VERVO: 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.
VERVO
Largest movements
- Cash +€183,375
up €183,375 (+46.1%), from €397,640 to €581,015
mainly Net result for the year (+€286,466) and Receivables within one year (+€122,449)
- Receivables within one year -€122,449
down €122,449 (-13.4%), from €917,030 to €794,580
of which Trade receivables: -€99,293
- Stocks and contracts -€43,026
down €43,026 (-5.7%), from €750,156 to €707,130
of which Contracts in progress: -€142,081
- Tangible fixed assets -€33,774
down €33,774 (-3.0%), from €1.1m to €1.1m
of which Furniture and vehicles: -€37,106
- Trade debts -€145,253
down €145,253 (-44.9%), from €323,459 to €178,206
- Reserves +€101,966
up €101,966 (+5.9%), from €1.7m to €1.8m
- Debts after one year +€77,888
up €77,888 (+9.9%), from €787,447 to €865,334
- Tax, wage and social debts -€60,800
down €60,800 (-30.7%), from €198,064 to €137,264
of which Taxes: -€57,486
- Other debts -€48,538
down €48,538 (-65.1%), from €74,602 to €26,065
- Gross operating margin +€64,299
up €64,299 (+3.8%), from €1.7m to €1.8m
- Taxes +€21,878
up €21,878 (+19.0%), from €115,331 to €137,208
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 | €3,234,180 | €3,209,357 | -€24,823 | -0.8% |
| Fixed assets | 21/28 | €1,120,669 | €1,087,651 | -€33,018 | -2.9% |
| Tangible fixed assets | 22/27 | €1,119,339 | €1,085,565 | -€33,774 | -3.0% |
| Land and buildings | 22 | €869,675 | €869,784 | +€109 | 0.0% |
| Plant, machinery and equipment | 23 | €148,632 | €151,855 | +€3,224 | +2.2% |
| Furniture and vehicles | 24 | €101,033 | €63,926 | -€37,106 | -36.7% |
| Financial fixed assets | 28 | €1,330 | €2,086 | +€756 | +56.8% |
| Current assets | 29/58 | €2,113,511 | €2,121,706 | +€8,195 | +0.4% |
| Stocks and contracts in progress | 3 | €750,156 | €707,130 | -€43,026 | -5.7% |
| Stocks | 30/36 | €354,245 | €453,299 | +€99,055 | +28.0% |
| Contracts in progress | 37 | €395,911 | €253,831 | -€142,081 | -35.9% |
| Amounts receivable within one year | 40/41 | €917,030 | €794,580 | -€122,449 | -13.4% |
| Trade receivables | 40 | €834,284 | €734,991 | -€99,293 | -11.9% |
| Other amounts receivable | 41 | €82,745 | €59,589 | -€23,156 | -28.0% |
| Current investments | 50/53 | €1,037 | €1,032 | -€5 | -0.5% |
| Cash at bank and in hand | 54/58 | €397,640 | €581,015 | +€183,375 | +46.1% |
| Deferred charges and accrued income | 490/1 | €47,648 | €37,948 | -€9,700 | -20.4% |
| Total equity and liabilities | 10/49 | €3,234,180 | €3,209,357 | -€24,823 | -0.8% |
| Equity | 10/15 | €1,742,754 | €1,844,720 | +€101,966 | +5.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,724,154 | €1,826,120 | +€101,966 | +5.9% |
| Distributable reserves | 133 | €1,724,154 | €1,826,120 | +€101,966 | +5.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,491,425 | €1,364,637 | -€126,789 | -8.5% |
| Amounts payable after more than one year | 17 | €787,447 | €865,334 | +€77,888 | +9.9% |
| Financial debts | 170/4 | €787,447 | €865,334 | +€77,888 | +9.9% |
| Amounts payable within one year | 42/48 | €702,481 | €490,991 | -€211,489 | -30.1% |
| Current portion of amounts payable after more than one year | 42 | €98,692 | €94,862 | -€3,830 | -3.9% |
| Financial debts | 43 | €7,664 | €54,595 | +€46,931 | +612% |
| Credit institutions | 430/8 | €7,664 | €54,595 | +€46,931 | +612% |
| Trade debts | 44 | €323,459 | €178,206 | -€145,253 | -44.9% |
| Suppliers | 440/4 | €323,459 | €178,206 | -€145,253 | -44.9% |
| Taxes, remuneration and social security | 45 | €198,064 | €137,264 | -€60,800 | -30.7% |
| Taxes | 450/3 | €91,922 | €34,436 | -€57,486 | -62.5% |
| Remuneration and social security | 454/9 | €106,142 | €102,828 | -€3,314 | -3.1% |
| Other amounts payable | 47/48 | €74,602 | €26,065 | -€48,538 | -65.1% |
| Accrued charges and deferred income | 492/3 | €1,498 | €8,311 | +€6,813 | +455% |
| Remuneration, social security and pensions | 62 | €1,190,413 | €1,189,185 | -€1,228 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134,916 | €119,415 | -€15,501 | -11.5% |
| Other operating charges | 640/8 | €25,887 | €24,958 | -€929 | -3.6% |
| Non-recurring operating charges | 66A | €3,546 | €0 | -€3,546 | -100% |
| Gross operating margin | 9900 | €1,704,616 | €1,768,915 | +€64,299 | +3.8% |
| Operating profit (loss) | 9901 | €349,854 | €435,357 | +€85,503 | +24.4% |
| Financial income | 75/76B | €36,988 | €37,970 | +€981 | +2.7% |
| Recurring financial income | 75 | €36,988 | €37,970 | +€981 | +2.7% |
| Financial charges | 65/66B | €34,462 | €49,653 | +€15,191 | +44.1% |
| Recurring financial charges | 65 | €34,462 | €49,653 | +€15,191 | +44.1% |
| Profit (loss) for the period before taxes | 9903 | €352,381 | €423,674 | +€71,294 | +20.2% |
| Income taxes | 67/77 | €115,331 | €137,208 | +€21,878 | +19.0% |
| Profit (loss) for the period | 9904 | €237,050 | €286,466 | +€49,416 | +20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €237,050 | €286,466 | +€49,416 | +20.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.