VEROFA: 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.
VEROFA
Largest movements
- Tangible fixed assets +€207,282
up €207,282 (+841.1%), from €24,645 to €231,927
of which Land and buildings: +€218,079
- Cash +€24,878
up €24,878 (+25.0%), from €99,375 to €124,253
mainly Debts after one year (+€174,106) and Net result for the year (+€47,579)
- Stocks and contracts +€10,720
up €10,720 (+10.3%), from €104,144 to €114,864
- Receivables within one year +€7,573
up €7,573 (+61.4%), from €12,334 to €19,907
of which Trade receivables: +€7,673
- Debts after one year +€174,106
up €174,106 (+1175.0%), from €14,818 to €188,924
- Reserves +€25,000
up €25,000 (+19.0%), from €131,860 to €156,860
of which Distributable reserves: +€25,000
- Profit (loss) carried forward +€22,579
up €22,579 (+46.3%), from €48,735 to €71,314
- Current portion of long-term debt +€12,181
new in 2025: €12,181
- Tax, wage and social debts +€9,203
up €9,203 (+75.3%), from €12,228 to €21,431
- Gross operating margin -€24,894
down €24,894 (-21.5%), from €115,796 to €90,902
- Taxes -€10,061
down €10,061 (-35.9%), from €28,028 to €17,967
- Financial charges -€6,855
down €6,855 (-56.9%), from €12,053 to €5,198
of which Non-recurring financial charges: -€10,000
- Depreciation +€5,881
up €5,881 (+47.5%), from €12,382 to €18,263
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 | €240,498 | €491,601 | +€251,103 | +104.4% |
| Fixed assets | 21/28 | €24,645 | €231,927 | +€207,282 | +841.1% |
| Tangible fixed assets | 22/27 | €24,645 | €231,927 | +€207,282 | +841.1% |
| Land and buildings | 22 | - | €218,079 | +€218,079 | |
| Plant, machinery and equipment | 23 | €7,785 | €6,020 | -€1,765 | -22.7% |
| Furniture and vehicles | 24 | €16,860 | €7,828 | -€9,032 | -53.6% |
| Current assets | 29/58 | €215,853 | €259,674 | +€43,821 | +20.3% |
| Stocks and contracts in progress | 3 | €104,144 | €114,864 | +€10,720 | +10.3% |
| Stocks | 30/36 | €104,144 | €114,864 | +€10,720 | +10.3% |
| Amounts receivable within one year | 40/41 | €12,334 | €19,907 | +€7,573 | +61.4% |
| Trade receivables | 40 | €12,234 | €19,907 | +€7,673 | +62.7% |
| Other amounts receivable | 41 | €100 | - | -€100 | |
| Cash at bank and in hand | 54/58 | €99,375 | €124,253 | +€24,878 | +25.0% |
| Deferred charges and accrued income | 490/1 | - | €650 | +€650 | |
| Total equity and liabilities | 10/49 | €240,498 | €491,601 | +€251,103 | +104.4% |
| Equity | 10/15 | €199,195 | €246,774 | +€47,579 | +23.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €131,860 | €156,860 | +€25,000 | +19.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €130,000 | €155,000 | +€25,000 | +19.2% |
| Profit (loss) carried forward | 14 | €48,735 | €71,314 | +€22,579 | +46.3% |
| Amounts payable | 17/49 | €41,303 | €244,827 | +€203,524 | +492.8% |
| Amounts payable after more than one year | 17 | €14,818 | €188,924 | +€174,106 | +1175.0% |
| Financial debts | 170/4 | €14,818 | €188,924 | +€174,106 | +1175.0% |
| Amounts payable within one year | 42/48 | €25,247 | €55,146 | +€29,899 | +118.4% |
| Current portion of amounts payable after more than one year | 42 | - | €12,181 | +€12,181 | |
| Financial debts | 43 | €4,239 | €9,629 | +€5,390 | +127.2% |
| Credit institutions | 430/8 | €4,239 | €9,629 | +€5,390 | +127.2% |
| Trade debts | 44 | €8,780 | €11,552 | +€2,772 | +31.6% |
| Suppliers | 440/4 | €8,780 | €11,552 | +€2,772 | +31.6% |
| Taxes, remuneration and social security | 45 | €12,228 | €21,431 | +€9,203 | +75.3% |
| Taxes | 450/3 | €12,228 | €21,431 | +€9,203 | +75.3% |
| Other amounts payable | 47/48 | - | €353 | +€353 | |
| Accrued charges and deferred income | 492/3 | €1,238 | €757 | -€481 | -38.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,382 | €18,263 | +€5,881 | +47.5% |
| Other operating charges | 640/8 | €2,358 | €1,935 | -€423 | -17.9% |
| Gross operating margin | 9900 | €115,796 | €90,902 | -€24,894 | -21.5% |
| Operating profit (loss) | 9901 | €101,056 | €70,704 | -€30,352 | -30.0% |
| Financial income | 75/76B | €24 | €40 | +€16 | +66.7% |
| Recurring financial income | 75 | €24 | €40 | +€16 | +66.7% |
| Financial charges | 65/66B | €12,053 | €5,198 | -€6,855 | -56.9% |
| Recurring financial charges | 65 | €2,053 | €5,198 | +€3,145 | +153.2% |
| Non-recurring financial charges | 66B | €10,000 | - | -€10,000 | |
| Profit (loss) for the period before taxes | 9903 | €89,027 | €65,546 | -€23,481 | -26.4% |
| Income taxes | 67/77 | €28,028 | €17,967 | -€10,061 | -35.9% |
| Profit (loss) for the period | 9904 | €60,999 | €47,579 | -€13,420 | -22.0% |
| Profit (loss) for the period to be appropriated | 9905 | €60,999 | €47,579 | -€13,420 | -22.0% |
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 29 September 2026 via checked.be.