VERDES: 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.
VERDES
Largest movements
- Current investments -€759,378
down €759,378 (-41.7%), from €1.8m to €1.1m
- Cash -€352,082
down €352,082 (-76.5%), from €460,187 to €108,105
mainly Contributions, distributions and other (-€1.2m) and Receivables within one year (-€19,810)
- Tangible fixed assets -€51,605
down €51,605 (-27.7%), from €186,004 to €134,399
of which Land and buildings: -€51,445
- Contributions -€911,692
down €911,692 (-48.5%), from €1.9m to €969,308
- Reserves -€250,551
down €250,551 (-45.0%), from €556,456 to €305,905
of which Distributable reserves: -€185,012
- Gross operating margin -€27,737
down €27,737, from €19,716 to -€8,021
- Taxes -€11,864
down €11,864 (-67.1%), from €17,668 to €5,804
- Financial income +€9,520
up €9,520 (+20.4%), from €46,645 to €56,165
- Other operating charges +€638
up €638 (+6.3%), from €10,143 to €10,781
- Financial charges +€257
up €257 (+4.5%), from €5,728 to €5,985
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,500,884 | €1,335,419 | -€1.2m | -46.6% |
| Formation expenses | 20 | €7,962 | €7,962 | +€0 | 0.0% |
| Fixed assets | 21/28 | €186,004 | €134,399 | -€51,605 | -27.7% |
| Tangible fixed assets | 22/27 | €186,004 | €134,399 | -€51,605 | -27.7% |
| Land and buildings | 22 | €185,844 | €134,399 | -€51,445 | -27.7% |
| Furniture and vehicles | 24 | €160 | €0 | -€160 | -100.0% |
| Current assets | 29/58 | €2,306,919 | €1,193,058 | -€1.1m | -48.3% |
| Amounts receivable within one year | 40/41 | €192 | €20,002 | +€19,810 | +10328.0% |
| Other amounts receivable | 41 | €192 | €20,002 | +€19,810 | +10328.0% |
| Current investments | 50/53 | €1,819,167 | €1,059,789 | -€759,378 | -41.7% |
| Cash at bank and in hand | 54/58 | €460,187 | €108,105 | -€352,082 | -76.5% |
| Deferred charges and accrued income | 490/1 | €27,373 | €5,162 | -€22,211 | -81.1% |
| Total equity and liabilities | 10/49 | €2,500,884 | €1,335,419 | -€1.2m | -46.6% |
| Equity | 10/15 | €2,437,456 | €1,275,213 | -€1.2m | -47.7% |
| Contributions | 10/11 | €1,881,000 | €969,308 | -€911,692 | -48.5% |
| Capital | 10 | €1,881,000 | €969,308 | -€911,692 | -48.5% |
| Issued capital | 100 | €1,881,000 | €969,308 | -€911,692 | -48.5% |
| Reserves | 13 | €556,456 | €305,905 | -€250,551 | -45.0% |
| Non-distributable reserves | 130/1 | €137,200 | €71,661 | -€65,539 | -47.8% |
| Legal reserve | 130 | €137,200 | €71,661 | -€65,539 | -47.8% |
| Distributable reserves | 133 | €419,256 | €234,244 | -€185,012 | -44.1% |
| Amounts payable | 17/49 | €63,429 | €60,205 | -€3,224 | -5.1% |
| Amounts payable within one year | 42/48 | €48,611 | €55,594 | +€6,983 | +14.4% |
| Trade debts | 44 | €77 | €35 | -€42 | -54.6% |
| Suppliers | 440/4 | €77 | €35 | -€42 | -54.6% |
| Taxes, remuneration and social security | 45 | €12,788 | €681 | -€12,107 | -94.7% |
| Taxes | 450/3 | €12,788 | €681 | -€12,107 | -94.7% |
| Other amounts payable | 47/48 | €35,746 | €54,878 | +€19,132 | +53.5% |
| Accrued charges and deferred income | 492/3 | €14,817 | €4,611 | -€10,206 | -68.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,406 | €1,232 | -€174 | -12.4% |
| Other operating charges | 640/8 | €10,143 | €10,781 | +€638 | +6.3% |
| Non-recurring operating charges | 66A | - | €5,187 | +€5,187 | |
| Gross operating margin | 9900 | €19,716 | -€8,021 | -€27,737 | |
| Operating profit (loss) | 9901 | €8,168 | -€25,221 | -€33,389 | |
| Financial income | 75/76B | €46,645 | €56,165 | +€9,520 | +20.4% |
| Recurring financial income | 75 | €46,645 | €56,165 | +€9,520 | +20.4% |
| Financial charges | 65/66B | €5,728 | €5,985 | +€257 | +4.5% |
| Recurring financial charges | 65 | €5,728 | €5,985 | +€257 | +4.5% |
| Profit (loss) for the period before taxes | 9903 | €49,085 | €24,959 | -€24,126 | -49.2% |
| Income taxes | 67/77 | €17,668 | €5,804 | -€11,864 | -67.1% |
| Profit (loss) for the period | 9904 | €31,417 | €19,155 | -€12,262 | -39.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,417 | €19,155 | -€12,262 | -39.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.