VerDe-Projects: 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-Projects
Largest movements
- Stocks and contracts +€3.4m
up €3.4m (+56.9%), from €5.9m to €9.2m
of which Stocks: +€3.3m
- Cash +€316,627
up €316,627 (+150%), from €211,075 to €527,702
mainly Accrued charges and deferred income (+€4.7m) and Current portion of long-term debt (+€100,000)
- Receivables within one year +€268,352
up €268,352 (+845%), from €31,762 to €300,114
- Accrued charges and deferred income +€4.7m
up €4.7m (+201%), from €2.3m to €7.1m
- Debts after one year -€500,890
down €500,890 (-22.7%), from €2.2m to €1.7m
- Other debts -€299,332
down €299,332 (-17.6%), from €1.7m to €1.4m
- Profit (loss) carried forward -€106,955
down €106,955 (-22.0%), from -€486,747 to -€593,702
- Write-downs -€591,387
down €591,387 (-100%), from €591,387 to €0
- Gross operating margin -€96,058
down €96,058 (-53.3%), from €180,164 to €84,105
- Financial charges +€23,418
up €23,418 (+14.7%), from €159,821 to €183,239
- Other operating charges +€4,007
up €4,007 (+105%), from €3,814 to €7,821
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 | €6,141,257 | €10,079,220 | +€3.9m | +64.1% |
| Current assets | 29/58 | €6,141,257 | €10,079,220 | +€3.9m | +64.1% |
| Stocks and contracts in progress | 3 | €5,896,897 | €9,249,881 | +€3.4m | +56.9% |
| Stocks | 30/36 | €4,742,897 | €8,015,881 | +€3.3m | +69.0% |
| Contracts in progress | 37 | €1,154,000 | €1,234,000 | +€80,000 | +6.9% |
| Amounts receivable within one year | 40/41 | €31,762 | €300,114 | +€268,352 | +845% |
| Trade receivables | 40 | €31,762 | €300,114 | +€268,352 | +845% |
| Cash at bank and in hand | 54/58 | €211,075 | €527,702 | +€316,627 | +150% |
| Deferred charges and accrued income | 490/1 | €1,523 | €1,523 | = | 0.0% |
| Total equity and liabilities | 10/49 | €6,141,257 | €10,079,220 | +€3.9m | +64.1% |
| Equity | 10/15 | -€288,747 | -€395,702 | -€106,955 | -37.0% |
| Contributions | 10/11 | €180,000 | €180,000 | = | 0.0% |
| Reserves | 13 | €18,000 | €18,000 | = | 0.0% |
| Distributable reserves | 133 | €18,000 | €18,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€486,747 | -€593,702 | -€106,955 | -22.0% |
| Amounts payable | 17/49 | €6,430,004 | €10,474,922 | +€4.0m | +62.9% |
| Amounts payable after more than one year | 17 | €2,202,348 | €1,701,458 | -€500,890 | -22.7% |
| Financial debts | 170/4 | €2,202,348 | €1,701,458 | -€500,890 | -22.7% |
| Amounts payable within one year | 42/48 | €1,878,866 | €1,694,548 | -€184,318 | -9.8% |
| Current portion of amounts payable after more than one year | 42 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €127,348 | €144,162 | +€16,814 | +13.2% |
| Suppliers | 440/4 | €127,348 | €144,162 | +€16,814 | +13.2% |
| Taxes, remuneration and social security | 45 | €48,732 | €46,931 | -€1,801 | -3.7% |
| Taxes | 450/3 | €48,732 | €46,931 | -€1,801 | -3.7% |
| Other amounts payable | 47/48 | €1,702,787 | €1,403,455 | -€299,332 | -17.6% |
| Accrued charges and deferred income | 492/3 | €2,348,790 | €7,078,916 | +€4.7m | +201% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €591,387 | €0 | -€591,387 | -100% |
| Other operating charges | 640/8 | €3,814 | €7,821 | +€4,007 | +105% |
| Gross operating margin | 9900 | €180,164 | €84,105 | -€96,058 | -53.3% |
| Operating profit (loss) | 9901 | -€415,037 | €76,285 | +€491,322 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -97.9% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -97.9% |
| Financial charges | 65/66B | €159,821 | €183,239 | +€23,418 | +14.7% |
| Recurring financial charges | 65 | €159,821 | €183,239 | +€23,418 | +14.7% |
| Profit (loss) for the period before taxes | 9903 | -€574,858 | -€106,955 | +€467,903 | +81.4% |
| Profit (loss) for the period | 9904 | -€574,858 | -€106,955 | +€467,903 | +81.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€574,858 | -€106,955 | +€467,903 | +81.4% |
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 25 October 2026 via checked.be.