 | -€19,002 | -8.0% |
| Plant, machinery and equipment | 23 | €18,280 | €10,193 | -€8,087 | -44.2% |
| Furniture and vehicles | 24 | €2,596 | €1,185 | -€1,411 | -54.3% |
| Current assets | 29/58 | €119,711 | €154,287 | +€34,575 | +28.9% |
| Stocks and contracts in progress | 3 | €12,000 | €8,465 | -€3,535 | -29.5% |
| Contracts in progress | 37 | €12,000 | €8,465 | -€3,535 | -29.5% |
| Amounts receivable within one year | 40/41 | €103,907 | €101,617 | -€2,289 | -2.2% |
| Trade receivables | 40 | €98,043 | €92,163 | -€5,880 | -6.0% |
| Other amounts receivable | 41 | €5,863 | €9,454 | +€3,591 | +61.2% |
| Cash at bank and in hand | 54/58 | €694 | €42,034 | +€41,340 | +5958.6% |
| Deferred charges and accrued income | 490/1 | €3,111 | €2,170 | -€941 | -30.2% |
| Total equity and liabilities | 10/49 | €377,481 | €383,556 | +€6,075 | +1.6% |
| Equity | 10/15 | €253,983 | €49,034 | -€204,950 | -80.7% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €213,983 | €9,034 | -€204,950 | -95.8% |
| Distributable reserves | 133 | €213,983 | €9,034 | -€204,950 | -95.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €123,497 | €334,522 | +€211,025 | +170.9% |
| Amounts payable after more than one year | 17 | €58,610 | €794 | -€57,816 | -98.6% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €58,610 | €794 | -€57,816 | -98.6% |
| Amounts payable within one year | 42/48 | €64,887 | €333,728 | +€268,841 | +414.3% |
| Current portion of amounts payable after more than one year | 42 | €4,293 | €0 | -€4,293 | -100.0% |
| Financial debts | 43 | €2,956 | €0 | -€2,956 | -100.0% |
| Credit institutions | 430/8 | €2,956 | €0 | -€2,956 | -100.0% |
| Trade debts | 44 | €42,695 | €32,345 | -€10,350 | -24.2% |
| Suppliers | 440/4 | €42,695 | €32,345 | -€10,350 | -24.2% |
| Taxes, remuneration and social security | 45 | €14,943 | €11,383 | -€3,560 | -23.8% |
| Taxes | 450/3 | €2,227 | €180 | -€2,048 | -91.9% |
| Remuneration and social security | 454/9 | €12,716 | €11,204 | -€1,513 | -11.9% |
| Other amounts payable | 47/48 | - | €290,000 | +€290,000 | |
| Remuneration, social security and pensions | 62 | €179,239 | €156,503 | -€22,736 | -12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,203 | €36,686 | -€517 | -1.4% |
| Other operating charges | 640/8 | €6,442 | €7,364 | +€922 | +14.3% |
| Gross operating margin | 9900 | €262,140 | €310,124 | +€47,984 | +18.3% |
| Operating profit (loss) | 9901 | €39,255 | €109,571 | +€70,315 | +179.1% |
| Financial income | 75/76B | €6 | €26 | +€19 | +303.0% |
| Recurring financial income | 75 | €6 | €26 | +€19 | +303.0% |
| Financial charges | 65/66B | €4,885 | €2,070 | -€2,815 | -57.6% |
| Recurring financial charges | 65 | €4,885 | €2,070 | -€2,815 | -57.6% |
| Profit (loss) for the period before taxes | 9903 | €34,376 | €107,526 | +€73,150 | +212.8% |
| Income taxes | 67/77 | €7,967 | €22,476 | +€14,509 | +182.1% |
| Profit (loss) for the period | 9904 | €26,410 | €85,050 | +€58,641 | +222.0% |
| Profit (loss) for the period to be appropriated | 9905 | €26,410 | €85,050 | +€58,641 | +222.0% |
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.