VERKU: 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.
VERKU
Largest movements
- Receivables within one year -€234,681
no longer reported in 2025 (was €234,681)
of which Other amounts receivable: -€230,681
- Tangible fixed assets -€18,670
down €18,670 (-4.4%), from €421,321 to €402,651
of which Land and buildings: -€16,755
- Other debts -€220,553
down €220,553 (-42.0%), from €524,977 to €304,424
- Debts after one year -€39,946
down €39,946 (-14.5%), from €276,072 to €236,126
- Gross operating margin +€12,548
up €12,548 (+36.2%), from €34,688 to €47,236
- Taxes +€2,912
up €2,912 (+3064.9%), from €95 to €3,007
- Financial charges -€1,916
down €1,916 (-12.7%), from €15,053 to €13,137
- Other operating charges -€586
down €586 (-17.2%), from €3,414 to €2,827
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 | €1,100,643 | €848,069 | -€252,575 | -22.9% |
| Fixed assets | 21/28 | €865,321 | €846,651 | -€18,670 | -2.2% |
| Tangible fixed assets | 22/27 | €421,321 | €402,651 | -€18,670 | -4.4% |
| Land and buildings | 22 | €410,072 | €393,317 | -€16,755 | -4.1% |
| Plant, machinery and equipment | 23 | €11,250 | €9,335 | -€1,915 | -17.0% |
| Financial fixed assets | 28 | €444,000 | €444,000 | = | 0.0% |
| Current assets | 29/58 | €235,322 | €1,417 | -€233,904 | -99.4% |
| Amounts receivable within one year | 40/41 | €234,681 | - | -€234,681 | |
| Trade receivables | 40 | €4,000 | - | -€4,000 | |
| Other amounts receivable | 41 | €230,681 | - | -€230,681 | |
| Cash at bank and in hand | 54/58 | €481 | €1,247 | +€767 | +159.4% |
| Deferred charges and accrued income | 490/1 | €160 | €170 | +€10 | +6.1% |
| Total equity and liabilities | 10/49 | €1,100,643 | €848,069 | -€252,575 | -22.9% |
| Equity | 10/15 | €272,235 | €281,829 | +€9,594 | +3.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €124,069 | €124,069 | = | 0.0% |
| Tax-exempt reserves | 132 | €22,750 | €22,750 | = | 0.0% |
| Distributable reserves | 133 | €101,319 | €101,319 | = | 0.0% |
| Profit (loss) carried forward | 14 | €128,166 | €137,760 | +€9,594 | +7.5% |
| Amounts payable | 17/49 | €828,409 | €566,240 | -€262,169 | -31.6% |
| Amounts payable after more than one year | 17 | €276,072 | €236,126 | -€39,946 | -14.5% |
| Financial debts | 170/4 | €276,072 | €236,126 | -€39,946 | -14.5% |
| Amounts payable within one year | 42/48 | €552,337 | €330,114 | -€222,223 | -40.2% |
| Current portion of amounts payable after more than one year | 42 | €19,219 | €17,108 | -€2,111 | -11.0% |
| Trade debts | 44 | €3,422 | €3,109 | -€314 | -9.2% |
| Suppliers | 440/4 | €3,422 | €3,109 | -€314 | -9.2% |
| Taxes, remuneration and social security | 45 | €4,718 | €5,473 | +€755 | +16.0% |
| Taxes | 450/3 | €4,718 | €5,473 | +€755 | +16.0% |
| Other amounts payable | 47/48 | €524,977 | €304,424 | -€220,553 | -42.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,670 | €18,670 | = | 0.0% |
| Other operating charges | 640/8 | €3,414 | €2,827 | -€586 | -17.2% |
| Gross operating margin | 9900 | €34,688 | €47,236 | +€12,548 | +36.2% |
| Operating profit (loss) | 9901 | €12,604 | €25,738 | +€13,134 | +104.2% |
| Financial charges | 65/66B | €15,053 | €13,137 | -€1,916 | -12.7% |
| Recurring financial charges | 65 | €15,053 | €13,137 | -€1,916 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,450 | €12,601 | +€15,051 | |
| Income taxes | 67/77 | €95 | €3,007 | +€2,912 | +3064.9% |
| Profit (loss) for the period | 9904 | -€2,545 | €9,594 | +€12,139 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,545 | €9,594 | +€12,139 |
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 9 October 2026 via checked.be.