VERWEE Projects: 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.
VERWEE Projects
Largest movements
- Cash +€44,430
up €44,430 (+58.4%), from €76,033 to €120,464
mainly Net result for the year (+€27,343) and Trade debts (+€18,240)
- Receivables within one year -€8,150
down €8,150 (-13.4%), from €60,852 to €52,702
of which Other amounts receivable: -€5,620
- Reserves +€27,343
up €27,343 (+12.2%), from €223,596 to €250,940
of which Distributable reserves: +€27,343
- Trade debts +€18,240
up €18,240 (+472.1%), from €3,864 to €22,104
- Tax, wage and social debts -€11,223
down €11,223 (-25.1%), from €44,667 to €33,443
- Gross operating margin -€23,873
down €23,873 (-30.9%), from €77,316 to €53,443
- Financial charges +€8,084
up €8,084 (+487.1%), from €1,659 to €9,743
- Taxes -€6,045
down €6,045 (-39.4%), from €15,349 to €9,304
- Depreciation +€2,477
up €2,477 (+68.8%), from €3,598 to €6,075
- Other operating charges +€1,510
up €1,510 (+343.9%), from €439 to €1,949
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 | €275,126 | €310,236 | +€35,110 | +12.8% |
| Fixed assets | 21/28 | €37,735 | €36,310 | -€1,424 | -3.8% |
| Tangible fixed assets | 22/27 | €37,735 | €36,310 | -€1,424 | -3.8% |
| Furniture and vehicles | 24 | €1,848 | €4,224 | +€2,376 | +128.5% |
| Other tangible fixed assets | 26 | €35,887 | €32,087 | -€3,800 | -10.6% |
| Current assets | 29/58 | €237,392 | €273,926 | +€36,534 | +15.4% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €60,852 | €52,702 | -€8,150 | -13.4% |
| Trade receivables | 40 | €39,272 | €36,743 | -€2,530 | -6.4% |
| Other amounts receivable | 41 | €21,579 | €15,959 | -€5,620 | -26.0% |
| Cash at bank and in hand | 54/58 | €76,033 | €120,464 | +€44,430 | +58.4% |
| Deferred charges and accrued income | 490/1 | €507 | €760 | +€254 | +50.1% |
| Total equity and liabilities | 10/49 | €275,126 | €310,236 | +€35,110 | +12.8% |
| Equity | 10/15 | €226,596 | €253,940 | +€27,343 | +12.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €223,596 | €250,940 | +€27,343 | +12.2% |
| Non-distributable reserves | 130/1 | €300 | €300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €300 | €300 | = | 0.0% |
| Distributable reserves | 133 | €223,296 | €250,640 | +€27,343 | +12.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €48,530 | €56,297 | +€7,767 | +16.0% |
| Amounts payable within one year | 42/48 | €48,530 | €55,547 | +€7,017 | +14.5% |
| Trade debts | 44 | €3,864 | €22,104 | +€18,240 | +472.1% |
| Suppliers | 440/4 | €3,864 | €22,104 | +€18,240 | +472.1% |
| Taxes, remuneration and social security | 45 | €44,667 | €33,443 | -€11,223 | -25.1% |
| Taxes | 450/3 | €44,667 | €33,443 | -€11,223 | -25.1% |
| Accrued charges and deferred income | 492/3 | - | €750 | +€750 | |
| Non-recurring operating income | 76A | - | €654 | +€654 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,598 | €6,075 | +€2,477 | +68.8% |
| Other operating charges | 640/8 | €439 | €1,949 | +€1,510 | +343.9% |
| Gross operating margin | 9900 | €77,316 | €53,443 | -€23,873 | -30.9% |
| Operating profit (loss) | 9901 | €73,279 | €45,420 | -€27,859 | -38.0% |
| Financial income | 75/76B | €579 | €971 | +€392 | +67.7% |
| Recurring financial income | 75 | €579 | €971 | +€392 | +67.7% |
| Financial charges | 65/66B | €1,659 | €9,743 | +€8,084 | +487.1% |
| Recurring financial charges | 65 | €1,659 | €9,743 | +€8,084 | +487.1% |
| Profit (loss) for the period before taxes | 9903 | €72,199 | €36,647 | -€35,551 | -49.2% |
| Income taxes | 67/77 | €15,349 | €9,304 | -€6,045 | -39.4% |
| Profit (loss) for the period | 9904 | €56,849 | €27,343 | -€29,506 | -51.9% |
| Profit (loss) for the period to be appropriated | 9905 | €56,849 | €27,343 | -€29,506 | -51.9% |
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 10 October 2026 via checked.be.