VERDE: 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.
VERDE
Largest movements
- Cash -€55,466
down €55,466 (-44.7%), from €124,055 to €68,589
mainly Debts after one year (-€68,926) and Other debts (-€35,566)
- Tangible fixed assets -€43,001
down €43,001 (-4.3%), from €993,666 to €950,666
of which Land and buildings: -€39,857
- Receivables within one year -€37,317
down €37,317 (-17.9%), from €208,314 to €170,997
of which Trade receivables: -€46,549
- Debts after one year -€68,926
down €68,926 (-6.8%), from €1.0m to €940,174
- Other debts -€35,566
down €35,566 (-98.2%), from €36,233 to €667
- Reserves -€31,406
down €31,406 (-20.6%), from €152,452 to €121,046
of which Distributable reserves: -€31,406
- Short-term financial debts -€25,000
down €25,000 (-8.3%), from €300,000 to €275,000
- Staff costs +€43,883
up €43,883 (+12.0%), from €365,399 to €409,282
- Gross operating margin +€8,249
up €8,249 (+1.7%), from €499,328 to €507,577
- Financial charges -€5,866
down €5,866 (-10.2%), from €57,587 to €51,721
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 | €1,989,159 | €1,834,574 | -€154,584 | -7.8% |
| Fixed assets | 21/28 | €993,666 | €950,666 | -€43,001 | -4.3% |
| Tangible fixed assets | 22/27 | €993,666 | €950,666 | -€43,001 | -4.3% |
| Land and buildings | 22 | €913,888 | €874,032 | -€39,857 | -4.4% |
| Plant, machinery and equipment | 23 | €60,423 | €57,790 | -€2,633 | -4.4% |
| Furniture and vehicles | 24 | €19,355 | €18,844 | -€511 | -2.6% |
| Current assets | 29/58 | €995,492 | €883,909 | -€111,584 | -11.2% |
| Stocks and contracts in progress | 3 | €659,450 | €640,363 | -€19,087 | -2.9% |
| Stocks | 30/36 | €659,450 | €640,363 | -€19,087 | -2.9% |
| Amounts receivable within one year | 40/41 | €208,314 | €170,997 | -€37,317 | -17.9% |
| Trade receivables | 40 | €207,214 | €160,665 | -€46,549 | -22.5% |
| Other amounts receivable | 41 | €1,100 | €10,332 | +€9,231 | +839% |
| Cash at bank and in hand | 54/58 | €124,055 | €68,589 | -€55,466 | -44.7% |
| Deferred charges and accrued income | 490/1 | €3,674 | €3,960 | +€286 | +7.8% |
| Total equity and liabilities | 10/49 | €1,989,159 | €1,834,574 | -€154,584 | -7.8% |
| Equity | 10/15 | €171,052 | €139,646 | -€31,406 | -18.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €152,452 | €121,046 | -€31,406 | -20.6% |
| Tax-exempt reserves | 132 | €16,650 | €16,650 | = | 0.0% |
| Distributable reserves | 133 | €135,802 | €104,396 | -€31,406 | -23.1% |
| Amounts payable | 17/49 | €1,818,106 | €1,694,928 | -€123,178 | -6.8% |
| Amounts payable after more than one year | 17 | €1,009,100 | €940,174 | -€68,926 | -6.8% |
| Financial debts | 170/4 | €1,009,100 | €940,174 | -€68,926 | -6.8% |
| Amounts payable within one year | 42/48 | €803,993 | €749,678 | -€54,315 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €80,251 | €87,397 | +€7,146 | +8.9% |
| Financial debts | 43 | €300,000 | €275,000 | -€25,000 | -8.3% |
| Credit institutions | 430/8 | €300,000 | €275,000 | -€25,000 | -8.3% |
| Trade debts | 44 | €281,504 | €277,295 | -€4,208 | -1.5% |
| Suppliers | 440/4 | €281,504 | €277,295 | -€4,208 | -1.5% |
| Taxes, remuneration and social security | 45 | €106,006 | €109,319 | +€3,314 | +3.1% |
| Taxes | 450/3 | €51,565 | €54,543 | +€2,978 | +5.8% |
| Remuneration and social security | 454/9 | €54,440 | €54,776 | +€336 | +0.6% |
| Other amounts payable | 47/48 | €36,233 | €667 | -€35,566 | -98.2% |
| Accrued charges and deferred income | 492/3 | €5,013 | €5,076 | +€62 | +1.2% |
| Non-recurring operating income | 76A | €7,639 | €2,328 | -€5,312 | -69.5% |
| Remuneration, social security and pensions | 62 | €365,399 | €409,282 | +€43,883 | +12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,843 | €66,406 | +€563 | +0.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€129 | €314 | +€443 | |
| Other operating charges | 640/8 | €10,030 | €12,417 | +€2,386 | +23.8% |
| Non-recurring operating charges | 66A | €714 | €0 | -€714 | -100% |
| Gross operating margin | 9900 | €499,328 | €507,577 | +€8,249 | +1.7% |
| Operating profit (loss) | 9901 | €57,471 | €19,159 | -€38,312 | -66.7% |
| Financial income | 75/76B | €2,104 | €1,286 | -€818 | -38.9% |
| Recurring financial income | 75 | €2,104 | €1,286 | -€818 | -38.9% |
| Financial charges | 65/66B | €57,587 | €51,721 | -€5,866 | -10.2% |
| Recurring financial charges | 65 | €57,587 | €51,721 | -€5,866 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €1,987 | -€31,277 | -€33,264 | |
| Income taxes | 67/77 | €184 | €129 | -€55 | -29.9% |
| Profit (loss) for the period | 9904 | €1,803 | -€31,406 | -€33,209 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,803 | -€31,406 | -€33,209 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.