VERELST: 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.
VERELST
Largest movements
- Receivables within one year -€166,705
down €166,705 (-15.8%), from €1.1m to €889,394
of which Trade receivables: -€235,276
- Stocks and contracts +€48,992
up €48,992 (+599.7%), from €8,170 to €57,161
- Tangible fixed assets +€37,126
up €37,126 (+43.2%), from €85,985 to €123,110
of which Furniture and vehicles: +€43,176
- Trade debts -€101,943
down €101,943 (-32.3%), from €315,625 to €213,681
- Current portion of long-term debt +€32,338
up €32,338 (+264.3%), from €12,233 to €44,571
- Profit (loss) carried forward -€28,722
down €28,722 (-4.0%), from €720,869 to €692,147
- Debts after one year +€26,729
up €26,729 (+131.7%), from €20,300 to €47,029
- Tax, wage and social debts -€15,663
down €15,663 (-22.1%), from €70,979 to €55,316
of which Taxes: -€20,399
- Financial charges +€49,088
up €49,088 (+651.2%), from €7,538 to €56,626
- Gross operating margin -€9,900
down €9,900 (-6.6%), from €149,608 to €139,707
- Staff costs +€8,241
up €8,241 (+10.0%), from €82,727 to €90,968
- Depreciation +€6,544
up €6,544 (+32.0%), from €20,456 to €27,000
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 | €1,169,808 | €1,083,102 | -€86,706 | -7.4% |
| Fixed assets | 21/28 | €85,985 | €123,110 | +€37,126 | +43.2% |
| Tangible fixed assets | 22/27 | €85,985 | €123,110 | +€37,126 | +43.2% |
| Land and buildings | 22 | €47,103 | €39,682 | -€7,421 | -15.8% |
| Plant, machinery and equipment | 23 | €4,445 | €5,815 | +€1,370 | +30.8% |
| Furniture and vehicles | 24 | €34,437 | €77,613 | +€43,176 | +125.4% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,083,823 | €959,992 | -€123,831 | -11.4% |
| Stocks and contracts in progress | 3 | €8,170 | €57,161 | +€48,992 | +599.7% |
| Stocks | 30/36 | €8,170 | €57,161 | +€48,992 | +599.7% |
| Amounts receivable within one year | 40/41 | €1,056,099 | €889,394 | -€166,705 | -15.8% |
| Trade receivables | 40 | €355,759 | €120,483 | -€235,276 | -66.1% |
| Other amounts receivable | 41 | €700,340 | €768,911 | +€68,572 | +9.8% |
| Cash at bank and in hand | 54/58 | €14,958 | €6,742 | -€8,216 | -54.9% |
| Deferred charges and accrued income | 490/1 | €4,597 | €6,694 | +€2,098 | +45.6% |
| Total equity and liabilities | 10/49 | €1,169,808 | €1,083,102 | -€86,706 | -7.4% |
| Equity | 10/15 | €741,484 | €712,762 | -€28,722 | -3.9% |
| Contributions | 10/11 | €18,741 | €18,741 | = | 0.0% |
| Reserves | 13 | €1,874 | €1,874 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,874 | €1,874 | = | 0.0% |
| Profit (loss) carried forward | 14 | €720,869 | €692,147 | -€28,722 | -4.0% |
| Amounts payable | 17/49 | €428,324 | €370,340 | -€57,984 | -13.5% |
| Amounts payable after more than one year | 17 | €20,300 | €47,029 | +€26,729 | +131.7% |
| Financial debts | 170/4 | €20,300 | €47,029 | +€26,729 | +131.7% |
| Amounts payable within one year | 42/48 | €405,175 | €323,311 | -€81,864 | -20.2% |
| Current portion of amounts payable after more than one year | 42 | €12,233 | €44,571 | +€32,338 | +264.3% |
| Trade debts | 44 | €315,625 | €213,681 | -€101,943 | -32.3% |
| Suppliers | 440/4 | €315,625 | €213,681 | -€101,943 | -32.3% |
| Taxes, remuneration and social security | 45 | €70,979 | €55,316 | -€15,663 | -22.1% |
| Taxes | 450/3 | €60,026 | €39,626 | -€20,399 | -34.0% |
| Remuneration and social security | 454/9 | €10,953 | €15,689 | +€4,736 | +43.2% |
| Other amounts payable | 47/48 | €6,338 | €9,742 | +€3,404 | +53.7% |
| Accrued charges and deferred income | 492/3 | €2,849 | €0 | -€2,849 | -100.0% |
| Remuneration, social security and pensions | 62 | €82,727 | €90,968 | +€8,241 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,456 | €27,000 | +€6,544 | +32.0% |
| Other operating charges | 640/8 | €4,500 | €3,565 | -€935 | -20.8% |
| Gross operating margin | 9900 | €149,608 | €139,707 | -€9,900 | -6.6% |
| Operating profit (loss) | 9901 | €41,925 | €18,175 | -€23,750 | -56.6% |
| Financial income | 75/76B | €21,000 | €21,296 | +€296 | +1.4% |
| Recurring financial income | 75 | €21,000 | €21,296 | +€296 | +1.4% |
| Financial charges | 65/66B | €7,538 | €56,626 | +€49,088 | +651.2% |
| Recurring financial charges | 65 | €7,538 | €56,626 | +€49,088 | +651.2% |
| Profit (loss) for the period before taxes | 9903 | €55,387 | -€17,155 | -€72,542 | |
| Income taxes | 67/77 | €12,433 | €11,567 | -€867 | -7.0% |
| Profit (loss) for the period | 9904 | €42,954 | -€28,722 | -€71,676 | |
| Profit (loss) for the period to be appropriated | 9905 | €42,954 | -€28,722 | -€71,676 |
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 8 October 2026 via checked.be.