VERITEC: 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.
VERITEC
Largest movements
- Receivables within one year -€57,035
down €57,035 (-12.0%), from €474,073 to €417,038
of which Trade receivables: -€70,090
- Stocks and contracts -€40,270
down €40,270 (-18.3%), from €219,756 to €179,486
of which Contracts in progress: -€55,270
- Tangible fixed assets +€39,240
up €39,240 (+34.5%), from €113,756 to €152,996
of which Other tangible fixed assets: +€37,275
- Cash -€12,499
down €12,499 (-9.6%), from €129,844 to €117,345
mainly Trade debts (-€113,776) and Investment in fixed assets (net) (-€83,640)
- Trade debts -€113,776
down €113,776 (-20.9%), from €543,673 to €429,897
- Debts after one year +€23,272
up €23,272 (+45.8%), from €50,803 to €74,075
- Reserves +€16,997
up €16,997 (+17.2%), from €98,599 to €115,596
- Gross operating margin +€111,860
up €111,860 (+15.6%), from €716,129 to €827,990
- Staff costs +€91,936
up €91,936 (+14.5%), from €635,419 to €727,355
- Depreciation +€20,019
up €20,019 (+80.8%), from €24,761 to €44,780
- Other operating charges +€14,123
up €14,123 (+500.2%), from €2,823 to €16,946
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 | €943,480 | €867,993 | -€75,487 | -8.0% |
| Fixed assets | 21/28 | €115,264 | €154,124 | +€38,860 | +33.7% |
| Intangible fixed assets | 21 | €1,488 | €1,108 | -€380 | -25.5% |
| Tangible fixed assets | 22/27 | €113,756 | €152,996 | +€39,240 | +34.5% |
| Plant, machinery and equipment | 23 | €14,734 | €20,655 | +€5,920 | +40.2% |
| Furniture and vehicles | 24 | €84,706 | €80,751 | -€3,955 | -4.7% |
| Other tangible fixed assets | 26 | €14,316 | €51,590 | +€37,275 | +260.4% |
| Financial fixed assets | 28 | €20 | €20 | = | 0.0% |
| Current assets | 29/58 | €828,216 | €713,869 | -€114,347 | -13.8% |
| Stocks and contracts in progress | 3 | €219,756 | €179,486 | -€40,270 | -18.3% |
| Stocks | 30/36 | €97,000 | €112,000 | +€15,000 | +15.5% |
| Contracts in progress | 37 | €122,756 | €67,486 | -€55,270 | -45.0% |
| Amounts receivable within one year | 40/41 | €474,073 | €417,038 | -€57,035 | -12.0% |
| Trade receivables | 40 | €397,974 | €327,884 | -€70,090 | -17.6% |
| Other amounts receivable | 41 | €76,099 | €89,154 | +€13,055 | +17.2% |
| Cash at bank and in hand | 54/58 | €129,844 | €117,345 | -€12,499 | -9.6% |
| Deferred charges and accrued income | 490/1 | €4,542 | €0 | -€4,542 | -100.0% |
| Total equity and liabilities | 10/49 | €943,480 | €867,993 | -€75,487 | -8.0% |
| Equity | 10/15 | €118,599 | €135,596 | +€16,997 | +14.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €98,599 | €115,596 | +€16,997 | +17.2% |
| Distributable reserves | 133 | €98,599 | €115,596 | +€16,997 | +17.2% |
| Amounts payable | 17/49 | €824,881 | €732,397 | -€92,484 | -11.2% |
| Amounts payable after more than one year | 17 | €50,803 | €74,075 | +€23,272 | +45.8% |
| Financial debts | 170/4 | €50,803 | €74,075 | +€23,272 | +45.8% |
| Amounts payable within one year | 42/48 | €774,078 | €658,322 | -€115,755 | -15.0% |
| Current portion of amounts payable after more than one year | 42 | €32,575 | €31,515 | -€1,060 | -3.3% |
| Financial debts | 43 | €125,451 | €125,000 | -€451 | -0.4% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Other loans | 439 | €451 | €0 | -€451 | -100.0% |
| Trade debts | 44 | €543,673 | €429,897 | -€113,776 | -20.9% |
| Suppliers | 440/4 | €543,673 | €429,897 | -€113,776 | -20.9% |
| Taxes, remuneration and social security | 45 | €72,378 | €68,509 | -€3,869 | -5.3% |
| Taxes | 450/3 | €6,053 | €867 | -€5,186 | -85.7% |
| Remuneration and social security | 454/9 | €66,325 | €67,642 | +€1,317 | +2.0% |
| Other amounts payable | 47/48 | - | €3,402 | +€3,402 | |
| Remuneration, social security and pensions | 62 | €635,419 | €727,355 | +€91,936 | +14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,761 | €44,780 | +€20,019 | +80.8% |
| Other operating charges | 640/8 | €2,823 | €16,946 | +€14,123 | +500.2% |
| Gross operating margin | 9900 | €716,129 | €827,990 | +€111,860 | +15.6% |
| Operating profit (loss) | 9901 | €53,126 | €38,908 | -€14,218 | -26.8% |
| Financial income | 75/76B | €831 | €984 | +€153 | +18.5% |
| Recurring financial income | 75 | €831 | €984 | +€153 | +18.5% |
| Financial charges | 65/66B | €8,186 | €13,914 | +€5,728 | +70.0% |
| Recurring financial charges | 65 | €8,186 | €13,914 | +€5,728 | +70.0% |
| Profit (loss) for the period before taxes | 9903 | €45,770 | €25,978 | -€19,792 | -43.2% |
| Income taxes | 67/77 | €15,867 | €8,981 | -€6,886 | -43.4% |
| Profit (loss) for the period | 9904 | €29,903 | €16,997 | -€12,906 | -43.2% |
| Profit (loss) for the period to be appropriated | 9905 | €29,903 | €16,997 | -€12,906 | -43.2% |
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 10 October 2026 via checked.be.