VERLEX: 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.
VERLEX
Largest movements
- Cash +€15,562
up €15,562 (+43.7%), from €35,595 to €51,156
mainly Net result for the year (+€45,849) and Depreciation (+€7,258)
- Tangible fixed assets -€2,107
down €2,107 (-11.1%), from €18,964 to €16,857
of which Furniture and vehicles: -€6,029
- Reserves +€25,261
up €25,261 (+44.0%), from €57,411 to €82,671
- Current portion of long-term debt -€15,233
no longer reported in 2025 (was €15,233)
- Tax, wage and social debts +€5,831
up €5,831 (+131.9%), from €4,421 to €10,253
- Trade debts -€1,246
down €1,246 (-48.3%), from €2,579 to €1,333
- Gross operating margin +€24,805
up €24,805 (+53.2%), from €46,645 to €71,451
- Taxes +€6,758
up €6,758 (+75.9%), from €8,905 to €15,662
- Other operating charges +€1,387
up €1,387 (+120.0%), from €1,156 to €2,543
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 | €82,144 | €96,757 | +€14,613 | +17.8% |
| Fixed assets | 21/28 | €18,964 | €16,857 | -€2,107 | -11.1% |
| Tangible fixed assets | 22/27 | €18,964 | €16,857 | -€2,107 | -11.1% |
| Furniture and vehicles | 24 | €18,964 | €12,935 | -€6,029 | -31.8% |
| Other tangible fixed assets | 26 | - | €3,922 | +€3,922 | |
| Current assets | 29/58 | €63,180 | €79,900 | +€16,720 | +26.5% |
| Amounts receivable within one year | 40/41 | €25,001 | €25,734 | +€733 | +2.9% |
| Trade receivables | 40 | €10,000 | €14,520 | +€4,520 | +45.2% |
| Other amounts receivable | 41 | €15,001 | €11,214 | -€3,787 | -25.2% |
| Cash at bank and in hand | 54/58 | €35,595 | €51,156 | +€15,562 | +43.7% |
| Deferred charges and accrued income | 490/1 | €2,584 | €3,010 | +€425 | +16.5% |
| Total equity and liabilities | 10/49 | €82,144 | €96,757 | +€14,613 | +17.8% |
| Equity | 10/15 | €59,911 | €85,171 | +€25,261 | +42.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €57,411 | €82,671 | +€25,261 | +44.0% |
| Distributable reserves | 133 | €57,411 | €82,671 | +€25,261 | +44.0% |
| Amounts payable | 17/49 | €22,233 | €11,585 | -€10,648 | -47.9% |
| Amounts payable within one year | 42/48 | €22,233 | €11,585 | -€10,648 | -47.9% |
| Current portion of amounts payable after more than one year | 42 | €15,233 | - | -€15,233 | |
| Trade debts | 44 | €2,579 | €1,333 | -€1,246 | -48.3% |
| Suppliers | 440/4 | €2,579 | €1,333 | -€1,246 | -48.3% |
| Taxes, remuneration and social security | 45 | €4,421 | €10,253 | +€5,831 | +131.9% |
| Taxes | 450/3 | €4,421 | €10,253 | +€5,831 | +131.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,708 | €7,258 | +€550 | +8.2% |
| Other operating charges | 640/8 | €1,156 | €2,543 | +€1,387 | +120.0% |
| Gross operating margin | 9900 | €46,645 | €71,451 | +€24,805 | +53.2% |
| Operating profit (loss) | 9901 | €38,781 | €61,650 | +€22,869 | +59.0% |
| Financial income | 75/76B | €644 | €714 | +€70 | +10.9% |
| Recurring financial income | 75 | €644 | €714 | +€70 | +10.9% |
| Financial charges | 65/66B | €635 | €853 | +€218 | +34.3% |
| Recurring financial charges | 65 | €635 | €853 | +€218 | +34.3% |
| Profit (loss) for the period before taxes | 9903 | €38,790 | €61,511 | +€22,722 | +58.6% |
| Income taxes | 67/77 | €8,905 | €15,662 | +€6,758 | +75.9% |
| Profit (loss) for the period | 9904 | €29,885 | €45,849 | +€15,964 | +53.4% |
| Profit (loss) for the period to be appropriated | 9905 | €29,885 | €45,849 | +€15,964 | +53.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.