VERLER: 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.
VERLER
Largest movements
- Cash -€479,226
down €479,226 (-36.4%), from €1.3m to €836,871
mainly Other debts (-€398,797) and Investment in fixed assets (net) (-€297,696)
- Tangible fixed assets +€246,816
up €246,816 (+51.0%), from €483,900 to €730,717
of which Land and buildings: +€221,444
- Receivables within one year -€210,807
down €210,807 (-66.6%), from €316,333 to €105,526
of which Other amounts receivable: -€248,340
- Other debts -€398,797
down €398,797 (-99.7%), from €400,000 to €1,203
- Trade debts -€35,197
down €35,197 (-78.7%), from €44,736 to €9,539
- Tax, wage and social debts +€30,913
up €30,913 (+97.4%), from €31,748 to €62,661
- Reserves -€28,152
down €28,152 (-9.4%), from €298,179 to €270,028
of which Distributable reserves: -€27,500
- Gross operating margin -€914,969
down €914,969 (-87.9%), from €1.0m to €125,761
- Taxes -€298,959
down €298,959 (-99.7%), from €299,731 to €772
- Other operating charges +€47,834
up €47,834 (+114.0%), from €41,950 to €89,784
- Depreciation +€11,059
up €11,059 (+27.8%), from €39,821 to €50,880
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 | €2,131,389 | €1,684,847 | -€446,543 | -21.0% |
| Fixed assets | 21/28 | €483,900 | €730,717 | +€246,816 | +51.0% |
| Tangible fixed assets | 22/27 | €483,900 | €730,717 | +€246,816 | +51.0% |
| Land and buildings | 22 | €245,106 | €466,550 | +€221,444 | +90.3% |
| Plant, machinery and equipment | 23 | €4,457 | €2,500 | -€1,957 | -43.9% |
| Furniture and vehicles | 24 | €19,620 | €10,509 | -€9,111 | -46.4% |
| Other tangible fixed assets | 26 | €214,718 | €251,158 | +€36,440 | +17.0% |
| Current assets | 29/58 | €1,647,489 | €954,130 | -€693,359 | -42.1% |
| Amounts receivable within one year | 40/41 | €316,333 | €105,526 | -€210,807 | -66.6% |
| Trade receivables | 40 | €59,183 | €96,716 | +€37,533 | +63.4% |
| Other amounts receivable | 41 | €257,151 | €8,811 | -€248,340 | -96.6% |
| Cash at bank and in hand | 54/58 | €1,316,097 | €836,871 | -€479,226 | -36.4% |
| Deferred charges and accrued income | 490/1 | €15,059 | €11,733 | -€3,326 | -22.1% |
| Total equity and liabilities | 10/49 | €2,131,389 | €1,684,847 | -€446,543 | -21.0% |
| Equity | 10/15 | €968,179 | €939,911 | -€28,268 | -2.9% |
| Contributions | 10/11 | €670,000 | €670,000 | = | 0.0% |
| Reserves | 13 | €298,179 | €270,028 | -€28,152 | -9.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €922 | €270 | -€652 | -70.7% |
| Distributable reserves | 133 | €297,258 | €269,758 | -€27,500 | -9.3% |
| Profit (loss) carried forward | 14 | €0 | -€116 | -€116 | |
| Provisions and deferred taxes | 16 | €307 | €90 | -€217 | -70.7% |
| Deferred taxes | 168 | €307 | €90 | -€217 | -70.7% |
| Amounts payable | 17/49 | €1,162,903 | €744,845 | -€418,057 | -35.9% |
| Amounts payable after more than one year | 17 | €670,600 | €655,600 | -€15,000 | -2.2% |
| Financial debts | 170/4 | €26,250 | €11,250 | -€15,000 | -57.1% |
| Other amounts payable | 178/9 | €644,350 | €644,350 | = | 0.0% |
| Amounts payable within one year | 42/48 | €491,484 | €88,403 | -€403,081 | -82.0% |
| Current portion of amounts payable after more than one year | 42 | €15,000 | €15,000 | = | 0.0% |
| Trade debts | 44 | €44,736 | €9,539 | -€35,197 | -78.7% |
| Suppliers | 440/4 | €44,736 | €9,539 | -€35,197 | -78.7% |
| Taxes, remuneration and social security | 45 | €31,748 | €62,661 | +€30,913 | +97.4% |
| Taxes | 450/3 | €31,748 | €62,661 | +€30,913 | +97.4% |
| Other amounts payable | 47/48 | €400,000 | €1,203 | -€398,797 | -99.7% |
| Accrued charges and deferred income | 492/3 | €819 | €843 | +€24 | +2.9% |
| Non-recurring operating income | 76A | €913,887 | €1,975 | -€911,912 | -99.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,821 | €50,880 | +€11,059 | +27.8% |
| Other operating charges | 640/8 | €41,950 | €89,784 | +€47,834 | +114.0% |
| Non-recurring operating charges | 66A | €3,771 | €0 | -€3,771 | -100.0% |
| Gross operating margin | 9900 | €1,040,730 | €125,761 | -€914,969 | -87.9% |
| Operating profit (loss) | 9901 | €955,189 | -€14,902 | -€970,091 | |
| Financial income | 75/76B | €22,497 | €24,374 | +€1,876 | +8.3% |
| Recurring financial income | 75 | €22,497 | €24,374 | +€1,876 | +8.3% |
| Financial charges | 65/66B | €37,404 | €37,185 | -€220 | -0.6% |
| Recurring financial charges | 65 | €37,404 | €37,185 | -€220 | -0.6% |
| Profit (loss) for the period before taxes | 9903 | €940,282 | -€27,713 | -€967,996 | |
| Transfer from deferred taxes | 780 | €217 | €217 | = | 0.0% |
| Income taxes | 67/77 | €299,731 | €772 | -€298,959 | -99.7% |
| Profit (loss) for the period | 9904 | €640,768 | -€28,268 | -€669,036 | |
| Transfer from tax-exempt reserves | 789 | €652 | €652 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €641,420 | -€27,616 | -€669,036 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.