VERLINDE-DELVA: 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-DELVA
Largest movements
- Tangible fixed assets +€542,558
up €542,558 (+143%), from €379,166 to €921,725
of which Land and buildings: +€562,778
- Current investments -€273,102
down €273,102 (-28.4%), from €962,583 to €689,481
- Cash -€38,646
down €38,646 (-26.0%), from €148,567 to €109,921
mainly Investment in fixed assets (net) (-€627,541) and Contributions, distributions and other (-€26,240)
- Reserves +€272,601
up €272,601 (+20.8%), from €1.3m to €1.6m
of which Distributable reserves: +€256,925
- Provisions -€18,866
down €18,866 (-35.6%), from €52,992 to €34,126
- Gross operating margin +€236,884
up €236,884 (+100%), from €236,862 to €473,746
- Taxes +€79,756
up €79,756 (+137%), from €58,154 to €137,910
- Depreciation +€68,726
up €68,726 (+418%), from €16,457 to €85,183
- Staff costs -€24,419
down €24,419 (-77.1%), from €31,673 to €7,254
- Financial income +€19,318
up €19,318 (+91.7%), from €21,061 to €40,379
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 | €1,517,422 | €1,757,481 | +€240,059 | +15.8% |
| Fixed assets | 21/28 | €379,366 | €921,725 | +€542,358 | +143% |
| Tangible fixed assets | 22/27 | €379,166 | €921,725 | +€542,558 | +143% |
| Land and buildings | 22 | €352,269 | €915,047 | +€562,778 | +160% |
| Plant, machinery and equipment | 23 | €25,432 | €4,015 | -€21,417 | -84.2% |
| Furniture and vehicles | 24 | - | €2,663 | +€2,663 | |
| Other tangible fixed assets | 26 | €1,466 | - | -€1,466 | |
| Financial fixed assets | 28 | €200 | - | -€200 | |
| Current assets | 29/58 | €1,138,056 | €835,756 | -€302,299 | -26.6% |
| Stocks and contracts in progress | 3 | €9,797 | - | -€9,797 | |
| Stocks | 30/36 | €9,797 | - | -€9,797 | |
| Amounts receivable within one year | 40/41 | €9,009 | €25,672 | +€16,662 | +185% |
| Trade receivables | 40 | €9,009 | €1,510 | -€7,499 | -83.2% |
| Other amounts receivable | 41 | - | €24,161 | +€24,161 | |
| Current investments | 50/53 | €962,583 | €689,481 | -€273,102 | -28.4% |
| Cash at bank and in hand | 54/58 | €148,567 | €109,921 | -€38,646 | -26.0% |
| Deferred charges and accrued income | 490/1 | €8,099 | €10,683 | +€2,583 | +31.9% |
| Total equity and liabilities | 10/49 | €1,517,422 | €1,757,481 | +€240,059 | +15.8% |
| Equity | 10/15 | €1,331,472 | €1,604,073 | +€272,601 | +20.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,312,880 | €1,585,481 | +€272,601 | +20.8% |
| Tax-exempt reserves | 132 | €415,537 | €431,213 | +€15,676 | +3.8% |
| Distributable reserves | 133 | €897,343 | €1,154,268 | +€256,925 | +28.6% |
| Provisions and deferred taxes | 16 | €52,992 | €34,126 | -€18,866 | -35.6% |
| Deferred taxes | 168 | €52,992 | €34,126 | -€18,866 | -35.6% |
| Amounts payable | 17/49 | €132,958 | €119,282 | -€13,676 | -10.3% |
| Amounts payable after more than one year | 17 | €36,900 | €24,600 | -€12,300 | -33.3% |
| Financial debts | 170/4 | €36,900 | €24,600 | -€12,300 | -33.3% |
| Amounts payable within one year | 42/48 | €94,861 | €92,694 | -€2,167 | -2.3% |
| Current portion of amounts payable after more than one year | 42 | €12,300 | €12,300 | = | 0.0% |
| Trade debts | 44 | €18,027 | €3,601 | -€14,426 | -80.0% |
| Suppliers | 440/4 | €18,027 | €3,601 | -€14,426 | -80.0% |
| Advances received on contracts in progress | 46 | €1,997 | €399 | -€1,597 | -80.0% |
| Taxes, remuneration and social security | 45 | €23,451 | €27,894 | +€4,443 | +18.9% |
| Taxes | 450/3 | €20,178 | €27,894 | +€7,717 | +38.2% |
| Remuneration and social security | 454/9 | €3,274 | - | -€3,274 | |
| Other amounts payable | 47/48 | €39,086 | €48,499 | +€9,413 | +24.1% |
| Accrued charges and deferred income | 492/3 | €1,197 | €1,988 | +€791 | +66.1% |
| Non-recurring operating income | 76A | - | €417,602 | +€417,602 | |
| Remuneration, social security and pensions | 62 | €31,673 | €7,254 | -€24,419 | -77.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,457 | €85,183 | +€68,726 | +418% |
| Other operating charges | 640/8 | €2,825 | €2,813 | -€12 | -0.4% |
| Gross operating margin | 9900 | €236,862 | €473,746 | +€236,884 | +100% |
| Operating profit (loss) | 9901 | €185,908 | €378,497 | +€192,589 | +104% |
| Financial income | 75/76B | €21,061 | €40,379 | +€19,318 | +91.7% |
| Recurring financial income | 75 | €21,061 | €40,379 | +€19,318 | +91.7% |
| Financial charges | 65/66B | €1,464 | €990 | -€474 | -32.3% |
| Recurring financial charges | 65 | €1,464 | €990 | -€474 | -32.3% |
| Profit (loss) for the period before taxes | 9903 | €205,504 | €417,885 | +€212,381 | +103% |
| Transfer from deferred taxes | 780 | €3,103 | €18,866 | +€15,763 | +508% |
| Income taxes | 67/77 | €58,154 | €137,910 | +€79,756 | +137% |
| Profit (loss) for the period | 9904 | €150,453 | €298,841 | +€148,388 | +98.6% |
| Transfer from tax-exempt reserves | 789 | €12,180 | €106,414 | +€94,233 | +774% |
| Transfer to tax-exempt reserves | 689 | €63,150 | €122,090 | +€58,940 | +93.3% |
| Profit (loss) for the period to be appropriated | 9905 | €99,483 | €283,165 | +€183,681 | +185% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.