VERDOENE: 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.
VERDOENE
Largest movements
- Tangible fixed assets -€150,956
down €150,956 (-7.7%), from €2.0m to €1.8m
of which Land and buildings: -€133,899
- Cash +€144,126
up €144,126 (+56.0%), from €257,421 to €401,547
mainly Depreciation (+€150,956) and Net result for the year (+€28,472)
- Receivables within one year +€25,407
up €25,407 (+411%), from €6,183 to €31,590
of which Trade receivables: +€22,865
- Reserves +€28,472
up €28,472 (+14.4%), from €197,079 to €225,551
of which Distributable reserves: +€28,472
- Financial charges +€27,535
up €27,535 (+89.6%), from €30,724 to €58,259
- Gross operating margin +€19,251
up €19,251 (+7.5%), from €258,016 to €277,267
- Depreciation +€6,661
up €6,661 (+4.6%), from €144,295 to €150,956
- Taxes -€6,083
down €6,083 (-29.9%), from €20,316 to €14,233
- Other operating charges +€3,866
up €3,866 (+18.0%), from €21,483 to €25,349
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 | €2,222,471 | €2,240,124 | +€17,653 | +0.8% |
| Fixed assets | 21/28 | €1,953,818 | €1,802,862 | -€150,956 | -7.7% |
| Tangible fixed assets | 22/27 | €1,953,418 | €1,802,462 | -€150,956 | -7.7% |
| Land and buildings | 22 | €1,882,185 | €1,748,286 | -€133,899 | -7.1% |
| Plant, machinery and equipment | 23 | €1,176 | €639 | -€538 | -45.7% |
| Furniture and vehicles | 24 | €70,057 | €53,537 | -€16,520 | -23.6% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €268,653 | €437,262 | +€168,609 | +62.8% |
| Amounts receivable within one year | 40/41 | €6,183 | €31,590 | +€25,407 | +411% |
| Trade receivables | 40 | - | €22,865 | +€22,865 | |
| Other amounts receivable | 41 | €6,183 | €8,725 | +€2,542 | +41.1% |
| Cash at bank and in hand | 54/58 | €257,421 | €401,547 | +€144,126 | +56.0% |
| Deferred charges and accrued income | 490/1 | €5,049 | €4,125 | -€924 | -18.3% |
| Total equity and liabilities | 10/49 | €2,222,471 | €2,240,124 | +€17,653 | +0.8% |
| Equity | 10/15 | €752,179 | €780,651 | +€28,472 | +3.8% |
| Contributions | 10/11 | €498,400 | €498,400 | = | 0.0% |
| Capital | 10 | €498,400 | €498,400 | = | 0.0% |
| Issued capital | 100 | €498,400 | €498,400 | = | 0.0% |
| Reserves | 13 | €197,079 | €225,551 | +€28,472 | +14.4% |
| Non-distributable reserves | 130/1 | €24,000 | €24,000 | = | 0.0% |
| Legal reserve | 130 | €24,000 | €24,000 | = | 0.0% |
| Distributable reserves | 133 | €173,079 | €201,551 | +€28,472 | +16.5% |
| Profit (loss) carried forward | 14 | €56,700 | €56,700 | = | 0.0% |
| Amounts payable | 17/49 | €1,470,292 | €1,459,473 | -€10,819 | -0.7% |
| Amounts payable after more than one year | 17 | €44,000 | €32,000 | -€12,000 | -27.3% |
| Financial debts | 170/4 | €44,000 | €32,000 | -€12,000 | -27.3% |
| Amounts payable within one year | 42/48 | €1,426,292 | €1,427,473 | +€1,181 | +0.1% |
| Current portion of amounts payable after more than one year | 42 | €29,250 | €12,000 | -€17,250 | -59.0% |
| Trade debts | 44 | €1,070 | €2,340 | +€1,270 | +119% |
| Suppliers | 440/4 | €1,070 | €2,340 | +€1,270 | +119% |
| Taxes, remuneration and social security | 45 | €25,459 | €26,350 | +€892 | +3.5% |
| Taxes | 450/3 | €25,459 | €26,350 | +€892 | +3.5% |
| Other amounts payable | 47/48 | €1,370,514 | €1,386,784 | +€16,270 | +1.2% |
| Non-recurring operating income | 76A | €7,762 | - | -€7,762 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €144,295 | €150,956 | +€6,661 | +4.6% |
| Other operating charges | 640/8 | €21,483 | €25,349 | +€3,866 | +18.0% |
| Gross operating margin | 9900 | €258,016 | €277,267 | +€19,251 | +7.5% |
| Operating profit (loss) | 9901 | €92,238 | €100,962 | +€8,724 | +9.5% |
| Financial income | 75/76B | €2,266 | €2 | -€2,264 | -99.9% |
| Recurring financial income | 75 | €2,266 | €2 | -€2,264 | -99.9% |
| Financial charges | 65/66B | €30,724 | €58,259 | +€27,535 | +89.6% |
| Recurring financial charges | 65 | €30,724 | €58,259 | +€27,535 | +89.6% |
| Profit (loss) for the period before taxes | 9903 | €63,780 | €42,705 | -€21,075 | -33.0% |
| Income taxes | 67/77 | €20,316 | €14,233 | -€6,083 | -29.9% |
| Profit (loss) for the period | 9904 | €43,464 | €28,472 | -€14,992 | -34.5% |
| Profit (loss) for the period to be appropriated | 9905 | €43,464 | €28,472 | -€14,992 | -34.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.