VERLOON: 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.
VERLOON
Largest movements
- Receivables after one year +€1.6m
new in 2025: €1.6m
- Receivables within one year -€1.3m
down €1.3m (-20.3%), from €6.5m to €5.2m
of which Other amounts receivable: -€1.3m
- Current investments -€744,100
down €744,100 (-60.1%), from €1.2m to €494,357
- Other debts -€1.2m
down €1.2m (-30.3%), from €3.9m to €2.7m
- Profit (loss) carried forward +€666,082
up €666,082 (+94.7%), from -€703,707 to -€37,626
- Gross operating margin +€255,974
up €255,974 (+170.8%), from €149,845 to €405,819
- Taxes +€74,889
new in 2025: €74,889
- Financial income -€63,472
down €63,472 (-7.7%), from €824,529 to €761,056
- Financial charges +€60,757
up €60,757 (+22.8%), from €266,110 to €326,867
- Depreciation +€7,521
up €7,521 (+9.1%), from €83,073 to €90,593
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 | €9,830,783 | €9,364,203 | -€466,579 | -4.7% |
| Fixed assets | 21/28 | €1,716,928 | €1,706,611 | -€10,317 | -0.6% |
| Tangible fixed assets | 22/27 | €1,716,928 | €1,706,611 | -€10,317 | -0.6% |
| Land and buildings | 22 | €1,652,632 | €1,639,360 | -€13,271 | -0.8% |
| Plant, machinery and equipment | 23 | €47,806 | €41,377 | -€6,429 | -13.4% |
| Furniture and vehicles | 24 | €16,490 | €25,874 | +€9,383 | +56.9% |
| Current assets | 29/58 | €8,113,854 | €7,657,592 | -€456,262 | -5.6% |
| Amounts receivable after more than one year | 29 | - | €1,635,165 | +€1.6m | |
| Other amounts receivable | 291 | - | €1,635,165 | +€1.6m | |
| Amounts receivable within one year | 40/41 | €6,533,425 | €5,210,357 | -€1.3m | -20.3% |
| Trade receivables | 40 | €22,385 | €18,755 | -€3,630 | -16.2% |
| Other amounts receivable | 41 | €6,511,040 | €5,191,602 | -€1.3m | -20.3% |
| Current investments | 50/53 | €1,238,457 | €494,357 | -€744,100 | -60.1% |
| Cash at bank and in hand | 54/58 | €189,369 | €184,916 | -€4,452 | -2.4% |
| Deferred charges and accrued income | 490/1 | €152,604 | €132,797 | -€19,807 | -13.0% |
| Total equity and liabilities | 10/49 | €9,830,783 | €9,364,203 | -€466,579 | -4.7% |
| Equity | 10/15 | €1,431,282 | €2,097,364 | +€666,082 | +46.5% |
| Contributions | 10/11 | €2,125,000 | €2,125,000 | = | 0.0% |
| Capital | 10 | €2,125,000 | €2,125,000 | = | 0.0% |
| Issued capital | 100 | €2,125,000 | €2,125,000 | = | 0.0% |
| Reserves | 13 | €9,989 | €9,989 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,989 | €9,989 | = | 0.0% |
| Legal reserve | 130 | €9,989 | €9,989 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€703,707 | -€37,626 | +€666,082 | +94.7% |
| Amounts payable | 17/49 | €8,399,501 | €7,266,840 | -€1.1m | -13.5% |
| Amounts payable within one year | 42/48 | €8,315,452 | €7,182,541 | -€1.1m | -13.6% |
| Financial debts | 43 | €4,430,000 | €4,430,000 | = | 0.0% |
| Credit institutions | 430/8 | €4,430,000 | €4,430,000 | = | 0.0% |
| Trade debts | 44 | €17,670 | €15,259 | -€2,411 | -13.6% |
| Suppliers | 440/4 | €17,670 | €15,259 | -€2,411 | -13.6% |
| Taxes, remuneration and social security | 45 | €9,784 | €48,984 | +€39,200 | +400.6% |
| Taxes | 450/3 | €9,784 | €48,984 | +€39,200 | +400.6% |
| Other amounts payable | 47/48 | €3,857,998 | €2,688,298 | -€1.2m | -30.3% |
| Accrued charges and deferred income | 492/3 | €84,049 | €84,299 | +€250 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,073 | €90,593 | +€7,521 | +9.1% |
| Other operating charges | 640/8 | €8,274 | €8,445 | +€171 | +2.1% |
| Gross operating margin | 9900 | €149,845 | €405,819 | +€255,974 | +170.8% |
| Operating profit (loss) | 9901 | €58,498 | €306,780 | +€248,282 | +424.4% |
| Financial income | 75/76B | €824,529 | €761,056 | -€63,472 | -7.7% |
| Recurring financial income | 75 | €824,529 | €761,056 | -€63,472 | -7.7% |
| Financial charges | 65/66B | €266,110 | €326,867 | +€60,757 | +22.8% |
| Recurring financial charges | 65 | €266,110 | €326,867 | +€60,757 | +22.8% |
| Profit (loss) for the period before taxes | 9903 | €616,917 | €740,970 | +€124,053 | +20.1% |
| Income taxes | 67/77 | - | €74,889 | +€74,889 | |
| Profit (loss) for the period | 9904 | €616,917 | €666,082 | +€49,164 | +8.0% |
| Profit (loss) for the period to be appropriated | 9905 | €616,917 | €666,082 | +€49,164 | +8.0% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.