VERLEYE BART: 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.
VERLEYE BART
Largest movements
- Tangible fixed assets +€191,273
up €191,273 (+27.0%), from €707,724 to €898,998
of which Land and buildings: +€211,628
- Cash +€60,981
up €60,981 (+95.9%), from €63,594 to €124,575
mainly Debts after one year (+€179,645) and Other debts (+€77,452)
- Receivables within one year -€44,686
down €44,686 (-94.8%), from €47,119 to €2,433
of which Other amounts receivable: -€24,548
- Debts after one year +€179,645
new in 2025: €179,645
- Other debts +€77,452
new in 2025: €77,452
- Reserves -€23,600
down €23,600 (-7.2%), from €325,985 to €302,385
of which Tax-exempt reserves: -€23,600
- Tax, wage and social debts -€23,110
down €23,110 (-64.0%), from €36,130 to €13,020
- Trade debts -€16,459
down €16,459 (-87.3%), from €18,845 to €2,386
- Gross operating margin -€32,425
down €32,425 (-38.5%), from €84,121 to €51,696
- Depreciation +€21,994
up €21,994 (+44.4%), from €49,511 to €71,504
- Taxes -€13,020
no longer reported in 2025 (was €13,020)
- Financial charges +€1,769
up €1,769 (+395.9%), from €447 to €2,216
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 | €918,562 | €1,124,325 | +€205,763 | +22.4% |
| Fixed assets | 21/28 | €794,353 | €985,626 | +€191,273 | +24.1% |
| Intangible fixed assets | 21 | €86,629 | €86,629 | = | 0.0% |
| Tangible fixed assets | 22/27 | €707,724 | €898,998 | +€191,273 | +27.0% |
| Land and buildings | 22 | €666,561 | €878,190 | +€211,628 | +31.7% |
| Plant, machinery and equipment | 23 | €35,314 | €20,475 | -€14,839 | -42.0% |
| Furniture and vehicles | 24 | €5,849 | €333 | -€5,516 | -94.3% |
| Current assets | 29/58 | €124,209 | €138,699 | +€14,490 | +11.7% |
| Stocks and contracts in progress | 3 | €13,496 | €11,691 | -€1,805 | -13.4% |
| Stocks | 30/36 | €13,496 | €11,691 | -€1,805 | -13.4% |
| Amounts receivable within one year | 40/41 | €47,119 | €2,433 | -€44,686 | -94.8% |
| Trade receivables | 40 | €21,658 | €1,519 | -€20,138 | -93.0% |
| Other amounts receivable | 41 | €25,461 | €913 | -€24,548 | -96.4% |
| Cash at bank and in hand | 54/58 | €63,594 | €124,575 | +€60,981 | +95.9% |
| Total equity and liabilities | 10/49 | €918,562 | €1,124,325 | +€205,763 | +22.4% |
| Equity | 10/15 | €737,259 | €717,190 | -€20,069 | -2.7% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €325,985 | €302,385 | -€23,600 | -7.2% |
| Non-distributable reserves | 130/1 | €12,400 | €12,400 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,400 | €12,400 | = | 0.0% |
| Tax-exempt reserves | 132 | €298,585 | €274,985 | -€23,600 | -7.9% |
| Distributable reserves | 133 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €287,274 | €290,805 | +€3,531 | +1.2% |
| Provisions and deferred taxes | 16 | €126,328 | €120,428 | -€5,900 | -4.7% |
| Deferred taxes | 168 | €126,328 | €120,428 | -€5,900 | -4.7% |
| Amounts payable | 17/49 | €54,975 | €286,707 | +€231,732 | +421.5% |
| Amounts payable after more than one year | 17 | - | €179,645 | +€179,645 | |
| Financial debts | 170/4 | - | €179,645 | +€179,645 | |
| Amounts payable within one year | 42/48 | €54,975 | €107,063 | +€52,088 | +94.7% |
| Current portion of amounts payable after more than one year | 42 | - | €14,205 | +€14,205 | |
| Trade debts | 44 | €18,845 | €2,386 | -€16,459 | -87.3% |
| Suppliers | 440/4 | €18,845 | €2,386 | -€16,459 | -87.3% |
| Taxes, remuneration and social security | 45 | €36,130 | €13,020 | -€23,110 | -64.0% |
| Taxes | 450/3 | €36,130 | €13,020 | -€23,110 | -64.0% |
| Other amounts payable | 47/48 | - | €77,452 | +€77,452 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,511 | €71,504 | +€21,994 | +44.4% |
| Other operating charges | 640/8 | €4,843 | €4,138 | -€706 | -14.6% |
| Gross operating margin | 9900 | €84,121 | €51,696 | -€32,425 | -38.5% |
| Operating profit (loss) | 9901 | €29,766 | -€23,947 | -€53,713 | |
| Financial income | 75/76B | €348 | €193 | -€154 | -44.4% |
| Recurring financial income | 75 | €348 | €193 | -€154 | -44.4% |
| Financial charges | 65/66B | €447 | €2,216 | +€1,769 | +395.9% |
| Recurring financial charges | 65 | €447 | €2,216 | +€1,769 | +395.9% |
| Profit (loss) for the period before taxes | 9903 | €29,667 | -€25,969 | -€55,636 | |
| Transfer from deferred taxes | 780 | €5,900 | €5,900 | = | 0.0% |
| Income taxes | 67/77 | €13,020 | - | -€13,020 | |
| Profit (loss) for the period | 9904 | €22,547 | -€20,069 | -€42,617 | |
| Transfer from tax-exempt reserves | 789 | €23,600 | €23,600 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €46,147 | €3,531 | -€42,617 | -92.3% |
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 8 October 2026 via checked.be.