WALTER VERDIN: 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.
WALTER VERDIN
Largest movements
- Tangible fixed assets -€2,780
down €2,780 (-40.9%), from €6,798 to €4,018
of which Plant, machinery and equipment: -€1,900
- Receivables within one year -€1,753
down €1,753 (-7.6%), from €23,157 to €21,404
of which Other amounts receivable: -€1,915
- Cash -€1,500
down €1,500 (-1.5%), from €103,348 to €101,848
mainly Net result for the year (-€18,284) and Investment in fixed assets (net) (-€873)
- Profit (loss) carried forward -€19,117
down €19,117 (-30.5%), from €62,696 to €43,579
- Other debts +€13,766
up €13,766 (+38.1%), from €36,161 to €49,928
- Gross operating margin -€4,308
down €4,308 (-46.6%), from -€9,244 to -€13,552
- Depreciation +€800
up €800 (+40.4%), from €1,980 to €2,780
- Financial charges +€701
up €701 (+29.5%), from €2,372 to €3,073
- Financial income +€510
up €510 (+31.5%), from €1,621 to €2,130
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 | €133,452 | €128,466 | -€4,986 | -3.7% |
| Fixed assets | 21/28 | €6,947 | €5,040 | -€1,907 | -27.5% |
| Tangible fixed assets | 22/27 | €6,798 | €4,018 | -€2,780 | -40.9% |
| Plant, machinery and equipment | 23 | €2,480 | €579 | -€1,900 | -76.6% |
| Furniture and vehicles | 24 | €4,318 | €3,439 | -€880 | -20.4% |
| Financial fixed assets | 28 | €149 | €1,022 | +€873 | +586% |
| Current assets | 29/58 | €126,505 | €123,426 | -€3,079 | -2.4% |
| Amounts receivable within one year | 40/41 | €23,157 | €21,404 | -€1,753 | -7.6% |
| Trade receivables | 40 | €0 | €163 | +€163 | |
| Other amounts receivable | 41 | €23,157 | €21,241 | -€1,915 | -8.3% |
| Cash at bank and in hand | 54/58 | €103,348 | €101,848 | -€1,500 | -1.5% |
| Deferred charges and accrued income | 490/1 | - | €174 | +€174 | |
| Total equity and liabilities | 10/49 | €133,452 | €128,466 | -€4,986 | -3.7% |
| Equity | 10/15 | €95,656 | €76,539 | -€19,117 | -20.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €26,760 | €26,760 | = | 0.0% |
| Distributable reserves | 133 | €26,760 | €26,760 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,696 | €43,579 | -€19,117 | -30.5% |
| Amounts payable | 17/49 | €37,796 | €51,927 | +€14,131 | +37.4% |
| Amounts payable within one year | 42/48 | €37,796 | €51,927 | +€14,131 | +37.4% |
| Trade debts | 44 | €699 | €529 | -€169 | -24.2% |
| Suppliers | 440/4 | €699 | €529 | -€169 | -24.2% |
| Taxes, remuneration and social security | 45 | €936 | €1,470 | +€534 | +57.0% |
| Taxes | 450/3 | €936 | €1,470 | +€534 | +57.0% |
| Other amounts payable | 47/48 | €36,161 | €49,928 | +€13,766 | +38.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,980 | €2,780 | +€800 | +40.4% |
| Other operating charges | 640/8 | €773 | €813 | +€40 | +5.1% |
| Gross operating margin | 9900 | -€9,244 | -€13,552 | -€4,308 | -46.6% |
| Operating profit (loss) | 9901 | -€11,997 | -€17,145 | -€5,148 | -42.9% |
| Financial income | 75/76B | €1,621 | €2,130 | +€510 | +31.5% |
| Recurring financial income | 75 | €1,621 | €2,130 | +€510 | +31.5% |
| Financial charges | 65/66B | €2,372 | €3,073 | +€701 | +29.5% |
| Recurring financial charges | 65 | €2,372 | €3,073 | +€701 | +29.5% |
| Profit (loss) for the period before taxes | 9903 | -€12,749 | -€18,088 | -€5,339 | -41.9% |
| Income taxes | 67/77 | €151 | €196 | +€45 | +29.6% |
| Profit (loss) for the period | 9904 | -€12,900 | -€18,284 | -€5,383 | -41.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,900 | -€18,284 | -€5,383 | -41.7% |
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 24 October 2026 via checked.be.