VERDUCO: 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.
VERDUCO
Largest movements
- Cash +€42,215
up €42,215 (+60.5%), from €69,722 to €111,937
mainly Other debts (+€41,149) and Depreciation (+€27,283)
- Receivables within one year -€23,252
down €23,252 (-66.1%), from €35,184 to €11,932
of which Trade receivables: -€22,946
- Tangible fixed assets -€20,043
down €20,043 (-39.1%), from €51,199 to €31,156
of which Land and buildings: -€13,135
- Reserves -€44,855
down €44,855 (-48.0%), from €93,466 to €48,611
- Other debts +€41,149
up €41,149 (+99.8%), from €41,224 to €82,372
- Tax, wage and social debts +€6,806
up €6,806 (+71.2%), from €9,553 to €16,360
- Trade debts -€4,180
down €4,180 (-73.8%), from €5,662 to €1,482
- Depreciation -€1,426
down €1,426 (-5.0%), from €28,709 to €27,283
- Taxes +€1,177
up €1,177 (+11.0%), from €10,715 to €11,892
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 | €156,105 | €155,024 | -€1,081 | -0.7% |
| Fixed assets | 21/28 | €51,199 | €31,156 | -€20,043 | -39.1% |
| Tangible fixed assets | 22/27 | €51,199 | €31,156 | -€20,043 | -39.1% |
| Land and buildings | 22 | €21,731 | €8,595 | -€13,135 | -60.4% |
| Plant, machinery and equipment | 23 | €23,833 | €13,771 | -€10,062 | -42.2% |
| Furniture and vehicles | 24 | €5,635 | €8,789 | +€3,155 | +56.0% |
| Current assets | 29/58 | €104,906 | €123,869 | +€18,962 | +18.1% |
| Amounts receivable within one year | 40/41 | €35,184 | €11,932 | -€23,252 | -66.1% |
| Trade receivables | 40 | €34,822 | €11,876 | -€22,946 | -65.9% |
| Other amounts receivable | 41 | €362 | €56 | -€306 | -84.6% |
| Cash at bank and in hand | 54/58 | €69,722 | €111,937 | +€42,215 | +60.5% |
| Total equity and liabilities | 10/49 | €156,105 | €155,024 | -€1,081 | -0.7% |
| Equity | 10/15 | €99,666 | €54,811 | -€44,855 | -45.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €93,466 | €48,611 | -€44,855 | -48.0% |
| Distributable reserves | 133 | €93,466 | €48,611 | -€44,855 | -48.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €56,439 | €100,214 | +€43,775 | +77.6% |
| Amounts payable within one year | 42/48 | €56,439 | €100,214 | +€43,775 | +77.6% |
| Trade debts | 44 | €5,662 | €1,482 | -€4,180 | -73.8% |
| Suppliers | 440/4 | €5,662 | €1,482 | -€4,180 | -73.8% |
| Taxes, remuneration and social security | 45 | €9,553 | €16,360 | +€6,806 | +71.2% |
| Taxes | 450/3 | €9,553 | €16,360 | +€6,806 | +71.2% |
| Other amounts payable | 47/48 | €41,224 | €82,372 | +€41,149 | +99.8% |
| Non-recurring operating income | 76A | €10,345 | €0 | -€10,345 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,709 | €27,283 | -€1,426 | -5.0% |
| Other operating charges | 640/8 | €1,958 | €2,064 | +€107 | +5.4% |
| Gross operating margin | 9900 | €70,668 | €70,667 | -€1 | 0.0% |
| Operating profit (loss) | 9901 | €40,001 | €41,320 | +€1,318 | +3.3% |
| Financial income | 75/76B | €250 | €127 | -€124 | -49.4% |
| Recurring financial income | 75 | €250 | €127 | -€124 | -49.4% |
| Financial charges | 65/66B | €5,040 | €4,428 | -€612 | -12.1% |
| Recurring financial charges | 65 | €5,040 | €4,428 | -€612 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €35,211 | €37,018 | +€1,807 | +5.1% |
| Income taxes | 67/77 | €10,715 | €11,892 | +€1,177 | +11.0% |
| Profit (loss) for the period | 9904 | €24,496 | €25,126 | +€630 | +2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €24,496 | €25,126 | +€630 | +2.6% |
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 5 October 2026 via checked.be.