VERELST-TOPS: 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-TOPS
Largest movements
- Tangible fixed assets +€56,822
new in 2025: €56,822
- Cash -€5,086
down €5,086 (-6.0%), from €84,735 to €79,649
mainly Investment in fixed assets (net) (-€58,754) and Deferred charges and accrued income (-€1,585)
- Deferred charges and accrued income +€1,585
new in 2025: €1,585
- Reserves +€46,477
up €46,477 (+90.5%), from €51,380 to €97,857
- Tax, wage and social debts +€7,998
up €7,998 (+26.4%), from €30,304 to €38,303
of which Taxes: +€12,498
- Gross operating margin -€2,070
down €2,070 (-3.1%), from €66,910 to €64,840
- Depreciation +€1,932
new in 2025: €1,932
- Taxes +€811
up €811 (+5.4%), from €15,039 to €15,851
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 | €84,946 | €139,401 | +€54,455 | +64.1% |
| Fixed assets | 21/28 | - | €56,822 | +€56,822 | |
| Tangible fixed assets | 22/27 | - | €56,822 | +€56,822 | |
| Furniture and vehicles | 24 | - | €56,822 | +€56,822 | |
| Current assets | 29/58 | €84,946 | €82,579 | -€2,367 | -2.8% |
| Amounts receivable within one year | 40/41 | €211 | €1,345 | +€1,134 | +538% |
| Other amounts receivable | 41 | €211 | €1,345 | +€1,134 | +538% |
| Cash at bank and in hand | 54/58 | €84,735 | €79,649 | -€5,086 | -6.0% |
| Deferred charges and accrued income | 490/1 | - | €1,585 | +€1,585 | |
| Total equity and liabilities | 10/49 | €84,946 | €139,401 | +€54,455 | +64.1% |
| Equity | 10/15 | €54,380 | €100,857 | +€46,477 | +85.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €51,380 | €97,857 | +€46,477 | +90.5% |
| Distributable reserves | 133 | €51,380 | €97,857 | +€46,477 | +90.5% |
| Amounts payable | 17/49 | €30,566 | €38,545 | +€7,978 | +26.1% |
| Amounts payable within one year | 42/48 | €30,566 | €38,545 | +€7,978 | +26.1% |
| Trade debts | 44 | €262 | €242 | -€20 | -7.6% |
| Suppliers | 440/4 | €262 | €242 | -€20 | -7.6% |
| Taxes, remuneration and social security | 45 | €30,304 | €38,303 | +€7,998 | +26.4% |
| Taxes | 450/3 | €25,804 | €38,303 | +€12,498 | +48.4% |
| Remuneration and social security | 454/9 | €4,500 | €0 | -€4,500 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,932 | +€1,932 | |
| Other operating charges | 640/8 | €450 | €520 | +€69 | +15.4% |
| Gross operating margin | 9900 | €66,910 | €64,840 | -€2,070 | -3.1% |
| Operating profit (loss) | 9901 | €66,460 | €62,388 | -€4,071 | -6.1% |
| Financial income | 75/76B | - | €37 | +€37 | |
| Recurring financial income | 75 | - | €37 | +€37 | |
| Financial charges | 65/66B | €41 | €97 | +€57 | +139% |
| Recurring financial charges | 65 | €41 | €97 | +€57 | +139% |
| Profit (loss) for the period before taxes | 9903 | €66,419 | €62,328 | -€4,091 | -6.2% |
| Income taxes | 67/77 | €15,039 | €15,851 | +€811 | +5.4% |
| Profit (loss) for the period | 9904 | €51,380 | €46,477 | -€4,902 | -9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €51,380 | €46,477 | -€4,902 | -9.5% |
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 17 October 2026 via checked.be.