VERPOLA: 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.
VERPOLA
Largest movements
- Cash -€325,605
down €325,605 (-51.5%), from €632,528 to €306,923
mainly Debts after one year (-€373,375) and Receivables within one year (-€202,313)
- Receivables within one year +€202,313
up €202,313 (+63.3%), from €319,464 to €521,778
of which Trade receivables: +€223,899
- Tangible fixed assets -€179,955
down €179,955 (-22.9%), from €786,695 to €606,740
of which Furniture and vehicles: -€185,480
- Debts after one year -€373,375
down €373,375 (-8.7%), from €4.3m to €3.9m
- Gross operating margin -€353,032
down €353,032 (-28.7%), from €1.2m to €877,066
- Staff costs +€177,976
up €177,976 (+42.1%), from €422,374 to €600,350
- Taxes -€123,803
down €123,803 (-99.5%), from €124,469 to €666
- Other operating charges +€19,503
up €19,503 (+31.9%), from €61,070 to €80,574
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 | €6,989,727 | €6,703,433 | -€286,294 | -4.1% |
| Fixed assets | 21/28 | €5,789,919 | €5,615,020 | -€174,900 | -3.0% |
| Intangible fixed assets | 21 | €3,199 | €8,255 | +€5,055 | +158% |
| Tangible fixed assets | 22/27 | €786,695 | €606,740 | -€179,955 | -22.9% |
| Land and buildings | 22 | €337,069 | €354,192 | +€17,122 | +5.1% |
| Plant, machinery and equipment | 23 | €19,921 | €8,323 | -€11,598 | -58.2% |
| Furniture and vehicles | 24 | €429,705 | €244,225 | -€185,480 | -43.2% |
| Financial fixed assets | 28 | €5,000,025 | €5,000,025 | = | 0.0% |
| Current assets | 29/58 | €1,199,807 | €1,088,413 | -€111,394 | -9.3% |
| Stocks and contracts in progress | 3 | €210,160 | €242,082 | +€31,922 | +15.2% |
| Stocks | 30/36 | €210,160 | €242,082 | +€31,922 | +15.2% |
| Amounts receivable within one year | 40/41 | €319,464 | €521,778 | +€202,313 | +63.3% |
| Trade receivables | 40 | €286,459 | €510,358 | +€223,899 | +78.2% |
| Other amounts receivable | 41 | €33,006 | €11,420 | -€21,586 | -65.4% |
| Cash at bank and in hand | 54/58 | €632,528 | €306,923 | -€325,605 | -51.5% |
| Deferred charges and accrued income | 490/1 | €37,656 | €17,630 | -€20,025 | -53.2% |
| Total equity and liabilities | 10/49 | €6,989,727 | €6,703,433 | -€286,294 | -4.1% |
| Equity | 10/15 | €2,106,474 | €2,077,917 | -€28,557 | -1.4% |
| Contributions | 10/11 | €61,520 | €61,520 | = | 0.0% |
| Reserves | 13 | €2,044,954 | €2,016,397 | -€28,557 | -1.4% |
| Tax-exempt reserves | 132 | €116,190 | €116,190 | = | 0.0% |
| Distributable reserves | 133 | €1,928,764 | €1,900,207 | -€28,557 | -1.5% |
| Amounts payable | 17/49 | €4,883,253 | €4,625,516 | -€257,737 | -5.3% |
| Amounts payable after more than one year | 17 | €4,298,264 | €3,924,889 | -€373,375 | -8.7% |
| Financial debts | 170/4 | €4,298,264 | €3,924,889 | -€373,375 | -8.7% |
| Amounts payable within one year | 42/48 | €576,594 | €665,800 | +€89,205 | +15.5% |
| Current portion of amounts payable after more than one year | 42 | €393,907 | €404,062 | +€10,155 | +2.6% |
| Trade debts | 44 | €101,643 | €164,807 | +€63,164 | +62.1% |
| Suppliers | 440/4 | €101,643 | €164,807 | +€63,164 | +62.1% |
| Taxes, remuneration and social security | 45 | €70,689 | €71,549 | +€860 | +1.2% |
| Taxes | 450/3 | €33,997 | €19,601 | -€14,396 | -42.3% |
| Remuneration and social security | 454/9 | €36,693 | €51,948 | +€15,256 | +41.6% |
| Other amounts payable | 47/48 | €10,355 | €25,381 | +€15,026 | +145% |
| Accrued charges and deferred income | 492/3 | €8,395 | €34,827 | +€26,432 | +315% |
| Non-recurring operating income | 76A | - | €397 | +€397 | |
| Remuneration, social security and pensions | 62 | €422,374 | €600,350 | +€177,976 | +42.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,356 | €117,767 | -€6,588 | -5.3% |
| Other operating charges | 640/8 | €61,070 | €80,574 | +€19,503 | +31.9% |
| Gross operating margin | 9900 | €1,230,098 | €877,066 | -€353,032 | -28.7% |
| Operating profit (loss) | 9901 | €622,298 | €78,375 | -€543,923 | -87.4% |
| Financial income | 75/76B | €12,294 | €9,390 | -€2,904 | -23.6% |
| Recurring financial income | 75 | €12,294 | €9,390 | -€2,904 | -23.6% |
| Financial charges | 65/66B | €117,508 | €115,656 | -€1,852 | -1.6% |
| Recurring financial charges | 65 | €117,508 | €115,656 | -€1,852 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €517,083 | -€27,891 | -€544,974 | |
| Income taxes | 67/77 | €124,469 | €666 | -€123,803 | -99.5% |
| Profit (loss) for the period | 9904 | €392,614 | -€28,557 | -€421,171 | |
| Profit (loss) for the period to be appropriated | 9905 | €392,614 | -€28,557 | -€421,171 |
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 15 October 2026 via checked.be.