VERDOODT: 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.
VERDOODT
Largest movements
- Receivables within one year +€229,820
up €229,820 (+24.7%), from €929,418 to €1.2m
of which Trade receivables: +€213,727
- Tangible fixed assets +€64,942
up €64,942 (+6.7%), from €975,657 to €1.0m
of which Plant, machinery and equipment: +€88,966
- Cash +€55,979
new in 2025: €55,979
mainly Depreciation (+€288,207) and Other debts (+€279,520)
- Other debts +€279,520
up €279,520 (+103%), from €272,553 to €552,074
- Reserves +€121,074
up €121,074 (+13.7%), from €884,444 to €1.0m
of which Distributable reserves: +€137,840
- Debts after one year -€58,293
down €58,293 (-34.0%), from €171,357 to €113,064
- Tax, wage and social debts +€55,419
up €55,419 (+153%), from €36,115 to €91,533
- Current portion of long-term debt -€39,314
down €39,314 (-43.0%), from €91,332 to €52,019
- Financial income +€47,122
up €47,122 (+216%), from €21,777 to €68,899
of which Non-recurring financial income: +€38,430
- Depreciation +€9,736
up €9,736 (+3.5%), from €278,470 to €288,207
- Gross operating margin +€6,115
up €6,115 (+1.6%), from €386,934 to €393,049
- Financial charges -€6,076
down €6,076, from €3,841 to -€2,234
of which Financial charges: -€6,810
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 | €1,926,495 | €2,277,432 | +€350,936 | +18.2% |
| Fixed assets | 21/28 | €975,657 | €1,040,599 | +€64,942 | +6.7% |
| Tangible fixed assets | 22/27 | €975,657 | €1,040,599 | +€64,942 | +6.7% |
| Land and buildings | 22 | €96,723 | €73,203 | -€23,520 | -24.3% |
| Plant, machinery and equipment | 23 | €877,175 | €966,141 | +€88,966 | +10.1% |
| Furniture and vehicles | 24 | €1,759 | €1,256 | -€504 | -28.6% |
| Current assets | 29/58 | €950,838 | €1,236,832 | +€285,994 | +30.1% |
| Amounts receivable within one year | 40/41 | €929,418 | €1,159,238 | +€229,820 | +24.7% |
| Trade receivables | 40 | €908,354 | €1,122,081 | +€213,727 | +23.5% |
| Other amounts receivable | 41 | €21,065 | €37,157 | +€16,093 | +76.4% |
| Current investments | 50/53 | €145 | €269 | +€123 | +85.1% |
| Cash at bank and in hand | 54/58 | - | €55,979 | +€55,979 | |
| Deferred charges and accrued income | 490/1 | €21,275 | €21,346 | +€72 | +0.3% |
| Total equity and liabilities | 10/49 | €1,926,495 | €2,277,432 | +€350,936 | +18.2% |
| Equity | 10/15 | €985,706 | €1,106,780 | +€121,074 | +12.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €884,444 | €1,005,518 | +€121,074 | +13.7% |
| Tax-exempt reserves | 132 | €176,212 | €159,446 | -€16,766 | -9.5% |
| Distributable reserves | 133 | €708,232 | €846,072 | +€137,840 | +19.5% |
| Profit (loss) carried forward | 14 | €82,670 | €82,670 | = | 0.0% |
| Provisions and deferred taxes | 16 | €58,738 | €53,150 | -€5,589 | -9.5% |
| Deferred taxes | 168 | €58,738 | €53,150 | -€5,589 | -9.5% |
| Amounts payable | 17/49 | €882,051 | €1,117,502 | +€235,451 | +26.7% |
| Amounts payable after more than one year | 17 | €171,357 | €113,064 | -€58,293 | -34.0% |
| Financial debts | 170/4 | €171,357 | €113,064 | -€58,293 | -34.0% |
| Amounts payable within one year | 42/48 | €710,694 | €1,004,439 | +€293,745 | +41.3% |
| Current portion of amounts payable after more than one year | 42 | €91,332 | €52,019 | -€39,314 | -43.0% |
| Financial debts | 43 | €48,770 | €16,271 | -€32,499 | -66.6% |
| Credit institutions | 430/8 | €48,770 | €16,271 | -€32,499 | -66.6% |
| Trade debts | 44 | €261,924 | €292,542 | +€30,618 | +11.7% |
| Suppliers | 440/4 | €261,924 | €292,542 | +€30,618 | +11.7% |
| Taxes, remuneration and social security | 45 | €36,115 | €91,533 | +€55,419 | +153% |
| Taxes | 450/3 | €36,115 | €91,533 | +€55,419 | +153% |
| Other amounts payable | 47/48 | €272,553 | €552,074 | +€279,520 | +103% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €278,470 | €288,207 | +€9,736 | +3.5% |
| Other operating charges | 640/8 | €3,364 | €4,957 | +€1,593 | +47.4% |
| Gross operating margin | 9900 | €386,934 | €393,049 | +€6,115 | +1.6% |
| Operating profit (loss) | 9901 | €105,099 | €99,884 | -€5,214 | -5.0% |
| Financial income | 75/76B | €21,777 | €68,899 | +€47,122 | +216% |
| Recurring financial income | 75 | €207 | €8,899 | +€8,692 | +4,193% |
| Non-recurring financial income | 76B | €21,570 | €60,000 | +€38,430 | +178% |
| Financial charges | 65/66B | €3,841 | -€2,234 | -€6,076 | |
| Recurring financial charges | 65 | €3,841 | -€2,969 | -€6,810 | |
| Non-recurring financial charges | 66B | - | €734 | +€734 | |
| Profit (loss) for the period before taxes | 9903 | €123,035 | €171,018 | +€47,983 | +39.0% |
| Transfer from deferred taxes | 780 | €18,446 | €20,589 | +€2,143 | +11.6% |
| Transfer to deferred taxes | 680 | €5,393 | €15,000 | +€9,608 | +178% |
| Income taxes | 67/77 | €56,177 | €55,534 | -€643 | -1.1% |
| Profit (loss) for the period | 9904 | €79,912 | €121,074 | +€41,162 | +51.5% |
| Transfer from tax-exempt reserves | 789 | €55,338 | €61,766 | +€6,429 | +11.6% |
| Transfer to tax-exempt reserves | 689 | €16,177 | €45,000 | +€28,823 | +178% |
| Profit (loss) for the period to be appropriated | 9905 | €119,072 | €137,840 | +€18,768 | +15.8% |
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 15 October 2026 via checked.be.