VERDONCK: 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.
VERDONCK
Largest movements
- Cash +€70,254
up €70,254 (+296%), from €23,725 to €93,979
mainly Receivables within one year (+€59,395) and Depreciation (+€47,937)
- Receivables within one year -€59,395
down €59,395 (-48.2%), from €123,209 to €63,814
of which Trade receivables: -€60,468
- Stocks and contracts -€11,983
down €11,983 (-6.7%), from €179,502 to €167,519
- Tangible fixed assets -€11,465
down €11,465 (-4.6%), from €247,377 to €235,912
of which Land and buildings: -€9,043
- Debts after one year -€32,022
down €32,022 (-40.4%), from €79,343 to €47,321
- Trade debts +€29,820
up €29,820 (+201%), from €14,815 to €44,635
- Reserves -€21,034
down €21,034 (-12.2%), from €172,930 to €151,896
of which Distributable reserves: -€21,033
- Tax, wage and social debts +€10,288
up €10,288 (+33.9%), from €30,320 to €40,608
of which Remuneration and social security: +€5,918
- Other debts +€6,906
up €6,906 (+16.5%), from €41,901 to €48,807
- Turnover -€574,862
no longer reported in 2025 (was €574,862)
- Purchases and services -€425,492
no longer reported in 2025 (was €425,492)
- Gross operating margin -€9,015
down €9,015 (-5.6%), from €161,441 to €152,426
- Staff costs +€6,925
up €6,925 (+17.4%), from €39,892 to €46,817
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 | €579,661 | €567,805 | -€11,856 | -2.0% |
| Fixed assets | 21/28 | €247,377 | €235,912 | -€11,465 | -4.6% |
| Tangible fixed assets | 22/27 | €247,377 | €235,912 | -€11,465 | -4.6% |
| Land and buildings | 22 | €162,394 | €153,351 | -€9,043 | -5.6% |
| Plant, machinery and equipment | 23 | €50,335 | €56,569 | +€6,234 | +12.4% |
| Furniture and vehicles | 24 | €34,648 | €25,992 | -€8,656 | -25.0% |
| Current assets | 29/58 | €332,284 | €331,894 | -€390 | -0.1% |
| Stocks and contracts in progress | 3 | €179,502 | €167,519 | -€11,983 | -6.7% |
| Stocks | 30/36 | €179,502 | €167,519 | -€11,983 | -6.7% |
| Amounts receivable within one year | 40/41 | €123,209 | €63,814 | -€59,395 | -48.2% |
| Trade receivables | 40 | €123,209 | €62,741 | -€60,468 | -49.1% |
| Other amounts receivable | 41 | - | €1,073 | +€1,073 | |
| Cash at bank and in hand | 54/58 | €23,725 | €93,979 | +€70,254 | +296% |
| Deferred charges and accrued income | 490/1 | €5,848 | €6,581 | +€733 | +12.5% |
| Total equity and liabilities | 10/49 | €579,661 | €567,805 | -€11,856 | -2.0% |
| Equity | 10/15 | €375,446 | €354,412 | -€21,034 | -5.6% |
| Contributions | 10/11 | €92,625 | €92,625 | = | 0.0% |
| Capital | 10 | €92,625 | €92,625 | = | 0.0% |
| Issued capital | 100 | €92,625 | €92,625 | = | 0.0% |
| Reserves | 13 | €172,930 | €151,896 | -€21,034 | -12.2% |
| Non-distributable reserves | 130/1 | €11,225 | €11,225 | -€0 | 0.0% |
| Legal reserve | 130 | €11,225 | €11,225 | -€0 | 0.0% |
| Distributable reserves | 133 | €161,705 | €140,672 | -€21,033 | -13.0% |
| Profit (loss) carried forward | 14 | €109,891 | €109,891 | +€0 | 0.0% |
| Amounts payable | 17/49 | €204,215 | €213,393 | +€9,178 | +4.5% |
| Amounts payable after more than one year | 17 | €79,343 | €47,321 | -€32,022 | -40.4% |
| Financial debts | 170/4 | €79,343 | €47,321 | -€32,022 | -40.4% |
| Amounts payable within one year | 42/48 | €123,470 | €166,072 | +€42,602 | +34.5% |
| Current portion of amounts payable after more than one year | 42 | €36,434 | €32,022 | -€4,412 | -12.1% |
| Trade debts | 44 | €14,815 | €44,635 | +€29,820 | +201% |
| Suppliers | 440/4 | €14,815 | €44,635 | +€29,820 | +201% |
| Taxes, remuneration and social security | 45 | €30,320 | €40,608 | +€10,288 | +33.9% |
| Taxes | 450/3 | €20,691 | €25,061 | +€4,370 | +21.1% |
| Remuneration and social security | 454/9 | €9,629 | €15,547 | +€5,918 | +61.5% |
| Other amounts payable | 47/48 | €41,901 | €48,807 | +€6,906 | +16.5% |
| Accrued charges and deferred income | 492/3 | €1,402 | €0 | -€1,402 | -100% |
| Turnover | 70 | €574,862 | - | -€574,862 | |
| Goods, raw materials, services and sundry goods | 60/61 | €425,492 | - | -€425,492 | |
| Remuneration, social security and pensions | 62 | €39,892 | €46,817 | +€6,925 | +17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,877 | €47,937 | -€2,940 | -5.8% |
| Other operating charges | 640/8 | €3,612 | €4,981 | +€1,369 | +37.9% |
| Gross operating margin | 9900 | €161,441 | €152,426 | -€9,015 | -5.6% |
| Operating profit (loss) | 9901 | €67,060 | €52,690 | -€14,370 | -21.4% |
| Financial income | 75/76B | €4 | €741 | +€737 | +18,414% |
| Recurring financial income | 75 | €4 | €741 | +€737 | +18,414% |
| Financial charges | 65/66B | €7,008 | €6,281 | -€727 | -10.4% |
| Recurring financial charges | 65 | €7,008 | €6,281 | -€727 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €60,056 | €47,149 | -€12,907 | -21.5% |
| Income taxes | 67/77 | €18,752 | €18,008 | -€744 | -4.0% |
| Profit (loss) for the period | 9904 | €41,304 | €29,141 | -€12,163 | -29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €41,304 | €29,141 | -€12,163 | -29.4% |
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 13 October 2026 via checked.be.