VERBO: 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.
VERBO
Largest movements
- Tangible fixed assets +€187,716
up €187,716 (+28.6%), from €656,125 to €843,841
of which Land and buildings: +€162,800
- Other debts +€136,374
up €136,374 (+37.4%), from €364,684 to €501,058
- Debts after one year +€98,105
new in 2025: €98,105
- Profit (loss) carried forward -€37,257
new in 2025: -€37,257
- Trade debts -€26,499
down €26,499 (-60.6%), from €43,720 to €17,221
- Current portion of long-term debt +€18,493
new in 2025: €18,493
- Depreciation +€20,708
up €20,708 (+65.1%), from €31,809 to €52,517
- Gross operating margin -€6,477
down €6,477 (-20.6%), from €31,496 to €25,018
- Financial charges +€4,047
up €4,047 (+484%), from €837 to €4,884
- Other operating charges +€1,707
up €1,707 (+58.7%), from €2,906 to €4,613
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 | €656,989 | €845,829 | +€188,840 | +28.7% |
| Fixed assets | 21/28 | €656,125 | €843,841 | +€187,716 | +28.6% |
| Tangible fixed assets | 22/27 | €656,125 | €843,841 | +€187,716 | +28.6% |
| Land and buildings | 22 | €656,125 | €818,925 | +€162,800 | +24.8% |
| Leasing and similar rights | 25 | - | €24,915 | +€24,915 | |
| Current assets | 29/58 | €864 | €1,988 | +€1,124 | +130% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €250 | €250 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €614 | €1,738 | +€1,124 | +183% |
| Total equity and liabilities | 10/49 | €656,989 | €845,829 | +€188,840 | +28.7% |
| Equity | 10/15 | €227,422 | €190,164 | -€37,257 | -16.4% |
| Contributions | 10/11 | €213,000 | €213,000 | = | 0.0% |
| Capital | 10 | €213,000 | €213,000 | = | 0.0% |
| Issued capital | 100 | €213,000 | €213,000 | = | 0.0% |
| Reserves | 13 | €14,422 | €14,422 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,301 | €2,978 | -€2,324 | -43.8% |
| Legal reserve | 130 | €5,301 | €2,978 | -€2,324 | -43.8% |
| Distributable reserves | 133 | €9,120 | €11,444 | +€2,324 | +25.5% |
| Profit (loss) carried forward | 14 | - | -€37,257 | -€37,257 | |
| Amounts payable | 17/49 | €429,567 | €655,665 | +€226,097 | +52.6% |
| Amounts payable after more than one year | 17 | - | €98,105 | +€98,105 | |
| Financial debts | 170/4 | - | €98,105 | +€98,105 | |
| Amounts payable within one year | 42/48 | €429,567 | €557,560 | +€127,993 | +29.8% |
| Current portion of amounts payable after more than one year | 42 | - | €18,493 | +€18,493 | |
| Financial debts | 43 | €14,499 | €19,651 | +€5,153 | +35.5% |
| Credit institutions | 430/8 | €14,499 | €19,651 | +€5,153 | +35.5% |
| Trade debts | 44 | €43,720 | €17,221 | -€26,499 | -60.6% |
| Suppliers | 440/4 | €43,720 | €17,221 | -€26,499 | -60.6% |
| Taxes, remuneration and social security | 45 | €6,665 | €1,137 | -€5,528 | -82.9% |
| Taxes | 450/3 | €6,665 | €1,137 | -€5,528 | -82.9% |
| Other amounts payable | 47/48 | €364,684 | €501,058 | +€136,374 | +37.4% |
| Non-recurring operating income | 76A | €22,645 | €23,332 | +€687 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,809 | €52,517 | +€20,708 | +65.1% |
| Other operating charges | 640/8 | €2,906 | €4,613 | +€1,707 | +58.7% |
| Gross operating margin | 9900 | €31,496 | €25,018 | -€6,477 | -20.6% |
| Operating profit (loss) | 9901 | -€3,219 | -€32,112 | -€28,893 | -898% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €837 | €4,884 | +€4,047 | +484% |
| Recurring financial charges | 65 | €837 | €4,884 | +€4,047 | +484% |
| Profit (loss) for the period before taxes | 9903 | -€4,056 | -€36,996 | -€32,940 | -812% |
| Income taxes | 67/77 | - | €262 | +€262 | |
| Profit (loss) for the period | 9904 | -€4,056 | -€37,257 | -€33,202 | -819% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,056 | -€37,257 | -€33,202 | -819% |
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 27 October 2026 via checked.be.