VERJAN: 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.
VERJAN
Largest movements
- Tangible fixed assets -€85,641
down €85,641 (-13.2%), from €647,446 to €561,805
of which Land and buildings: -€78,499
- Cash +€17,556
up €17,556 (+16.8%), from €104,404 to €121,960
mainly Depreciation (+€102,923) and Net result for the year (+€49,271)
- Debts after one year -€58,096
down €58,096 (-28.1%), from €207,097 to €149,001
- Reserves +€49,271
up €49,271 (+39.1%), from €126,127 to €175,397
- Other debts -€40,873
down €40,873 (-14.0%), from €291,757 to €250,884
- Trade debts -€13,855
down €13,855 (-75.0%), from €18,468 to €4,613
- Gross operating margin -€8,243
down €8,243 (-4.2%), from €196,480 to €188,237
- Taxes -€3,182
down €3,182 (-11.9%), from €26,852 to €23,670
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 | €756,274 | €688,929 | -€67,345 | -8.9% |
| Fixed assets | 21/28 | €647,446 | €561,805 | -€85,641 | -13.2% |
| Tangible fixed assets | 22/27 | €647,446 | €561,805 | -€85,641 | -13.2% |
| Land and buildings | 22 | €532,430 | €453,931 | -€78,499 | -14.7% |
| Furniture and vehicles | 24 | €1,513 | €1,302 | -€210 | -13.9% |
| Other tangible fixed assets | 26 | €113,503 | €106,572 | -€6,931 | -6.1% |
| Current assets | 29/58 | €108,828 | €127,124 | +€18,296 | +16.8% |
| Amounts receivable within one year | 40/41 | €290 | €2,281 | +€1,991 | +685.5% |
| Trade receivables | 40 | €290 | €951 | +€661 | +227.5% |
| Other amounts receivable | 41 | - | €1,330 | +€1,330 | |
| Cash at bank and in hand | 54/58 | €104,404 | €121,960 | +€17,556 | +16.8% |
| Deferred charges and accrued income | 490/1 | €4,134 | €2,883 | -€1,251 | -30.3% |
| Total equity and liabilities | 10/49 | €756,274 | €688,929 | -€67,345 | -8.9% |
| Equity | 10/15 | €167,127 | €216,397 | +€49,271 | +29.5% |
| Contributions | 10/11 | €41,000 | €41,000 | = | 0.0% |
| Reserves | 13 | €126,127 | €175,397 | +€49,271 | +39.1% |
| Non-distributable reserves | 130/1 | €126,127 | €175,397 | +€49,271 | +39.1% |
| Other | 1319 | €126,127 | €175,397 | +€49,271 | +39.1% |
| Amounts payable | 17/49 | €589,147 | €472,532 | -€116,615 | -19.8% |
| Amounts payable after more than one year | 17 | €207,097 | €149,001 | -€58,096 | -28.1% |
| Financial debts | 170/4 | €207,097 | €149,001 | -€58,096 | -28.1% |
| Amounts payable within one year | 42/48 | €380,090 | €321,527 | -€58,563 | -15.4% |
| Current portion of amounts payable after more than one year | 42 | €57,255 | €58,096 | +€841 | +1.5% |
| Trade debts | 44 | €18,468 | €4,613 | -€13,855 | -75.0% |
| Suppliers | 440/4 | €18,468 | €4,613 | -€13,855 | -75.0% |
| Taxes, remuneration and social security | 45 | €12,611 | €7,934 | -€4,677 | -37.1% |
| Taxes | 450/3 | €12,611 | €7,934 | -€4,677 | -37.1% |
| Other amounts payable | 47/48 | €291,757 | €250,884 | -€40,873 | -14.0% |
| Accrued charges and deferred income | 492/3 | €1,960 | €2,004 | +€44 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,067 | €102,923 | +€1,857 | +1.8% |
| Other operating charges | 640/8 | €8,550 | €8,783 | +€233 | +2.7% |
| Gross operating margin | 9900 | €196,480 | €188,237 | -€8,243 | -4.2% |
| Operating profit (loss) | 9901 | €86,863 | €76,531 | -€10,333 | -11.9% |
| Financial charges | 65/66B | €4,419 | €3,590 | -€829 | -18.8% |
| Recurring financial charges | 65 | €4,419 | €3,590 | -€829 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | €82,445 | €72,941 | -€9,504 | -11.5% |
| Income taxes | 67/77 | €26,852 | €23,670 | -€3,182 | -11.9% |
| Profit (loss) for the period | 9904 | €55,592 | €49,271 | -€6,321 | -11.4% |
| Profit (loss) for the period to be appropriated | 9905 | €55,592 | €49,271 | -€6,321 | -11.4% |
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 7 October 2026 via checked.be.