VERDESA: 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.
VERDESA
Largest movements
- Cash +€45,241
up €45,241 (+22.7%), from €198,876 to €244,118
mainly Net result for the year (+€96,744) and Depreciation (+€52,929)
- Current investments +€35,912
up €35,912 (+21.1%), from €169,949 to €205,860
- Reserves +€96,740
up €96,740 (+19.0%), from €508,433 to €605,173
of which Distributable reserves: +€96,740
- Other debts -€38,505
down €38,505 (-95.9%), from €40,141 to €1,636
- Tax, wage and social debts +€15,641
up €15,641 (+101.6%), from €15,390 to €31,031
- Current portion of long-term debt +€9,492
up €9,492 (+41.3%), from €22,994 to €32,486
- Staff costs -€16,013
no longer reported in 2025 (was €16,013)
- Depreciation +€4,330
up €4,330 (+8.9%), from €48,599 to €52,929
- Taxes +€2,230
up €2,230 (+5.4%), from €41,270 to €43,499
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 | €843,678 | €924,833 | +€81,155 | +9.6% |
| Fixed assets | 21/28 | €277,094 | €271,968 | -€5,127 | -1.9% |
| Tangible fixed assets | 22/27 | €276,994 | €271,867 | -€5,127 | -1.9% |
| Land and buildings | 22 | €204,207 | €187,284 | -€16,924 | -8.3% |
| Plant, machinery and equipment | 23 | €4,558 | €2,830 | -€1,728 | -37.9% |
| Furniture and vehicles | 24 | €68,229 | €81,754 | +€13,524 | +19.8% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €566,584 | €652,866 | +€86,282 | +15.2% |
| Stocks and contracts in progress | 3 | €138,520 | €134,413 | -€4,107 | -3.0% |
| Stocks | 30/36 | €138,520 | €134,413 | -€4,107 | -3.0% |
| Amounts receivable within one year | 40/41 | €59,239 | €68,475 | +€9,236 | +15.6% |
| Trade receivables | 40 | €5,588 | €41 | -€5,547 | -99.3% |
| Other amounts receivable | 41 | €53,651 | €68,434 | +€14,783 | +27.6% |
| Current investments | 50/53 | €169,949 | €205,860 | +€35,912 | +21.1% |
| Cash at bank and in hand | 54/58 | €198,876 | €244,118 | +€45,241 | +22.7% |
| Total equity and liabilities | 10/49 | €843,678 | €924,833 | +€81,155 | +9.6% |
| Equity | 10/15 | €570,470 | €667,214 | +€96,744 | +17.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €508,433 | €605,173 | +€96,740 | +19.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €168 | €168 | = | 0.0% |
| Distributable reserves | 133 | €502,065 | €598,805 | +€96,740 | +19.3% |
| Profit (loss) carried forward | 14 | €37 | €41 | +€4 | +10.3% |
| Amounts payable | 17/49 | €273,208 | €257,620 | -€15,588 | -5.7% |
| Amounts payable after more than one year | 17 | €132,202 | €132,542 | +€340 | +0.3% |
| Financial debts | 170/4 | €132,202 | €132,542 | +€340 | +0.3% |
| Amounts payable within one year | 42/48 | €140,326 | €124,398 | -€15,928 | -11.4% |
| Current portion of amounts payable after more than one year | 42 | €22,994 | €32,486 | +€9,492 | +41.3% |
| Trade debts | 44 | €61,801 | €59,245 | -€2,556 | -4.1% |
| Suppliers | 440/4 | €61,801 | €59,245 | -€2,556 | -4.1% |
| Taxes, remuneration and social security | 45 | €15,390 | €31,031 | +€15,641 | +101.6% |
| Taxes | 450/3 | €15,390 | €31,031 | +€15,641 | +101.6% |
| Other amounts payable | 47/48 | €40,141 | €1,636 | -€38,505 | -95.9% |
| Accrued charges and deferred income | 492/3 | €680 | €680 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €16,013 | - | -€16,013 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,599 | €52,929 | +€4,330 | +8.9% |
| Other operating charges | 640/8 | €5,128 | €5,140 | +€12 | +0.2% |
| Gross operating margin | 9900 | €193,566 | €192,758 | -€808 | -0.4% |
| Operating profit (loss) | 9901 | €123,827 | €134,690 | +€10,863 | +8.8% |
| Financial income | 75/76B | €6,846 | €8,606 | +€1,759 | +25.7% |
| Recurring financial income | 75 | €6,846 | €8,606 | +€1,759 | +25.7% |
| Financial charges | 65/66B | €2,238 | €3,052 | +€815 | +36.4% |
| Recurring financial charges | 65 | €2,238 | €3,052 | +€815 | +36.4% |
| Profit (loss) for the period before taxes | 9903 | €128,436 | €140,243 | +€11,807 | +9.2% |
| Income taxes | 67/77 | €41,270 | €43,499 | +€2,230 | +5.4% |
| Profit (loss) for the period | 9904 | €87,166 | €96,744 | +€9,578 | +11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €87,166 | €96,744 | +€9,578 | +11.0% |
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 2 October 2026 via checked.be.