VERDEMA: what changed
Two fiscal 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.
VERDEMA
Largest movements
- Stocks and contracts -€85,740
down €85,740 (-47.1%), from €182,184 to €96,444
- Receivables within one year +€22,788
up €22,788 (+36.0%), from €63,338 to €86,126
of which Other amounts receivable: +€25,887
- Current portion of long-term debt -€67,329
down €67,329 (-66.9%), from €100,648 to €33,319
- Debts after one year +€55,609
up €55,609 (+9.7%), from €576,143 to €631,752
- Trade debts -€30,312
down €30,312 (-68.6%), from €44,194 to €13,882
- Other debts -€22,168
down €22,168 (-9.1%), from €243,863 to €221,695
- Other operating charges +€41,078
new in 2025: €41,078
- Gross operating margin +€39,159
up €39,159 (+22.8%), from €171,898 to €211,057
- Financial income +€10,750
up €10,750 (+427.6%), from €2,514 to €13,264
- Depreciation +€9,563
up €9,563 (+24.2%), from €39,534 to €49,097
- Staff costs +€3,095
up €3,095 (+3.6%), from €86,486 to €89,581
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.
Cash bridge derived
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 | €1,080,792 | €1,022,111 | -€58,681 | -5.4% |
| Fixed assets | 21/28 | €738,885 | €745,099 | +€6,214 | +0.8% |
| Tangible fixed assets | 22/27 | €738,885 | €745,099 | +€6,214 | +0.8% |
| Land and buildings | 22 | €675,386 | €649,582 | -€25,804 | -3.8% |
| Plant, machinery and equipment | 23 | €50,218 | €61,767 | +€11,549 | +23.0% |
| Furniture and vehicles | 24 | €13,281 | €31,690 | +€18,409 | +138.6% |
| Other tangible fixed assets | 26 | - | €2,060 | +€2,060 | |
| Current assets | 29/58 | €341,907 | €277,013 | -€64,894 | -19.0% |
| Stocks and contracts in progress | 3 | €182,184 | €96,444 | -€85,740 | -47.1% |
| Stocks | 30/36 | €182,184 | €96,444 | -€85,740 | -47.1% |
| Amounts receivable within one year | 40/41 | €63,338 | €86,126 | +€22,788 | +36.0% |
| Trade receivables | 40 | €55,413 | €52,314 | -€3,099 | -5.6% |
| Other amounts receivable | 41 | €7,925 | €33,812 | +€25,887 | +326.6% |
| Cash at bank and in hand | 54/58 | €95,105 | €94,443 | -€662 | -0.7% |
| Deferred charges and accrued income | 490/1 | €1,280 | €0 | -€1,280 | -100.0% |
| Total equity and liabilities | 10/49 | €1,080,792 | €1,022,111 | -€58,681 | -5.4% |
| Equity | 10/15 | €104,944 | €114,226 | +€9,282 | +8.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €79,944 | €89,226 | +€9,282 | +11.6% |
| Distributable reserves | 133 | €79,944 | €89,226 | +€9,282 | +11.6% |
| Amounts payable | 17/49 | €975,848 | €907,886 | -€67,962 | -7.0% |
| Amounts payable after more than one year | 17 | €576,143 | €631,752 | +€55,609 | +9.7% |
| Financial debts | 170/4 | €576,143 | €631,752 | +€55,609 | +9.7% |
| Amounts payable within one year | 42/48 | €399,705 | €276,134 | -€123,571 | -30.9% |
| Current portion of amounts payable after more than one year | 42 | €100,648 | €33,319 | -€67,329 | -66.9% |
| Financial debts | 43 | - | €319 | +€319 | |
| Credit institutions | 430/8 | - | €319 | +€319 | |
| Trade debts | 44 | €44,194 | €13,882 | -€30,312 | -68.6% |
| Suppliers | 440/4 | €44,194 | €13,882 | -€30,312 | -68.6% |
| Taxes, remuneration and social security | 45 | €11,000 | €6,919 | -€4,081 | -37.1% |
| Taxes | 450/3 | €1,700 | €2,122 | +€422 | +24.8% |
| Remuneration and social security | 454/9 | €9,300 | €4,797 | -€4,503 | -48.4% |
| Other amounts payable | 47/48 | €243,863 | €221,695 | -€22,168 | -9.1% |
| Non-recurring operating income | 76A | €9,994 | - | -€9,994 | |
| Remuneration, social security and pensions | 62 | €86,486 | €89,581 | +€3,095 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,534 | €49,097 | +€9,563 | +24.2% |
| Other operating charges | 640/8 | - | €41,078 | +€41,078 | |
| Gross operating margin | 9900 | €171,898 | €211,057 | +€39,159 | +22.8% |
| Operating profit (loss) | 9901 | €45,878 | €31,301 | -€14,577 | -31.8% |
| Financial income | 75/76B | €2,514 | €13,264 | +€10,750 | +427.6% |
| Recurring financial income | 75 | €2,514 | €13,264 | +€10,750 | +427.6% |
| Financial charges | 65/66B | €29,608 | €29,270 | -€338 | -1.1% |
| Recurring financial charges | 65 | €29,608 | €29,270 | -€338 | -1.1% |
| Profit (loss) for the period before taxes | 9903 | €18,784 | €15,295 | -€3,489 | -18.6% |
| Income taxes | 67/77 | €5,521 | €6,014 | +€493 | +8.9% |
| Profit (loss) for the period | 9904 | €13,263 | €9,281 | -€3,982 | -30.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,263 | €9,281 | -€3,982 | -30.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.