Veronica: 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.
Veronica
Largest movements
- Tangible fixed assets +€178,146
up €178,146 (+32.3%), from €550,863 to €729,009
of which Land and buildings: +€169,095
- Cash -€51,177
down €51,177 (-71.3%), from €71,772 to €20,595
mainly Investment in fixed assets (net) (-€233,993) and Net result for the year (-€28,233)
- Debts after one year +€140,218
up €140,218 (+680.4%), from €20,609 to €160,827
- Profit (loss) carried forward -€28,233
down €28,233 (-11.7%), from -€241,007 to -€269,240
- Current portion of long-term debt +€8,312
up €8,312 (+72.9%), from €11,398 to €19,710
- Gross operating margin -€10,781
down €10,781 (-18.5%), from €58,229 to €47,448
- Depreciation +€5,402
up €5,402 (+10.7%), from €50,444 to €55,847
- Financial charges +€2,129
up €2,129 (+205.1%), from €1,038 to €3,167
- Financial income -€1,307
down €1,307 (-29.2%), from €4,479 to €3,173
- Other operating charges +€1,112
up €1,112 (+5.9%), from €18,726 to €19,839
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 | €707,394 | €828,513 | +€121,119 | +17.1% |
| Fixed assets | 21/28 | €550,863 | €729,009 | +€178,146 | +32.3% |
| Tangible fixed assets | 22/27 | €550,863 | €729,009 | +€178,146 | +32.3% |
| Land and buildings | 22 | €477,565 | €646,660 | +€169,095 | +35.4% |
| Plant, machinery and equipment | 23 | €73,298 | €82,349 | +€9,051 | +12.3% |
| Current assets | 29/58 | €156,530 | €99,504 | -€57,027 | -36.4% |
| Amounts receivable within one year | 40/41 | €83,834 | €77,644 | -€6,189 | -7.4% |
| Trade receivables | 40 | €4,935 | €3,334 | -€1,601 | -32.4% |
| Other amounts receivable | 41 | €78,899 | €74,311 | -€4,588 | -5.8% |
| Cash at bank and in hand | 54/58 | €71,772 | €20,595 | -€51,177 | -71.3% |
| Deferred charges and accrued income | 490/1 | €925 | €1,264 | +€339 | +36.7% |
| Total equity and liabilities | 10/49 | €707,394 | €828,513 | +€121,119 | +17.1% |
| Equity | 10/15 | €673,944 | €645,711 | -€28,233 | -4.2% |
| Contributions | 10/11 | €910,451 | €910,451 | = | 0.0% |
| Capital | 10 | €910,451 | €910,451 | = | 0.0% |
| Issued capital | 100 | €910,451 | €910,451 | = | 0.0% |
| Reserves | 13 | €4,500 | €4,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,500 | €4,500 | = | 0.0% |
| Legal reserve | 130 | €4,500 | €4,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€241,007 | -€269,240 | -€28,233 | -11.7% |
| Amounts payable | 17/49 | €33,450 | €182,802 | +€149,352 | +446.5% |
| Amounts payable after more than one year | 17 | €20,609 | €160,827 | +€140,218 | +680.4% |
| Financial debts | 170/4 | €20,609 | €160,827 | +€140,218 | +680.4% |
| Amounts payable within one year | 42/48 | €12,776 | €21,187 | +€8,411 | +65.8% |
| Current portion of amounts payable after more than one year | 42 | €11,398 | €19,710 | +€8,312 | +72.9% |
| Taxes, remuneration and social security | 45 | €878 | €977 | +€100 | +11.3% |
| Taxes | 450/3 | €878 | €977 | +€100 | +11.3% |
| Other amounts payable | 47/48 | €500 | €500 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €65 | €788 | +€723 | +1108.3% |
| Non-recurring operating income | 76A | €1,763 | €1,550 | -€213 | -12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,444 | €55,847 | +€5,402 | +10.7% |
| Other operating charges | 640/8 | €18,726 | €19,839 | +€1,112 | +5.9% |
| Gross operating margin | 9900 | €58,229 | €47,448 | -€10,781 | -18.5% |
| Operating profit (loss) | 9901 | -€10,942 | -€28,238 | -€17,296 | -158.1% |
| Financial income | 75/76B | €4,479 | €3,173 | -€1,307 | -29.2% |
| Recurring financial income | 75 | €4,479 | €3,173 | -€1,307 | -29.2% |
| Financial charges | 65/66B | €1,038 | €3,167 | +€2,129 | +205.1% |
| Recurring financial charges | 65 | €1,038 | €3,167 | +€2,129 | +205.1% |
| Profit (loss) for the period before taxes | 9903 | -€7,500 | -€28,232 | -€20,732 | -276.4% |
| Income taxes | 67/77 | - | €1 | +€1 | |
| Profit (loss) for the period | 9904 | -€7,500 | -€28,233 | -€20,733 | -276.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,500 | -€28,233 | -€20,733 | -276.4% |
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 1 October 2026 via checked.be.