VERWILST: 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.
VERWILST
Largest movements
- Tangible fixed assets -€54,583
down €54,583 (-12.0%), from €456,271 to €401,688
of which Furniture and vehicles: -€47,287
- Cash +€31,728
up €31,728 (+11.8%), from €269,198 to €300,926
mainly Net result for the year (+€97,586) and Depreciation (+€79,781)
- Debts after one year -€55,007
down €55,007 (-39.3%), from €140,130 to €85,123
- Other debts +€39,660
up €39,660 (+23.5%), from €168,569 to €208,228
- Trade debts -€23,113
down €23,113 (-20.8%), from €111,122 to €88,009
- Tax, wage and social debts +€19,845
up €19,845 (+100%), from €19,840 to €39,685
- Gross operating margin +€42,126
up €42,126 (+20.5%), from €205,509 to €247,635
- Depreciation +€36,495
up €36,495 (+84.3%), from €43,286 to €79,781
- Financial charges +€4,835
up €4,835 (+68.9%), from €7,019 to €11,854
- Other operating charges +€3,582
up €3,582 (+24.5%), from €14,632 to €18,214
- Taxes +€2,989
up €2,989 (+6.5%), from €45,650 to €48,639
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,410,135 | €1,391,631 | -€18,504 | -1.3% |
| Fixed assets | 21/28 | €456,271 | €401,688 | -€54,583 | -12.0% |
| Tangible fixed assets | 22/27 | €456,271 | €401,688 | -€54,583 | -12.0% |
| Land and buildings | 22 | €221,335 | €214,431 | -€6,903 | -3.1% |
| Plant, machinery and equipment | 23 | €646 | €254 | -€392 | -60.7% |
| Furniture and vehicles | 24 | €234,290 | €187,002 | -€47,287 | -20.2% |
| Current assets | 29/58 | €953,865 | €989,944 | +€36,079 | +3.8% |
| Stocks and contracts in progress | 3 | €57,198 | €69,719 | +€12,521 | +21.9% |
| Stocks | 30/36 | €57,198 | €69,719 | +€12,521 | +21.9% |
| Amounts receivable within one year | 40/41 | €257,129 | €252,107 | -€5,022 | -2.0% |
| Trade receivables | 40 | €227,175 | €252,107 | +€24,932 | +11.0% |
| Other amounts receivable | 41 | €29,954 | - | -€29,954 | |
| Current investments | 50/53 | €370,340 | €367,192 | -€3,148 | -0.8% |
| Cash at bank and in hand | 54/58 | €269,198 | €300,926 | +€31,728 | +11.8% |
| Total equity and liabilities | 10/49 | €1,410,135 | €1,391,631 | -€18,504 | -1.3% |
| Equity | 10/15 | €899,886 | €904,474 | +€4,588 | +0.5% |
| Contributions | 10/11 | €237,746 | €237,746 | = | 0.0% |
| Reserves | 13 | €662,140 | €666,728 | +€4,588 | +0.7% |
| Tax-exempt reserves | 132 | €84,629 | €79,949 | -€4,680 | -5.5% |
| Distributable reserves | 133 | €577,510 | €586,779 | +€9,268 | +1.6% |
| Provisions and deferred taxes | 16 | €7,770 | €6,210 | -€1,560 | -20.1% |
| Deferred taxes | 168 | €7,770 | €6,210 | -€1,560 | -20.1% |
| Amounts payable | 17/49 | €502,480 | €480,947 | -€21,532 | -4.3% |
| Amounts payable after more than one year | 17 | €140,130 | €85,123 | -€55,007 | -39.3% |
| Financial debts | 170/4 | €140,130 | €85,123 | -€55,007 | -39.3% |
| Amounts payable within one year | 42/48 | €362,350 | €390,929 | +€28,579 | +7.9% |
| Current portion of amounts payable after more than one year | 42 | €62,820 | €55,007 | -€7,812 | -12.4% |
| Trade debts | 44 | €111,122 | €88,009 | -€23,113 | -20.8% |
| Suppliers | 440/4 | €111,122 | €88,009 | -€23,113 | -20.8% |
| Taxes, remuneration and social security | 45 | €19,840 | €39,685 | +€19,845 | +100% |
| Taxes | 450/3 | €19,840 | €39,685 | +€19,845 | +100% |
| Other amounts payable | 47/48 | €168,569 | €208,228 | +€39,660 | +23.5% |
| Accrued charges and deferred income | 492/3 | - | €4,896 | +€4,896 | |
| Non-recurring operating income | 76A | €413 | - | -€413 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,286 | €79,781 | +€36,495 | +84.3% |
| Other operating charges | 640/8 | €14,632 | €18,214 | +€3,582 | +24.5% |
| Gross operating margin | 9900 | €205,509 | €247,635 | +€42,126 | +20.5% |
| Operating profit (loss) | 9901 | €147,591 | €149,640 | +€2,049 | +1.4% |
| Financial income | 75/76B | €8,964 | €6,879 | -€2,085 | -23.3% |
| Recurring financial income | 75 | €8,964 | €6,879 | -€2,085 | -23.3% |
| Financial charges | 65/66B | €7,019 | €11,854 | +€4,835 | +68.9% |
| Recurring financial charges | 65 | €7,019 | €11,854 | +€4,835 | +68.9% |
| Profit (loss) for the period before taxes | 9903 | €149,536 | €144,665 | -€4,871 | -3.3% |
| Transfer from deferred taxes | 780 | €30 | €1,560 | +€1,530 | +5,114% |
| Income taxes | 67/77 | €45,650 | €48,639 | +€2,989 | +6.5% |
| Profit (loss) for the period | 9904 | €103,915 | €97,586 | -€6,330 | -6.1% |
| Transfer from tax-exempt reserves | 789 | €90 | €4,680 | +€4,590 | +5,114% |
| Profit (loss) for the period to be appropriated | 9905 | €104,005 | €102,266 | -€1,739 | -1.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.