VERPACT: 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.
VERPACT
Largest movements
- Cash -€149,451
down €149,451 (-84.6%), from €176,673 to €27,223
mainly Receivables after one year (-€125,000) and Net result for the year (-€99,486)
- Receivables after one year +€125,000
up €125,000 (+50.0%), from €250,000 to €375,000
- Tangible fixed assets -€46,593
down €46,593 (-9.3%), from €500,313 to €453,720
of which Land and buildings: -€51,271
- Profit (loss) carried forward -€99,486
down €99,486 (-108%), from -€91,950 to -€191,436
- Reserves -€84,000
down €84,000 (-7.3%), from €1.2m to €1.1m
of which Distributable reserves: -€84,000
- Other debts +€82,149
up €82,149 (+343%), from €23,921 to €106,070
- Tax, wage and social debts +€19,438
up €19,438 (+281%), from €6,919 to €26,357
of which Remuneration and social security: +€10,000
- Financial income -€90,632
down €90,632 (-76.4%), from €118,576 to €27,944
- Gross operating margin -€943
down €943 (-1.5%), from -€64,016 to -€64,959
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 | €1,352,264 | €1,278,413 | -€73,851 | -5.5% |
| Fixed assets | 21/28 | €500,313 | €453,720 | -€46,593 | -9.3% |
| Tangible fixed assets | 22/27 | €500,313 | €453,720 | -€46,593 | -9.3% |
| Land and buildings | 22 | €488,686 | €437,415 | -€51,271 | -10.5% |
| Plant, machinery and equipment | 23 | €7,456 | €7,066 | -€389 | -5.2% |
| Furniture and vehicles | 24 | €4,171 | €9,238 | +€5,067 | +121% |
| Current assets | 29/58 | €851,952 | €824,693 | -€27,258 | -3.2% |
| Amounts receivable after more than one year | 29 | €250,000 | €375,000 | +€125,000 | +50.0% |
| Other amounts receivable | 291 | €250,000 | €375,000 | +€125,000 | +50.0% |
| Stocks and contracts in progress | 3 | €369,371 | €369,371 | = | 0.0% |
| Stocks | 30/36 | €369,371 | €369,371 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €50,250 | €50,250 | = | 0.0% |
| Trade receivables | 40 | €30,250 | €30,250 | = | 0.0% |
| Other amounts receivable | 41 | €20,000 | €20,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €176,673 | €27,223 | -€149,451 | -84.6% |
| Deferred charges and accrued income | 490/1 | €5,658 | €2,850 | -€2,808 | -49.6% |
| Total equity and liabilities | 10/49 | €1,352,264 | €1,278,413 | -€73,851 | -5.5% |
| Equity | 10/15 | €1,313,150 | €1,129,664 | -€183,486 | -14.0% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €1,155,100 | €1,071,100 | -€84,000 | -7.3% |
| Tax-exempt reserves | 132 | €36,189 | €36,189 | = | 0.0% |
| Distributable reserves | 133 | €1,118,911 | €1,034,911 | -€84,000 | -7.5% |
| Profit (loss) carried forward | 14 | -€91,950 | -€191,436 | -€99,486 | -108% |
| Amounts payable | 17/49 | €39,114 | €148,749 | +€109,635 | +280% |
| Amounts payable within one year | 42/48 | €37,263 | €147,019 | +€109,755 | +295% |
| Trade debts | 44 | €6,423 | €14,592 | +€8,169 | +127% |
| Suppliers | 440/4 | €6,423 | €14,592 | +€8,169 | +127% |
| Taxes, remuneration and social security | 45 | €6,919 | €26,357 | +€19,438 | +281% |
| Taxes | 450/3 | €6,919 | €16,357 | +€9,438 | +136% |
| Remuneration and social security | 454/9 | - | €10,000 | +€10,000 | |
| Other amounts payable | 47/48 | €23,921 | €106,070 | +€82,149 | +343% |
| Accrued charges and deferred income | 492/3 | €1,851 | €1,730 | -€121 | -6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,849 | €53,813 | -€36 | -0.1% |
| Other operating charges | 640/8 | €4,509 | €4,407 | -€102 | -2.3% |
| Gross operating margin | 9900 | -€64,016 | -€64,959 | -€943 | -1.5% |
| Operating profit (loss) | 9901 | -€122,374 | -€123,179 | -€805 | -0.7% |
| Financial income | 75/76B | €118,576 | €27,944 | -€90,632 | -76.4% |
| Recurring financial income | 75 | €118,576 | €27,944 | -€90,632 | -76.4% |
| Financial charges | 65/66B | €4,070 | €4,251 | +€181 | +4.4% |
| Recurring financial charges | 65 | €4,070 | €4,251 | +€181 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,868 | -€99,486 | -€91,617 | -1,164% |
| Income taxes | 67/77 | -€0 | - | +€0 | |
| Profit (loss) for the period | 9904 | -€7,868 | -€99,486 | -€91,618 | -1,164% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,868 | -€99,486 | -€91,618 | -1,164% |
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 17 October 2026 via checked.be.