VERLI: 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.
VERLI
Largest movements
- Receivables within one year +€94,251
up €94,251 (+63.0%), from €149,522 to €243,773
of which Trade receivables: +€92,221
- Deferred charges and accrued income +€44,625
up €44,625 (+288%), from €15,501 to €60,126
- Cash -€38,371
down €38,371 (-82.0%), from €46,820 to €8,450
mainly Receivables within one year (-€94,251) and Deferred charges and accrued income (-€44,625)
- Tangible fixed assets -€23,574
down €23,574 (-4.0%), from €592,814 to €569,240
of which Furniture and vehicles: -€15,853
- Current investments +€19,424
up €19,424 (+65.5%), from €29,645 to €49,070
- Debts after one year +€42,644
up €42,644 (+8.7%), from €487,848 to €530,493
- Short-term financial debts +€29,944
up €29,944 (+394%), from €7,609 to €37,552
- Current portion of long-term debt +€27,177
up €27,177 (+82.2%), from €33,071 to €60,248
- Tax, wage and social debts +€21,482
up €21,482 (+34.3%), from €62,608 to €84,089
of which Remuneration and social security: +€22,645
- Trade debts -€19,198
down €19,198 (-25.2%), from €76,191 to €56,993
- Staff costs +€169,591
up €169,591 (+92.8%), from €182,728 to €352,319
- Gross operating margin +€135,862
up €135,862 (+42.6%), from €319,296 to €455,158
- Financial charges +€15,757
up €15,757 (+106%), from €14,923 to €30,681
- Depreciation +€13,527
up €13,527 (+38.0%), from €35,621 to €49,148
- Taxes -€8,414
down €8,414 (-50.6%), from €16,631 to €8,216
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.
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 | €944,302 | €1,040,659 | +€96,356 | +10.2% |
| Fixed assets | 21/28 | €692,814 | €669,240 | -€23,574 | -3.4% |
| Tangible fixed assets | 22/27 | €592,814 | €569,240 | -€23,574 | -4.0% |
| Land and buildings | 22 | €503,527 | €496,566 | -€6,960 | -1.4% |
| Plant, machinery and equipment | 23 | - | €2,418 | +€2,418 | |
| Furniture and vehicles | 24 | €72,142 | €56,289 | -€15,853 | -22.0% |
| Other tangible fixed assets | 26 | €17,145 | €13,967 | -€3,178 | -18.5% |
| Financial fixed assets | 28 | €100,000 | €100,000 | = | 0.0% |
| Current assets | 29/58 | €251,489 | €371,419 | +€119,930 | +47.7% |
| Amounts receivable after more than one year | 29 | €10,000 | €10,000 | = | 0.0% |
| Other amounts receivable | 291 | €10,000 | €10,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €149,522 | €243,773 | +€94,251 | +63.0% |
| Trade receivables | 40 | €149,231 | €241,452 | +€92,221 | +61.8% |
| Other amounts receivable | 41 | €291 | €2,321 | +€2,030 | +698% |
| Current investments | 50/53 | €29,645 | €49,070 | +€19,424 | +65.5% |
| Cash at bank and in hand | 54/58 | €46,820 | €8,450 | -€38,371 | -82.0% |
| Deferred charges and accrued income | 490/1 | €15,501 | €60,126 | +€44,625 | +288% |
| Total equity and liabilities | 10/49 | €944,302 | €1,040,659 | +€96,356 | +10.2% |
| Equity | 10/15 | €184,813 | €197,278 | +€12,465 | +6.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €151,766 | €164,231 | +€12,465 | +8.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €415 | €415 | = | 0.0% |
| Distributable reserves | 133 | €149,491 | €161,956 | +€12,465 | +8.3% |
| Profit (loss) carried forward | 14 | €14,447 | €14,447 | = | 0.0% |
| Amounts payable | 17/49 | €759,489 | €843,380 | +€83,891 | +11.0% |
| Amounts payable after more than one year | 17 | €487,848 | €530,493 | +€42,644 | +8.7% |
| Financial debts | 170/4 | €487,848 | €530,493 | +€42,644 | +8.7% |
| Amounts payable within one year | 42/48 | €271,641 | €312,888 | +€41,247 | +15.2% |
| Current portion of amounts payable after more than one year | 42 | €33,071 | €60,248 | +€27,177 | +82.2% |
| Financial debts | 43 | €7,609 | €37,552 | +€29,944 | +394% |
| Credit institutions | 430/8 | €7,609 | €37,552 | +€29,944 | +394% |
| Trade debts | 44 | €76,191 | €56,993 | -€19,198 | -25.2% |
| Suppliers | 440/4 | €76,191 | €56,993 | -€19,198 | -25.2% |
| Taxes, remuneration and social security | 45 | €62,608 | €84,089 | +€21,482 | +34.3% |
| Taxes | 450/3 | €35,414 | €34,251 | -€1,163 | -3.3% |
| Remuneration and social security | 454/9 | €27,193 | €49,839 | +€22,645 | +83.3% |
| Other amounts payable | 47/48 | €92,162 | €74,006 | -€18,157 | -19.7% |
| Non-recurring operating income | 76A | €18,000 | €0 | -€18,000 | -100% |
| Remuneration, social security and pensions | 62 | €182,728 | €352,319 | +€169,591 | +92.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,621 | €49,148 | +€13,527 | +38.0% |
| Other operating charges | 640/8 | €5,779 | €3,355 | -€2,424 | -41.9% |
| Gross operating margin | 9900 | €319,296 | €455,158 | +€135,862 | +42.6% |
| Operating profit (loss) | 9901 | €95,167 | €50,336 | -€44,831 | -47.1% |
| Financial income | 75/76B | €142 | €1,026 | +€884 | +624% |
| Recurring financial income | 75 | €142 | €1,026 | +€884 | +624% |
| Financial charges | 65/66B | €14,923 | €30,681 | +€15,757 | +106% |
| Recurring financial charges | 65 | €14,923 | €30,681 | +€15,757 | +106% |
| Profit (loss) for the period before taxes | 9903 | €80,386 | €20,681 | -€59,704 | -74.3% |
| Income taxes | 67/77 | €16,631 | €8,216 | -€8,414 | -50.6% |
| Profit (loss) for the period | 9904 | €63,755 | €12,465 | -€51,290 | -80.4% |
| Profit (loss) for the period to be appropriated | 9905 | €63,755 | €12,465 | -€51,290 | -80.4% |
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 22 October 2026 via checked.be.