VERLUMMO: 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.
VERLUMMO
Largest movements
- Receivables within one year -€77,243
down €77,243 (-42.9%), from €180,029 to €102,786
of which Other amounts receivable: -€95,225
- Tangible fixed assets +€69,635
up €69,635 (+6.0%), from €1.2m to €1.2m
- Cash +€20,759
up €20,759 (+8.9%), from €233,472 to €254,231
mainly Receivables within one year (+€77,243) and Net result for the year (+€59,448)
- Other debts -€114,711
down €114,711 (-30.7%), from €373,655 to €258,945
- Debts after one year +€45,272
up €45,272 (+250%), from €18,100 to €63,372
of which Financial debts: +€44,972
- Profit (loss) carried forward +€32,679
no longer reported in 2025 (was -€32,679)
- Reserves +€26,769
up €26,769 (+4.0%), from €661,308 to €688,077
of which Distributable reserves: +€27,760
- Gross operating margin -€288,257
down €288,257 (-60.3%), from €478,156 to €189,900
- Depreciation -€35,068
down €35,068 (-38.6%), from €90,780 to €55,712
- Taxes +€17,862
up €17,862 (+287%), from €6,213 to €24,075
- Financial charges -€8,536
down €8,536 (-26.1%), from €32,699 to €24,163
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 | €1,669,019 | €1,686,164 | +€17,145 | +1.0% |
| Fixed assets | 21/28 | €1,195,013 | €1,264,648 | +€69,635 | +5.8% |
| Tangible fixed assets | 22/27 | €1,161,413 | €1,231,048 | +€69,635 | +6.0% |
| Land and buildings | 22 | €1,134,398 | €1,167,507 | +€33,110 | +2.9% |
| Plant, machinery and equipment | 23 | €3,024 | €8,514 | +€5,489 | +182% |
| Furniture and vehicles | 24 | €23,991 | €55,027 | +€31,035 | +129% |
| Financial fixed assets | 28 | €33,600 | €33,600 | = | 0.0% |
| Current assets | 29/58 | €474,006 | €421,516 | -€52,490 | -11.1% |
| Stocks and contracts in progress | 3 | €46,766 | €46,766 | = | 0.0% |
| Stocks | 30/36 | €46,766 | €46,766 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €180,029 | €102,786 | -€77,243 | -42.9% |
| Trade receivables | 40 | €6,946 | €24,928 | +€17,982 | +259% |
| Other amounts receivable | 41 | €173,083 | €77,858 | -€95,225 | -55.0% |
| Cash at bank and in hand | 54/58 | €233,472 | €254,231 | +€20,759 | +8.9% |
| Deferred charges and accrued income | 490/1 | €13,739 | €17,733 | +€3,994 | +29.1% |
| Total equity and liabilities | 10/49 | €1,669,019 | €1,686,164 | +€17,145 | +1.0% |
| Equity | 10/15 | €1,139,290 | €1,198,737 | +€59,448 | +5.2% |
| Contributions | 10/11 | €510,661 | €510,661 | = | 0.0% |
| Capital | 10 | €510,661 | €510,661 | = | 0.0% |
| Issued capital | 100 | €510,661 | €510,661 | = | 0.0% |
| Reserves | 13 | €661,308 | €688,077 | +€26,769 | +4.0% |
| Non-distributable reserves | 130/1 | €22,241 | €25,568 | +€3,327 | +15.0% |
| Legal reserve | 130 | €22,241 | €25,568 | +€3,327 | +15.0% |
| Tax-exempt reserves | 132 | €229,895 | €225,577 | -€4,318 | -1.9% |
| Distributable reserves | 133 | €409,172 | €436,932 | +€27,760 | +6.8% |
| Profit (loss) carried forward | 14 | -€32,679 | - | +€32,679 | |
| Provisions and deferred taxes | 16 | €76,632 | €75,192 | -€1,439 | -1.9% |
| Deferred taxes | 168 | €76,632 | €75,192 | -€1,439 | -1.9% |
| Amounts payable | 17/49 | €453,098 | €412,234 | -€40,864 | -9.0% |
| Amounts payable after more than one year | 17 | €18,100 | €63,372 | +€45,272 | +250% |
| Financial debts | 170/4 | - | €44,972 | +€44,972 | |
| Other amounts payable | 178/9 | €18,100 | €18,400 | +€300 | +1.7% |
| Amounts payable within one year | 42/48 | €431,469 | €345,183 | -€86,286 | -20.0% |
| Current portion of amounts payable after more than one year | 42 | - | €12,663 | +€12,663 | |
| Financial debts | 43 | €20,000 | €28,000 | +€8,000 | +40.0% |
| Credit institutions | 430/8 | €20,000 | €28,000 | +€8,000 | +40.0% |
| Trade debts | 44 | €22,791 | €27,645 | +€4,854 | +21.3% |
| Suppliers | 440/4 | €22,791 | €27,645 | +€4,854 | +21.3% |
| Taxes, remuneration and social security | 45 | €15,022 | €17,930 | +€2,908 | +19.4% |
| Taxes | 450/3 | €15,022 | €17,930 | +€2,908 | +19.4% |
| Other amounts payable | 47/48 | €373,655 | €258,945 | -€114,711 | -30.7% |
| Accrued charges and deferred income | 492/3 | €3,529 | €3,679 | +€150 | +4.3% |
| Non-recurring operating income | 76A | €312,284 | - | -€312,284 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,780 | €55,712 | -€35,068 | -38.6% |
| Other operating charges | 640/8 | €29,431 | €27,955 | -€1,476 | -5.0% |
| Gross operating margin | 9900 | €478,156 | €189,900 | -€288,257 | -60.3% |
| Operating profit (loss) | 9901 | €357,945 | €106,232 | -€251,713 | -70.3% |
| Financial income | 75/76B | €39 | €15 | -€24 | -61.4% |
| Recurring financial income | 75 | €39 | €15 | -€24 | -61.4% |
| Financial charges | 65/66B | €32,699 | €24,163 | -€8,536 | -26.1% |
| Recurring financial charges | 65 | €32,699 | €24,163 | -€8,536 | -26.1% |
| Profit (loss) for the period before taxes | 9903 | €325,284 | €82,084 | -€243,201 | -74.8% |
| Transfer from deferred taxes | 780 | €1,439 | €1,439 | = | 0.0% |
| Transfer to deferred taxes | 680 | €78,071 | - | -€78,071 | |
| Income taxes | 67/77 | €6,213 | €24,075 | +€17,862 | +287% |
| Profit (loss) for the period | 9904 | €242,440 | €59,448 | -€182,992 | -75.5% |
| Transfer from tax-exempt reserves | 789 | €4,318 | €4,318 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €234,213 | - | -€234,213 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,545 | €63,766 | +€51,221 | +408% |
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 23 October 2026 via checked.be.