VERDECA: 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.
VERDECA
Largest movements
- Receivables within one year -€13,998
down €13,998 (-12.7%), from €110,425 to €96,426
of which Trade receivables: -€13,669
- Stocks and contracts +€13,235
up €13,235 (+31.7%), from €41,756 to €54,991
- Cash -€5,701
down €5,701 (-53.0%), from €10,766 to €5,065
mainly Net result for the year (-€47,865) and Trade debts (-€24,072)
- Intangible fixed assets -€3,800
down €3,800 (-25.0%), from €15,200 to €11,400
- Tangible fixed assets -€3,461
down €3,461 (-2.2%), from €157,579 to €154,118
- Profit (loss) carried forward -€47,865
down €47,865 (-35.3%), from -€135,519 to -€183,384
- Accrued charges and deferred income +€38,944
up €38,944, from €0 to €38,944
- Trade debts -€24,072
down €24,072 (-26.9%), from €89,362 to €65,290
- Other debts +€22,267
up €22,267 (+13.3%), from €167,554 to €189,821
- Revaluation surpluses -€3,461
down €3,461 (-4.2%), from €83,211 to €79,750
- Gross operating margin -€6,592
down €6,592 (-689%), from -€956 to -€7,548
- Depreciation -€5,019
down €5,019 (-40.9%), from €12,280 to €7,261
- Other operating charges +€887
up €887 (+2.9%), from €30,885 to €31,772
- Financial charges -€264
down €264 (-22.1%), from €1,196 to €932
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 | €340,692 | €328,864 | -€11,827 | -3.5% |
| Fixed assets | 21/28 | €172,779 | €165,518 | -€7,261 | -4.2% |
| Intangible fixed assets | 21 | €15,200 | €11,400 | -€3,800 | -25.0% |
| Tangible fixed assets | 22/27 | €157,579 | €154,118 | -€3,461 | -2.2% |
| Land and buildings | 22 | €157,579 | €154,118 | -€3,461 | -2.2% |
| Current assets | 29/58 | €167,913 | €163,347 | -€4,567 | -2.7% |
| Stocks and contracts in progress | 3 | €41,756 | €54,991 | +€13,235 | +31.7% |
| Stocks | 30/36 | €41,756 | €54,991 | +€13,235 | +31.7% |
| Amounts receivable within one year | 40/41 | €110,425 | €96,426 | -€13,998 | -12.7% |
| Trade receivables | 40 | €108,329 | €94,660 | -€13,669 | -12.6% |
| Other amounts receivable | 41 | €2,096 | €1,766 | -€330 | -15.7% |
| Cash at bank and in hand | 54/58 | €10,766 | €5,065 | -€5,701 | -53.0% |
| Deferred charges and accrued income | 490/1 | €4,966 | €6,865 | +€1,899 | +38.2% |
| Total equity and liabilities | 10/49 | €340,692 | €328,864 | -€11,827 | -3.5% |
| Equity | 10/15 | €81,973 | €34,109 | -€47,865 | -58.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Revaluation surpluses | 12 | €83,211 | €79,750 | -€3,461 | -4.2% |
| Reserves | 13 | €72,782 | €76,242 | +€3,461 | +4.8% |
| Distributable reserves | 133 | €72,782 | €76,242 | +€3,461 | +4.8% |
| Profit (loss) carried forward | 14 | -€135,519 | -€183,384 | -€47,865 | -35.3% |
| Amounts payable | 17/49 | €258,718 | €294,756 | +€36,038 | +13.9% |
| Amounts payable within one year | 42/48 | €258,718 | €255,811 | -€2,907 | -1.1% |
| Trade debts | 44 | €89,362 | €65,290 | -€24,072 | -26.9% |
| Suppliers | 440/4 | €89,362 | €65,290 | -€24,072 | -26.9% |
| Taxes, remuneration and social security | 45 | €1,803 | €701 | -€1,102 | -61.1% |
| Taxes | 450/3 | €1,803 | €701 | -€1,102 | -61.1% |
| Other amounts payable | 47/48 | €167,554 | €189,821 | +€22,267 | +13.3% |
| Accrued charges and deferred income | 492/3 | €0 | €38,944 | +€38,944 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,280 | €7,261 | -€5,019 | -40.9% |
| Other operating charges | 640/8 | €30,885 | €31,772 | +€887 | +2.9% |
| Gross operating margin | 9900 | -€956 | -€7,548 | -€6,592 | -689% |
| Operating profit (loss) | 9901 | -€44,121 | -€46,581 | -€2,460 | -5.6% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €1,196 | €932 | -€264 | -22.1% |
| Recurring financial charges | 65 | €1,196 | €932 | -€264 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | -€45,317 | -€47,513 | -€2,196 | -4.8% |
| Income taxes | 67/77 | €349 | €352 | +€3 | +1.0% |
| Profit (loss) for the period | 9904 | -€45,666 | -€47,865 | -€2,199 | -4.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,666 | -€47,865 | -€2,199 | -4.8% |
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 13 October 2026 via checked.be.