VERDICON: 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.
VERDICON
Largest movements
- Tangible fixed assets +€869,984
up €869,984 (+29.3%), from €3.0m to €3.8m
of which Land and buildings: +€840,491
- Receivables within one year +€137,885
up €137,885 (+100%), from €137,874 to €275,758
of which Trade receivables: +€106,031
- Other debts +€810,000
up €810,000 (+40.5%), from €2.0m to €2.8m
- Trade debts +€179,914
up €179,914 (+837%), from €21,496 to €201,410
- Depreciation +€44,408
up €44,408 (+23.1%), from €192,202 to €236,611
- Gross operating margin +€28,991
up €28,991 (+11.2%), from €259,220 to €288,211
- Write-downs +€26,894
new in 2025: €26,894
- Taxes -€5,899
down €5,899 (-75.8%), from €7,780 to €1,881
- Other operating charges -€3,356
down €3,356 (-9.0%), from €37,120 to €33,765
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 | €3,140,178 | €4,121,253 | +€981,075 | +31.2% |
| Fixed assets | 21/28 | €2,967,194 | €3,837,178 | +€869,984 | +29.3% |
| Tangible fixed assets | 22/27 | €2,967,194 | €3,837,178 | +€869,984 | +29.3% |
| Land and buildings | 22 | €2,332,834 | €3,173,325 | +€840,491 | +36.0% |
| Plant, machinery and equipment | 23 | €881 | €432 | -€449 | -51.0% |
| Furniture and vehicles | 24 | €199,488 | €583,462 | +€383,975 | +192% |
| Assets under construction and advance payments | 27 | €433,991 | €79,959 | -€354,032 | -81.6% |
| Current assets | 29/58 | €172,984 | €284,075 | +€111,091 | +64.2% |
| Amounts receivable after more than one year | 29 | €8,345 | €6,125 | -€2,220 | -26.6% |
| Other amounts receivable | 291 | €8,345 | €6,125 | -€2,220 | -26.6% |
| Amounts receivable within one year | 40/41 | €137,874 | €275,758 | +€137,885 | +100% |
| Trade receivables | 40 | €110,556 | €216,587 | +€106,031 | +95.9% |
| Other amounts receivable | 41 | €27,318 | €59,172 | +€31,854 | +117% |
| Cash at bank and in hand | 54/58 | €15,839 | €261 | -€15,578 | -98.4% |
| Deferred charges and accrued income | 490/1 | €10,926 | €1,930 | -€8,996 | -82.3% |
| Total equity and liabilities | 10/49 | €3,140,178 | €4,121,253 | +€981,075 | +31.2% |
| Equity | 10/15 | €1,116,750 | €1,105,644 | -€11,105 | -1.0% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €3,099 | €3,099 | = | 0.0% |
| Distributable reserves | 133 | €3,099 | €3,099 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,082,664 | €1,071,559 | -€11,105 | -1.0% |
| Amounts payable | 17/49 | €2,023,428 | €3,015,609 | +€992,181 | +49.0% |
| Amounts payable within one year | 42/48 | €2,021,496 | €3,011,410 | +€989,914 | +49.0% |
| Trade debts | 44 | €21,496 | €201,410 | +€179,914 | +837% |
| Suppliers | 440/4 | €21,496 | €201,410 | +€179,914 | +837% |
| Other amounts payable | 47/48 | €2,000,000 | €2,810,000 | +€810,000 | +40.5% |
| Accrued charges and deferred income | 492/3 | €1,932 | €4,199 | +€2,267 | +117% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €192,202 | €236,611 | +€44,408 | +23.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €26,894 | +€26,894 | |
| Other operating charges | 640/8 | €37,120 | €33,765 | -€3,356 | -9.0% |
| Gross operating margin | 9900 | €259,220 | €288,211 | +€28,991 | +11.2% |
| Operating profit (loss) | 9901 | €29,897 | -€9,058 | -€38,955 | |
| Financial income | 75/76B | €1,119 | €532 | -€587 | -52.4% |
| Recurring financial income | 75 | €1,119 | €532 | -€587 | -52.4% |
| Financial charges | 65/66B | €360 | €698 | +€338 | +93.8% |
| Recurring financial charges | 65 | €360 | €698 | +€338 | +93.8% |
| Profit (loss) for the period before taxes | 9903 | €30,656 | -€9,224 | -€39,880 | |
| Income taxes | 67/77 | €7,780 | €1,881 | -€5,899 | -75.8% |
| Profit (loss) for the period | 9904 | €22,876 | -€11,105 | -€33,981 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,876 | -€11,105 | -€33,981 |
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 23 October 2026 via checked.be.