VERWEBO: what changed
VERWEBO
Largest movements
- Receivables within one year +€129,460
up €129,460 (+10.6%), from €1.2m to €1.4m
of which Trade receivables: +€100,173
- Cash -€127,752
down €127,752 (-38.7%), from €330,037 to €202,286
mainly Receivables within one year (-€129,460) and Net result for the year (-€81,459)
- Tangible fixed assets -€91,494
down €91,494 (-14.9%), from €613,168 to €521,674
of which Leasing and similar rights: -€67,728
- Trade debts +€156,040
up €156,040 (+19.6%), from €796,158 to €952,198
- Profit (loss) carried forward -€81,459
new in 2025: -€81,459
- Debts after one year -€77,892
down €77,892 (-23.8%), from €327,569 to €249,677
- Accrued charges and deferred income -€73,061
down €73,061 (-85.9%), from €85,051 to €11,990
- Tax, wage and social debts -€28,158
down €28,158 (-68.0%), from €41,421 to €13,263
of which Remuneration and social security: -€27,919
- Gross operating margin -€182,023
down €182,023 (-21.5%), from €847,424 to €665,401
- Staff costs -€87,477
down €87,477 (-13.4%), from €651,625 to €564,148
- Depreciation +€57,330
up €57,330 (+54.8%), from €104,609 to €161,939
- Financial charges -€14,174
down €14,174 (-30.1%), from €47,162 to €32,988
- Taxes -€8,807
down €8,807 (-100%), from €8,807 to €0
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,337,838 | €2,253,411 | -€84,427 | -3.6% |
| Fixed assets | 21/28 | €644,188 | €552,694 | -€91,494 | -14.2% |
| Tangible fixed assets | 22/27 | €613,168 | €521,674 | -€91,494 | -14.9% |
| Land and buildings | 22 | €1,684 | €1,380 | -€304 | -18.1% |
| Plant, machinery and equipment | 23 | €123,773 | €100,781 | -€22,992 | -18.6% |
| Furniture and vehicles | 24 | €13,787 | €13,317 | -€470 | -3.4% |
| Leasing and similar rights | 25 | €473,925 | €406,197 | -€67,728 | -14.3% |
| Financial fixed assets | 28 | €31,020 | €31,020 | = | 0.0% |
| Current assets | 29/58 | €1,693,649 | €1,700,716 | +€7,067 | +0.4% |
| Stocks and contracts in progress | 3 | €124,815 | €123,093 | -€1,722 | -1.4% |
| Stocks | 30/36 | €76,599 | €81,314 | +€4,716 | +6.2% |
| Contracts in progress | 37 | €48,216 | €41,779 | -€6,438 | -13.4% |
| Amounts receivable within one year | 40/41 | €1,226,651 | €1,356,111 | +€129,460 | +10.6% |
| Trade receivables | 40 | €923,868 | €1,024,041 | +€100,173 | +10.8% |
| Other amounts receivable | 41 | €302,783 | €332,070 | +€29,287 | +9.7% |
| Cash at bank and in hand | 54/58 | €330,037 | €202,286 | -€127,752 | -38.7% |
| Deferred charges and accrued income | 490/1 | €12,145 | €19,227 | +€7,081 | +58.3% |
| Total equity and liabilities | 10/49 | €2,337,838 | €2,253,411 | -€84,427 | -3.6% |
| Equity | 10/15 | €693,830 | €612,372 | -€81,459 | -11.7% |
| Contributions | 10/11 | €158,000 | €158,000 | = | 0.0% |
| Reserves | 13 | €535,830 | €535,830 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €535,830 | €535,830 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€81,459 | -€81,459 | |
| Amounts payable | 17/49 | €1,644,007 | €1,641,039 | -€2,969 | -0.2% |
| Amounts payable after more than one year | 17 | €327,569 | €249,677 | -€77,892 | -23.8% |
| Financial debts | 170/4 | €327,569 | €249,677 | -€77,892 | -23.8% |
| Amounts payable within one year | 42/48 | €1,231,387 | €1,379,372 | +€147,985 | +12.0% |
| Current portion of amounts payable after more than one year | 42 | €118,758 | €138,861 | +€20,102 | +16.9% |
| Financial debts | 43 | €275,000 | €275,000 | = | 0.0% |
| Credit institutions | 430/8 | €275,000 | €275,000 | = | 0.0% |
| Trade debts | 44 | €796,158 | €952,198 | +€156,040 | +19.6% |
| Suppliers | 440/4 | €796,158 | €952,198 | +€156,040 | +19.6% |
| Taxes, remuneration and social security | 45 | €41,421 | €13,263 | -€28,158 | -68.0% |
| Taxes | 450/3 | €917 | €678 | -€239 | -26.1% |
| Remuneration and social security | 454/9 | €40,504 | €12,585 | -€27,919 | -68.9% |
| Other amounts payable | 47/48 | €50 | €50 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €85,051 | €11,990 | -€73,061 | -85.9% |
| Non-recurring operating income | 76A | €20,137 | €3,500 | -€16,637 | -82.6% |
| Remuneration, social security and pensions | 62 | €651,625 | €564,148 | -€87,477 | -13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,609 | €161,939 | +€57,330 | +54.8% |
| Other operating charges | 640/8 | €3,756 | €3,495 | -€261 | -7.0% |
| Gross operating margin | 9900 | €847,424 | €665,401 | -€182,023 | -21.5% |
| Operating profit (loss) | 9901 | €87,433 | -€64,181 | -€151,615 | |
| Financial income | 75/76B | €16,707 | €15,711 | -€996 | -6.0% |
| Recurring financial income | 75 | €16,707 | €15,711 | -€996 | -6.0% |
| Financial charges | 65/66B | €47,162 | €32,988 | -€14,174 | -30.1% |
| Recurring financial charges | 65 | €47,162 | €32,988 | -€14,174 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | €56,978 | -€81,459 | -€138,436 | |
| Income taxes | 67/77 | €8,807 | €0 | -€8,807 | -100% |
| Profit (loss) for the period | 9904 | €48,171 | -€81,459 | -€129,629 | |
| Profit (loss) for the period to be appropriated | 9905 | €48,171 | -€81,459 | -€129,629 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.