VERFAILLE: 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.
VERFAILLE
Largest movements
- Receivables within one year -€97,056
down €97,056 (-13.2%), from €733,715 to €636,659
of which Trade receivables: -€144,897
- Tangible fixed assets +€80,585
up €80,585 (+33.1%), from €243,318 to €323,903
of which Furniture and vehicles: +€73,627
- Cash +€41,852
up €41,852 (+42.5%), from €98,549 to €140,401
mainly Net result for the year (+€210,402) and Receivables within one year (+€97,056)
- Receivables after one year -€36,450
down €36,450 (-44.0%), from €82,901 to €46,451
- Stocks and contracts +€32,873
up €32,873 (+95.6%), from €34,399 to €67,272
- Profit (loss) carried forward +€160,402
up €160,402 (+46.1%), from €348,062 to €508,464
- Current portion of long-term debt -€108,789
down €108,789 (-61.4%), from €177,251 to €68,462
- Tax, wage and social debts -€46,283
down €46,283 (-28.8%), from €160,600 to €114,317
of which Remuneration and social security: -€23,439
- Other debts +€38,779
up €38,779 (+47.7%), from €81,249 to €120,028
- Debts after one year -€34,477
down €34,477 (-34.4%), from €100,299 to €65,822
of which Other amounts payable: -€33,341
- Staff costs +€188,597
up €188,597 (+18.9%), from €999,276 to €1.2m
- Gross operating margin +€186,717
up €186,717 (+13.0%), from €1.4m to €1.6m
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 | €1,239,622 | €1,266,935 | +€27,313 | +2.2% |
| Fixed assets | 21/28 | €277,123 | €357,708 | +€80,585 | +29.1% |
| Tangible fixed assets | 22/27 | €243,318 | €323,903 | +€80,585 | +33.1% |
| Plant, machinery and equipment | 23 | €148,392 | €132,688 | -€15,703 | -10.6% |
| Furniture and vehicles | 24 | €11,601 | €85,228 | +€73,627 | +634.7% |
| Leasing and similar rights | 25 | €394 | €17,894 | +€17,501 | +4445.1% |
| Other tangible fixed assets | 26 | €82,932 | €88,092 | +€5,161 | +6.2% |
| Financial fixed assets | 28 | €33,805 | €33,805 | = | 0.0% |
| Current assets | 29/58 | €962,499 | €909,227 | -€53,272 | -5.5% |
| Amounts receivable after more than one year | 29 | €82,901 | €46,451 | -€36,450 | -44.0% |
| Other amounts receivable | 291 | €82,901 | €46,451 | -€36,450 | -44.0% |
| Stocks and contracts in progress | 3 | €34,399 | €67,272 | +€32,873 | +95.6% |
| Stocks | 30/36 | €34,399 | €67,272 | +€32,873 | +95.6% |
| Amounts receivable within one year | 40/41 | €733,715 | €636,659 | -€97,056 | -13.2% |
| Trade receivables | 40 | €733,436 | €588,539 | -€144,897 | -19.8% |
| Other amounts receivable | 41 | €279 | €48,120 | +€47,841 | +17128.8% |
| Cash at bank and in hand | 54/58 | €98,549 | €140,401 | +€41,852 | +42.5% |
| Deferred charges and accrued income | 490/1 | €12,936 | €18,445 | +€5,509 | +42.6% |
| Total equity and liabilities | 10/49 | €1,239,622 | €1,266,935 | +€27,313 | +2.2% |
| Equity | 10/15 | €472,512 | €632,914 | +€160,402 | +33.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €62,450 | €62,450 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €348,062 | €508,464 | +€160,402 | +46.1% |
| Amounts payable | 17/49 | €767,109 | €634,021 | -€133,088 | -17.3% |
| Amounts payable after more than one year | 17 | €100,299 | €65,822 | -€34,477 | -34.4% |
| Financial debts | 170/4 | €66,957 | €65,822 | -€1,135 | -1.7% |
| Other amounts payable | 178/9 | €33,341 | €0 | -€33,341 | -100.0% |
| Amounts payable within one year | 42/48 | €662,264 | €568,174 | -€94,090 | -14.2% |
| Current portion of amounts payable after more than one year | 42 | €177,251 | €68,462 | -€108,789 | -61.4% |
| Trade debts | 44 | €243,163 | €265,367 | +€22,204 | +9.1% |
| Suppliers | 440/4 | €243,163 | €265,367 | +€22,204 | +9.1% |
| Taxes, remuneration and social security | 45 | €160,600 | €114,317 | -€46,283 | -28.8% |
| Taxes | 450/3 | €52,150 | €29,306 | -€22,845 | -43.8% |
| Remuneration and social security | 454/9 | €108,450 | €85,011 | -€23,439 | -21.6% |
| Other amounts payable | 47/48 | €81,249 | €120,028 | +€38,779 | +47.7% |
| Accrued charges and deferred income | 492/3 | €4,547 | €25 | -€4,522 | -99.5% |
| Non-recurring operating income | 76A | €30,991 | €53,831 | +€22,840 | +73.7% |
| Remuneration, social security and pensions | 62 | €999,276 | €1,187,873 | +€188,597 | +18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,139 | €66,592 | -€6,547 | -9.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,302 | €0 | +€3,302 | |
| Other operating charges | 640/8 | €15,958 | €11,832 | -€4,126 | -25.9% |
| Non-recurring operating charges | 66A | €27,154 | €49,601 | +€22,447 | +82.7% |
| Gross operating margin | 9900 | €1,432,193 | €1,618,911 | +€186,717 | +13.0% |
| Operating profit (loss) | 9901 | €319,968 | €303,012 | -€16,956 | -5.3% |
| Financial income | 75/76B | €1,815 | €1,621 | -€193 | -10.6% |
| Recurring financial income | 75 | €1,815 | €1,621 | -€193 | -10.6% |
| Financial charges | 65/66B | €14,941 | €14,866 | -€75 | -0.5% |
| Recurring financial charges | 65 | €14,941 | €14,866 | -€75 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €306,841 | €289,767 | -€17,074 | -5.6% |
| Income taxes | 67/77 | €82,688 | €79,366 | -€3,323 | -4.0% |
| Profit (loss) for the period | 9904 | €224,153 | €210,402 | -€13,751 | -6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €224,153 | €210,402 | -€13,751 | -6.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.