VERIBEL: 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.
VERIBEL
Largest movements
- Cash +€60,600
up €60,600 (+16.6%), from €364,532 to €425,132
mainly Net result for the year (+€230,358) and Other debts (+€116,803)
- Receivables within one year +€55,635
up €55,635 (+63.7%), from €87,396 to €143,032
of which Trade receivables: +€57,549
- Tangible fixed assets -€8,600
down €8,600 (-25.9%), from €33,178 to €24,578
- Other debts +€116,803
up €116,803 (+184.8%), from €63,202 to €180,005
- Reserves +€50,358
up €50,358 (+17.1%), from €294,490 to €344,848
of which Distributable reserves: +€50,358
- Trade debts -€49,064
down €49,064 (-92.3%), from €53,161 to €4,097
- Tax, wage and social debts -€7,378
down €7,378 (-41.5%), from €17,787 to €10,410
- Gross operating margin +€105,199
up €105,199 (+67.9%), from €154,942 to €260,141
- Taxes -€21,243
down €21,243 (-54.7%), from €38,813 to €17,570
- Financial income -€6,011
down €6,011 (-99.5%), from €6,038 to €28
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 | €490,613 | €601,333 | +€110,719 | +22.6% |
| Fixed assets | 21/28 | €33,178 | €24,578 | -€8,600 | -25.9% |
| Tangible fixed assets | 22/27 | €33,178 | €24,578 | -€8,600 | -25.9% |
| Furniture and vehicles | 24 | €33,178 | €24,578 | -€8,600 | -25.9% |
| Current assets | 29/58 | €457,435 | €576,755 | +€119,319 | +26.1% |
| Stocks and contracts in progress | 3 | €2,044 | €4,952 | +€2,908 | +142.3% |
| Stocks | 30/36 | €2,044 | €4,952 | +€2,908 | +142.3% |
| Amounts receivable within one year | 40/41 | €87,396 | €143,032 | +€55,635 | +63.7% |
| Trade receivables | 40 | €83,044 | €140,593 | +€57,549 | +69.3% |
| Other amounts receivable | 41 | €4,352 | €2,439 | -€1,914 | -44.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €364,532 | €425,132 | +€60,600 | +16.6% |
| Deferred charges and accrued income | 490/1 | €3,463 | €3,640 | +€176 | +5.1% |
| Total equity and liabilities | 10/49 | €490,613 | €601,333 | +€110,719 | +22.6% |
| Equity | 10/15 | €356,463 | €406,821 | +€50,358 | +14.1% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €294,490 | €344,848 | +€50,358 | +17.1% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €288,292 | €338,650 | +€50,358 | +17.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €134,151 | €194,512 | +€60,361 | +45.0% |
| Amounts payable within one year | 42/48 | €134,151 | €194,512 | +€60,361 | +45.0% |
| Trade debts | 44 | €53,161 | €4,097 | -€49,064 | -92.3% |
| Suppliers | 440/4 | €53,161 | €4,097 | -€49,064 | -92.3% |
| Taxes, remuneration and social security | 45 | €17,787 | €10,410 | -€7,378 | -41.5% |
| Taxes | 450/3 | €17,787 | €10,410 | -€7,378 | -41.5% |
| Other amounts payable | 47/48 | €63,202 | €180,005 | +€116,803 | +184.8% |
| Non-recurring operating income | 76A | €3,000 | €0 | -€3,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,600 | €8,600 | = | 0.0% |
| Other operating charges | 640/8 | €3,327 | €3,426 | +€99 | +3.0% |
| Gross operating margin | 9900 | €154,942 | €260,141 | +€105,199 | +67.9% |
| Operating profit (loss) | 9901 | €143,015 | €248,116 | +€105,101 | +73.5% |
| Financial income | 75/76B | €6,038 | €28 | -€6,011 | -99.5% |
| Recurring financial income | 75 | €6,038 | €28 | -€6,011 | -99.5% |
| Financial charges | 65/66B | €24 | €216 | +€192 | +798.2% |
| Recurring financial charges | 65 | €24 | €216 | +€192 | +798.2% |
| Profit (loss) for the period before taxes | 9903 | €149,029 | €247,928 | +€98,898 | +66.4% |
| Income taxes | 67/77 | €38,813 | €17,570 | -€21,243 | -54.7% |
| Profit (loss) for the period | 9904 | €110,216 | €230,358 | +€120,142 | +109.0% |
| Profit (loss) for the period to be appropriated | 9905 | €110,216 | €230,358 | +€120,142 | +109.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.