VERDHUB: what changed
Two financial 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.
VERDHUB
Largest movements
- Tangible fixed assets -€16,754
down €16,754 (-22.7%), from €73,693 to €56,939
of which Furniture and vehicles: -€11,113
- Receivables within one year +€13,501
up €13,501 (+386%), from €3,497 to €16,998
of which Trade receivables: +€10,204
- Tax, wage and social debts -€13,183
down €13,183 (-27.4%), from €48,102 to €34,919
of which Remuneration and social security: -€18,268
- Trade debts +€12,607
up €12,607 (+19.1%), from €66,091 to €78,698
- Reserves +€5,547
new in 2025: €5,547
- Current portion of long-term debt -€4,688
down €4,688 (-38.5%), from €12,164 to €7,476
- Other debts -€4,128
down €4,128 (-76.6%), from €5,388 to €1,261
- Gross operating margin +€18,581
up €18,581 (+5.2%), from €359,282 to €377,863
- Staff costs +€9,177
up €9,177 (+2.7%), from €334,286 to €343,463
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.
Derived cash bridge
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 | €196,504 | €192,660 | -€3,844 | -2.0% |
| Fixed assets | 21/28 | €86,388 | €69,634 | -€16,754 | -19.4% |
| Tangible fixed assets | 22/27 | €73,693 | €56,939 | -€16,754 | -22.7% |
| Plant, machinery and equipment | 23 | €10,086 | €7,009 | -€3,077 | -30.5% |
| Furniture and vehicles | 24 | €39,956 | €28,843 | -€11,113 | -27.8% |
| Other tangible fixed assets | 26 | €23,652 | €21,088 | -€2,564 | -10.8% |
| Financial fixed assets | 28 | €12,695 | €12,695 | = | 0.0% |
| Current assets | 29/58 | €110,116 | €123,026 | +€12,910 | +11.7% |
| Stocks and contracts in progress | 3 | €22,493 | €22,493 | = | 0.0% |
| Stocks | 30/36 | €22,493 | €22,493 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,497 | €16,998 | +€13,501 | +386% |
| Trade receivables | 40 | €1,987 | €12,191 | +€10,204 | +514% |
| Other amounts receivable | 41 | €1,510 | €4,807 | +€3,297 | +218% |
| Cash at bank and in hand | 54/58 | €84,097 | €83,534 | -€563 | -0.7% |
| Deferred charges and accrued income | 490/1 | €29 | - | -€29 | |
| Total equity and liabilities | 10/49 | €196,504 | €192,660 | -€3,844 | -2.0% |
| Equity | 10/15 | €64,759 | €70,306 | +€5,547 | +8.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €5,547 | +€5,547 | |
| Distributable reserves | 133 | - | €5,547 | +€5,547 | |
| Profit (loss) carried forward | 14 | €54,759 | €54,759 | = | 0.0% |
| Amounts payable | 17/49 | €131,745 | €122,354 | -€9,391 | -7.1% |
| Amounts payable within one year | 42/48 | €131,745 | €122,354 | -€9,391 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €12,164 | €7,476 | -€4,688 | -38.5% |
| Trade debts | 44 | €66,091 | €78,698 | +€12,607 | +19.1% |
| Suppliers | 440/4 | €66,091 | €78,698 | +€12,607 | +19.1% |
| Taxes, remuneration and social security | 45 | €48,102 | €34,919 | -€13,183 | -27.4% |
| Taxes | 450/3 | €22,289 | €27,374 | +€5,085 | +22.8% |
| Remuneration and social security | 454/9 | €25,813 | €7,545 | -€18,268 | -70.8% |
| Other amounts payable | 47/48 | €5,388 | €1,261 | -€4,128 | -76.6% |
| Remuneration, social security and pensions | 62 | €334,286 | €343,463 | +€9,177 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,735 | €16,754 | +€19 | +0.1% |
| Other operating charges | 640/8 | €834 | €1,726 | +€892 | +107% |
| Gross operating margin | 9900 | €359,282 | €377,863 | +€18,581 | +5.2% |
| Operating profit (loss) | 9901 | €7,427 | €15,920 | +€8,493 | +114% |
| Financial income | 75/76B | €218 | €41 | -€177 | -81.3% |
| Recurring financial income | 75 | €218 | €41 | -€177 | -81.3% |
| Financial charges | 65/66B | €7,475 | €7,711 | +€235 | +3.1% |
| Recurring financial charges | 65 | €7,475 | €7,711 | +€235 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €169 | €8,250 | +€8,081 | +4,775% |
| Income taxes | 67/77 | €534 | €2,703 | +€2,169 | +406% |
| Profit (loss) for the period | 9904 | -€365 | €5,547 | +€5,912 | |
| Profit (loss) for the period to be appropriated | 9905 | -€365 | €5,547 | +€5,912 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.