VEREM: 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.
VEREM
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Other debts -€128,810
down €128,810 (-89.5%), from €143,922 to €15,112
- Profit (loss) carried forward +€82,175
up €82,175 (+97.9%), from €83,942 to €166,117
- Trade debts +€22,222
up €22,222 (+76023.1%), from €29 to €22,251
- Gross operating margin +€14,622
up €14,622 (+9.6%), from €151,590 to €166,213
- Taxes +€4,132
up €4,132 (+17.5%), from €23,575 to €27,707
- Other operating charges -€2,325
down €2,325 (-10.4%), from €22,437 to €20,112
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,599,333 | €1,582,627 | -€16,706 | -1.0% |
| Fixed assets | 21/28 | €1,305,515 | €1,300,391 | -€5,125 | -0.4% |
| Tangible fixed assets | 22/27 | €1,305,515 | €1,300,391 | -€5,125 | -0.4% |
| Plant, machinery and equipment | 23 | €476 | €331 | -€145 | -30.5% |
| Other tangible fixed assets | 26 | €1,305,040 | €1,300,060 | -€4,980 | -0.4% |
| Current assets | 29/58 | €293,817 | €282,236 | -€11,581 | -3.9% |
| Amounts receivable within one year | 40/41 | €8,022 | €2,245 | -€5,777 | -72.0% |
| Trade receivables | 40 | €6,552 | €820 | -€5,732 | -87.5% |
| Other amounts receivable | 41 | €1,470 | €1,425 | -€45 | -3.1% |
| Cash at bank and in hand | 54/58 | €281,929 | €275,992 | -€5,937 | -2.1% |
| Deferred charges and accrued income | 490/1 | €3,866 | €3,999 | +€133 | +3.4% |
| Total equity and liabilities | 10/49 | €1,599,333 | €1,582,627 | -€16,706 | -1.0% |
| Equity | 10/15 | €1,454,342 | €1,536,517 | +€82,175 | +5.7% |
| Contributions | 10/11 | €64,000 | €64,000 | = | 0.0% |
| Capital | 10 | €64,000 | €64,000 | = | 0.0% |
| Issued capital | 100 | €64,000 | €64,000 | = | 0.0% |
| Reserves | 13 | €1,306,400 | €1,306,400 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,400 | €6,400 | = | 0.0% |
| Legal reserve | 130 | €6,400 | €6,400 | = | 0.0% |
| Distributable reserves | 133 | €1,300,000 | €1,300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €83,942 | €166,117 | +€82,175 | +97.9% |
| Amounts payable | 17/49 | €144,991 | €46,110 | -€98,881 | -68.2% |
| Amounts payable within one year | 42/48 | €143,951 | €45,070 | -€98,881 | -68.7% |
| Trade debts | 44 | €29 | €22,251 | +€22,222 | +76023.1% |
| Suppliers | 440/4 | €29 | €22,251 | +€22,222 | +76023.1% |
| Taxes, remuneration and social security | 45 | - | €7,707 | +€7,707 | |
| Taxes | 450/3 | - | €7,707 | +€7,707 | |
| Other amounts payable | 47/48 | €143,922 | €15,112 | -€128,810 | -89.5% |
| Accrued charges and deferred income | 492/3 | €1,040 | €1,040 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,571 | €36,188 | +€617 | +1.7% |
| Other operating charges | 640/8 | €22,437 | €20,112 | -€2,325 | -10.4% |
| Gross operating margin | 9900 | €151,590 | €166,213 | +€14,622 | +9.6% |
| Operating profit (loss) | 9901 | €93,582 | €109,912 | +€16,330 | +17.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | - | €30 | +€30 | |
| Recurring financial charges | 65 | - | €30 | +€30 | |
| Profit (loss) for the period before taxes | 9903 | €93,583 | €109,882 | +€16,300 | +17.4% |
| Income taxes | 67/77 | €23,575 | €27,707 | +€4,132 | +17.5% |
| Profit (loss) for the period | 9904 | €70,008 | €82,175 | +€12,168 | +17.4% |
| Profit (loss) for the period to be appropriated | 9905 | €70,008 | €82,175 | +€12,168 | +17.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.