VERESTATE: 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.
VERESTATE
Largest movements
- Current investments +€500,000
new in 2025: €500,000
- Receivables within one year -€347,044
down €347,044 (-8.7%), from €4.0m to €3.6m
of which Other amounts receivable: -€424,642
- Tangible fixed assets -€94,543
down €94,543 (-4.8%), from €2.0m to €1.9m
of which Land and buildings: -€62,080
- Reserves +€256,431
up €256,431 (+3.3%), from €7.9m to €8.1m
of which Distributable reserves: +€256,431
- Other debts -€255,863
down €255,863 (-54.6%), from €468,844 to €212,981
- Gross operating margin +€610,527
up €610,527, from -€367,775 to €242,752
- Financial income -€16,223
down €16,223 (-9.2%), from €177,022 to €160,799
- Staff costs -€13,523
down €13,523 (-89.7%), from €15,073 to €1,550
- Financial charges -€9,303
down €9,303 (-27.0%), from €34,453 to €25,150
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.
Cash bridge derived
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 | €9,050,781 | €9,093,296 | +€42,515 | +0.5% |
| Fixed assets | 21/28 | €1,982,477 | €1,887,933 | -€94,543 | -4.8% |
| Tangible fixed assets | 22/27 | €1,982,477 | €1,887,933 | -€94,543 | -4.8% |
| Land and buildings | 22 | €1,827,818 | €1,765,738 | -€62,080 | -3.4% |
| Plant, machinery and equipment | 23 | €113 | €0 | -€113 | -100.0% |
| Furniture and vehicles | 24 | €118,150 | €83,323 | -€34,827 | -29.5% |
| Other tangible fixed assets | 26 | €36,396 | €38,873 | +€2,476 | +6.8% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €7,068,304 | €7,205,363 | +€137,059 | +1.9% |
| Stocks and contracts in progress | 3 | €2,010,332 | €2,012,295 | +€1,963 | +0.1% |
| Stocks | 30/36 | €2,010,332 | €2,012,295 | +€1,963 | +0.1% |
| Amounts receivable within one year | 40/41 | €3,968,593 | €3,621,549 | -€347,044 | -8.7% |
| Trade receivables | 40 | €181,089 | €258,687 | +€77,598 | +42.9% |
| Other amounts receivable | 41 | €3,787,504 | €3,362,863 | -€424,642 | -11.2% |
| Current investments | 50/53 | - | €500,000 | +€500,000 | |
| Cash at bank and in hand | 54/58 | €966,320 | €968,501 | +€2,181 | +0.2% |
| Deferred charges and accrued income | 490/1 | €123,059 | €103,018 | -€20,041 | -16.3% |
| Total equity and liabilities | 10/49 | €9,050,781 | €9,093,296 | +€42,515 | +0.5% |
| Equity | 10/15 | €7,985,004 | €8,241,436 | +€256,431 | +3.2% |
| Contributions | 10/11 | €81,638 | €81,638 | = | 0.0% |
| Capital | 10 | €81,638 | €81,638 | = | 0.0% |
| Issued capital | 100 | €81,638 | €81,638 | = | 0.0% |
| Revaluation surpluses | 12 | €44,597 | €44,597 | = | 0.0% |
| Reserves | 13 | €7,858,770 | €8,115,201 | +€256,431 | +3.3% |
| Non-distributable reserves | 130/1 | €12,397 | €12,397 | = | 0.0% |
| Legal reserve | 130 | €12,397 | €12,397 | = | 0.0% |
| Distributable reserves | 133 | €7,846,372 | €8,102,804 | +€256,431 | +3.3% |
| Amounts payable | 17/49 | €1,065,777 | €851,861 | -€213,916 | -20.1% |
| Amounts payable after more than one year | 17 | €550,000 | €550,000 | = | 0.0% |
| Financial debts | 170/4 | €550,000 | €550,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €515,777 | €301,861 | -€213,916 | -41.5% |
| Trade debts | 44 | €46,234 | €88,153 | +€41,919 | +90.7% |
| Suppliers | 440/4 | €46,234 | €88,153 | +€41,919 | +90.7% |
| Taxes, remuneration and social security | 45 | €698 | €727 | +€28 | +4.0% |
| Taxes | 450/3 | €698 | €727 | +€28 | +4.0% |
| Other amounts payable | 47/48 | €468,844 | €212,981 | -€255,863 | -54.6% |
| Remuneration, social security and pensions | 62 | €15,073 | €1,550 | -€13,523 | -89.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €111,137 | €113,985 | +€2,848 | +2.6% |
| Other operating charges | 640/8 | €4,190 | €5,808 | +€1,618 | +38.6% |
| Gross operating margin | 9900 | -€367,775 | €242,752 | +€610,527 | |
| Operating profit (loss) | 9901 | -€498,174 | €121,409 | +€619,584 | |
| Financial income | 75/76B | €177,022 | €160,799 | -€16,223 | -9.2% |
| Recurring financial income | 75 | €177,022 | €160,799 | -€16,223 | -9.2% |
| Financial charges | 65/66B | €34,453 | €25,150 | -€9,303 | -27.0% |
| Recurring financial charges | 65 | €34,453 | €25,150 | -€9,303 | -27.0% |
| Profit (loss) for the period before taxes | 9903 | -€355,605 | €257,058 | +€612,663 | |
| Income taxes | 67/77 | €3,946 | €627 | -€3,319 | -84.1% |
| Profit (loss) for the period | 9904 | -€359,551 | €256,431 | +€615,983 | |
| Profit (loss) for the period to be appropriated | 9905 | -€359,551 | €256,431 | +€615,983 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.