VERPOL: 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.
VERPOL
Largest movements
- Receivables within one year -€20,401
down €20,401 (-26.1%), from €78,021 to €57,619
of which Other amounts receivable: -€34,654
- Tangible fixed assets -€14,278
down €14,278 (-13.6%), from €104,601 to €90,323
of which Leasing and similar rights: -€8,256
- Cash +€13,000
up €13,000 (+8.5%), from €153,265 to €166,264
mainly Net result for the year (+€39,225) and Depreciation (+€33,816)
- Stocks and contracts +€6,505
up €6,505 (+9.0%), from €72,010 to €78,515
- Reserves +€29,225
up €29,225 (+9.3%), from €313,311 to €342,536
of which Distributable reserves: +€29,225
- Other debts -€24,963
down €24,963 (-68.6%), from €36,389 to €11,426
- Debts after one year -€8,637
down €8,637 (-59.3%), from €14,564 to €5,927
- Trade debts -€4,829
down €4,829 (-38.2%), from €12,624 to €7,796
- Other operating charges -€11,777
down €11,777 (-79.7%), from €14,770 to €2,992
- Write-downs +€10,860
up €10,860, from -€10,860 to €0
- Depreciation +€9,658
up €9,658 (+40.0%), from €24,158 to €33,816
- Gross operating margin -€4,972
down €4,972 (-5.2%), from €95,530 to €90,558
- Taxes -€3,776
down €3,776 (-20.6%), from €18,287 to €14,511
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 | €414,129 | €401,900 | -€12,229 | -3.0% |
| Fixed assets | 21/28 | €105,301 | €91,023 | -€14,278 | -13.6% |
| Tangible fixed assets | 22/27 | €104,601 | €90,323 | -€14,278 | -13.6% |
| Land and buildings | 22 | €6,783 | €5,469 | -€1,314 | -19.4% |
| Plant, machinery and equipment | 23 | €11,915 | €13,328 | +€1,413 | +11.9% |
| Furniture and vehicles | 24 | €63,760 | €57,638 | -€6,121 | -9.6% |
| Leasing and similar rights | 25 | €22,144 | €13,888 | -€8,256 | -37.3% |
| Financial fixed assets | 28 | €700 | €700 | = | 0.0% |
| Current assets | 29/58 | €308,827 | €310,876 | +€2,049 | +0.7% |
| Stocks and contracts in progress | 3 | €72,010 | €78,515 | +€6,505 | +9.0% |
| Stocks | 30/36 | €72,010 | €78,515 | +€6,505 | +9.0% |
| Amounts receivable within one year | 40/41 | €78,021 | €57,619 | -€20,401 | -26.1% |
| Trade receivables | 40 | €31,462 | €45,715 | +€14,253 | +45.3% |
| Other amounts receivable | 41 | €46,558 | €11,904 | -€34,654 | -74.4% |
| Cash at bank and in hand | 54/58 | €153,265 | €166,264 | +€13,000 | +8.5% |
| Deferred charges and accrued income | 490/1 | €5,532 | €8,477 | +€2,945 | +53.2% |
| Total equity and liabilities | 10/49 | €414,129 | €401,900 | -€12,229 | -3.0% |
| Equity | 10/15 | €331,861 | €361,086 | +€29,225 | +8.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €313,311 | €342,536 | +€29,225 | +9.3% |
| Tax-exempt reserves | 132 | €7,796 | €7,796 | = | 0.0% |
| Distributable reserves | 133 | €305,515 | €334,740 | +€29,225 | +9.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €82,268 | €40,814 | -€41,454 | -50.4% |
| Amounts payable after more than one year | 17 | €14,564 | €5,927 | -€8,637 | -59.3% |
| Financial debts | 170/4 | €14,564 | €5,927 | -€8,637 | -59.3% |
| Amounts payable within one year | 42/48 | €66,822 | €34,887 | -€31,935 | -47.8% |
| Current portion of amounts payable after more than one year | 42 | €8,875 | €8,637 | -€238 | -2.7% |
| Trade debts | 44 | €12,624 | €7,796 | -€4,829 | -38.2% |
| Suppliers | 440/4 | €12,624 | €7,796 | -€4,829 | -38.2% |
| Taxes, remuneration and social security | 45 | €8,934 | €7,029 | -€1,906 | -21.3% |
| Taxes | 450/3 | €6,084 | €6,179 | +€94 | +1.6% |
| Remuneration and social security | 454/9 | €2,850 | €850 | -€2,000 | -70.2% |
| Other amounts payable | 47/48 | €36,389 | €11,426 | -€24,963 | -68.6% |
| Accrued charges and deferred income | 492/3 | €881 | €0 | -€881 | -100% |
| Non-recurring operating income | 76A | €3,322 | €0 | -€3,322 | -100% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,158 | €33,816 | +€9,658 | +40.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€10,860 | €0 | +€10,860 | |
| Other operating charges | 640/8 | €14,770 | €2,992 | -€11,777 | -79.7% |
| Gross operating margin | 9900 | €95,530 | €90,558 | -€4,972 | -5.2% |
| Operating profit (loss) | 9901 | €67,462 | €53,749 | -€13,713 | -20.3% |
| Financial income | 75/76B | €1,152 | €913 | -€238 | -20.7% |
| Recurring financial income | 75 | €1,152 | €913 | -€238 | -20.7% |
| Financial charges | 65/66B | €1,270 | €927 | -€342 | -27.0% |
| Recurring financial charges | 65 | €1,270 | €927 | -€342 | -27.0% |
| Profit (loss) for the period before taxes | 9903 | €67,344 | €53,735 | -€13,609 | -20.2% |
| Income taxes | 67/77 | €18,287 | €14,511 | -€3,776 | -20.6% |
| Profit (loss) for the period | 9904 | €49,057 | €39,225 | -€9,833 | -20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €49,057 | €39,225 | -€9,833 | -20.0% |
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.