VERDEQ: 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.
VERDEQ
Largest movements
- Receivables within one year +€57,610
up €57,610 (+226.3%), from €25,456 to €83,066
- Tangible fixed assets -€46,846
down €46,846 (-86.7%), from €54,021 to €7,175
of which Other tangible fixed assets: -€32,169
- Cash -€38,857
down €38,857 (-22.0%), from €176,308 to €137,451
mainly Contributions, distributions and other (-€168,000) and Receivables within one year (-€57,610)
- Debts after one year -€13,093
down €13,093 (-19.1%), from €68,481 to €55,387
- Current portion of long-term debt -€12,143
down €12,143 (-46.0%), from €26,419 to €14,275
- Trade debts -€12,118
down €12,118 (-25.8%), from €46,952 to €34,834
- Tax, wage and social debts +€9,009
up €9,009 (+67.2%), from €13,407 to €22,415
of which Remuneration and social security: +€7,930
- Gross operating margin -€31,793
down €31,793 (-9.5%), from €335,006 to €303,213
- Depreciation -€27,102
down €27,102 (-54.8%), from €49,493 to €22,391
- Financial income -€25,843
down €25,843 (-99.8%), from €25,888 to €45
of which Non-recurring financial income: -€25,881
- Staff costs +€5,166
up €5,166 (+7.3%), from €70,849 to €76,014
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 | €265,362 | €237,196 | -€28,166 | -10.6% |
| Fixed assets | 21/28 | €60,021 | €13,175 | -€46,846 | -78.0% |
| Tangible fixed assets | 22/27 | €54,021 | €7,175 | -€46,846 | -86.7% |
| Plant, machinery and equipment | 23 | €20,772 | €6,095 | -€14,676 | -70.7% |
| Other tangible fixed assets | 26 | €33,249 | €1,080 | -€32,169 | -96.8% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €205,341 | €224,021 | +€18,680 | +9.1% |
| Stocks and contracts in progress | 3 | €1,691 | €1,016 | -€675 | -39.9% |
| Stocks | 30/36 | €1,691 | €1,016 | -€675 | -39.9% |
| Amounts receivable within one year | 40/41 | €25,456 | €83,066 | +€57,610 | +226.3% |
| Other amounts receivable | 41 | €25,456 | €83,066 | +€57,610 | +226.3% |
| Cash at bank and in hand | 54/58 | €176,308 | €137,451 | -€38,857 | -22.0% |
| Deferred charges and accrued income | 490/1 | €1,887 | €2,488 | +€601 | +31.9% |
| Total equity and liabilities | 10/49 | €265,362 | €237,196 | -€28,166 | -10.6% |
| Equity | 10/15 | €102,650 | €102,875 | +€224 | +0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €84,050 | €84,275 | +€224 | +0.3% |
| Distributable reserves | 133 | €84,050 | €84,275 | +€224 | +0.3% |
| Amounts payable | 17/49 | €162,712 | €134,322 | -€28,390 | -17.4% |
| Amounts payable after more than one year | 17 | €68,481 | €55,387 | -€13,093 | -19.1% |
| Financial debts | 170/4 | €68,481 | €55,387 | -€13,093 | -19.1% |
| Amounts payable within one year | 42/48 | €90,365 | €74,876 | -€15,489 | -17.1% |
| Current portion of amounts payable after more than one year | 42 | €26,419 | €14,275 | -€12,143 | -46.0% |
| Trade debts | 44 | €46,952 | €34,834 | -€12,118 | -25.8% |
| Suppliers | 440/4 | €46,952 | €34,834 | -€12,118 | -25.8% |
| Taxes, remuneration and social security | 45 | €13,407 | €22,415 | +€9,009 | +67.2% |
| Taxes | 450/3 | €2,865 | €3,944 | +€1,079 | +37.7% |
| Remuneration and social security | 454/9 | €10,541 | €18,471 | +€7,930 | +75.2% |
| Other amounts payable | 47/48 | €3,588 | €3,352 | -€236 | -6.6% |
| Accrued charges and deferred income | 492/3 | €3,866 | €4,058 | +€192 | +5.0% |
| Remuneration, social security and pensions | 62 | €70,849 | €76,014 | +€5,166 | +7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,493 | €22,391 | -€27,102 | -54.8% |
| Other operating charges | 640/8 | €3,180 | €2,529 | -€652 | -20.5% |
| Non-recurring operating charges | 66A | €4,423 | €30,079 | +€25,656 | +580.1% |
| Gross operating margin | 9900 | €335,006 | €303,213 | -€31,793 | -9.5% |
| Operating profit (loss) | 9901 | €207,061 | €172,200 | -€34,861 | -16.8% |
| Financial income | 75/76B | €25,888 | €45 | -€25,843 | -99.8% |
| Recurring financial income | 75 | €7 | €45 | +€38 | +555.5% |
| Non-recurring financial income | 76B | €25,881 | - | -€25,881 | |
| Financial charges | 65/66B | €4,006 | €3,279 | -€727 | -18.1% |
| Recurring financial charges | 65 | €3,848 | €3,279 | -€569 | -14.8% |
| Non-recurring financial charges | 66B | €158 | - | -€158 | |
| Profit (loss) for the period before taxes | 9903 | €228,943 | €168,966 | -€59,978 | -26.2% |
| Income taxes | 67/77 | €1,361 | €741 | -€620 | -45.6% |
| Profit (loss) for the period | 9904 | €227,582 | €168,224 | -€59,357 | -26.1% |
| Profit (loss) for the period to be appropriated | 9905 | €227,582 | €168,224 | -€59,357 | -26.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.