Verlo: 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.
Verlo
Largest movements
- Stocks and contracts +€558,344
new in 2025: €558,344
- Cash +€108,726
up €108,726 (+1,599%), from €6,800 to €115,527
mainly Short-term financial debts (+€525,000) and Debts after one year (+€178,821)
- Tangible fixed assets +€76,808
up €76,808 (+104%), from €73,932 to €150,740
of which Plant, machinery and equipment: +€76,808
- Intangible fixed assets +€43,496
new in 2025: €43,496
- Short-term financial debts +€525,000
new in 2025: €525,000
- Debts after one year +€178,821
up €178,821 (+438%), from €40,789 to €219,610
- Trade debts +€50,308
up €50,308 (+1,233%), from €4,081 to €54,389
- Tax, wage and social debts +€24,959
up €24,959 (+212%), from €11,770 to €36,729
of which Taxes: +€15,090
- Staff costs +€28,659
new in 2025: €28,659
- Gross operating margin +€11,009
up €11,009 (+34.8%), from €31,658 to €42,667
- Depreciation +€4,052
up €4,052 (+629%), from €644 to €4,696
- Financial charges +€731
up €731 (+31.7%), from €2,304 to €3,035
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 | €107,441 | €888,574 | +€781,133 | +727% |
| Fixed assets | 21/28 | €74,026 | €194,331 | +€120,304 | +163% |
| Intangible fixed assets | 21 | - | €43,496 | +€43,496 | |
| Tangible fixed assets | 22/27 | €73,932 | €150,740 | +€76,808 | +104% |
| Plant, machinery and equipment | 23 | €1,465 | €78,273 | +€76,808 | +5,244% |
| Furniture and vehicles | 24 | €72,468 | €72,468 | = | 0.0% |
| Financial fixed assets | 28 | €94 | €94 | = | 0.0% |
| Current assets | 29/58 | €33,414 | €694,243 | +€660,829 | +1,978% |
| Stocks and contracts in progress | 3 | - | €558,344 | +€558,344 | |
| Stocks | 30/36 | - | €558,344 | +€558,344 | |
| Amounts receivable within one year | 40/41 | €26,524 | €19,647 | -€6,877 | -25.9% |
| Trade receivables | 40 | €26,452 | €19,556 | -€6,896 | -26.1% |
| Other amounts receivable | 41 | €72 | €91 | +€19 | +26.3% |
| Cash at bank and in hand | 54/58 | €6,800 | €115,527 | +€108,726 | +1,599% |
| Deferred charges and accrued income | 490/1 | €90 | €725 | +€636 | +710% |
| Total equity and liabilities | 10/49 | €107,441 | €888,574 | +€781,133 | +727% |
| Equity | 10/15 | €17,397 | €21,199 | +€3,802 | +21.9% |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Reserves | 13 | €122,282 | €122,282 | = | 0.0% |
| Non-distributable reserves | 130/1 | €29,931 | €29,931 | = | 0.0% |
| Reserves not available under the articles | 1311 | €29,931 | €29,931 | = | 0.0% |
| Distributable reserves | 133 | €92,351 | €92,351 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€142,069 | -€138,267 | +€3,802 | +2.7% |
| Amounts payable | 17/49 | €90,043 | €867,375 | +€777,331 | +863% |
| Amounts payable after more than one year | 17 | €40,789 | €219,610 | +€178,821 | +438% |
| Financial debts | 170/4 | €40,789 | €219,610 | +€178,821 | +438% |
| Amounts payable within one year | 42/48 | €49,254 | €645,972 | +€596,718 | +1,212% |
| Current portion of amounts payable after more than one year | 42 | €20,958 | €21,179 | +€221 | +1.1% |
| Financial debts | 43 | - | €525,000 | +€525,000 | |
| Credit institutions | 430/8 | - | €525,000 | +€525,000 | |
| Trade debts | 44 | €4,081 | €54,389 | +€50,308 | +1,233% |
| Suppliers | 440/4 | €4,081 | €54,389 | +€50,308 | +1,233% |
| Taxes, remuneration and social security | 45 | €11,770 | €36,729 | +€24,959 | +212% |
| Taxes | 450/3 | €8,770 | €23,861 | +€15,090 | +172% |
| Remuneration and social security | 454/9 | €3,000 | €12,869 | +€9,869 | +329% |
| Other amounts payable | 47/48 | €12,445 | €8,675 | -€3,770 | -30.3% |
| Accrued charges and deferred income | 492/3 | - | €1,792 | +€1,792 | |
| Remuneration, social security and pensions | 62 | - | €28,659 | +€28,659 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €644 | €4,696 | +€4,052 | +629% |
| Other operating charges | 640/8 | €2,107 | €2,221 | +€114 | +5.4% |
| Gross operating margin | 9900 | €31,658 | €42,667 | +€11,009 | +34.8% |
| Operating profit (loss) | 9901 | €28,907 | €7,092 | -€21,815 | -75.5% |
| Financial income | 75/76B | €403 | €91 | -€312 | -77.5% |
| Recurring financial income | 75 | €403 | €91 | -€312 | -77.5% |
| Financial charges | 65/66B | €2,304 | €3,035 | +€731 | +31.7% |
| Recurring financial charges | 65 | €2,304 | €3,035 | +€731 | +31.7% |
| Profit (loss) for the period before taxes | 9903 | €27,006 | €4,147 | -€22,858 | -84.6% |
| Income taxes | 67/77 | €313 | €346 | +€32 | +10.4% |
| Profit (loss) for the period | 9904 | €26,693 | €3,802 | -€22,891 | -85.8% |
| Profit (loss) for the period to be appropriated | 9905 | €26,693 | €3,802 | -€22,891 | -85.8% |
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 24 October 2026 via checked.be.