VERKALEX: 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.
VERKALEX
Largest movements
- Cash -€12,581
down €12,581 (-29.7%), from €42,318 to €29,737
mainly Contributions, distributions and other (-€40,000) and Other debts (-€18,413)
- Intangible fixed assets -€7,264
down €7,264 (-40.0%), from €18,161 to €10,897
- Other debts -€18,413
down €18,413 (-58.8%), from €31,299 to €12,886
- Tax, wage and social debts -€1,133
down €1,133 (-11.6%), from €9,806 to €8,673
- Gross operating margin -€12,160
down €12,160 (-16.2%), from €74,949 to €62,789
- Taxes -€3,403
down €3,403 (-19.1%), from €17,798 to €14,395
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 | €62,379 | €42,343 | -€20,036 | -32.1% |
| Fixed assets | 21/28 | €19,543 | €11,679 | -€7,864 | -40.2% |
| Intangible fixed assets | 21 | €18,161 | €10,897 | -€7,264 | -40.0% |
| Tangible fixed assets | 22/27 | €1,382 | €782 | -€600 | -43.4% |
| Other tangible fixed assets | 26 | €1,382 | €782 | -€600 | -43.4% |
| Current assets | 29/58 | €42,836 | €30,664 | -€12,172 | -28.4% |
| Amounts receivable within one year | 40/41 | €518 | €927 | +€409 | +78.9% |
| Trade receivables | 40 | €518 | €927 | +€409 | +78.9% |
| Cash at bank and in hand | 54/58 | €42,318 | €29,737 | -€12,581 | -29.7% |
| Total equity and liabilities | 10/49 | €62,379 | €42,343 | -€20,036 | -32.1% |
| Equity | 10/15 | €19,044 | €18,678 | -€366 | -1.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €444 | €78 | -€366 | -82.5% |
| Distributable reserves | 133 | €444 | €78 | -€366 | -82.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €43,336 | €23,665 | -€19,671 | -45.4% |
| Amounts payable within one year | 42/48 | €43,336 | €23,665 | -€19,671 | -45.4% |
| Trade debts | 44 | €2,230 | €2,106 | -€125 | -5.6% |
| Suppliers | 440/4 | €2,230 | €2,106 | -€125 | -5.6% |
| Taxes, remuneration and social security | 45 | €9,806 | €8,673 | -€1,133 | -11.6% |
| Taxes | 450/3 | €9,806 | €8,673 | -€1,133 | -11.6% |
| Other amounts payable | 47/48 | €31,299 | €12,886 | -€18,413 | -58.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,864 | €7,864 | = | 0.0% |
| Other operating charges | 640/8 | €712 | €733 | +€21 | +3.0% |
| Gross operating margin | 9900 | €74,949 | €62,789 | -€12,160 | -16.2% |
| Operating profit (loss) | 9901 | €66,373 | €54,192 | -€12,182 | -18.4% |
| Financial income | 75/76B | €181 | €0 | -€181 | -100% |
| Recurring financial income | 75 | €181 | €0 | -€181 | -100% |
| Financial charges | 65/66B | €136 | €162 | +€27 | +19.7% |
| Recurring financial charges | 65 | €136 | €162 | +€27 | +19.7% |
| Profit (loss) for the period before taxes | 9903 | €66,419 | €54,029 | -€12,390 | -18.7% |
| Income taxes | 67/77 | €17,798 | €14,395 | -€3,403 | -19.1% |
| Profit (loss) for the period | 9904 | €48,621 | €39,634 | -€8,987 | -18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €48,621 | €39,634 | -€8,987 | -18.5% |
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 13 October 2026 via checked.be.