VERDRA: 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.
VERDRA
Largest movements
- Cash +€239,370
up €239,370 (+74.9%), from €319,480 to €558,851
mainly Net result for the year (+€229,744) and Depreciation (+€63,970)
- Tangible fixed assets -€59,629
down €59,629 (-32.6%), from €182,847 to €123,219
of which Plant, machinery and equipment: -€54,851
- Stocks and contracts +€29,852
up €29,852 (+10.3%), from €291,112 to €320,964
of which Contracts in progress: +€15,402
- Profit (loss) carried forward +€229,744
up €229,744 (+21.9%), from €1.0m to €1.3m
- Debts after one year -€51,457
down €51,457 (-59.3%), from €86,787 to €35,331
- Tax, wage and social debts +€17,863
up €17,863 (+74.8%), from €23,891 to €41,754
of which Taxes: +€19,165
- Gross operating margin +€59,936
up €59,936 (+14.1%), from €423,641 to €483,577
- Taxes +€22,220
up €22,220 (+39.3%), from €56,496 to €78,716
- Staff costs -€18,070
down €18,070 (-14.0%), from €129,092 to €111,023
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 | €1,267,851 | €1,472,173 | +€204,322 | +16.1% |
| Fixed assets | 21/28 | €182,857 | €123,228 | -€59,629 | -32.6% |
| Tangible fixed assets | 22/27 | €182,847 | €123,219 | -€59,629 | -32.6% |
| Plant, machinery and equipment | 23 | €168,576 | €113,724 | -€54,851 | -32.5% |
| Furniture and vehicles | 24 | €14,272 | €9,494 | -€4,777 | -33.5% |
| Financial fixed assets | 28 | €10 | €10 | = | 0.0% |
| Current assets | 29/58 | €1,084,994 | €1,348,945 | +€263,951 | +24.3% |
| Stocks and contracts in progress | 3 | €291,112 | €320,964 | +€29,852 | +10.3% |
| Stocks | 30/36 | €182,786 | €197,236 | +€14,450 | +7.9% |
| Contracts in progress | 37 | €108,326 | €123,728 | +€15,402 | +14.2% |
| Amounts receivable within one year | 40/41 | €171,555 | €168,404 | -€3,151 | -1.8% |
| Trade receivables | 40 | €171,031 | €154,546 | -€16,485 | -9.6% |
| Other amounts receivable | 41 | €524 | €13,858 | +€13,334 | +2,544% |
| Current investments | 50/53 | €300,000 | €300,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €319,480 | €558,851 | +€239,370 | +74.9% |
| Deferred charges and accrued income | 490/1 | €2,847 | €727 | -€2,121 | -74.5% |
| Total equity and liabilities | 10/49 | €1,267,851 | €1,472,173 | +€204,322 | +16.1% |
| Equity | 10/15 | €1,095,147 | €1,324,891 | +€229,744 | +21.0% |
| Contributions | 10/11 | €42,142 | €42,142 | = | 0.0% |
| Reserves | 13 | €4,214 | €4,214 | = | 0.0% |
| Distributable reserves | 133 | €4,214 | €4,214 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,048,791 | €1,278,535 | +€229,744 | +21.9% |
| Amounts payable | 17/49 | €172,704 | €147,282 | -€25,422 | -14.7% |
| Amounts payable after more than one year | 17 | €86,787 | €35,331 | -€51,457 | -59.3% |
| Financial debts | 170/4 | €86,787 | €35,331 | -€51,457 | -59.3% |
| Amounts payable within one year | 42/48 | €85,917 | €111,951 | +€26,034 | +30.3% |
| Current portion of amounts payable after more than one year | 42 | €49,918 | €51,457 | +€1,538 | +3.1% |
| Trade debts | 44 | €10,198 | €17,118 | +€6,920 | +67.9% |
| Suppliers | 440/4 | €10,198 | €17,118 | +€6,920 | +67.9% |
| Taxes, remuneration and social security | 45 | €23,891 | €41,754 | +€17,863 | +74.8% |
| Taxes | 450/3 | €15,375 | €34,540 | +€19,165 | +125% |
| Remuneration and social security | 454/9 | €8,516 | €7,214 | -€1,302 | -15.3% |
| Other amounts payable | 47/48 | €1,910 | €1,623 | -€288 | -15.1% |
| Remuneration, social security and pensions | 62 | €129,092 | €111,023 | -€18,070 | -14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,654 | €63,970 | -€1,685 | -2.6% |
| Other operating charges | 640/8 | €1,849 | €2,003 | +€154 | +8.3% |
| Gross operating margin | 9900 | €423,641 | €483,577 | +€59,936 | +14.1% |
| Operating profit (loss) | 9901 | €227,046 | €306,582 | +€79,536 | +35.0% |
| Financial income | 75/76B | €2,032 | €5,951 | +€3,919 | +193% |
| Recurring financial income | 75 | €2,032 | €5,951 | +€3,919 | +193% |
| Financial charges | 65/66B | €5,737 | €4,072 | -€1,665 | -29.0% |
| Recurring financial charges | 65 | €5,737 | €4,072 | -€1,665 | -29.0% |
| Profit (loss) for the period before taxes | 9903 | €223,341 | €308,460 | +€85,120 | +38.1% |
| Income taxes | 67/77 | €56,496 | €78,716 | +€22,220 | +39.3% |
| Profit (loss) for the period | 9904 | €166,845 | €229,744 | +€62,900 | +37.7% |
| Profit (loss) for the period to be appropriated | 9905 | €166,845 | €229,744 | +€62,900 | +37.7% |
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 14 October 2026 via checked.be.