VERLACON: 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.
VERLACON
Largest movements
- Tangible fixed assets -€30,276
down €30,276 (-2.8%), from €1.1m to €1.0m
of which Land and buildings: -€30,000
- Cash -€27,174
down €27,174 (-52.8%), from €51,455 to €24,281
mainly Debts after one year (-€114,570) and Current investments (-€11,074)
- Receivables within one year -€25,478
down €25,478 (-48.0%), from €53,086 to €27,608
of which Other amounts receivable: -€15,015
- Debts after one year -€114,570
down €114,570 (-12.1%), from €950,229 to €835,658
- Reserves +€43,633
up €43,633 (+20.0%), from €218,372 to €262,006
- Gross operating margin -€30,785
down €30,785 (-18.1%), from €170,342 to €139,557
- Financial charges +€17,565
up €17,565 (+55.0%), from €31,929 to €49,495
- Taxes -€12,497
down €12,497 (-40.5%), from €30,871 to €18,373
- Financial income +€3,237
up €3,237 (+2091.5%), from €155 to €3,391
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 | €1,209,620 | €1,138,006 | -€71,614 | -5.9% |
| Fixed assets | 21/28 | €1,062,550 | €1,032,274 | -€30,276 | -2.8% |
| Tangible fixed assets | 22/27 | €1,062,550 | €1,032,274 | -€30,276 | -2.8% |
| Land and buildings | 22 | €1,062,274 | €1,032,274 | -€30,000 | -2.8% |
| Plant, machinery and equipment | 23 | €276 | €0 | -€276 | -100.0% |
| Current assets | 29/58 | €147,070 | €105,732 | -€41,338 | -28.1% |
| Amounts receivable within one year | 40/41 | €53,086 | €27,608 | -€25,478 | -48.0% |
| Trade receivables | 40 | €25,374 | €14,910 | -€10,463 | -41.2% |
| Other amounts receivable | 41 | €27,712 | €12,697 | -€15,015 | -54.2% |
| Current investments | 50/53 | €38,275 | €49,349 | +€11,074 | +28.9% |
| Cash at bank and in hand | 54/58 | €51,455 | €24,281 | -€27,174 | -52.8% |
| Deferred charges and accrued income | 490/1 | €4,255 | €4,494 | +€240 | +5.6% |
| Total equity and liabilities | 10/49 | €1,209,620 | €1,138,006 | -€71,614 | -5.9% |
| Equity | 10/15 | €224,572 | €268,206 | +€43,633 | +19.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €218,372 | €262,006 | +€43,633 | +20.0% |
| Distributable reserves | 133 | €218,372 | €262,006 | +€43,633 | +20.0% |
| Amounts payable | 17/49 | €985,048 | €869,801 | -€115,247 | -11.7% |
| Amounts payable after more than one year | 17 | €950,229 | €835,658 | -€114,570 | -12.1% |
| Financial debts | 170/4 | €950,229 | €835,658 | -€114,570 | -12.1% |
| Amounts payable within one year | 42/48 | €34,819 | €34,142 | -€677 | -1.9% |
| Current portion of amounts payable after more than one year | 42 | €26,326 | €27,384 | +€1,057 | +4.0% |
| Trade debts | 44 | €2,196 | €2,370 | +€174 | +7.9% |
| Suppliers | 440/4 | €2,196 | €2,370 | +€174 | +7.9% |
| Taxes, remuneration and social security | 45 | €6,297 | €4,389 | -€1,908 | -30.3% |
| Taxes | 450/3 | €6,297 | €4,389 | -€1,908 | -30.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,471 | €30,276 | -€196 | -0.6% |
| Other operating charges | 640/8 | €786 | €1,171 | +€385 | +49.1% |
| Gross operating margin | 9900 | €170,342 | €139,557 | -€30,785 | -18.1% |
| Operating profit (loss) | 9901 | €139,085 | €108,110 | -€30,975 | -22.3% |
| Financial income | 75/76B | €155 | €3,391 | +€3,237 | +2091.5% |
| Recurring financial income | 75 | €155 | €3,391 | +€3,237 | +2091.5% |
| Financial charges | 65/66B | €31,929 | €49,495 | +€17,565 | +55.0% |
| Recurring financial charges | 65 | €31,929 | €49,495 | +€17,565 | +55.0% |
| Profit (loss) for the period before taxes | 9903 | €107,310 | €62,007 | -€45,304 | -42.2% |
| Income taxes | 67/77 | €30,871 | €18,373 | -€12,497 | -40.5% |
| Profit (loss) for the period | 9904 | €76,439 | €43,633 | -€32,806 | -42.9% |
| Profit (loss) for the period to be appropriated | 9905 | €76,439 | €43,633 | -€32,806 | -42.9% |
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 12 October 2026 via checked.be.