VERPO: 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.
What changed
VERPO
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€708,987
2024 · €283,009+€425,978
Equity
€22.3m
2024 · €22.2m+€108,987
Cash
€60,249
2024 · €56,538+€3,710
Balance sheet total
€36.1m
2024 · €37.1m-€945,010
Largest movements
Assets
- Tangible fixed assets -€1.4m
down €1.4m (-3.9%), from €36.5m to €35.1m
of which Land and buildings: -€1.4m
Equity and liabilities
- Debts after one year -€1.6m
down €1.6m (-12.2%), from €13.2m to €11.6m
- Reserves +€657,387
up €657,387 (+29.6%), from €2.2m to €2.9m
of which Distributable reserves: +€712,413
- Contributions -€548,400
down €548,400 (-2.7%), from €20.0m to €19.4m
- Other debts +€512,734
up €512,734 (+312.7%), from €163,974 to €676,708
Income statement
- Gross operating margin +€757,611
up €757,611 (+48.1%), from €1.6m to €2.3m
- Depreciation +€337,457
up €337,457 (+38.6%), from €874,761 to €1.2m
- Financial income +€134,530
up €134,530 (+187.8%), from €71,635 to €206,166
- Taxes +€81,000
up €81,000 (+8103.5%), from €1,000 to €82,000
- Financial charges +€42,098
up €42,098 (+9.7%), from €433,670 to €475,768
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.
Result 2024
€283,009
Gross operating margin
+€757,611
Depreciation
-€337,457
Other operating charges
-€5,609
Financial income
+€134,530
Financial charges
-€42,098
Taxes
-€81,000
Result 2025
€708,987
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.
From operations
+€2.0m
Investment
+€195,599
Financing
-€2.2m
Cash 2024
€56,538
From operations (derived)
+€2.0m
Net result for the year
+€708,987
Depreciation
+€1.2m
Stocks and contracts
-€229,650
Receivables within one year
-€229,660
Deferred charges and accrued income
+€214
Provisions
-€18,342
Trade debts
-€70,086
Tax, wage and social debts
+€82,502
Other debts
+€512,734
Accrued charges and deferred income
+€55,903
Investment (derived)
+€195,599
Investment in fixed assets (net)
+€195,599
Financing
-€2.2m
Debts after one year
-€1.6m
Current portion of long-term debt
-€16,101
Contributions, distributions and other
-€600,000
Cash 2025
€60,249
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €37,088,217 | €36,143,207 | -€945,010 | -2.5% |
| Fixed assets | 21/28 | €36,782,064 | €35,374,248 | -€1.4m | -3.8% |
| Tangible fixed assets | 22/27 | €36,497,958 | €35,090,142 | -€1.4m | -3.9% |
| Land and buildings | 22 | €36,316,928 | €34,955,157 | -€1.4m | -3.7% |
| Plant, machinery and equipment | 23 | €4,435 | €7,183 | +€2,749 | +62.0% |
| Furniture and vehicles | 24 | €176,595 | €127,802 | -€48,793 | -27.6% |
| Financial fixed assets | 28 | €284,106 | €284,106 | = | 0.0% |
| Current assets | 29/58 | €306,153 | €768,959 | +€462,806 | +151.2% |
| Stocks and contracts in progress | 3 | €222,745 | €452,395 | +€229,650 | +103.1% |
| Stocks | 30/36 | €222,745 | €452,395 | +€229,650 | +103.1% |
| Amounts receivable within one year | 40/41 | €18,507 | €248,167 | +€229,660 | +1240.9% |
| Trade receivables | 40 | €10,207 | €8,139 | -€2,068 | -20.3% |
| Other amounts receivable | 41 | €8,300 | €240,028 | +€231,728 | +2791.8% |
| Cash at bank and in hand | 54/58 | €56,538 | €60,249 | +€3,710 | +6.6% |
| Deferred charges and accrued income | 490/1 | €8,363 | €8,149 | -€214 | -2.6% |
| Total equity and liabilities | 10/49 | €37,088,217 | €36,143,207 | -€945,010 | -2.5% |
| Equity | 10/15 | €22,189,589 | €22,298,575 | +€108,987 | +0.5% |
| Contributions | 10/11 | €19,970,595 | €19,422,195 | -€548,400 | -2.7% |
| Reserves | 13 | €2,218,993 | €2,876,380 | +€657,387 | +29.6% |
| Tax-exempt reserves | 132 | €803,019 | €747,992 | -€55,027 | -6.9% |
| Distributable reserves | 133 | €1,415,974 | €2,128,387 | +€712,413 | +50.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €267,673 | €249,331 | -€18,342 | -6.9% |
| Deferred taxes | 168 | €267,673 | €249,331 | -€18,342 | -6.9% |
| Amounts payable | 17/49 | €14,630,955 | €13,595,301 | -€1.0m | -7.1% |
| Amounts payable after more than one year | 17 | €13,171,986 | €11,571,380 | -€1.6m | -12.2% |
| Financial debts | 170/4 | €13,171,986 | €11,571,380 | -€1.6m | -12.2% |
| Amounts payable within one year | 42/48 | €1,429,872 | €1,938,922 | +€509,049 | +35.6% |
| Current portion of amounts payable after more than one year | 42 | €1,182,680 | €1,166,579 | -€16,101 | -1.4% |
| Trade debts | 44 | €81,899 | €11,813 | -€70,086 | -85.6% |
| Suppliers | 440/4 | €81,899 | €11,813 | -€70,086 | -85.6% |
| Taxes, remuneration and social security | 45 | €1,320 | €83,822 | +€82,502 | +6250.4% |
| Taxes | 450/3 | €1,320 | €82,000 | +€80,680 | +6112.3% |
| Remuneration and social security | 454/9 | €0 | €1,822 | +€1,822 | |
| Other amounts payable | 47/48 | €163,974 | €676,708 | +€512,734 | +312.7% |
| Accrued charges and deferred income | 492/3 | €29,097 | €85,000 | +€55,903 | +192.1% |
| Non-recurring operating income | 76A | €0 | €704,719 | +€704,719 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €874,761 | €1,212,217 | +€337,457 | +38.6% |
| Other operating charges | 640/8 | €72,467 | €78,076 | +€5,609 | +7.7% |
| Gross operating margin | 9900 | €1,574,928 | €2,332,539 | +€757,611 | +48.1% |
| Operating profit (loss) | 9901 | €627,701 | €1,042,246 | +€414,546 | +66.0% |
| Financial income | 75/76B | €71,635 | €206,166 | +€134,530 | +187.8% |
| Recurring financial income | 75 | €71,635 | €206,166 | +€134,530 | +187.8% |
| Financial charges | 65/66B | €433,670 | €475,768 | +€42,098 | +9.7% |
| Recurring financial charges | 65 | €433,670 | €475,768 | +€42,098 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €265,666 | €772,644 | +€506,978 | +190.8% |
| Transfer from deferred taxes | 780 | €18,342 | €18,342 | = | 0.0% |
| Income taxes | 67/77 | €1,000 | €82,000 | +€81,000 | +8103.5% |
| Profit (loss) for the period | 9904 | €283,009 | €708,987 | +€425,978 | +150.5% |
| Transfer from tax-exempt reserves | 789 | €55,027 | €55,027 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €338,035 | €764,013 | +€425,978 | +126.0% |
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 6 October 2026 via checked.be.