VERVE: 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.
VERVE
Largest movements
- Receivables within one year -€157,584
down €157,584 (-93.6%), from €168,337 to €10,752
of which Trade receivables: -€102,819
- Tangible fixed assets -€20,900
down €20,900 (-13.9%), from €150,185 to €129,286
of which Furniture and vehicles: -€19,176
- Trade debts -€111,285
down €111,285 (-65.7%), from €169,353 to €58,068
- Advances received -€69,500
down €69,500 (-100.0%), from €69,500 to €0
- Other debts -€23,133
down €23,133 (-93.1%), from €24,854 to €1,721
- Reserves +€19,901
up €19,901 (+44.4%), from €44,789 to €64,691
of which Distributable reserves: +€17,112
- Tax, wage and social debts +€18,727
up €18,727 (+2981.0%), from €628 to €19,355
- Gross operating margin +€34,944
up €34,944 (+100.0%), from €34,957 to €69,901
- Taxes +€16,096
up €16,096 (+1609.6%), from €1,000 to €17,096
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €354,965 | €172,701 | -€182,264 | -51.3% |
| Fixed assets | 21/28 | €150,185 | €129,286 | -€20,900 | -13.9% |
| Tangible fixed assets | 22/27 | €150,185 | €129,286 | -€20,900 | -13.9% |
| Plant, machinery and equipment | 23 | €6,011 | €4,287 | -€1,724 | -28.7% |
| Furniture and vehicles | 24 | €144,175 | €124,999 | -€19,176 | -13.3% |
| Current assets | 29/58 | €204,780 | €43,415 | -€161,365 | -78.8% |
| Stocks and contracts in progress | 3 | €13,124 | €10,879 | -€2,245 | -17.1% |
| Stocks | 30/36 | €13,124 | €10,879 | -€2,245 | -17.1% |
| Amounts receivable within one year | 40/41 | €168,337 | €10,752 | -€157,584 | -93.6% |
| Trade receivables | 40 | €113,361 | €10,542 | -€102,819 | -90.7% |
| Other amounts receivable | 41 | €54,976 | €211 | -€54,765 | -99.6% |
| Cash at bank and in hand | 54/58 | €20,148 | €18,475 | -€1,673 | -8.3% |
| Deferred charges and accrued income | 490/1 | €3,171 | €3,309 | +€138 | +4.3% |
| Total equity and liabilities | 10/49 | €354,965 | €172,701 | -€182,264 | -51.3% |
| Equity | 10/15 | €63,389 | €83,291 | +€19,901 | +31.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €44,789 | €64,691 | +€19,901 | +44.4% |
| Non-distributable reserves | 130/1 | - | €2,789 | +€2,789 | |
| Other | 1319 | - | €2,789 | +€2,789 | |
| Distributable reserves | 133 | €44,789 | €61,901 | +€17,112 | +38.2% |
| Amounts payable | 17/49 | €291,576 | €89,410 | -€202,165 | -69.3% |
| Amounts payable after more than one year | 17 | €10,266 | €10,266 | = | 0.0% |
| Financial debts | 170/4 | €10,266 | €10,266 | = | 0.0% |
| Amounts payable within one year | 42/48 | €281,310 | €79,145 | -€202,165 | -71.9% |
| Current portion of amounts payable after more than one year | 42 | €16,975 | €0 | -€16,975 | -100.0% |
| Trade debts | 44 | €169,353 | €58,068 | -€111,285 | -65.7% |
| Suppliers | 440/4 | €169,353 | €58,068 | -€111,285 | -65.7% |
| Advances received on contracts in progress | 46 | €69,500 | €0 | -€69,500 | -100.0% |
| Taxes, remuneration and social security | 45 | €628 | €19,355 | +€18,727 | +2981.0% |
| Taxes | 450/3 | €628 | €19,355 | +€18,727 | +2981.0% |
| Other amounts payable | 47/48 | €24,854 | €1,721 | -€23,133 | -93.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,833 | €20,900 | +€66 | +0.3% |
| Other operating charges | 640/8 | €1,135 | €653 | -€482 | -42.5% |
| Gross operating margin | 9900 | €34,957 | €69,901 | +€34,944 | +100.0% |
| Operating profit (loss) | 9901 | €12,989 | €48,349 | +€35,360 | +272.2% |
| Financial income | 75/76B | €602 | €554 | -€49 | -8.1% |
| Recurring financial income | 75 | €602 | €554 | -€49 | -8.1% |
| Financial charges | 65/66B | €12,268 | €11,906 | -€362 | -3.0% |
| Recurring financial charges | 65 | €12,268 | €11,906 | -€362 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €1,324 | €36,997 | +€35,673 | +2695.3% |
| Income taxes | 67/77 | €1,000 | €17,096 | +€16,096 | +1609.6% |
| Profit (loss) for the period | 9904 | €324 | €19,901 | +€19,578 | +6051.3% |
| Profit (loss) for the period to be appropriated | 9905 | €324 | €19,901 | +€19,578 | +6051.3% |
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 30 September 2026 via checked.be.