Verofar: 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.
Verofar
Largest movements
- Current investments -€621,986
down €621,986 (-91.7%), from €678,050 to €56,064
- Receivables within one year -€80,512
down €80,512 (-37.7%), from €213,474 to €132,962
of which Other amounts receivable: -€79,999
- Cash -€55,584
down €55,584 (-75.2%), from €73,887 to €18,303
mainly Contributions, distributions and other (-€1.4m) and Accrued charges and deferred income (-€109,683)
- Reserves -€995,920
down €995,920 (-58.0%), from €1.7m to €720,939
- Other debts +€406,720
up €406,720 (+231%), from €175,964 to €582,684
- Accrued charges and deferred income -€109,683
down €109,683 (-99.8%), from €109,956 to €273
- Tax, wage and social debts -€30,145
down €30,145 (-79.8%), from €37,760 to €7,615
- Current portion of long-term debt -€27,182
no longer reported in 2025 (was €27,182)
- Financial income +€122,449
up €122,449 (+60.8%), from €201,550 to €323,999
- Gross operating margin -€5,928
down €5,928 (-5.0%), from €117,630 to €111,702
- Taxes +€1,767
up €1,767 (+7.3%), from €24,352 to €26,119
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 | €2,489,977 | €1,733,115 | -€756,862 | -30.4% |
| Fixed assets | 21/28 | €1,524,567 | €1,525,787 | +€1,220 | +0.1% |
| Tangible fixed assets | 22/27 | €787 | €787 | = | 0.0% |
| Furniture and vehicles | 24 | €787 | €787 | = | 0.0% |
| Financial fixed assets | 28 | €1,523,780 | €1,525,000 | +€1,220 | +0.1% |
| Current assets | 29/58 | €965,410 | €207,329 | -€758,082 | -78.5% |
| Amounts receivable within one year | 40/41 | €213,474 | €132,962 | -€80,512 | -37.7% |
| Trade receivables | 40 | €512 | - | -€512 | |
| Other amounts receivable | 41 | €212,961 | €132,962 | -€79,999 | -37.6% |
| Current investments | 50/53 | €678,050 | €56,064 | -€621,986 | -91.7% |
| Cash at bank and in hand | 54/58 | €73,887 | €18,303 | -€55,584 | -75.2% |
| Total equity and liabilities | 10/49 | €2,489,977 | €1,733,115 | -€756,862 | -30.4% |
| Equity | 10/15 | €2,136,858 | €1,140,939 | -€995,920 | -46.6% |
| Contributions | 10/11 | €420,000 | €420,000 | = | 0.0% |
| Reserves | 13 | €1,716,858 | €720,939 | -€995,920 | -58.0% |
| Distributable reserves | 133 | €1,716,858 | €720,939 | -€995,920 | -58.0% |
| Amounts payable | 17/49 | €353,119 | €592,177 | +€239,058 | +67.7% |
| Amounts payable within one year | 42/48 | €243,163 | €591,904 | +€348,741 | +143% |
| Current portion of amounts payable after more than one year | 42 | €27,182 | - | -€27,182 | |
| Trade debts | 44 | €2,257 | €1,605 | -€652 | -28.9% |
| Suppliers | 440/4 | €2,257 | €1,605 | -€652 | -28.9% |
| Taxes, remuneration and social security | 45 | €37,760 | €7,615 | -€30,145 | -79.8% |
| Taxes | 450/3 | €37,760 | €7,615 | -€30,145 | -79.8% |
| Other amounts payable | 47/48 | €175,964 | €582,684 | +€406,720 | +231% |
| Accrued charges and deferred income | 492/3 | €109,956 | €273 | -€109,683 | -99.8% |
| Other operating charges | 640/8 | €653 | €144 | -€509 | -77.9% |
| Gross operating margin | 9900 | €117,630 | €111,702 | -€5,928 | -5.0% |
| Operating profit (loss) | 9901 | €116,977 | €111,558 | -€5,419 | -4.6% |
| Financial income | 75/76B | €201,550 | €323,999 | +€122,449 | +60.8% |
| Recurring financial income | 75 | €201,550 | €323,999 | +€122,449 | +60.8% |
| Financial charges | 65/66B | €1,410 | €358 | -€1,052 | -74.6% |
| Recurring financial charges | 65 | €1,410 | €358 | -€1,052 | -74.6% |
| Profit (loss) for the period before taxes | 9903 | €317,117 | €435,199 | +€118,082 | +37.2% |
| Income taxes | 67/77 | €24,352 | €26,119 | +€1,767 | +7.3% |
| Profit (loss) for the period | 9904 | €292,765 | €409,080 | +€116,316 | +39.7% |
| Profit (loss) for the period to be appropriated | 9905 | €292,765 | €409,080 | +€116,316 | +39.7% |
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 27 October 2026 via checked.be.