VERELST: 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.
VERELST
Largest movements
- Cash +€35,997
up €35,997 (+208%), from €17,291 to €53,288
mainly Receivables after one year (+€24,838) and Net result for the year (+€11,076)
- Receivables after one year -€24,838
down €24,838 (-19.8%), from €125,359 to €100,521
- Receivables within one year -€2,048
down €2,048 (-86.0%), from €2,381 to €333
of which Trade receivables: -€2,378
- Reserves +€11,076
up €11,076 (+8.1%), from €135,975 to €147,051
- Trade debts -€1,965
no longer reported in 2025 (was €1,965)
- Gross operating margin +€8,097
up €8,097 (+186%), from €4,361 to €12,458
- Depreciation -€422
no longer reported in 2025 (was €422)
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 | €145,031 | €154,142 | +€9,111 | +6.3% |
| Current assets | 29/58 | €145,031 | €154,142 | +€9,111 | +6.3% |
| Amounts receivable after more than one year | 29 | €125,359 | €100,521 | -€24,838 | -19.8% |
| Other amounts receivable | 291 | €125,359 | €100,521 | -€24,838 | -19.8% |
| Amounts receivable within one year | 40/41 | €2,381 | €333 | -€2,048 | -86.0% |
| Trade receivables | 40 | €2,378 | - | -€2,378 | |
| Other amounts receivable | 41 | €3 | €333 | +€330 | +10,990% |
| Cash at bank and in hand | 54/58 | €17,291 | €53,288 | +€35,997 | +208% |
| Total equity and liabilities | 10/49 | €145,031 | €154,142 | +€9,111 | +6.3% |
| Equity | 10/15 | €142,975 | €154,051 | +€11,076 | +7.7% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €135,975 | €147,051 | +€11,076 | +8.1% |
| Distributable reserves | 133 | €135,975 | €147,051 | +€11,076 | +8.1% |
| Amounts payable | 17/49 | €2,056 | €91 | -€1,965 | -95.6% |
| Amounts payable within one year | 42/48 | €2,056 | €91 | -€1,965 | -95.6% |
| Trade debts | 44 | €1,965 | - | -€1,965 | |
| Suppliers | 440/4 | €1,965 | - | -€1,965 | |
| Other amounts payable | 47/48 | €91 | €91 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €422 | - | -€422 | |
| Other operating charges | 640/8 | €1,032 | €1,086 | +€54 | +5.2% |
| Gross operating margin | 9900 | €4,361 | €12,458 | +€8,097 | +186% |
| Operating profit (loss) | 9901 | €2,907 | €11,372 | +€8,465 | +291% |
| Financial charges | 65/66B | €341 | €295 | -€46 | -13.4% |
| Recurring financial charges | 65 | €341 | €295 | -€46 | -13.4% |
| Profit (loss) for the period before taxes | 9903 | €2,565 | €11,076 | +€8,511 | +332% |
| Profit (loss) for the period | 9904 | €2,565 | €11,076 | +€8,511 | +332% |
| Profit (loss) for the period to be appropriated | 9905 | €2,565 | €11,076 | +€8,511 | +332% |
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 29 October 2026 via checked.be.