VERLINDE: 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.
VERLINDE
Largest movements
- Receivables within one year +€47,987
up €47,987 (+175.2%), from €27,391 to €75,378
of which Other amounts receivable: +€29,015
- Tangible fixed assets -€10,376
down €10,376 (-44.6%), from €23,254 to €12,878
- Cash -€4,575
down €4,575 (-46.0%), from €9,956 to €5,381
mainly Receivables within one year (-€47,987) and Debts after one year (-€3,355)
- Stocks and contracts -€1,305
down €1,305 (-6.0%), from €21,793 to €20,488
- Reserves +€23,708
up €23,708 (+101.5%), from €23,368 to €47,075
of which Distributable reserves: +€23,708
- Trade debts +€11,668
up €11,668 (+72.1%), from €16,184 to €27,852
- Debts after one year -€3,355
down €3,355 (-24.7%), from €13,581 to €10,226
- Current portion of long-term debt -€2,602
down €2,602 (-43.7%), from €5,957 to €3,355
- Accrued charges and deferred income +€2,093
new in 2025: €2,093
- Gross operating margin +€9,260
up €9,260 (+30.1%), from €30,751 to €40,010
- Financial charges -€2,452
down €2,452 (-51.5%), from €4,761 to €2,310
- Taxes +€1,575
up €1,575 (+134.9%), from €1,167 to €2,742
- Financial income +€1,147
up €1,147 (+115.9%), from €990 to €2,137
- Other operating charges -€591
down €591 (-33.6%), from €1,760 to €1,169
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 | €86,268 | €117,688 | +€31,420 | +36.4% |
| Fixed assets | 21/28 | €23,954 | €13,578 | -€10,376 | -43.3% |
| Tangible fixed assets | 22/27 | €23,254 | €12,878 | -€10,376 | -44.6% |
| Land and buildings | 22 | €3,355 | €0 | -€3,355 | -100.0% |
| Plant, machinery and equipment | 23 | €9,114 | €4,715 | -€4,399 | -48.3% |
| Furniture and vehicles | 24 | €10,785 | €8,163 | -€2,621 | -24.3% |
| Financial fixed assets | 28 | €700 | €700 | = | 0.0% |
| Current assets | 29/58 | €62,314 | €104,110 | +€41,796 | +67.1% |
| Stocks and contracts in progress | 3 | €21,793 | €20,488 | -€1,305 | -6.0% |
| Stocks | 30/36 | €21,793 | €20,488 | -€1,305 | -6.0% |
| Amounts receivable within one year | 40/41 | €27,391 | €75,378 | +€47,987 | +175.2% |
| Trade receivables | 40 | €7,935 | €26,908 | +€18,973 | +239.1% |
| Other amounts receivable | 41 | €19,456 | €48,471 | +€29,015 | +149.1% |
| Cash at bank and in hand | 54/58 | €9,956 | €5,381 | -€4,575 | -46.0% |
| Deferred charges and accrued income | 490/1 | €3,173 | €2,862 | -€312 | -9.8% |
| Total equity and liabilities | 10/49 | €86,268 | €117,688 | +€31,420 | +36.4% |
| Equity | 10/15 | €41,960 | €65,667 | +€23,708 | +56.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €23,368 | €47,075 | +€23,708 | +101.5% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €770 | €770 | = | 0.0% |
| Distributable reserves | 133 | €20,739 | €44,447 | +€23,708 | +114.3% |
| Amounts payable | 17/49 | €44,308 | €52,021 | +€7,712 | +17.4% |
| Amounts payable after more than one year | 17 | €13,581 | €10,226 | -€3,355 | -24.7% |
| Financial debts | 170/4 | €13,581 | €10,226 | -€3,355 | -24.7% |
| Amounts payable within one year | 42/48 | €30,727 | €39,701 | +€8,974 | +29.2% |
| Current portion of amounts payable after more than one year | 42 | €5,957 | €3,355 | -€2,602 | -43.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €16,184 | €27,852 | +€11,668 | +72.1% |
| Suppliers | 440/4 | €16,184 | €27,852 | +€11,668 | +72.1% |
| Taxes, remuneration and social security | 45 | €8,586 | €8,494 | -€92 | -1.1% |
| Taxes | 450/3 | €8,586 | €8,494 | -€92 | -1.1% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | - | €2,093 | +€2,093 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,383 | €12,219 | -€163 | -1.3% |
| Other operating charges | 640/8 | €1,760 | €1,169 | -€591 | -33.6% |
| Gross operating margin | 9900 | €30,751 | €40,010 | +€9,260 | +30.1% |
| Operating profit (loss) | 9901 | €16,608 | €26,622 | +€10,014 | +60.3% |
| Financial income | 75/76B | €990 | €2,137 | +€1,147 | +115.9% |
| Recurring financial income | 75 | €990 | €2,137 | +€1,147 | +115.9% |
| Financial charges | 65/66B | €4,761 | €2,310 | -€2,452 | -51.5% |
| Recurring financial charges | 65 | €4,761 | €2,310 | -€2,452 | -51.5% |
| Profit (loss) for the period before taxes | 9903 | €12,836 | €26,449 | +€13,613 | +106.1% |
| Income taxes | 67/77 | €1,167 | €2,742 | +€1,575 | +134.9% |
| Profit (loss) for the period | 9904 | €11,669 | €23,708 | +€12,039 | +103.2% |
| Profit (loss) for the period to be appropriated | 9905 | €11,669 | €23,708 | +€12,039 | +103.2% |
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 11 October 2026 via checked.be.