VERLAINE EAGLE BUILD: 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.
VERLAINE EAGLE BUILD
Largest movements
- Stocks and contracts -€679,859
down €679,859 (-82.8%), from €820,920 to €141,061
- Cash +€233,193
up €233,193 (+757%), from €30,821 to €264,014
mainly Stocks and contracts (+€679,859) and Trade debts (+€161,027)
- Receivables within one year +€26,501
up €26,501 (+32.0%), from €82,699 to €109,200
of which Trade receivables: +€24,986
- Short-term financial debts -€459,550
no longer reported in 2025 (was €459,550)
- Trade debts +€161,027
up €161,027 (+2,247%), from €7,168 to €168,194
- Other debts -€96,000
down €96,000 (-57.5%), from €166,931 to €70,931
- Profit (loss) carried forward -€69,036
down €69,036 (-73.2%), from -€94,351 to -€163,388
- Tax, wage and social debts +€41,722
up €41,722 (+33.9%), from €123,071 to €164,793
- Gross operating margin -€43,822
down €43,822 (-689%), from -€6,364 to -€50,186
- Financial charges -€38,158
down €38,158 (-72.0%), from €53,009 to €14,851
- Other operating charges +€2,963
up €2,963 (+667%), from €444 to €3,407
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 | €937,368 | €515,531 | -€421,837 | -45.0% |
| Fixed assets | 21/28 | €1,849 | €1,256 | -€593 | -32.1% |
| Intangible fixed assets | 21 | €1,349 | €756 | -€593 | -43.9% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €935,519 | €514,275 | -€421,244 | -45.0% |
| Stocks and contracts in progress | 3 | €820,920 | €141,061 | -€679,859 | -82.8% |
| Stocks | 30/36 | €820,920 | €141,061 | -€679,859 | -82.8% |
| Amounts receivable within one year | 40/41 | €82,699 | €109,200 | +€26,501 | +32.0% |
| Trade receivables | 40 | €3,199 | €28,185 | +€24,986 | +781% |
| Other amounts receivable | 41 | €79,500 | €81,015 | +€1,515 | +1.9% |
| Cash at bank and in hand | 54/58 | €30,821 | €264,014 | +€233,193 | +757% |
| Deferred charges and accrued income | 490/1 | €1,079 | - | -€1,079 | |
| Total equity and liabilities | 10/49 | €937,368 | €515,531 | -€421,837 | -45.0% |
| Equity | 10/15 | €180,649 | €111,612 | -€69,036 | -38.2% |
| Contributions | 10/11 | €275,000 | €275,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€94,351 | -€163,388 | -€69,036 | -73.2% |
| Amounts payable | 17/49 | €756,719 | €403,919 | -€352,801 | -46.6% |
| Amounts payable within one year | 42/48 | €756,719 | €403,919 | -€352,801 | -46.6% |
| Financial debts | 43 | €459,550 | - | -€459,550 | |
| Other loans | 439 | €459,550 | - | -€459,550 | |
| Trade debts | 44 | €7,168 | €168,194 | +€161,027 | +2,247% |
| Suppliers | 440/4 | €7,168 | €168,194 | +€161,027 | +2,247% |
| Taxes, remuneration and social security | 45 | €123,071 | €164,793 | +€41,722 | +33.9% |
| Taxes | 450/3 | €123,071 | €164,793 | +€41,722 | +33.9% |
| Other amounts payable | 47/48 | €166,931 | €70,931 | -€96,000 | -57.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €593 | €593 | = | 0.0% |
| Other operating charges | 640/8 | €444 | €3,407 | +€2,963 | +667% |
| Gross operating margin | 9900 | -€6,364 | -€50,186 | -€43,822 | -689% |
| Operating profit (loss) | 9901 | -€7,401 | -€54,186 | -€46,785 | -632% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €53,009 | €14,851 | -€38,158 | -72.0% |
| Recurring financial charges | 65 | €53,009 | €14,851 | -€38,158 | -72.0% |
| Profit (loss) for the period before taxes | 9903 | -€60,410 | -€69,036 | -€8,626 | -14.3% |
| Profit (loss) for the period | 9904 | -€60,410 | -€69,036 | -€8,626 | -14.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€60,410 | -€69,036 | -€8,626 | -14.3% |
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 31 October 2026 via checked.be.