VERDI: 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.
VERDI
Largest movements
- Tangible fixed assets -€46,962
down €46,962 (-5.6%), from €832,942 to €785,980
of which Land and buildings: -€40,803
- Cash -€12,407
down €12,407 (-44.6%), from €27,840 to €15,433
mainly Debts after one year (-€179,951) and Trade debts (-€1,289)
- Debts after one year -€179,951
down €179,951 (-23.7%), from €759,407 to €579,456
- Profit (loss) carried forward +€120,515
up €120,515, from -€21,314 to €99,201
- Gross operating margin +€148,974
up €148,974 (+1918.0%), from €7,767 to €156,741
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 | €866,273 | €806,142 | -€60,131 | -6.9% |
| Fixed assets | 21/28 | €832,967 | €785,980 | -€46,987 | -5.6% |
| Tangible fixed assets | 22/27 | €832,942 | €785,980 | -€46,962 | -5.6% |
| Land and buildings | 22 | €820,893 | €780,090 | -€40,803 | -5.0% |
| Plant, machinery and equipment | 23 | €2,263 | €386 | -€1,877 | -82.9% |
| Furniture and vehicles | 24 | €9,786 | €5,504 | -€4,282 | -43.8% |
| Financial fixed assets | 28 | €25 | €0 | -€25 | -100.0% |
| Current assets | 29/58 | €33,305 | €20,162 | -€13,143 | -39.5% |
| Amounts receivable within one year | 40/41 | €4,186 | €4,211 | +€25 | +0.6% |
| Trade receivables | 40 | €4,151 | €4,211 | +€61 | +1.5% |
| Other amounts receivable | 41 | €36 | €0 | -€36 | -100.0% |
| Cash at bank and in hand | 54/58 | €27,840 | €15,433 | -€12,407 | -44.6% |
| Deferred charges and accrued income | 490/1 | €1,279 | €518 | -€762 | -59.5% |
| Total equity and liabilities | 10/49 | €866,273 | €806,142 | -€60,131 | -6.9% |
| Equity | 10/15 | €102,686 | €223,201 | +€120,515 | +117.4% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€21,314 | €99,201 | +€120,515 | |
| Amounts payable | 17/49 | €763,587 | €582,941 | -€180,646 | -23.7% |
| Amounts payable after more than one year | 17 | €759,407 | €579,456 | -€179,951 | -23.7% |
| Other amounts payable | 178/9 | €759,407 | €579,456 | -€179,951 | -23.7% |
| Amounts payable within one year | 42/48 | €3,323 | €2,608 | -€715 | -21.5% |
| Trade debts | 44 | €2,728 | €1,439 | -€1,289 | -47.2% |
| Suppliers | 440/4 | €2,728 | €1,439 | -€1,289 | -47.2% |
| Taxes, remuneration and social security | 45 | €594 | €398 | -€196 | -33.0% |
| Taxes | 450/3 | €594 | €398 | -€196 | -33.0% |
| Other amounts payable | 47/48 | - | €770 | +€770 | |
| Accrued charges and deferred income | 492/3 | €857 | €878 | +€21 | +2.4% |
| Non-recurring operating income | 76A | - | €159,795 | +€159,795 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,005 | €26,757 | -€1,248 | -4.5% |
| Other operating charges | 640/8 | €3,485 | €4,455 | +€970 | +27.8% |
| Gross operating margin | 9900 | €7,767 | €156,741 | +€148,974 | +1918.0% |
| Operating profit (loss) | 9901 | -€23,723 | €125,529 | +€149,252 | |
| Financial charges | 65/66B | €331 | €354 | +€23 | +7.1% |
| Recurring financial charges | 65 | €331 | €354 | +€23 | +7.1% |
| Profit (loss) for the period before taxes | 9903 | -€24,054 | €125,175 | +€149,228 | |
| Income taxes | 67/77 | €3,550 | €4,660 | +€1,110 | +31.3% |
| Profit (loss) for the period | 9904 | -€27,603 | €120,515 | +€148,118 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,603 | €120,515 | +€148,118 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.