VERELST PROJECTS: 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 PROJECTS
Largest movements
- Receivables within one year +€63,397
up €63,397 (+253%), from €25,032 to €88,428
of which Other amounts receivable: +€54,810
- Tangible fixed assets +€14,883
up €14,883 (+925%), from €1,609 to €16,491
of which Furniture and vehicles: +€7,503
- Receivables after one year -€3,000
down €3,000 (-16.7%), from €18,000 to €15,000
- Reserves +€49,038
up €49,038 (+156%), from €31,513 to €80,551
- Tax, wage and social debts +€21,359
up €21,359 (+181%), from €11,801 to €33,160
- Trade debts +€5,865
up €5,865 (+299%), from €1,964 to €7,829
- Gross operating margin +€50,628
up €50,628 (+209%), from €24,228 to €74,857
- Taxes +€14,596
up €14,596 (+270%), from €5,413 to €20,009
- Depreciation +€2,945
up €2,945 (+1,217%), from €242 to €3,187
- Financial income +€1,740
up €1,740 (+391%), from €445 to €2,184
- Other operating charges -€1,520
down €1,520 (-51.2%), from €2,967 to €1,448
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 | €46,787 | €123,050 | +€76,262 | +163% |
| Fixed assets | 21/28 | €1,609 | €16,491 | +€14,883 | +925% |
| Tangible fixed assets | 22/27 | €1,609 | €16,491 | +€14,883 | +925% |
| Land and buildings | 22 | - | €4,159 | +€4,159 | |
| Plant, machinery and equipment | 23 | - | €3,221 | +€3,221 | |
| Furniture and vehicles | 24 | €1,609 | €9,112 | +€7,503 | +466% |
| Current assets | 29/58 | €45,179 | €106,558 | +€61,380 | +136% |
| Amounts receivable after more than one year | 29 | €18,000 | €15,000 | -€3,000 | -16.7% |
| Other amounts receivable | 291 | €18,000 | €15,000 | -€3,000 | -16.7% |
| Amounts receivable within one year | 40/41 | €25,032 | €88,428 | +€63,397 | +253% |
| Trade receivables | 40 | €11,286 | €19,873 | +€8,587 | +76.1% |
| Other amounts receivable | 41 | €13,746 | €68,556 | +€54,810 | +399% |
| Cash at bank and in hand | 54/58 | €1,841 | €2,799 | +€959 | +52.1% |
| Deferred charges and accrued income | 490/1 | €306 | €331 | +€24 | +7.9% |
| Total equity and liabilities | 10/49 | €46,787 | €123,050 | +€76,262 | +163% |
| Equity | 10/15 | €33,023 | €82,061 | +€49,038 | +148% |
| Contributions | 10/11 | €1,510 | €1,510 | = | 0.0% |
| Reserves | 13 | €31,513 | €80,551 | +€49,038 | +156% |
| Distributable reserves | 133 | €31,513 | €80,551 | +€49,038 | +156% |
| Amounts payable | 17/49 | €13,764 | €40,988 | +€27,224 | +198% |
| Amounts payable within one year | 42/48 | €13,764 | €40,988 | +€27,224 | +198% |
| Trade debts | 44 | €1,964 | €7,829 | +€5,865 | +299% |
| Suppliers | 440/4 | €1,964 | €7,829 | +€5,865 | +299% |
| Taxes, remuneration and social security | 45 | €11,801 | €33,160 | +€21,359 | +181% |
| Taxes | 450/3 | €11,801 | €33,160 | +€21,359 | +181% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €242 | €3,187 | +€2,945 | +1,217% |
| Other operating charges | 640/8 | €2,967 | €1,448 | -€1,520 | -51.2% |
| Gross operating margin | 9900 | €24,228 | €74,857 | +€50,628 | +209% |
| Operating profit (loss) | 9901 | €21,019 | €70,221 | +€49,203 | +234% |
| Financial income | 75/76B | €445 | €2,184 | +€1,740 | +391% |
| Recurring financial income | 75 | €445 | €2,184 | +€1,740 | +391% |
| Financial charges | 65/66B | €3,768 | €3,359 | -€410 | -10.9% |
| Recurring financial charges | 65 | €3,768 | €3,359 | -€410 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | €17,695 | €69,047 | +€51,352 | +290% |
| Income taxes | 67/77 | €5,413 | €20,009 | +€14,596 | +270% |
| Profit (loss) for the period | 9904 | €12,282 | €49,038 | +€36,756 | +299% |
| Profit (loss) for the period to be appropriated | 9905 | €12,282 | €49,038 | +€36,756 | +299% |
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.