VERO: what changed
Two fiscal 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.
VERO
Largest movements
- Receivables within one year -€114,559
down €114,559 (-81.2%), from €141,095 to €26,536
of which Trade receivables: -€111,426
- Tangible fixed assets -€31,733
down €31,733 (-13.7%), from €232,331 to €200,598
- Cash -€18,333
down €18,333 (-12.3%), from €149,067 to €130,734
mainly Contributions, distributions and other (-€100,000) and Other debts (-€59,295)
- Reserves -€100,000
down €100,000 (-20.7%), from €482,092 to €382,092
of which Distributable reserves: -€100,000
- Other debts -€59,295
down €59,295 (-26.8%), from €221,286 to €161,991
- Gross operating margin -€478,685
down €478,685 (-78.8%), from €607,756 to €129,071
- Financial income -€200,000
down €200,000 (-100.0%), from €200,000 to €0
- Taxes -€119,629
down €119,629 (-97.5%), from €122,678 to €3,049
- Financial charges -€12,138
down €12,138 (-56.9%), from €21,326 to €9,187
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 | €1,524,033 | €1,359,407 | -€164,625 | -10.8% |
| Fixed assets | 21/28 | €1,233,870 | €1,202,137 | -€31,733 | -2.6% |
| Tangible fixed assets | 22/27 | €232,331 | €200,598 | -€31,733 | -13.7% |
| Land and buildings | 22 | €232,331 | €200,598 | -€31,733 | -13.7% |
| Financial fixed assets | 28 | €1,001,539 | €1,001,539 | = | 0.0% |
| Current assets | 29/58 | €290,162 | €157,270 | -€132,892 | -45.8% |
| Amounts receivable within one year | 40/41 | €141,095 | €26,536 | -€114,559 | -81.2% |
| Trade receivables | 40 | €130,916 | €19,490 | -€111,426 | -85.1% |
| Other amounts receivable | 41 | €10,179 | €7,046 | -€3,133 | -30.8% |
| Cash at bank and in hand | 54/58 | €149,067 | €130,734 | -€18,333 | -12.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,524,033 | €1,359,407 | -€164,625 | -10.8% |
| Equity | 10/15 | €1,231,539 | €1,136,943 | -€94,596 | -7.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €482,092 | €382,092 | -€100,000 | -20.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €482,092 | €382,092 | -€100,000 | -20.7% |
| Profit (loss) carried forward | 14 | €699,447 | €704,851 | +€5,404 | +0.8% |
| Amounts payable | 17/49 | €292,493 | €222,464 | -€70,029 | -23.9% |
| Amounts payable within one year | 42/48 | €272,229 | €212,425 | -€59,804 | -22.0% |
| Trade debts | 44 | €1,426 | €1,518 | +€92 | +6.4% |
| Suppliers | 440/4 | €1,426 | €1,518 | +€92 | +6.4% |
| Taxes, remuneration and social security | 45 | €49,517 | €48,916 | -€601 | -1.2% |
| Taxes | 450/3 | €37,722 | €37,991 | +€269 | +0.7% |
| Remuneration and social security | 454/9 | €11,795 | €10,926 | -€869 | -7.4% |
| Other amounts payable | 47/48 | €221,286 | €161,991 | -€59,295 | -26.8% |
| Accrued charges and deferred income | 492/3 | €20,264 | €10,039 | -€10,225 | -50.5% |
| Remuneration, social security and pensions | 62 | €74,933 | €77,928 | +€2,995 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,733 | €31,733 | = | 0.0% |
| Other operating charges | 640/8 | €1,802 | €1,771 | -€32 | -1.8% |
| Gross operating margin | 9900 | €607,756 | €129,071 | -€478,685 | -78.8% |
| Operating profit (loss) | 9901 | €499,289 | €17,640 | -€481,649 | -96.5% |
| Financial income | 75/76B | €200,000 | €0 | -€200,000 | -100.0% |
| Recurring financial income | 75 | €200,000 | €0 | -€200,000 | -100.0% |
| Financial charges | 65/66B | €21,326 | €9,187 | -€12,138 | -56.9% |
| Recurring financial charges | 65 | €21,326 | €9,187 | -€12,138 | -56.9% |
| Profit (loss) for the period before taxes | 9903 | €677,963 | €8,453 | -€669,510 | -98.8% |
| Income taxes | 67/77 | €122,678 | €3,049 | -€119,629 | -97.5% |
| Profit (loss) for the period | 9904 | €555,285 | €5,404 | -€549,882 | -99.0% |
| Profit (loss) for the period to be appropriated | 9905 | €555,285 | €5,404 | -€549,882 | -99.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.