VERIDE: 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.
VERIDE
Largest movements
- Cash +€1.6m
up €1.6m (+430.1%), from €362,372 to €1.9m
mainly Trade debts (+€2.0m) and Net result for the year (+€1.1m)
- Receivables within one year +€961,439
up €961,439 (+60.7%), from €1.6m to €2.5m
of which Trade receivables: +€762,757
- Stocks and contracts +€721,046
up €721,046 (+47.5%), from €1.5m to €2.2m
of which Contracts in progress: +€559,104
- Trade debts +€2.0m
up €2.0m (+271.8%), from €729,527 to €2.7m
- Reserves +€1.1m
up €1.1m (+58.1%), from €1.8m to €2.9m
- Advances received +€157,648
up €157,648 (+15.0%), from €1.1m to €1.2m
- Tax, wage and social debts +€105,360
up €105,360 (+105.7%), from €99,655 to €205,015
of which Taxes: +€78,423
- Gross operating margin +€1.1m
up €1.1m (+62.8%), from €1.8m to €2.9m
- Staff costs +€368,719
up €368,719 (+38.8%), from €949,910 to €1.3m
- Taxes +€192,545
up €192,545 (+109.3%), from €176,202 to €368,747
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 | €3,877,661 | €7,134,695 | +€3.3m | +84.0% |
| Fixed assets | 21/28 | €392,637 | €425,792 | +€33,154 | +8.4% |
| Tangible fixed assets | 22/27 | €332,044 | €358,065 | +€26,022 | +7.8% |
| Plant, machinery and equipment | 23 | €30,134 | €91,225 | +€61,092 | +202.7% |
| Furniture and vehicles | 24 | €298,942 | €263,872 | -€35,070 | -11.7% |
| Other tangible fixed assets | 26 | €2,968 | €2,968 | = | 0.0% |
| Financial fixed assets | 28 | €60,594 | €67,726 | +€7,133 | +11.8% |
| Current assets | 29/58 | €3,485,023 | €6,708,903 | +€3.2m | +92.5% |
| Stocks and contracts in progress | 3 | €1,517,540 | €2,238,586 | +€721,046 | +47.5% |
| Stocks | 30/36 | €199,207 | €361,149 | +€161,943 | +81.3% |
| Contracts in progress | 37 | €1,318,333 | €1,877,436 | +€559,104 | +42.4% |
| Amounts receivable within one year | 40/41 | €1,583,789 | €2,545,228 | +€961,439 | +60.7% |
| Trade receivables | 40 | €900,400 | €1,663,157 | +€762,757 | +84.7% |
| Other amounts receivable | 41 | €683,389 | €882,071 | +€198,682 | +29.1% |
| Cash at bank and in hand | 54/58 | €362,372 | €1,920,945 | +€1.6m | +430.1% |
| Deferred charges and accrued income | 490/1 | €21,322 | €4,144 | -€17,178 | -80.6% |
| Total equity and liabilities | 10/49 | €3,877,661 | €7,134,695 | +€3.3m | +84.0% |
| Equity | 10/15 | €1,839,911 | €2,898,780 | +€1.1m | +57.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,821,311 | €2,880,180 | +€1.1m | +58.1% |
| Distributable reserves | 133 | €1,821,311 | €2,880,180 | +€1.1m | +58.1% |
| Amounts payable | 17/49 | €2,037,750 | €4,235,915 | +€2.2m | +107.9% |
| Amounts payable after more than one year | 17 | €107,802 | €67,304 | -€40,497 | -37.6% |
| Financial debts | 170/4 | €107,802 | €67,304 | -€40,497 | -37.6% |
| Amounts payable within one year | 42/48 | €1,929,948 | €4,168,611 | +€2.2m | +116.0% |
| Current portion of amounts payable after more than one year | 42 | €47,635 | €40,497 | -€7,138 | -15.0% |
| Trade debts | 44 | €729,527 | €2,712,319 | +€2.0m | +271.8% |
| Suppliers | 440/4 | €729,527 | €2,712,319 | +€2.0m | +271.8% |
| Advances received on contracts in progress | 46 | €1,053,131 | €1,210,779 | +€157,648 | +15.0% |
| Taxes, remuneration and social security | 45 | €99,655 | €205,015 | +€105,360 | +105.7% |
| Taxes | 450/3 | - | €78,423 | +€78,423 | |
| Remuneration and social security | 454/9 | €99,655 | €126,592 | +€26,937 | +27.0% |
| Non-recurring operating income | 76A | €34,694 | - | -€34,694 | |
| Remuneration, social security and pensions | 62 | €949,910 | €1,318,628 | +€368,719 | +38.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €131,473 | €134,769 | +€3,295 | +2.5% |
| Other operating charges | 640/8 | €18,532 | €8,248 | -€10,284 | -55.5% |
| Gross operating margin | 9900 | €1,772,503 | €2,885,060 | +€1.1m | +62.8% |
| Operating profit (loss) | 9901 | €672,588 | €1,423,414 | +€750,827 | +111.6% |
| Financial income | 75/76B | €15,041 | €15,034 | -€7 | 0.0% |
| Recurring financial income | 75 | €15,041 | €15,034 | -€7 | 0.0% |
| Financial charges | 65/66B | €7,369 | €10,833 | +€3,464 | +47.0% |
| Recurring financial charges | 65 | €7,369 | €10,833 | +€3,464 | +47.0% |
| Profit (loss) for the period before taxes | 9903 | €680,260 | €1,427,616 | +€747,356 | +109.9% |
| Income taxes | 67/77 | €176,202 | €368,747 | +€192,545 | +109.3% |
| Profit (loss) for the period | 9904 | €504,058 | €1,058,869 | +€554,811 | +110.1% |
| Profit (loss) for the period to be appropriated | 9905 | €504,058 | €1,058,869 | +€554,811 | +110.1% |
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 6 October 2026 via checked.be.