VERFINCO: 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.
VERFINCO
Largest movements
- Cash +€443,995
up €443,995 (+2,677%), from €16,583 to €460,577
mainly Net result for the year (+€983,671) and Other debts (+€593,877)
- Receivables within one year +€235,490
up €235,490 (+72.8%), from €323,678 to €559,168
- Tangible fixed assets -€54,656
down €54,656 (-9.2%), from €591,034 to €536,378
of which Leasing and similar rights: -€27,599
- Other debts +€593,877
up €593,877 (+232%), from €256,123 to €850,000
- Reserves +€133,671
up €133,671 (+13.1%), from €1.0m to €1.2m
of which Distributable reserves: +€133,671
- Debts after one year -€72,506
down €72,506 (-26.8%), from €270,166 to €197,660
- Financial income +€805,499
up €805,499 (+895%), from €90,000 to €895,499
of which Financial income: +€807,850
- Gross operating margin -€15,412
down €15,412 (-4.9%), from €314,488 to €299,076
- Taxes -€10,547
down €10,547 (-18.2%), from €57,867 to €47,319
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 | €3,148,389 | €3,760,648 | +€612,259 | +19.4% |
| Fixed assets | 21/28 | €2,793,068 | €2,726,062 | -€67,007 | -2.4% |
| Tangible fixed assets | 22/27 | €591,034 | €536,378 | -€54,656 | -9.2% |
| Land and buildings | 22 | €472,621 | €452,623 | -€19,998 | -4.2% |
| Plant, machinery and equipment | 23 | €40,026 | €38,131 | -€1,895 | -4.7% |
| Furniture and vehicles | 24 | €7,159 | €1,995 | -€5,164 | -72.1% |
| Leasing and similar rights | 25 | €71,228 | €43,629 | -€27,599 | -38.7% |
| Financial fixed assets | 28 | €2,202,034 | €2,189,683 | -€12,351 | -0.6% |
| Current assets | 29/58 | €355,321 | €1,034,586 | +€679,265 | +191% |
| Amounts receivable within one year | 40/41 | €323,678 | €559,168 | +€235,490 | +72.8% |
| Trade receivables | 40 | €323,678 | €559,168 | +€235,490 | +72.8% |
| Cash at bank and in hand | 54/58 | €16,583 | €460,577 | +€443,995 | +2,677% |
| Deferred charges and accrued income | 490/1 | €15,060 | €14,840 | -€220 | -1.5% |
| Total equity and liabilities | 10/49 | €3,148,389 | €3,760,648 | +€612,259 | +19.4% |
| Equity | 10/15 | €1,080,446 | €1,214,117 | +€133,671 | +12.4% |
| 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 | €1,018,446 | €1,152,117 | +€133,671 | +13.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,012,246 | €1,145,917 | +€133,671 | +13.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €1,376,277 | €1,357,111 | -€19,166 | -1.4% |
| Provisions for liabilities and charges | 160/5 | €1,376,277 | €1,357,111 | -€19,166 | -1.4% |
| Other liabilities and charges | 164/5 | €1,376,277 | €1,357,111 | -€19,166 | -1.4% |
| Amounts payable | 17/49 | €691,666 | €1,189,419 | +€497,754 | +72.0% |
| Amounts payable after more than one year | 17 | €270,166 | €197,660 | -€72,506 | -26.8% |
| Financial debts | 170/4 | €270,166 | €197,660 | -€72,506 | -26.8% |
| Amounts payable within one year | 42/48 | €421,415 | €991,618 | +€570,203 | +135% |
| Current portion of amounts payable after more than one year | 42 | €92,369 | €112,567 | +€20,199 | +21.9% |
| Trade debts | 44 | €24,412 | €2,573 | -€21,839 | -89.5% |
| Suppliers | 440/4 | €24,412 | €2,573 | -€21,839 | -89.5% |
| Taxes, remuneration and social security | 45 | €48,511 | €26,478 | -€22,033 | -45.4% |
| Taxes | 450/3 | €16,286 | €26,478 | +€10,193 | +62.6% |
| Remuneration and social security | 454/9 | €32,226 | €0 | -€32,226 | -100% |
| Other amounts payable | 47/48 | €256,123 | €850,000 | +€593,877 | +232% |
| Accrued charges and deferred income | 492/3 | €85 | €141 | +€56 | +66.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,148 | €59,227 | +€1,078 | +1.9% |
| Other operating charges | 640/8 | €12,870 | €13,084 | +€214 | +1.7% |
| Gross operating margin | 9900 | €314,488 | €299,076 | -€15,412 | -4.9% |
| Operating profit (loss) | 9901 | €243,470 | €226,765 | -€16,705 | -6.9% |
| Financial income | 75/76B | €90,000 | €895,499 | +€805,499 | +895% |
| Recurring financial income | 75 | €0 | €807,850 | +€807,850 | |
| Non-recurring financial income | 76B | €90,000 | €87,649 | -€2,351 | -2.6% |
| Financial charges | 65/66B | €94,013 | €91,274 | -€2,739 | -2.9% |
| Recurring financial charges | 65 | €94,013 | €91,274 | -€2,739 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €239,457 | €1,030,990 | +€791,533 | +331% |
| Income taxes | 67/77 | €57,867 | €47,319 | -€10,547 | -18.2% |
| Profit (loss) for the period | 9904 | €181,590 | €983,671 | +€802,081 | +442% |
| Profit (loss) for the period to be appropriated | 9905 | €181,590 | €983,671 | +€802,081 | +442% |
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 18 October 2026 via checked.be.