VERDRI: what changed
Two fiscal 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.
VERDRI
Largest movements
- Cash +€56,815
up €56,815 (+64.0%), from €88,784 to €145,599
mainly Net result for the year (+€68,850) and Depreciation (+€45,402)
- Tangible fixed assets +€12,214
up €12,214 (+1.7%), from €710,403 to €722,616
of which Land and buildings: +€28,300
- Reserves +€68,850
up €68,850 (+42.0%), from €163,774 to €232,623
- Debts after one year -€36,912
down €36,912 (-8.0%), from €461,176 to €424,264
- Trade debts +€33,927
up €33,927 (+117.6%), from €28,844 to €62,771
- Tax, wage and social debts +€26,483
up €26,483 (+81.2%), from €32,597 to €59,080
of which Taxes: +€18,112
- Other debts -€21,716
down €21,716 (-21.7%), from €100,049 to €78,333
- Gross operating margin +€59,058
up €59,058 (+30.5%), from €193,864 to €252,922
- Other operating charges -€47,286
down €47,286 (-93.2%), from €50,711 to €3,425
- Staff costs +€30,675
up €30,675 (+57.6%), from €53,263 to €83,938
- Taxes +€19,569
up €19,569 (+320.1%), from €6,113 to €25,682
- Financial charges +€14,833
up €14,833 (+132.0%), from €11,235 to €26,067
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.
Cash bridge derived
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 | €825,868 | €897,883 | +€72,015 | +8.7% |
| Fixed assets | 21/28 | €718,151 | €729,364 | +€11,214 | +1.6% |
| Intangible fixed assets | 21 | €7,748 | €6,748 | -€1,000 | -12.9% |
| Tangible fixed assets | 22/27 | €710,403 | €722,616 | +€12,214 | +1.7% |
| Land and buildings | 22 | €658,563 | €686,863 | +€28,300 | +4.3% |
| Plant, machinery and equipment | 23 | €36,734 | €24,368 | -€12,366 | -33.7% |
| Furniture and vehicles | 24 | €2,032 | €0 | -€2,032 | -100.0% |
| Other tangible fixed assets | 26 | €13,073 | €11,386 | -€1,687 | -12.9% |
| Current assets | 29/58 | €107,717 | €168,518 | +€60,802 | +56.4% |
| Stocks and contracts in progress | 3 | €16,377 | €21,670 | +€5,292 | +32.3% |
| Stocks | 30/36 | €16,377 | €21,670 | +€5,292 | +32.3% |
| Amounts receivable within one year | 40/41 | €437 | €1,080 | +€643 | +147.1% |
| Trade receivables | 40 | €437 | €1,080 | +€643 | +147.1% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €88,784 | €145,599 | +€56,815 | +64.0% |
| Deferred charges and accrued income | 490/1 | €2,118 | €170 | -€1,948 | -92.0% |
| Total equity and liabilities | 10/49 | €825,868 | €897,883 | +€72,015 | +8.7% |
| Equity | 10/15 | €166,774 | €235,623 | +€68,850 | +41.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €163,774 | €232,623 | +€68,850 | +42.0% |
| Distributable reserves | 133 | €163,774 | €232,623 | +€68,850 | +42.0% |
| Amounts payable | 17/49 | €659,094 | €662,259 | +€3,166 | +0.5% |
| Amounts payable after more than one year | 17 | €461,176 | €424,264 | -€36,912 | -8.0% |
| Financial debts | 170/4 | €461,176 | €424,264 | -€36,912 | -8.0% |
| Amounts payable within one year | 42/48 | €197,917 | €237,995 | +€40,078 | +20.2% |
| Current portion of amounts payable after more than one year | 42 | €36,428 | €37,812 | +€1,384 | +3.8% |
| Trade debts | 44 | €28,844 | €62,771 | +€33,927 | +117.6% |
| Suppliers | 440/4 | €28,844 | €62,771 | +€33,927 | +117.6% |
| Taxes, remuneration and social security | 45 | €32,597 | €59,080 | +€26,483 | +81.2% |
| Taxes | 450/3 | €20,834 | €38,945 | +€18,112 | +86.9% |
| Remuneration and social security | 454/9 | €11,764 | €20,134 | +€8,371 | +71.2% |
| Other amounts payable | 47/48 | €100,049 | €78,333 | -€21,716 | -21.7% |
| Non-recurring operating income | 76A | - | €365 | +€365 | |
| Remuneration, social security and pensions | 62 | €53,263 | €83,938 | +€30,675 | +57.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,801 | €45,402 | +€12,601 | +38.4% |
| Other operating charges | 640/8 | €50,711 | €3,425 | -€47,286 | -93.2% |
| Gross operating margin | 9900 | €193,864 | €252,922 | +€59,058 | +30.5% |
| Operating profit (loss) | 9901 | €57,090 | €120,158 | +€63,068 | +110.5% |
| Financial income | 75/76B | €1,650 | €441 | -€1,209 | -73.3% |
| Recurring financial income | 75 | €1,650 | €441 | -€1,209 | -73.3% |
| Financial charges | 65/66B | €11,235 | €26,067 | +€14,833 | +132.0% |
| Recurring financial charges | 65 | €11,235 | €26,067 | +€14,833 | +132.0% |
| Profit (loss) for the period before taxes | 9903 | €47,505 | €94,531 | +€47,027 | +99.0% |
| Income taxes | 67/77 | €6,113 | €25,682 | +€19,569 | +320.1% |
| Profit (loss) for the period | 9904 | €41,392 | €68,850 | +€27,458 | +66.3% |
| Profit (loss) for the period to be appropriated | 9905 | €41,392 | €68,850 | +€27,458 | +66.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.