VERDEFIN: 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.
VERDEFIN
Largest movements
- Cash +€16,622
up €16,622 (+20.1%), from €82,772 to €99,394
mainly Net result for the year (+€24,919) and Depreciation (+€24,588)
- Tangible fixed assets +€9,047
up €9,047 (+1.4%), from €635,495 to €644,541
of which Land and buildings: +€9,048
- Reserves +€21,995
up €21,995 (+15.3%), from €144,209 to €166,204
- Tax, wage and social debts +€11,028
up €11,028 (+111%), from €9,966 to €20,995
- Other operating charges -€17,961
down €17,961 (-73.0%), from €24,596 to €6,634
- Taxes +€4,254
up €4,254 (+58.5%), from €7,272 to €11,527
- Depreciation +€3,467
up €3,467 (+16.4%), from €21,120 to €24,588
- Gross operating margin -€2,534
down €2,534 (-3.6%), from €70,575 to €68,041
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 | €787,873 | €819,480 | +€31,607 | +4.0% |
| Fixed assets | 21/28 | €701,342 | €710,388 | +€9,047 | +1.3% |
| Tangible fixed assets | 22/27 | €635,495 | €644,541 | +€9,047 | +1.4% |
| Land and buildings | 22 | €635,493 | €644,541 | +€9,048 | +1.4% |
| Furniture and vehicles | 24 | €2 | - | -€2 | |
| Financial fixed assets | 28 | €65,847 | €65,847 | = | 0.0% |
| Current assets | 29/58 | €86,532 | €109,092 | +€22,561 | +26.1% |
| Amounts receivable within one year | 40/41 | €3,760 | €9,698 | +€5,938 | +158% |
| Trade receivables | 40 | €2,698 | €2,698 | = | 0.0% |
| Other amounts receivable | 41 | €1,062 | €7,000 | +€5,938 | +559% |
| Cash at bank and in hand | 54/58 | €82,772 | €99,394 | +€16,622 | +20.1% |
| Total equity and liabilities | 10/49 | €787,873 | €819,480 | +€31,607 | +4.0% |
| Equity | 10/15 | €159,878 | €184,796 | +€24,919 | +15.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €144,209 | €166,204 | +€21,995 | +15.3% |
| Distributable reserves | 133 | €144,209 | €166,204 | +€21,995 | +15.3% |
| Profit (loss) carried forward | 14 | -€2,923 | - | +€2,923 | |
| Amounts payable | 17/49 | €627,995 | €634,684 | +€6,689 | +1.1% |
| Amounts payable after more than one year | 17 | €492,375 | €490,000 | -€2,375 | -0.5% |
| Financial debts | 170/4 | €2,375 | - | -€2,375 | |
| Other amounts payable | 178/9 | €490,000 | €490,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €135,620 | €144,684 | +€9,064 | +6.7% |
| Current portion of amounts payable after more than one year | 42 | €9,440 | €2,378 | -€7,062 | -74.8% |
| Trade debts | 44 | - | €264 | +€264 | |
| Suppliers | 440/4 | - | €264 | +€264 | |
| Taxes, remuneration and social security | 45 | €9,966 | €20,995 | +€11,028 | +111% |
| Taxes | 450/3 | €9,966 | €20,995 | +€11,028 | +111% |
| Other amounts payable | 47/48 | €116,214 | €121,047 | +€4,833 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,120 | €24,588 | +€3,467 | +16.4% |
| Other operating charges | 640/8 | €24,596 | €6,634 | -€17,961 | -73.0% |
| Gross operating margin | 9900 | €70,575 | €68,041 | -€2,534 | -3.6% |
| Operating profit (loss) | 9901 | €24,859 | €36,819 | +€11,959 | +48.1% |
| Financial income | 75/76B | €11 | €0 | -€11 | -99.7% |
| Recurring financial income | 75 | €11 | €0 | -€11 | -99.7% |
| Financial charges | 65/66B | €436 | €374 | -€62 | -14.2% |
| Recurring financial charges | 65 | €436 | €374 | -€62 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €24,434 | €36,445 | +€12,011 | +49.2% |
| Income taxes | 67/77 | €7,272 | €11,527 | +€4,254 | +58.5% |
| Profit (loss) for the period | 9904 | €17,162 | €24,919 | +€7,757 | +45.2% |
| Profit (loss) for the period to be appropriated | 9905 | €17,162 | €24,919 | +€7,757 | +45.2% |
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 20 October 2026 via checked.be.