VERDEN: what changed
VERDEN
Largest movements
- Tangible fixed assets +€539,575
up €539,575 (+141%), from €383,270 to €922,846
of which Land and buildings: +€547,923
- Cash -€302,719
down €302,719 (-83.2%), from €363,640 to €60,921
mainly Investment in fixed assets (net) (-€581,110) and Trade debts (-€321,285)
- Receivables within one year +€104,178
up €104,178 (+41.0%), from €253,900 to €358,078
of which Trade receivables: +€134,767
- Stocks and contracts -€65,962
down €65,962 (-53.6%), from €123,165 to €57,203
of which Stocks: -€65,962
- Debts after one year +€378,358
up €378,358 (+182%), from €208,397 to €586,755
- Trade debts -€321,285
down €321,285 (-53.4%), from €601,537 to €280,253
- Reserves +€258,730
up €258,730 (+117%), from €222,068 to €480,798
of which Distributable reserves: +€258,730
- Other debts -€33,454
down €33,454 (-100%), from €33,454 to €0
- Gross operating margin +€225,767
up €225,767 (+56.6%), from €399,078 to €624,845
- Taxes +€68,601
up €68,601 (+130%), from €52,802 to €121,403
- Financial charges +€32,006
up €32,006 (+59.4%), from €53,874 to €85,880
- Other operating charges -€21,846
down €21,846 (-85.5%), from €25,551 to €3,705
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,143,586 | €1,426,630 | +€283,044 | +24.8% |
| Fixed assets | 21/28 | €386,047 | €937,275 | +€551,228 | +143% |
| Intangible fixed assets | 21 | €603 | €12,256 | +€11,653 | +1,933% |
| Tangible fixed assets | 22/27 | €383,270 | €922,846 | +€539,575 | +141% |
| Land and buildings | 22 | €94,088 | €642,011 | +€547,923 | +582% |
| Plant, machinery and equipment | 23 | €3,637 | €3,647 | +€10 | +0.3% |
| Furniture and vehicles | 24 | €7,732 | €15,684 | +€7,952 | +103% |
| Other tangible fixed assets | 26 | €277,813 | €261,503 | -€16,310 | -5.9% |
| Financial fixed assets | 28 | €2,174 | €2,174 | = | 0.0% |
| Current assets | 29/58 | €757,539 | €489,355 | -€268,184 | -35.4% |
| Stocks and contracts in progress | 3 | €123,165 | €57,203 | -€65,962 | -53.6% |
| Stocks | 30/36 | €123,165 | €57,203 | -€65,962 | -53.6% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €253,900 | €358,078 | +€104,178 | +41.0% |
| Trade receivables | 40 | €163,710 | €298,477 | +€134,767 | +82.3% |
| Other amounts receivable | 41 | €90,190 | €59,602 | -€30,588 | -33.9% |
| Cash at bank and in hand | 54/58 | €363,640 | €60,921 | -€302,719 | -83.2% |
| Deferred charges and accrued income | 490/1 | €16,834 | €13,152 | -€3,682 | -21.9% |
| Total equity and liabilities | 10/49 | €1,143,586 | €1,426,630 | +€283,044 | +24.8% |
| Equity | 10/15 | €240,668 | €499,398 | +€258,730 | +108% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €222,068 | €480,798 | +€258,730 | +117% |
| Non-distributable reserves | 130/1 | €650 | €650 | = | 0.0% |
| Reserves not available under the articles | 1311 | €650 | €650 | = | 0.0% |
| Distributable reserves | 133 | €221,418 | €480,148 | +€258,730 | +117% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €902,917 | €927,232 | +€24,314 | +2.7% |
| Amounts payable after more than one year | 17 | €208,397 | €586,755 | +€378,358 | +182% |
| Financial debts | 170/4 | €208,397 | €586,755 | +€378,358 | +182% |
| Amounts payable within one year | 42/48 | €693,796 | €332,444 | -€361,352 | -52.1% |
| Current portion of amounts payable after more than one year | 42 | €17,232 | €17,503 | +€271 | +1.6% |
| Trade debts | 44 | €601,537 | €280,253 | -€321,285 | -53.4% |
| Suppliers | 440/4 | €601,537 | €280,253 | -€321,285 | -53.4% |
| Taxes, remuneration and social security | 45 | €41,573 | €34,689 | -€6,884 | -16.6% |
| Taxes | 450/3 | €37,856 | €27,539 | -€10,318 | -27.3% |
| Remuneration and social security | 454/9 | €3,716 | €7,150 | +€3,434 | +92.4% |
| Other amounts payable | 47/48 | €33,454 | €0 | -€33,454 | -100% |
| Accrued charges and deferred income | 492/3 | €724 | €8,033 | +€7,308 | +1,009% |
| Remuneration, social security and pensions | 62 | €123,320 | €125,383 | +€2,063 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,167 | €29,882 | +€3,714 | +14.2% |
| Other operating charges | 640/8 | €25,551 | €3,705 | -€21,846 | -85.5% |
| Gross operating margin | 9900 | €399,078 | €624,845 | +€225,767 | +56.6% |
| Operating profit (loss) | 9901 | €224,039 | €465,875 | +€241,835 | +108% |
| Financial income | 75/76B | €658 | €138 | -€520 | -79.0% |
| Recurring financial income | 75 | €658 | €138 | -€520 | -79.0% |
| Financial charges | 65/66B | €53,874 | €85,880 | +€32,006 | +59.4% |
| Recurring financial charges | 65 | €53,874 | €85,880 | +€32,006 | +59.4% |
| Profit (loss) for the period before taxes | 9903 | €170,824 | €380,133 | +€209,310 | +123% |
| Income taxes | 67/77 | €52,802 | €121,403 | +€68,601 | +130% |
| Profit (loss) for the period | 9904 | €118,022 | €258,730 | +€140,709 | +119% |
| Profit (loss) for the period to be appropriated | 9905 | €118,022 | €258,730 | +€140,709 | +119% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.