VERELST DANNY: 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 DANNY
Largest movements
- Tangible fixed assets -€218,986
down €218,986 (-19.8%), from €1.1m to €886,536
of which Land and buildings: -€218,508
- Cash +€77,161
up €77,161 (+52.8%), from €146,019 to €223,180
mainly Investment in fixed assets (net) (+€182,000) and Receivables within one year (+€58,548)
- Receivables within one year -€58,548
down €58,548 (-45.2%), from €129,578 to €71,030
of which Trade receivables: -€52,308
- Debts after one year -€238,264
down €238,264 (-61.1%), from €389,952 to €151,688
- Reserves +€49,976
up €49,976 (+22.8%), from €219,304 to €269,281
- Trade debts -€24,100
down €24,100 (-95.3%), from €25,297 to €1,197
- Gross operating margin +€24,057
up €24,057 (+23.8%), from €100,926 to €124,983
- Taxes +€8,091
up €8,091 (+52.7%), from €15,365 to €23,456
- Depreciation -€1,800
down €1,800 (-4.6%), from €38,786 to €36,986
- Financial income -€1,692
down €1,692 (-92.6%), from €1,828 to €135
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 | €1,398,855 | €1,185,689 | -€213,166 | -15.2% |
| Fixed assets | 21/28 | €1,105,522 | €886,536 | -€218,986 | -19.8% |
| Tangible fixed assets | 22/27 | €1,105,522 | €886,536 | -€218,986 | -19.8% |
| Land and buildings | 22 | €1,104,234 | €885,725 | -€218,508 | -19.8% |
| Plant, machinery and equipment | 23 | €1,289 | €811 | -€478 | -37.1% |
| Current assets | 29/58 | €293,333 | €299,153 | +€5,820 | +2.0% |
| Stocks and contracts in progress | 3 | €13,176 | €4,943 | -€8,233 | -62.5% |
| Stocks | 30/36 | €13,176 | €4,943 | -€8,233 | -62.5% |
| Amounts receivable within one year | 40/41 | €129,578 | €71,030 | -€58,548 | -45.2% |
| Trade receivables | 40 | €107,509 | €55,201 | -€52,308 | -48.7% |
| Other amounts receivable | 41 | €22,068 | €15,828 | -€6,240 | -28.3% |
| Cash at bank and in hand | 54/58 | €146,019 | €223,180 | +€77,161 | +52.8% |
| Deferred charges and accrued income | 490/1 | €4,560 | €0 | -€4,560 | -100% |
| Total equity and liabilities | 10/49 | €1,398,855 | €1,185,689 | -€213,166 | -15.2% |
| Equity | 10/15 | €940,691 | €990,667 | +€49,976 | +5.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €219,304 | €269,281 | +€49,976 | +22.8% |
| Distributable reserves | 133 | €219,304 | €269,281 | +€49,976 | +22.8% |
| Profit (loss) carried forward | 14 | €702,795 | €702,795 | = | 0.0% |
| Amounts payable | 17/49 | €458,164 | €195,022 | -€263,142 | -57.4% |
| Amounts payable after more than one year | 17 | €389,952 | €151,688 | -€238,264 | -61.1% |
| Financial debts | 170/4 | €389,952 | €151,688 | -€238,264 | -61.1% |
| Amounts payable within one year | 42/48 | €68,212 | €43,334 | -€24,878 | -36.5% |
| Current portion of amounts payable after more than one year | 42 | €37,761 | €38,264 | +€503 | +1.3% |
| Trade debts | 44 | €25,297 | €1,197 | -€24,100 | -95.3% |
| Suppliers | 440/4 | €25,297 | €1,197 | -€24,100 | -95.3% |
| Advances received on contracts in progress | 46 | - | €2,025 | +€2,025 | |
| Other amounts payable | 47/48 | €5,153 | €1,848 | -€3,305 | -64.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €34,452 | +€34,452 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,786 | €36,986 | -€1,800 | -4.6% |
| Other operating charges | 640/8 | €6,393 | €5,223 | -€1,170 | -18.3% |
| Gross operating margin | 9900 | €100,926 | €124,983 | +€24,057 | +23.8% |
| Operating profit (loss) | 9901 | €55,746 | €82,774 | +€27,028 | +48.5% |
| Financial income | 75/76B | €1,828 | €135 | -€1,692 | -92.6% |
| Recurring financial income | 75 | €1,828 | €135 | -€1,692 | -92.6% |
| Financial charges | 65/66B | €9,418 | €9,476 | +€58 | +0.6% |
| Recurring financial charges | 65 | €9,418 | €9,476 | +€58 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €48,156 | €73,433 | +€25,277 | +52.5% |
| Income taxes | 67/77 | €15,365 | €23,456 | +€8,091 | +52.7% |
| Profit (loss) for the period | 9904 | €32,790 | €49,976 | +€17,186 | +52.4% |
| Profit (loss) for the period to be appropriated | 9905 | €32,790 | €49,976 | +€17,186 | +52.4% |
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 15 October 2026 via checked.be.