VERLING: 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.
What changed
VERLING
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€389,882
2024 · €226,617+€163,265
Equity
€62.3m
2024 · €61.9m+€383,134
Cash
€112
2024 · €214-€103
Balance sheet total
€300.6m
2024 · €301.4m-€813,192
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Gross operating margin +€203,886
up €203,886 (+7.7%), from €2.7m to €2.9m
- Financial income -€143,441
down €143,441 (-20.3%), from €707,581 to €564,140
- Financial charges -€140,570
down €140,570 (-6.8%), from €2.1m to €1.9m
- Taxes +€54,330
up €54,330 (+45.1%), from €120,516 to €174,846
- Depreciation -€43,112
down €43,112 (-5.5%), from €778,967 to €735,855
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.
Result 2024
€226,617
Gross operating margin
+€203,886
Depreciation
+€43,112
Write-downs
-€23,004
Other operating charges
-€3,530
Financial income
-€143,441
Financial charges
+€140,570
Taxes
-€54,330
Result 2025
€389,882
raises the resultlowers the result
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.
From operations
+€158,626
Investment
-€6,981
Financing
-€151,748
Cash 2024
€214
From operations (derived)
+€158,626
Net result for the year
+€389,882
Depreciation
+€735,855
Receivables within one year
+€57,084
Deferred charges and accrued income
+€27,131
Provisions
-€44,759
Trade debts
+€73,999
Tax, wage and social debts
+€21,188
Advances received
-€137,054
Other debts
-€1.4m
Accrued charges and deferred income
+€441,138
Investment (derived)
-€6,981
Investment in fixed assets (net)
-€6,981
Financing
-€151,748
Debts after one year
-€355,000
Current portion of long-term debt
+€210,000
Contributions, distributions and other
-€6,748
Cash 2025
€112
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €301,435,864 | €300,622,673 | -€813,192 | -0.3% |
| Fixed assets | 21/28 | €300,311,524 | €299,582,650 | -€728,874 | -0.2% |
| Tangible fixed assets | 22/27 | €10,408,205 | €9,679,331 | -€728,874 | -7.0% |
| Land and buildings | 22 | €10,408,205 | €9,679,331 | -€728,874 | -7.0% |
| Financial fixed assets | 28 | €289,903,319 | €289,903,319 | = | 0.0% |
| Current assets | 29/58 | €1,124,340 | €1,040,022 | -€84,318 | -7.5% |
| Amounts receivable within one year | 40/41 | €456,972 | €399,888 | -€57,084 | -12.5% |
| Trade receivables | 40 | €456,972 | €399,888 | -€57,084 | -12.5% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €214 | €112 | -€103 | -47.9% |
| Deferred charges and accrued income | 490/1 | €667,154 | €640,023 | -€27,131 | -4.1% |
| Total equity and liabilities | 10/49 | €301,435,864 | €300,622,673 | -€813,192 | -0.3% |
| Equity | 10/15 | €61,924,769 | €62,307,903 | +€383,134 | +0.6% |
| Contributions | 10/11 | €34,280,198 | €34,280,198 | = | 0.0% |
| Capital | 10 | €34,280,198 | €34,280,198 | = | 0.0% |
| Issued capital | 100 | €34,280,198 | €34,280,198 | = | 0.0% |
| Reserves | 13 | €2,696,295 | €2,606,270 | -€90,026 | -3.3% |
| Non-distributable reserves | 130/1 | €698,300 | €742,552 | +€44,253 | +6.3% |
| Legal reserve | 130 | €698,300 | €742,552 | +€44,253 | +6.3% |
| Tax-exempt reserves | 132 | €1,904,501 | €1,770,223 | -€134,278 | -7.1% |
| Distributable reserves | 133 | €93,494 | €93,494 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,931,979 | €25,411,887 | +€479,907 | +1.9% |
| Investment grants | 15 | €16,297 | €9,548 | -€6,748 | -41.4% |
| Provisions and deferred taxes | 16 | €634,834 | €590,074 | -€44,759 | -7.1% |
| Deferred taxes | 168 | €634,834 | €590,074 | -€44,759 | -7.1% |
| Amounts payable | 17/49 | €238,876,261 | €237,724,696 | -€1.2m | -0.5% |
| Amounts payable after more than one year | 17 | €232,650,350 | €232,295,350 | -€355,000 | -0.2% |
| Financial debts | 170/4 | €232,650,350 | €232,295,350 | -€355,000 | -0.2% |
| Amounts payable within one year | 42/48 | €5,135,519 | €3,897,815 | -€1.2m | -24.1% |
| Current portion of amounts payable after more than one year | 42 | €1,295,000 | €1,505,000 | +€210,000 | +16.2% |
| Trade debts | 44 | €183,735 | €257,734 | +€73,999 | +40.3% |
| Suppliers | 440/4 | €183,735 | €257,734 | +€73,999 | +40.3% |
| Advances received on contracts in progress | 46 | €144,399 | €7,344 | -€137,054 | -94.9% |
| Taxes, remuneration and social security | 45 | €4,226 | €25,414 | +€21,188 | +501% |
| Taxes | 450/3 | €4,226 | €25,414 | +€21,188 | +501% |
| Other amounts payable | 47/48 | €3,508,160 | €2,102,323 | -€1.4m | -40.1% |
| Accrued charges and deferred income | 492/3 | €1,090,392 | €1,531,530 | +€441,138 | +40.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €778,967 | €735,855 | -€43,112 | -5.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €23,004 | +€23,004 | |
| Other operating charges | 640/8 | €204,760 | €208,290 | +€3,530 | +1.7% |
| Gross operating margin | 9900 | €2,655,667 | €2,859,553 | +€203,886 | +7.7% |
| Operating profit (loss) | 9901 | €1,671,941 | €1,892,405 | +€220,465 | +13.2% |
| Financial income | 75/76B | €707,581 | €564,140 | -€143,441 | -20.3% |
| Recurring financial income | 75 | €707,581 | €564,140 | -€143,441 | -20.3% |
| Financial charges | 65/66B | €2,077,147 | €1,936,577 | -€140,570 | -6.8% |
| Recurring financial charges | 65 | €2,077,147 | €1,936,577 | -€140,570 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €302,374 | €519,968 | +€217,594 | +72.0% |
| Transfer from deferred taxes | 780 | €44,759 | €44,759 | +€0 | 0.0% |
| Income taxes | 67/77 | €120,516 | €174,846 | +€54,330 | +45.1% |
| Profit (loss) for the period | 9904 | €226,617 | €389,882 | +€163,265 | +72.0% |
| Transfer from tax-exempt reserves | 789 | €134,278 | €134,278 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €360,895 | €524,160 | +€163,265 | +45.2% |
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 25 October 2026 via checked.be.