VERF & CO: 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.
VERF & CO
Largest movements
- Stocks and contracts +€81,139
up €81,139 (+73.8%), from €110,000 to €191,139
- Cash +€42,776
up €42,776 (+1270.3%), from €3,367 to €46,144
mainly Net result for the year (+€109,640) and Other debts (+€67,160)
- Receivables within one year +€4,555
up €4,555 (+14.6%), from €31,142 to €35,698
of which Trade receivables: +€4,544
- Profit (loss) carried forward +€79,026
up €79,026, from -€79,026 to €0
- Other debts +€67,160
up €67,160 (+720.9%), from €9,316 to €76,476
- Trade debts -€49,034
down €49,034 (-46.4%), from €105,577 to €56,543
- Reserves +€30,613
new in 2026: €30,613
- Tax, wage and social debts +€3,081
up €3,081 (+13.8%), from €22,309 to €25,390
of which Remuneration and social security: +€5,358
- Gross operating margin +€104,852
up €104,852 (+157.0%), from €66,765 to €171,617
- Staff costs +€12,324
up €12,324 (+28.6%), from €43,069 to €55,393
- Financial income +€5,461
up €5,461 (+1105.0%), from €494 to €5,955
- Depreciation -€1,775
down €1,775 (-38.7%), from €4,590 to €2,815
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 | €147,351 | €273,326 | +€125,975 | +85.5% |
| Fixed assets | 21/28 | €2,841 | €26 | -€2,815 | -99.1% |
| Intangible fixed assets | 21 | €2,250 | €0 | -€2,250 | -100.0% |
| Tangible fixed assets | 22/27 | €591 | €26 | -€565 | -95.6% |
| Plant, machinery and equipment | 23 | €94 | €0 | -€94 | -100.0% |
| Furniture and vehicles | 24 | €497 | €26 | -€471 | -94.8% |
| Current assets | 29/58 | €144,510 | €273,300 | +€128,791 | +89.1% |
| Stocks and contracts in progress | 3 | €110,000 | €191,139 | +€81,139 | +73.8% |
| Stocks | 30/36 | €110,000 | €191,139 | +€81,139 | +73.8% |
| Amounts receivable within one year | 40/41 | €31,142 | €35,698 | +€4,555 | +14.6% |
| Trade receivables | 40 | €31,142 | €35,687 | +€4,544 | +14.6% |
| Other amounts receivable | 41 | - | €11 | +€11 | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €3,367 | €46,144 | +€42,776 | +1270.3% |
| Deferred charges and accrued income | 490/1 | €0 | €320 | +€320 | |
| Total equity and liabilities | 10/49 | €147,351 | €273,326 | +€125,975 | +85.5% |
| Equity | 10/15 | -€49,026 | €60,613 | +€109,640 | |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | - | €30,613 | +€30,613 | |
| Distributable reserves | 133 | - | €30,613 | +€30,613 | |
| Profit (loss) carried forward | 14 | -€79,026 | €0 | +€79,026 | |
| Amounts payable | 17/49 | €196,377 | €212,713 | +€16,335 | +8.3% |
| Amounts payable after more than one year | 17 | €52,867 | €50,000 | -€2,867 | -5.4% |
| Financial debts | 170/4 | €52,867 | €50,000 | -€2,867 | -5.4% |
| Amounts payable within one year | 42/48 | €142,073 | €161,275 | +€19,202 | +13.5% |
| Current portion of amounts payable after more than one year | 42 | €4,871 | €2,867 | -€2,005 | -41.1% |
| Trade debts | 44 | €105,577 | €56,543 | -€49,034 | -46.4% |
| Suppliers | 440/4 | €105,577 | €56,543 | -€49,034 | -46.4% |
| Taxes, remuneration and social security | 45 | €22,309 | €25,390 | +€3,081 | +13.8% |
| Taxes | 450/3 | €19,992 | €17,714 | -€2,278 | -11.4% |
| Remuneration and social security | 454/9 | €2,317 | €7,675 | +€5,358 | +231.3% |
| Other amounts payable | 47/48 | €9,316 | €76,476 | +€67,160 | +720.9% |
| Accrued charges and deferred income | 492/3 | €1,438 | €1,438 | = | 0.0% |
| Non-recurring operating income | 76A | €4,532 | €3,720 | -€812 | -17.9% |
| Remuneration, social security and pensions | 62 | €43,069 | €55,393 | +€12,324 | +28.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,590 | €2,815 | -€1,775 | -38.7% |
| Other operating charges | 640/8 | €681 | €1,299 | +€617 | +90.6% |
| Gross operating margin | 9900 | €66,765 | €171,617 | +€104,852 | +157.0% |
| Operating profit (loss) | 9901 | €18,424 | €112,111 | +€93,686 | +508.5% |
| Financial income | 75/76B | €494 | €5,955 | +€5,461 | +1105.0% |
| Recurring financial income | 75 | €494 | €5,955 | +€5,461 | +1105.0% |
| Financial charges | 65/66B | €5,538 | €6,964 | +€1,426 | +25.7% |
| Recurring financial charges | 65 | €5,538 | €6,964 | +€1,426 | +25.7% |
| Profit (loss) for the period before taxes | 9903 | €13,380 | €111,102 | +€97,721 | +730.3% |
| Income taxes | 67/77 | -€14 | €1,462 | +€1,475 | |
| Profit (loss) for the period | 9904 | €13,394 | €109,640 | +€96,246 | +718.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,394 | €109,640 | +€96,246 | +718.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.