Verdassur: 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.
Verdassur
Largest movements
- Cash +€773,711
up €773,711 (+1247.7%), from €62,009 to €835,720
mainly Advances received (+€775,870) and Net result for the year (+€21,272)
- Tangible fixed assets -€16,762
down €16,762 (-9.9%), from €169,588 to €152,827
of which Land and buildings: -€8,784
- Advances received +€775,870
new in 2025: €775,870
- Reserves +€21,272
up €21,272 (+11.9%), from €179,353 to €200,625
of which Distributable reserves: +€21,272
- Debts after one year -€16,274
down €16,274 (-30.9%), from €52,683 to €36,409
- Gross operating margin -€6,242
down €6,242 (-9.9%), from €63,061 to €56,819
- Taxes -€1,735
down €1,735 (-15.5%), from €11,171 to €9,436
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 | €301,673 | €1,064,311 | +€762,639 | +252.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €169,588 | €152,827 | -€16,762 | -9.9% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €169,588 | €152,827 | -€16,762 | -9.9% |
| Land and buildings | 22 | €151,884 | €143,100 | -€8,784 | -5.8% |
| Plant, machinery and equipment | 23 | €1,467 | €751 | -€716 | -48.8% |
| Furniture and vehicles | 24 | €16,237 | €8,975 | -€7,262 | -44.7% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Current assets | 29/58 | €132,085 | €911,485 | +€779,400 | +590.1% |
| Amounts receivable within one year | 40/41 | €62,705 | €64,243 | +€1,538 | +2.5% |
| Trade receivables | 40 | €61,367 | €59,678 | -€1,688 | -2.8% |
| Other amounts receivable | 41 | €1,338 | €4,564 | +€3,226 | +241.1% |
| Current investments | 50/53 | €350 | €350 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €62,009 | €835,720 | +€773,711 | +1247.7% |
| Deferred charges and accrued income | 490/1 | €7,021 | €11,172 | +€4,151 | +59.1% |
| Total equity and liabilities | 10/49 | €301,673 | €1,064,311 | +€762,639 | +252.8% |
| Equity | 10/15 | €197,953 | €219,225 | +€21,272 | +10.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €179,353 | €200,625 | +€21,272 | +11.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €14,467 | €14,467 | = | 0.0% |
| Distributable reserves | 133 | €164,886 | €186,159 | +€21,272 | +12.9% |
| Amounts payable | 17/49 | €103,719 | €845,086 | +€741,366 | +714.8% |
| Amounts payable after more than one year | 17 | €52,683 | €36,409 | -€16,274 | -30.9% |
| Financial debts | 170/4 | €52,683 | €36,409 | -€16,274 | -30.9% |
| Amounts payable within one year | 42/48 | €49,766 | €807,685 | +€757,919 | +1523.0% |
| Current portion of amounts payable after more than one year | 42 | €21,899 | €16,274 | -€5,625 | -25.7% |
| Trade debts | 44 | €4,517 | €980 | -€3,537 | -78.3% |
| Suppliers | 440/4 | €4,517 | €980 | -€3,537 | -78.3% |
| Advances received on contracts in progress | 46 | - | €775,870 | +€775,870 | |
| Taxes, remuneration and social security | 45 | €12,435 | €4,412 | -€8,023 | -64.5% |
| Taxes | 450/3 | €12,435 | €4,412 | -€8,023 | -64.5% |
| Other amounts payable | 47/48 | €10,915 | €10,148 | -€767 | -7.0% |
| Accrued charges and deferred income | 492/3 | €1,271 | €992 | -€279 | -21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,332 | €19,669 | +€337 | +1.7% |
| Other operating charges | 640/8 | €2,758 | €2,660 | -€98 | -3.6% |
| Gross operating margin | 9900 | €63,061 | €56,819 | -€6,242 | -9.9% |
| Operating profit (loss) | 9901 | €40,971 | €34,490 | -€6,481 | -15.8% |
| Financial income | 75/76B | €391 | €385 | -€6 | -1.6% |
| Recurring financial income | 75 | €391 | €385 | -€6 | -1.6% |
| Financial charges | 65/66B | €3,699 | €4,167 | +€468 | +12.7% |
| Recurring financial charges | 65 | €3,699 | €4,167 | +€468 | +12.7% |
| Profit (loss) for the period before taxes | 9903 | €37,664 | €30,708 | -€6,955 | -18.5% |
| Income taxes | 67/77 | €11,171 | €9,436 | -€1,735 | -15.5% |
| Profit (loss) for the period | 9904 | €26,492 | €21,272 | -€5,220 | -19.7% |
| Profit (loss) for the period to be appropriated | 9905 | €26,492 | €21,272 | -€5,220 | -19.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.