VERETRO: 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.
VERETRO
Largest movements
- Receivables within one year +€389,900
up €389,900 (+339%), from €114,928 to €504,827
of which Other amounts receivable: +€237,588
- Cash -€218,730
down €218,730 (-34.2%), from €640,008 to €421,278
mainly Receivables within one year (-€389,900) and Tax, wage and social debts (-€101,976)
- Tangible fixed assets +€28,552
up €28,552 (+4.9%), from €579,065 to €607,616
of which Furniture and vehicles: +€41,626
- Reserves +€302,716
up €302,716 (+61.8%), from €489,992 to €792,708
- Tax, wage and social debts -€101,976
down €101,976 (-88.0%), from €115,939 to €13,963
- Gross operating margin +€127,657
up €127,657 (+38.5%), from €331,796 to €459,453
- Taxes +€32,623
up €32,623 (+31.8%), from €102,479 to €135,102
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 | €2,009,718 | €2,209,439 | +€199,721 | +9.9% |
| Fixed assets | 21/28 | €1,254,065 | €1,282,616 | +€28,552 | +2.3% |
| Tangible fixed assets | 22/27 | €579,065 | €607,616 | +€28,552 | +4.9% |
| Land and buildings | 22 | €579,065 | €565,991 | -€13,074 | -2.3% |
| Furniture and vehicles | 24 | €0 | €41,626 | +€41,626 | |
| Financial fixed assets | 28 | €675,000 | €675,000 | = | 0.0% |
| Current assets | 29/58 | €755,653 | €926,823 | +€171,170 | +22.7% |
| Amounts receivable within one year | 40/41 | €114,928 | €504,827 | +€389,900 | +339% |
| Trade receivables | 40 | €111,546 | €263,857 | +€152,311 | +137% |
| Other amounts receivable | 41 | €3,382 | €240,970 | +€237,588 | +7,025% |
| Cash at bank and in hand | 54/58 | €640,008 | €421,278 | -€218,730 | -34.2% |
| Deferred charges and accrued income | 490/1 | €718 | €718 | = | 0.0% |
| Total equity and liabilities | 10/49 | €2,009,718 | €2,209,439 | +€199,721 | +9.9% |
| Equity | 10/15 | €496,192 | €798,908 | +€302,716 | +61.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €489,992 | €792,708 | +€302,716 | +61.8% |
| Distributable reserves | 133 | €489,992 | €792,708 | +€302,716 | +61.8% |
| Amounts payable | 17/49 | €1,513,525 | €1,410,531 | -€102,995 | -6.8% |
| Amounts payable after more than one year | 17 | €1,180,214 | €1,188,180 | +€7,966 | +0.7% |
| Financial debts | 170/4 | €1,180,214 | €1,188,180 | +€7,966 | +0.7% |
| Amounts payable within one year | 42/48 | €333,311 | €222,350 | -€110,961 | -33.3% |
| Current portion of amounts payable after more than one year | 42 | €19,482 | €29,155 | +€9,674 | +49.7% |
| Trade debts | 44 | €7,014 | €3,992 | -€3,022 | -43.1% |
| Suppliers | 440/4 | €7,014 | €3,992 | -€3,022 | -43.1% |
| Advances received on contracts in progress | 46 | - | €250 | +€250 | |
| Taxes, remuneration and social security | 45 | €115,939 | €13,963 | -€101,976 | -88.0% |
| Taxes | 450/3 | €115,939 | €13,963 | -€101,976 | -88.0% |
| Other amounts payable | 47/48 | €190,877 | €174,990 | -€15,887 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,067 | €15,815 | +€1,747 | +12.4% |
| Other operating charges | 640/8 | €1,748 | €4,001 | +€2,253 | +129% |
| Gross operating margin | 9900 | €331,796 | €459,453 | +€127,657 | +38.5% |
| Operating profit (loss) | 9901 | €315,981 | €439,638 | +€123,657 | +39.1% |
| Financial income | 75/76B | €2,585 | €986 | -€1,600 | -61.9% |
| Recurring financial income | 75 | €2,585 | €986 | -€1,600 | -61.9% |
| Financial charges | 65/66B | €4,700 | €2,805 | -€1,895 | -40.3% |
| Recurring financial charges | 65 | €4,700 | €2,805 | -€1,895 | -40.3% |
| Profit (loss) for the period before taxes | 9903 | €313,866 | €437,818 | +€123,953 | +39.5% |
| Income taxes | 67/77 | €102,479 | €135,102 | +€32,623 | +31.8% |
| Profit (loss) for the period | 9904 | €211,386 | €302,716 | +€91,330 | +43.2% |
| Profit (loss) for the period to be appropriated | 9905 | €211,386 | €302,716 | +€91,330 | +43.2% |
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 26 October 2026 via checked.be.