diff --git a/CMakeLists.txt b/CMakeLists.txt
index 911751a8a3..d53b2f664c 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -16,7 +16,7 @@ cmake_minimum_required(VERSION 3.15)
 cmake_policy(SET CMP0091 NEW) # Use MSVC_RUNTIME_LIBRARY to select the runtime
 project(
     Verilator
-    VERSION 5.032
+    VERSION 5.033
     HOMEPAGE_URL https://verilator.org
     LANGUAGES CXX
 )
diff --git a/Changes b/Changes
index d2121e1174..c7bafdf9a8 100644
--- a/Changes
+++ b/Changes
@@ -8,6 +8,12 @@ The changes in each Verilator version are described below.  The
 contributors that suggested a given feature are shown in []. Thanks!
 
 
+Verilator 5.033 devel
+==========================
+
+**Minor:**
+
+
 Verilator 5.032 2025-01-01
 ==========================
 
diff --git a/configure.ac b/configure.ac
index a7e1b89761..4420a1f7f4 100644
--- a/configure.ac
+++ b/configure.ac
@@ -10,7 +10,7 @@
 # Then 'make maintainer-dist'
 #AC_INIT([Verilator],[#.### YYYY-MM-DD])
 #AC_INIT([Verilator],[#.### devel])
-AC_INIT([Verilator],[5.032 2025-01-01],
+AC_INIT([Verilator],[5.033 devel],
         [https://verilator.org],
         [verilator],[https://verilator.org])