VERO CONSTRUCT: 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 CONSTRUCT
Largest movements
- Stocks and contracts +€540,349
up €540,349 (+162.1%), from €333,425 to €873,774
- Cash +€118,009
up €118,009 (+188.3%), from €62,686 to €180,695
mainly Advances received (+€569,902) and Other debts (+€104,354)
- Receivables within one year +€17,292
up €17,292 (+287.9%), from €6,006 to €23,298
of which Trade receivables: +€9,502
- Advances received +€569,902
new in 2025: €569,902
- Other debts +€104,354
up €104,354 (+51.1%), from €204,219 to €308,573
- Reserves +€54,258
up €54,258 (+613.3%), from €8,847 to €63,106
- Debts after one year -€54,231
down €54,231 (-10.3%), from €528,490 to €474,258
- Accrued charges and deferred income +€17,433
up €17,433 (+559.4%), from €3,116 to €20,549
- Financial income +€39,961
up €39,961 (+38446.4%), from €104 to €40,065
- Gross operating margin +€25,634
up €25,634 (+176.5%), from €14,522 to €40,156
- Taxes +€6,466
up €6,466 (+5051.9%), from €128 to €6,594
- Financial charges +€3,497
up €3,497 (+29.8%), from €11,744 to €15,241
- Depreciation +€920
up €920 (+31.6%), from €2,915 to €3,835
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 | €775,373 | €1,452,656 | +€677,282 | +87.3% |
| Fixed assets | 21/28 | €373,256 | €369,421 | -€3,835 | -1.0% |
| Tangible fixed assets | 22/27 | €18,256 | €14,421 | -€3,835 | -21.0% |
| Plant, machinery and equipment | 23 | €1,736 | €839 | -€897 | -51.7% |
| Furniture and vehicles | 24 | €12,999 | €10,861 | -€2,139 | -16.5% |
| Other tangible fixed assets | 26 | €3,521 | €2,721 | -€800 | -22.7% |
| Financial fixed assets | 28 | €355,000 | €355,000 | = | 0.0% |
| Current assets | 29/58 | €402,117 | €1,083,235 | +€681,118 | +169.4% |
| Stocks and contracts in progress | 3 | €333,425 | €873,774 | +€540,349 | +162.1% |
| Stocks | 30/36 | €333,425 | €873,774 | +€540,349 | +162.1% |
| Amounts receivable within one year | 40/41 | €6,006 | €23,298 | +€17,292 | +287.9% |
| Trade receivables | 40 | - | €9,502 | +€9,502 | |
| Other amounts receivable | 41 | €6,006 | €13,796 | +€7,790 | +129.7% |
| Cash at bank and in hand | 54/58 | €62,686 | €180,695 | +€118,009 | +188.3% |
| Deferred charges and accrued income | 490/1 | - | €5,468 | +€5,468 | |
| Total equity and liabilities | 10/49 | €775,373 | €1,452,656 | +€677,282 | +87.3% |
| Equity | 10/15 | €11,847 | €66,106 | +€54,258 | +458.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €8,847 | €63,106 | +€54,258 | +613.3% |
| Distributable reserves | 133 | €8,847 | €63,106 | +€54,258 | +613.3% |
| Amounts payable | 17/49 | €763,526 | €1,386,550 | +€623,024 | +81.6% |
| Amounts payable after more than one year | 17 | €528,490 | €474,258 | -€54,231 | -10.3% |
| Financial debts | 170/4 | €528,490 | €474,258 | -€54,231 | -10.3% |
| Amounts payable within one year | 42/48 | €231,920 | €891,743 | +€659,823 | +284.5% |
| Trade debts | 44 | €22,521 | €6,673 | -€15,848 | -70.4% |
| Suppliers | 440/4 | €22,521 | €6,673 | -€15,848 | -70.4% |
| Advances received on contracts in progress | 46 | - | €569,902 | +€569,902 | |
| Taxes, remuneration and social security | 45 | €5,180 | €6,594 | +€1,414 | +27.3% |
| Taxes | 450/3 | €5,180 | €6,594 | +€1,414 | +27.3% |
| Other amounts payable | 47/48 | €204,219 | €308,573 | +€104,354 | +51.1% |
| Accrued charges and deferred income | 492/3 | €3,116 | €20,549 | +€17,433 | +559.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,915 | €3,835 | +€920 | +31.6% |
| Other operating charges | 640/8 | €214 | €292 | +€78 | +36.4% |
| Gross operating margin | 9900 | €14,522 | €40,156 | +€25,634 | +176.5% |
| Operating profit (loss) | 9901 | €11,393 | €36,028 | +€24,636 | +216.2% |
| Financial income | 75/76B | €104 | €40,065 | +€39,961 | +38446.4% |
| Recurring financial income | 75 | €104 | €40,065 | +€39,961 | +38446.4% |
| Financial charges | 65/66B | €11,744 | €15,241 | +€3,497 | +29.8% |
| Recurring financial charges | 65 | €11,744 | €15,241 | +€3,497 | +29.8% |
| Profit (loss) for the period before taxes | 9903 | -€248 | €60,853 | +€61,100 | |
| Income taxes | 67/77 | €128 | €6,594 | +€6,466 | +5051.9% |
| Profit (loss) for the period | 9904 | -€376 | €54,258 | +€54,634 | |
| Profit (loss) for the period to be appropriated | 9905 | -€376 | €54,258 | +€54,634 |
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 4 October 2026 via checked.be.