VERES: 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.
VERES
Largest movements
- Tangible fixed assets +€41,883
up €41,883 (+273%), from €15,346 to €57,229
of which Furniture and vehicles: +€42,516
- Cash +€16,196
up €16,196 (+35.2%), from €45,993 to €62,189
mainly Net result for the year (+€21,295) and Debts after one year (+€21,034)
- Receivables within one year -€12,614
down €12,614 (-78.8%), from €16,012 to €3,398
of which Other amounts receivable: -€8,186
- Reserves +€21,295
up €21,295 (+33.6%), from €63,452 to €84,747
- Debts after one year +€21,034
new in 2025: €21,034
- Current portion of long-term debt +€8,198
new in 2025: €8,198
- Trade debts -€3,214
down €3,214 (-51.7%), from €6,217 to €3,004
- Other debts -€1,281
down €1,281 (-64.1%), from €1,997 to €716
- Gross operating margin +€22,574
up €22,574 (+137%), from €16,465 to €39,039
- Depreciation +€5,536
up €5,536 (+226%), from €2,455 to €7,991
- Taxes +€4,634
up €4,634 (+130%), from €3,571 to €8,205
- Financial charges +€843
up €843 (+1,164%), from €72 to €916
- Other operating charges +€606
up €606 (+135%), from €449 to €1,055
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 | €78,462 | €124,645 | +€46,183 | +58.9% |
| Fixed assets | 21/28 | €15,346 | €57,229 | +€41,883 | +273% |
| Tangible fixed assets | 22/27 | €15,346 | €57,229 | +€41,883 | +273% |
| Plant, machinery and equipment | 23 | €1,555 | €922 | -€634 | -40.7% |
| Furniture and vehicles | 24 | €13,791 | €56,307 | +€42,516 | +308% |
| Current assets | 29/58 | €63,116 | €67,416 | +€4,300 | +6.8% |
| Amounts receivable within one year | 40/41 | €16,012 | €3,398 | -€12,614 | -78.8% |
| Trade receivables | 40 | €4,583 | €155 | -€4,429 | -96.6% |
| Other amounts receivable | 41 | €11,429 | €3,243 | -€8,186 | -71.6% |
| Cash at bank and in hand | 54/58 | €45,993 | €62,189 | +€16,196 | +35.2% |
| Deferred charges and accrued income | 490/1 | €1,111 | €1,829 | +€718 | +64.6% |
| Total equity and liabilities | 10/49 | €78,462 | €124,645 | +€46,183 | +58.9% |
| Equity | 10/15 | €68,452 | €89,747 | +€21,295 | +31.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | €5,000 | €5,000 | = | 0.0% |
| Share premium | 1100/10 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €63,452 | €84,747 | +€21,295 | +33.6% |
| Distributable reserves | 133 | €63,452 | €84,747 | +€21,295 | +33.6% |
| Amounts payable | 17/49 | €10,010 | €34,898 | +€24,887 | +249% |
| Amounts payable after more than one year | 17 | - | €21,034 | +€21,034 | |
| Financial debts | 170/4 | - | €21,034 | +€21,034 | |
| Amounts payable within one year | 42/48 | €10,010 | €13,863 | +€3,853 | +38.5% |
| Current portion of amounts payable after more than one year | 42 | - | €8,198 | +€8,198 | |
| Trade debts | 44 | €6,217 | €3,004 | -€3,214 | -51.7% |
| Suppliers | 440/4 | €6,217 | €3,004 | -€3,214 | -51.7% |
| Advances received on contracts in progress | 46 | €948 | - | -€948 | |
| Taxes, remuneration and social security | 45 | €848 | €1,946 | +€1,099 | +130% |
| Taxes | 450/3 | €848 | €1,946 | +€1,099 | +130% |
| Other amounts payable | 47/48 | €1,997 | €716 | -€1,281 | -64.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,455 | €7,991 | +€5,536 | +226% |
| Other operating charges | 640/8 | €449 | €1,055 | +€606 | +135% |
| Gross operating margin | 9900 | €16,465 | €39,039 | +€22,574 | +137% |
| Operating profit (loss) | 9901 | €13,561 | €29,993 | +€16,432 | +121% |
| Financial income | 75/76B | €108 | €422 | +€314 | +290% |
| Recurring financial income | 75 | €108 | €422 | +€314 | +290% |
| Financial charges | 65/66B | €72 | €916 | +€843 | +1,164% |
| Recurring financial charges | 65 | €72 | €916 | +€843 | +1,164% |
| Profit (loss) for the period before taxes | 9903 | €13,597 | €29,500 | +€15,903 | +117% |
| Income taxes | 67/77 | €3,571 | €8,205 | +€4,634 | +130% |
| Profit (loss) for the period | 9904 | €10,025 | €21,295 | +€11,270 | +112% |
| Profit (loss) for the period to be appropriated | 9905 | €10,025 | €21,295 | +€11,270 | +112% |
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.