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 +€13,775
up €13,775 (+14.5%), from €95,165 to €108,940
mainly Net result for the year (+€23,382) and Depreciation (+€8,621)
- Tangible fixed assets +€10,586
up €10,586 (+93.3%), from €11,349 to €21,936
of which Plant, machinery and equipment: +€9,817
- Receivables within one year -€6,197
down €6,197 (-9.7%), from €63,966 to €57,768
of which Other amounts receivable: -€4,568
- Reserves +€23,483
up €23,483 (+17.5%), from €134,525 to €158,008
- Trade debts -€6,118
down €6,118 (-67.8%), from €9,030 to €2,911
- Gross operating margin -€32,957
down €32,957 (-31.0%), from €106,230 to €73,272
- Taxes -€13,034
down €13,034 (-59.8%), from €21,805 to €8,771
- Staff costs +€9,487
up €9,487 (+42.7%), from €22,242 to €31,729
- Depreciation +€4,621
up €4,621 (+115.5%), from €4,000 to €8,621
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €171,488 | €189,458 | +€17,970 | +10.5% |
| Fixed assets | 21/28 | €11,392 | €21,996 | +€10,604 | +93.1% |
| Tangible fixed assets | 22/27 | €11,349 | €21,936 | +€10,586 | +93.3% |
| Plant, machinery and equipment | 23 | €11,349 | €21,167 | +€9,817 | +86.5% |
| Furniture and vehicles | 24 | - | €769 | +€769 | |
| Financial fixed assets | 28 | €42 | €61 | +€18 | +43.0% |
| Current assets | 29/58 | €160,096 | €167,462 | +€7,366 | +4.6% |
| Amounts receivable within one year | 40/41 | €63,966 | €57,768 | -€6,197 | -9.7% |
| Trade receivables | 40 | €56,055 | €54,426 | -€1,629 | -2.9% |
| Other amounts receivable | 41 | €7,910 | €3,342 | -€4,568 | -57.8% |
| Cash at bank and in hand | 54/58 | €95,165 | €108,940 | +€13,775 | +14.5% |
| Deferred charges and accrued income | 490/1 | €965 | €753 | -€212 | -22.0% |
| Total equity and liabilities | 10/49 | €171,488 | €189,458 | +€17,970 | +10.5% |
| Equity | 10/15 | €144,625 | €168,008 | +€23,382 | +16.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €134,525 | €158,008 | +€23,483 | +17.5% |
| Distributable reserves | 133 | €134,525 | €158,008 | +€23,483 | +17.5% |
| Profit (loss) carried forward | 14 | €100 | €0 | -€100 | -100.0% |
| Amounts payable | 17/49 | €26,862 | €21,450 | -€5,412 | -20.1% |
| Amounts payable within one year | 42/48 | €26,862 | €21,450 | -€5,412 | -20.1% |
| Trade debts | 44 | €9,030 | €2,911 | -€6,118 | -67.8% |
| Suppliers | 440/4 | €9,030 | €2,911 | -€6,118 | -67.8% |
| Taxes, remuneration and social security | 45 | €8,037 | €8,743 | +€706 | +8.8% |
| Taxes | 450/3 | €8,037 | €1,395 | -€6,642 | -82.6% |
| Remuneration and social security | 454/9 | - | €7,348 | +€7,348 | |
| Other amounts payable | 47/48 | €9,796 | €9,796 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €22,242 | €31,729 | +€9,487 | +42.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,000 | €8,621 | +€4,621 | +115.5% |
| Other operating charges | 640/8 | €956 | €715 | -€241 | -25.2% |
| Gross operating margin | 9900 | €106,230 | €73,272 | -€32,957 | -31.0% |
| Operating profit (loss) | 9901 | €79,031 | €32,207 | -€46,824 | -59.2% |
| Financial income | 75/76B | €1 | €1 | -€1 | -42.1% |
| Recurring financial income | 75 | €1 | €1 | -€1 | -42.1% |
| Financial charges | 65/66B | €58 | €55 | -€4 | -6.1% |
| Recurring financial charges | 65 | €58 | €55 | -€4 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | €78,974 | €32,153 | -€46,821 | -59.3% |
| Income taxes | 67/77 | €21,805 | €8,771 | -€13,034 | -59.8% |
| Profit (loss) for the period | 9904 | €57,170 | €23,382 | -€33,787 | -59.1% |
| Profit (loss) for the period to be appropriated | 9905 | €57,170 | €23,382 | -€33,787 | -59.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.