VERKOZ: 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.
VERKOZ
Largest movements
- Receivables after one year -€45,129
down €45,129 (-65.3%), from €69,162 to €24,033
- Stocks and contracts +€16,800
new in 2025: €16,800
- Cash -€14,165
down €14,165 (-22.7%), from €62,460 to €48,295
mainly Contributions, distributions and other (-€48,904) and Debts after one year (-€27,387)
- Tangible fixed assets -€8,779
down €8,779 (-3.1%), from €280,553 to €271,774
of which Other tangible fixed assets: -€12,058
- Debts after one year -€27,387
down €27,387 (-20.6%), from €132,703 to €105,316
- Reserves -€22,886
down €22,886 (-9.6%), from €237,670 to €214,785
- Trade debts +€13,295
up €13,295 (+1,513%), from €879 to €14,173
- Current portion of long-term debt -€10,583
down €10,583 (-27.9%), from €37,970 to €27,387
- Gross operating margin -€9,597
down €9,597 (-11.3%), from €84,633 to €75,036
- Depreciation +€7,866
up €7,866 (+54.3%), from €14,490 to €22,356
- Taxes +€1,976
up €1,976 (+11.0%), from €17,946 to €19,922
- Financial charges -€1,867
down €1,867 (-23.2%), from €8,038 to €6,171
- Financial income +€1,378
up €1,378 (+69,954%), from €2 to €1,380
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 | €433,145 | €385,435 | -€47,710 | -11.0% |
| Fixed assets | 21/28 | €280,553 | €271,774 | -€8,779 | -3.1% |
| Tangible fixed assets | 22/27 | €280,553 | €271,774 | -€8,779 | -3.1% |
| Land and buildings | 22 | €39,164 | €38,450 | -€714 | -1.8% |
| Furniture and vehicles | 24 | €18,886 | €22,880 | +€3,994 | +21.1% |
| Other tangible fixed assets | 26 | €222,503 | €210,445 | -€12,058 | -5.4% |
| Current assets | 29/58 | €152,592 | €113,661 | -€38,931 | -25.5% |
| Amounts receivable after more than one year | 29 | €69,162 | €24,033 | -€45,129 | -65.3% |
| Other amounts receivable | 291 | €69,162 | €24,033 | -€45,129 | -65.3% |
| Stocks and contracts in progress | 3 | - | €16,800 | +€16,800 | |
| Contracts in progress | 37 | - | €16,800 | +€16,800 | |
| Amounts receivable within one year | 40/41 | €20,971 | €24,534 | +€3,563 | +17.0% |
| Trade receivables | 40 | €20,971 | €24,534 | +€3,563 | +17.0% |
| Cash at bank and in hand | 54/58 | €62,460 | €48,295 | -€14,165 | -22.7% |
| Total equity and liabilities | 10/49 | €433,145 | €385,435 | -€47,710 | -11.0% |
| Equity | 10/15 | €243,870 | €220,985 | -€22,886 | -9.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €237,670 | €214,785 | -€22,886 | -9.6% |
| Distributable reserves | 133 | €237,670 | €214,785 | -€22,886 | -9.6% |
| Amounts payable | 17/49 | €189,275 | €164,451 | -€24,824 | -13.1% |
| Amounts payable after more than one year | 17 | €132,703 | €105,316 | -€27,387 | -20.6% |
| Financial debts | 170/4 | €132,703 | €105,316 | -€27,387 | -20.6% |
| Amounts payable within one year | 42/48 | €56,572 | €59,134 | +€2,562 | +4.5% |
| Current portion of amounts payable after more than one year | 42 | €37,970 | €27,387 | -€10,583 | -27.9% |
| Trade debts | 44 | €879 | €14,173 | +€13,295 | +1,513% |
| Suppliers | 440/4 | €879 | €14,173 | +€13,295 | +1,513% |
| Taxes, remuneration and social security | 45 | €17,723 | €17,547 | -€176 | -1.0% |
| Taxes | 450/3 | €17,723 | €17,547 | -€176 | -1.0% |
| Other amounts payable | 47/48 | - | €28 | +€28 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,490 | €22,356 | +€7,866 | +54.3% |
| Other operating charges | 640/8 | €1,150 | €1,949 | +€799 | +69.5% |
| Gross operating margin | 9900 | €84,633 | €75,036 | -€9,597 | -11.3% |
| Operating profit (loss) | 9901 | €68,993 | €50,731 | -€18,262 | -26.5% |
| Financial income | 75/76B | €2 | €1,380 | +€1,378 | +69,954% |
| Recurring financial income | 75 | €2 | €1,380 | +€1,378 | +69,954% |
| Financial charges | 65/66B | €8,038 | €6,171 | -€1,867 | -23.2% |
| Recurring financial charges | 65 | €8,038 | €6,171 | -€1,867 | -23.2% |
| Profit (loss) for the period before taxes | 9903 | €60,957 | €45,940 | -€15,017 | -24.6% |
| Income taxes | 67/77 | €17,946 | €19,922 | +€1,976 | +11.0% |
| Profit (loss) for the period | 9904 | €43,011 | €26,019 | -€16,992 | -39.5% |
| Profit (loss) for the period to be appropriated | 9905 | €43,011 | €26,019 | -€16,992 | -39.5% |
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 14 October 2026 via checked.be.