VERDEMI: 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.
VERDEMI
Largest movements
- Receivables within one year -€388,571
down €388,571 (-60.7%), from €639,975 to €251,404
of which Other amounts receivable: -€288,640
- Cash -€136,435
down €136,435 (-57.1%), from €238,951 to €102,516
mainly Other debts (-€482,075) and Accrued charges and deferred income (-€216,241)
- Stocks and contracts -€96,336
down €96,336 (-6.9%), from €1.4m to €1.3m
- Tangible fixed assets -€91,931
down €91,931 (-20.5%), from €448,118 to €356,187
of which Furniture and vehicles: -€48,440
- Other debts -€482,075
down €482,075 (-99.2%), from €486,169 to €4,094
- Short-term financial debts +€218,322
up €218,322 (+689%), from €31,678 to €250,000
- Accrued charges and deferred income -€216,241
down €216,241 (-99.7%), from €216,949 to €708
- Debts after one year -€171,232
down €171,232 (-55.4%), from €309,194 to €137,962
- Advances received -€70,859
down €70,859 (-82.6%), from €85,837 to €14,978
- Gross operating margin -€216,446
down €216,446 (-31.0%), from €698,250 to €481,804
- Taxes -€68,019
down €68,019 (-64.2%), from €106,013 to €37,994
- Staff costs -€61,597
down €61,597 (-21.3%), from €289,245 to €227,648
- Depreciation +€13,827
up €13,827 (+12.5%), from €110,642 to €124,468
- Financial income -€8,336
down €8,336 (-33.7%), from €24,714 to €16,378
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 | €2,729,289 | €2,021,825 | -€707,464 | -25.9% |
| Fixed assets | 21/28 | €458,310 | €364,932 | -€93,377 | -20.4% |
| Intangible fixed assets | 21 | €7,692 | €6,246 | -€1,446 | -18.8% |
| Tangible fixed assets | 22/27 | €448,118 | €356,187 | -€91,931 | -20.5% |
| Land and buildings | 22 | €219,375 | €187,725 | -€31,650 | -14.4% |
| Plant, machinery and equipment | 23 | €36,023 | €24,182 | -€11,841 | -32.9% |
| Furniture and vehicles | 24 | €192,720 | €144,280 | -€48,440 | -25.1% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €2,270,980 | €1,656,893 | -€614,087 | -27.0% |
| Stocks and contracts in progress | 3 | €1,390,420 | €1,294,084 | -€96,336 | -6.9% |
| Stocks | 30/36 | €1,390,420 | €1,294,084 | -€96,336 | -6.9% |
| Amounts receivable within one year | 40/41 | €639,975 | €251,404 | -€388,571 | -60.7% |
| Trade receivables | 40 | €128,496 | €28,565 | -€99,931 | -77.8% |
| Other amounts receivable | 41 | €511,479 | €222,839 | -€288,640 | -56.4% |
| Cash at bank and in hand | 54/58 | €238,951 | €102,516 | -€136,435 | -57.1% |
| Deferred charges and accrued income | 490/1 | €1,634 | €8,890 | +€7,255 | +444% |
| Total equity and liabilities | 10/49 | €2,729,289 | €2,021,825 | -€707,464 | -25.9% |
| Equity | 10/15 | €1,187,240 | €1,256,115 | +€68,875 | +5.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,168,640 | €1,237,515 | +€68,875 | +5.9% |
| Tax-exempt reserves | 132 | €29,000 | €29,000 | = | 0.0% |
| Distributable reserves | 133 | €1,139,640 | €1,208,515 | +€68,875 | +6.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,542,049 | €765,710 | -€776,339 | -50.3% |
| Amounts payable after more than one year | 17 | €309,194 | €137,962 | -€171,232 | -55.4% |
| Financial debts | 170/4 | €309,194 | €137,962 | -€171,232 | -55.4% |
| Amounts payable within one year | 42/48 | €1,015,906 | €627,040 | -€388,866 | -38.3% |
| Current portion of amounts payable after more than one year | 42 | €141,956 | €128,092 | -€13,864 | -9.8% |
| Financial debts | 43 | €31,678 | €250,000 | +€218,322 | +689% |
| Credit institutions | 430/8 | €31,678 | €250,000 | +€218,322 | +689% |
| Trade debts | 44 | €151,301 | €147,399 | -€3,902 | -2.6% |
| Suppliers | 440/4 | €151,301 | €147,399 | -€3,902 | -2.6% |
| Advances received on contracts in progress | 46 | €85,837 | €14,978 | -€70,859 | -82.6% |
| Taxes, remuneration and social security | 45 | €118,965 | €82,476 | -€36,488 | -30.7% |
| Taxes | 450/3 | €83,176 | €55,518 | -€27,658 | -33.3% |
| Remuneration and social security | 454/9 | €35,789 | €26,958 | -€8,830 | -24.7% |
| Other amounts payable | 47/48 | €486,169 | €4,094 | -€482,075 | -99.2% |
| Accrued charges and deferred income | 492/3 | €216,949 | €708 | -€216,241 | -99.7% |
| Non-recurring operating income | 76A | €71,540 | €0 | -€71,540 | -100% |
| Remuneration, social security and pensions | 62 | €289,245 | €227,648 | -€61,597 | -21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,642 | €124,468 | +€13,827 | +12.5% |
| Other operating charges | 640/8 | €8,350 | €9,446 | +€1,095 | +13.1% |
| Non-recurring operating charges | 66A | - | €7,500 | +€7,500 | |
| Gross operating margin | 9900 | €698,250 | €481,804 | -€216,446 | -31.0% |
| Operating profit (loss) | 9901 | €290,013 | €112,742 | -€177,271 | -61.1% |
| Financial income | 75/76B | €24,714 | €16,378 | -€8,336 | -33.7% |
| Recurring financial income | 75 | €24,714 | €16,378 | -€8,336 | -33.7% |
| Financial charges | 65/66B | €26,143 | €22,250 | -€3,893 | -14.9% |
| Recurring financial charges | 65 | €26,143 | €22,250 | -€3,893 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | €288,583 | €106,869 | -€181,714 | -63.0% |
| Income taxes | 67/77 | €106,013 | €37,994 | -€68,019 | -64.2% |
| Profit (loss) for the period | 9904 | €182,570 | €68,875 | -€113,695 | -62.3% |
| Profit (loss) for the period to be appropriated | 9905 | €182,570 | €68,875 | -€113,695 | -62.3% |
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 23 October 2026 via checked.be.