VEROUG: 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.
VEROUG
Largest movements
- Receivables within one year -€167,607
down €167,607 (-52.2%), from €320,896 to €153,289
of which Other amounts receivable: -€164,141
- Cash +€106,067
up €106,067 (+27.6%), from €384,777 to €490,844
mainly Net result for the year (+€547,705) and Other debts (+€311,192)
- Deferred charges and accrued income -€61,896
down €61,896 (-63.9%), from €96,808 to €34,913
- Current investments -€52,733
down €52,733 (-10.8%), from €489,280 to €436,547
- Tangible fixed assets +€28,717
up €28,717 (+70.2%), from €40,884 to €69,601
of which Furniture and vehicles: +€21,802
- Reserves -€475,091
down €475,091 (-60.9%), from €780,071 to €304,980
of which Distributable reserves: -€475,091
- Other debts +€311,192
up €311,192 (+61.0%), from €510,480 to €821,672
- Gross operating margin +€69,422
up €69,422 (+10.1%), from €685,753 to €755,175
- Taxes +€24,625
up €24,625 (+15.2%), from €162,131 to €186,756
- Depreciation -€24,076
down €24,076 (-51.4%), from €46,828 to €22,752
- Other operating charges +€21,110
up €21,110 (+1201.9%), from €1,756 to €22,866
- Financial charges +€16,339
up €16,339 (+223.0%), from €7,327 to €23,666
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,336,542 | €1,185,193 | -€151,349 | -11.3% |
| Fixed assets | 21/28 | €44,780 | €69,601 | +€24,820 | +55.4% |
| Intangible fixed assets | 21 | €3,897 | - | -€3,897 | |
| Tangible fixed assets | 22/27 | €40,884 | €69,601 | +€28,717 | +70.2% |
| Plant, machinery and equipment | 23 | - | €2,045 | +€2,045 | |
| Furniture and vehicles | 24 | €30,933 | €52,735 | +€21,802 | +70.5% |
| Other tangible fixed assets | 26 | €9,950 | €14,820 | +€4,870 | +48.9% |
| Current assets | 29/58 | €1,291,761 | €1,115,593 | -€176,169 | -13.6% |
| Amounts receivable within one year | 40/41 | €320,896 | €153,289 | -€167,607 | -52.2% |
| Trade receivables | 40 | €3,466 | - | -€3,466 | |
| Other amounts receivable | 41 | €317,430 | €153,289 | -€164,141 | -51.7% |
| Current investments | 50/53 | €489,280 | €436,547 | -€52,733 | -10.8% |
| Cash at bank and in hand | 54/58 | €384,777 | €490,844 | +€106,067 | +27.6% |
| Deferred charges and accrued income | 490/1 | €96,808 | €34,913 | -€61,896 | -63.9% |
| Total equity and liabilities | 10/49 | €1,336,542 | €1,185,193 | -€151,349 | -11.3% |
| Equity | 10/15 | €798,671 | €323,580 | -€475,091 | -59.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €780,071 | €304,980 | -€475,091 | -60.9% |
| Tax-exempt reserves | 132 | €303,120 | €303,120 | = | 0.0% |
| Distributable reserves | 133 | €476,951 | €1,860 | -€475,091 | -99.6% |
| Amounts payable | 17/49 | €537,871 | €861,613 | +€323,742 | +60.2% |
| Amounts payable within one year | 42/48 | €537,871 | €861,613 | +€323,742 | +60.2% |
| Trade debts | 44 | - | €3,201 | +€3,201 | |
| Suppliers | 440/4 | - | €3,201 | +€3,201 | |
| Taxes, remuneration and social security | 45 | €27,391 | €36,740 | +€9,349 | +34.1% |
| Taxes | 450/3 | €24,014 | €36,740 | +€12,725 | +53.0% |
| Remuneration and social security | 454/9 | €3,376 | - | -€3,376 | |
| Other amounts payable | 47/48 | €510,480 | €821,672 | +€311,192 | +61.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,828 | €22,752 | -€24,076 | -51.4% |
| Other operating charges | 640/8 | €1,756 | €22,866 | +€21,110 | +1201.9% |
| Gross operating margin | 9900 | €685,753 | €755,175 | +€69,422 | +10.1% |
| Operating profit (loss) | 9901 | €637,169 | €709,556 | +€72,388 | +11.4% |
| Financial income | 75/76B | €32,560 | €48,570 | +€16,010 | +49.2% |
| Recurring financial income | 75 | €32,560 | €48,570 | +€16,010 | +49.2% |
| Financial charges | 65/66B | €7,327 | €23,666 | +€16,339 | +223.0% |
| Recurring financial charges | 65 | €7,327 | €23,666 | +€16,339 | +223.0% |
| Profit (loss) for the period before taxes | 9903 | €662,402 | €734,461 | +€72,059 | +10.9% |
| Income taxes | 67/77 | €162,131 | €186,756 | +€24,625 | +15.2% |
| Profit (loss) for the period | 9904 | €500,271 | €547,705 | +€47,434 | +9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €500,271 | €547,705 | +€47,434 | +9.5% |
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.