VERDEVAR: 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.
VERDEVAR
Largest movements
- Cash +€162,176
up €162,176 (+177.1%), from €91,594 to €253,770
mainly Other debts (+€412,010) and Net result for the year (+€350,344)
- Stocks and contracts +€160,986
up €160,986 (+37.5%), from €429,047 to €590,033
- Tangible fixed assets +€57,053
up €57,053 (+19.3%), from €296,046 to €353,100
of which Plant, machinery and equipment: +€69,537
- Receivables within one year -€53,634
down €53,634 (-34.3%), from €156,589 to €102,956
of which Trade receivables: -€34,769
- Trade debts -€420,368
down €420,368 (-53.1%), from €792,138 to €371,770
- Other debts +€412,010
up €412,010 (+304.4%), from €135,366 to €547,375
- Profit (loss) carried forward +€324,769
up €324,769, from -€324,769 to €0
- Debts after one year -€37,500
down €37,500 (-36.4%), from €103,125 to €65,625
- Reserves +€25,575
up €25,575 (+13.1%), from €195,027 to €220,602
of which Distributable reserves: +€25,575
- Gross operating margin +€335,234
up €335,234 (+457.3%), from €73,308 to €408,542
- Depreciation +€14,709
up €14,709 (+57.8%), from €25,438 to €40,147
- Taxes +€7,148
up €7,148, from €0 to €7,148
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 | €974,951 | €1,302,479 | +€327,528 | +33.6% |
| Fixed assets | 21/28 | €296,431 | €353,485 | +€57,053 | +19.2% |
| Tangible fixed assets | 22/27 | €296,046 | €353,100 | +€57,053 | +19.3% |
| Land and buildings | 22 | €267,131 | €246,383 | -€20,749 | -7.8% |
| Plant, machinery and equipment | 23 | €28,915 | €98,452 | +€69,537 | +240.5% |
| Furniture and vehicles | 24 | - | €8,265 | +€8,265 | |
| Financial fixed assets | 28 | €385 | €385 | = | 0.0% |
| Current assets | 29/58 | €678,520 | €948,995 | +€270,475 | +39.9% |
| Stocks and contracts in progress | 3 | €429,047 | €590,033 | +€160,986 | +37.5% |
| Stocks | 30/36 | €429,047 | €590,033 | +€160,986 | +37.5% |
| Amounts receivable within one year | 40/41 | €156,589 | €102,956 | -€53,634 | -34.3% |
| Trade receivables | 40 | €125,339 | €90,571 | -€34,769 | -27.7% |
| Other amounts receivable | 41 | €31,250 | €12,385 | -€18,865 | -60.4% |
| Cash at bank and in hand | 54/58 | €91,594 | €253,770 | +€162,176 | +177.1% |
| Deferred charges and accrued income | 490/1 | €1,290 | €2,236 | +€946 | +73.4% |
| Total equity and liabilities | 10/49 | €974,951 | €1,302,479 | +€327,528 | +33.6% |
| Equity | 10/15 | -€99,742 | €270,602 | +€370,344 | |
| Contributions | 10/11 | €30,000 | €50,000 | +€20,000 | +66.7% |
| Reserves | 13 | €195,027 | €220,602 | +€25,575 | +13.1% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €190,027 | €215,602 | +€25,575 | +13.5% |
| Profit (loss) carried forward | 14 | -€324,769 | €0 | +€324,769 | |
| Amounts payable | 17/49 | €1,074,693 | €1,031,877 | -€42,816 | -4.0% |
| Amounts payable after more than one year | 17 | €103,125 | €65,625 | -€37,500 | -36.4% |
| Financial debts | 170/4 | €103,125 | €65,625 | -€37,500 | -36.4% |
| Amounts payable within one year | 42/48 | €969,567 | €965,069 | -€4,498 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €37,500 | €37,500 | = | 0.0% |
| Trade debts | 44 | €792,138 | €371,770 | -€420,368 | -53.1% |
| Suppliers | 440/4 | €792,138 | €371,770 | -€420,368 | -53.1% |
| Taxes, remuneration and social security | 45 | €4,564 | €8,423 | +€3,859 | +84.6% |
| Taxes | 450/3 | €4,564 | €8,423 | +€3,859 | +84.6% |
| Other amounts payable | 47/48 | €135,366 | €547,375 | +€412,010 | +304.4% |
| Accrued charges and deferred income | 492/3 | €2,001 | €1,183 | -€817 | -40.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,438 | €40,147 | +€14,709 | +57.8% |
| Other operating charges | 640/8 | €8,441 | €11,672 | +€3,231 | +38.3% |
| Gross operating margin | 9900 | €73,308 | €408,542 | +€335,234 | +457.3% |
| Operating profit (loss) | 9901 | €39,430 | €356,724 | +€317,294 | +804.7% |
| Financial income | 75/76B | €3,927 | €4,850 | +€923 | +23.5% |
| Recurring financial income | 75 | €3,927 | €4,850 | +€923 | +23.5% |
| Financial charges | 65/66B | €5,299 | €4,082 | -€1,217 | -23.0% |
| Recurring financial charges | 65 | €5,299 | €4,082 | -€1,217 | -23.0% |
| Profit (loss) for the period before taxes | 9903 | €38,058 | €357,492 | +€319,434 | +839.3% |
| Income taxes | 67/77 | €0 | €7,148 | +€7,148 | |
| Profit (loss) for the period | 9904 | €38,058 | €350,344 | +€312,286 | +820.5% |
| Profit (loss) for the period to be appropriated | 9905 | €38,058 | €350,344 | +€312,286 | +820.5% |
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 30 September 2026 via checked.be.