VERTIGO
Annual accounts 2025
micro format, filed on 31-08-2026, 31 days lateTurnover and EBIT margin are not published. The micro format does not require them.
Money flows
no detail for 2025Balance sheet
balance sheet total €499,020 on 31-12-2025in euro
in €m
Position in the sector
59.0%
Higher than 74% of 1,845 companies in 2025.
2.44
Higher than 76% of 1,757 companies in 2025.
-2.3%
Higher than 29% of 1,774 companies in 2025.
Net result: bottom quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||||
20/58 |
499,020 | 1.9m | 1.9m | 1.9m | 1.3m | 68,999 | 83,440 | 100,543 | 63,652 | 111,159 | 137,041 | 164,198 | 204,391 | 241,498 | 258,166 | 273,600 | 301,842 | 330,522 | 382,461 | |
21/28 |
0 | 1.8m | 1.8m | 1.9m | - | 47,570 | 37,878 | 45,374 | 52,375 | 76,243 | 109,561 | 142,880 | 176,197 | 209,834 | 215,717 | 246,773 | 277,830 | 307,375 | 337,103 | |
22/27 |
0 | 1.8m | 1.8m | 1.9m | - | 47,570 | 37,878 | 45,374 | 52,375 | 76,243 | 109,561 | 142,880 | 176,197 | 209,834 | 215,717 | 246,773 | 277,830 | 307,375 | 337,103 | |
23 |
0 | 1.8m | 1.8m | 1.9m | - | 47,570 | 37,878 | 45,374 | 52,375 | 76,243 | 109,561 | 142,880 | 176,197 | 209,834 | 215,717 | 246,773 | 277,830 | 307,375 | 337,103 | |
29/58 |
499,020 | 66,656 | 72,460 | 58,435 | 1.3m | 21,429 | 45,562 | 55,169 | 11,277 | 34,916 | 27,480 | 21,318 | 28,194 | 31,664 | 42,449 | 26,827 | 24,012 | 23,147 | 45,357 | |
40/41 |
484,140 | 42,884 | 10,922 | 36,911 | 12,029 | 5,314 | 3,978 | 32,960 | 1,903 | 27,870 | 15,770 | 8,606 | 18,834 | 1,525 | 14,631 | 18,364 | 20,208 | 15,337 | 39,473 | |
40 |
479,768 | 29,667 | 0 | 28,081 | 11,870 | - | - | 32,649 | 1,530 | 26,750 | 15,323 | 4,280 | 15,850 | - | 14,420 | - | 12,331 | 11,920 | 35,076 | |
41 |
4,372 | 13,217 | 10,922 | 8,830 | 159 | 5,314 | 3,978 | 312 | 373 | 1,120 | 447 | 4,326 | 2,984 | 1,525 | 211 | 18,364 | 7,877 | 3,417 | 4,397 | |
54/58 |
14,797 | 18,131 | 59,742 | 19,765 | 1.3m | 14,799 | 23,071 | 5,269 | 9,374 | 7,046 | 11,710 | 6,787 | 4,110 | 26,764 | 27,818 | 8,463 | 3,804 | 7,811 | 5,885 | |
490/1 |
83 | 5,642 | 1,797 | 1,760 | - | 1,316 | 18,513 | 16,940 | - | - | - | 5,925 | 5,250 | 3,375 | - | - | - | - | - | |
| Balance sheet: equity and liabilities | ||||||||||||||||||||
10/49 |
499,020 | 1.9m | 1.9m | 1.9m | 1.3m | 68,999 | 83,440 | 100,543 | 63,652 | 111,159 | 137,041 | 164,198 | 204,391 | 241,498 | 258,166 | 273,600 | 301,842 | 330,522 | 382,461 | |
10/15 |
294,190 | 305,453 | 480,597 | 562,027 | 651,786 | 1,119 | 35,609 | -328,292 | -310,718 | -281,287 | -238,520 | -215,301 | -167,018 | -130,924 | -99,375 | -91,778 | -60,149 | -32,107 | -676 | |
10/11 |
523,947 | 523,947 | 523,947 | 523,947 | 523,947 | 523,947 | - | 123,947 | 123,947 | 123,947 | 123,947 | 123,947 | 123,947 | 123,947 | 123,947 | 123,947 | 123,947 | 123,947 | 123,947 | |
100 |
- | - | - | - | - | - | - | 123,947 | 123,947 | 123,947 | 123,947 | 123,947 | 123,947 | 123,947 | 123,947 | 123,947 | 123,947 | 123,947 | 123,947 | |
11 |
- | - | - | - | - | - | 523,947 | - | - | - | - | - | - | - | - | - | - | - | - | |
1100/10 |
- | - | - | - | - | - | 523,947 | - | - | - | - | - | - | - | - | - | - | - | - | |
13 |
0 | 566,056 | 599,138 | 632,220 | 661,633 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
132 |
0 | 566,056 | 599,138 | 632,220 | 661,633 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
14 |
-229,757 | -784,550 | -642,488 | -594,140 | -533,794 | -522,828 | -488,338 | -452,239 | -434,665 | -405,233 | -362,467 | -339,248 | -290,965 | -254,871 | -223,322 | -215,725 | -184,095 | -156,053 | -124,622 | |
16 |
0 | 37,222 | 39,398 | 41,573 | 43,513 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
168 |
0 | 37,222 | 39,398 | 41,573 | 43,513 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
17/49 |
204,830 | 1.5m | 1.4m | 1.3m | 592,479 | 67,880 | 47,831 | 428,835 | 374,370 | 392,446 | 375,561 | 379,499 | 371,409 | 372,422 | 357,541 | 365,378 | 361,990 | 362,629 | 383,136 | |
42/48 |
204,830 | 1.5m | 1.4m | 1.3m | 592,479 | 67,880 | 47,831 | 428,835 | 374,370 | 392,446 | 375,561 | 379,499 | 371,409 | 372,422 | 357,541 | 365,378 | 361,990 | 362,629 | 383,136 | |
44 |
4,030 | 31,044 | 1,339 | 33,756 | 12,023 | 1,035 | 22,049 | 5,361 | 1,586 | 19,156 | 38 | 123 | 2,729 | 1,346 | 778 | 1,736 | 3,596 | 10,347 | 14,610 | |
440/4 |
4,030 | 31,044 | 1,339 | 33,756 | 12,023 | 1,035 | 22,049 | 5,361 | 1,586 | 19,156 | 38 | 123 | 2,729 | 1,346 | 778 | 1,736 | 3,596 | 10,347 | 14,610 | |
46 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 9,971 | |
45 |
840 | 1,680 | 840 | 1,993 | 1,680 | 840 | 989 | 788 | 788 | 788 | 1,575 | 1,575 | 787 | 787 | 1,575 | - | - | 17,891 | 17,071 | |
450/3 |
840 | 1,680 | 840 | 1,993 | 1,680 | 840 | 989 | 788 | 788 | 788 | 1,575 | 1,575 | 787 | 787 | 1,575 | - | - | 17,891 | 17,071 | |
47/48 |
199,959 | 1.5m | 1.4m | 1.3m | 578,776 | 66,005 | 24,794 | 422,686 | 371,997 | 372,502 | 373,948 | 377,801 | 367,893 | 370,289 | 355,188 | 363,642 | 358,394 | 334,391 | 341,484 | |
| Income statement | ||||||||||||||||||||
70 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 54,780 | |
76A |
- | - | - | - | 705,147 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
9900 |
-64,391 | -73,507 | 17,259 | -9,126 | 695,061 | -25,993 | -27,840 | 20,647 | 5,563 | -8,668 | 10,771 | -13,641 | -1,722 | 3,080 | 24,160 | 217 | 3,726 | 199 | -4,496 | |
60/61 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 59,276 | |
630 |
0 | 101,914 | 98,519 | 81,706 | - | 7,885 | 7,496 | 37,409 | 34,368 | 33,318 | 33,318 | 33,318 | 33,636 | 33,853 | 31,056 | 31,056 | 31,134 | 30,816 | 30,598 | |
640/8 |
1,118 | 1,684 | 1,942 | 450 | 449 | 453 | 546 | 444 | 442 | 640 | 440 | 1,090 | 437 | 479 | 477 | 502 | 405 | 499 | 410 | |
9901 |
-65,510 | -177,105 | -83,201 | -91,282 | 694,613 | -34,331 | -35,881 | -17,206 | -29,246 | -42,625 | -22,987 | -48,049 | -35,795 | -31,252 | -7,372 | -31,340 | -27,813 | -31,116 | -35,504 | |
75/76B |
17,501 | 250 | - | 0 | - | - | - | - | - | 8 | 3 | 3 | 24 | 18 | 15 | 6 | 9 | 7 | - | |
75 |
0 | 250 | - | - | - | - | - | - | - | 8 | 3 | 3 | 24 | 18 | 15 | 6 | 9 | 7 | - | |
76B |
17,501 | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
65/66B |
476 | 464 | 404 | 418 | 432 | 159 | 218 | 368 | 185 | 149 | 235 | 237 | 319 | 315 | 240 | 295 | 238 | 322 | 185 | |
65 |
476 | 464 | 404 | 418 | 432 | 159 | 218 | 368 | 185 | 149 | 235 | 237 | 319 | 315 | 240 | 295 | 238 | 322 | 185 | |
9903 |
-48,486 | -177,319 | -83,605 | -91,700 | 694,181 | -34,490 | -36,099 | -17,574 | -29,432 | -42,766 | -23,219 | -48,283 | -36,090 | -31,549 | -7,597 | -31,630 | -28,042 | -31,431 | -35,690 | |
780 |
37,222 | 2,175 | 2,175 | 1,940 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
680 |
- | - | - | 0 | 43,513 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
67/77 |
- | - | - | - | - | - | - | - | - | - | - | - | 4 | - | - | - | - | - | - | |
9904 |
-11,263 | -175,144 | -81,430 | -89,759 | 650,667 | -34,490 | -36,099 | -17,574 | -29,432 | -42,766 | -23,219 | -48,283 | -36,094 | -31,549 | -7,597 | -31,630 | -28,042 | -31,431 | -35,690 | |
789 |
566,056 | 33,082 | 33,082 | 29,413 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
689 |
- | - | - | 0 | 661,633 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
9905 |
554,793 | -142,062 | -48,348 | -60,346 | -10,966 | -34,490 | -36,099 | -17,574 | -29,432 | -42,766 | -23,219 | -48,283 | -36,094 | -31,549 | -7,597 | -31,630 | -28,042 | -31,431 | -35,690 | |
| Appropriation of the result | ||||||||||||||||||||
9906 |
-229,757 | -784,550 | -642,488 | -594,140 | -533,794 | -522,828 | -488,338 | -452,239 | -434,665 | -405,233 | -362,467 | -339,248 | -290,965 | -254,871 | -223,322 | -215,725 | -184,095 | -156,053 | -124,622 | |
14P |
-784,550 | -642,488 | -594,140 | -533,794 | -522,828 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Document | ||||||||||||||||||||
The accounts for 4 older financial years (1999-2004) were filed as documents without figures as data, scans for example.
The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 31-08-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 31 days after the deadline. Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00503769.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00503769 | |
| 31-12-2024 | micro format | 23-07-2025 | 2025-00305856 | |
| 31-12-2023 | micro format | 31-07-2024 | 2024-00335280 | |
| 31-12-2022 | micro format | 24-08-2023 | 2023-00363722 | |
| 31-12-2021 | micro format | 30-08-2022 | 2022-20366748 | |
| 31-12-2020 | micro format | 25-08-2021 | 2021-54700469 | |
| 31-12-2019 | micro format | 27-10-2020 | 2020-67200472 | |
| 31-12-2018 | micro format | 21-08-2019 | 2019-49200271 | |
| 31-12-2017 | micro format | 30-07-2018 | 2018-40800445 | |
| 31-12-2016 | micro format | 31-07-2017 | 2017-40500328 | |
| 31-12-2015 | abbreviated format | 26-08-2016 | 2016-48500503 | |
| 31-12-2014 | abbreviated format | 27-08-2015 | 2015-49800579 | |
| 31-12-2013 | abbreviated format | 29-08-2014 | 2014-57200170 | |
| 31-12-2012 | abbreviated format | 23-08-2013 | 2013-49000452 | |
| 31-12-2011 | abbreviated format | 27-08-2012 | 2012-45400079 | |
| 31-12-2010 | abbreviated format | 27-05-2011 | 2011-12900404 | |
| 31-12-2009 | abbreviated format | 27-08-2010 | 2010-51500088 | |
| 31-12-2008 | abbreviated format | 31-08-2009 | 2009-74900161 | |
| 31-12-2007 | abbreviated format | 30-09-2008 | 2008-77400218 | |
| 31-12-2004 | abbreviated format | 31-01-2006 | 2006-03803068 | |
| 31-12-2003 | abbreviated format | 30-11-2004 | 2004-82005003 | |
| 31-12-2000 | abbreviated format | 03-07-2002 | 2002-32800614 | |
| 31-12-1999 | abbreviated format | 03-07-2002 | 2002-32800509 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -65,510 | -75,191 | 15,318 | -9,576 | - | -26,446 | -28,386 | 20,203 | 5,122 | -9,307 | 10,331 | -14,731 | -2,159 | 2,601 | 23,684 | -284 | 3,320 | -300 | -4,906 | ||
| -11,263 | -73,230 | 17,089 | -8,053 | - | -26,605 | -28,603 | 19,835 | 4,937 | -9,448 | 10,099 | -14,965 | -2,458 | 2,304 | 23,459 | -573 | 3,092 | -615 | -5,091 | ||
| -1.8m | 78,988 | 57,403 | 1.9m | - | 17,577 | 0 | 30,407 | 10,500 | 0 | -1 | 1 | -1 | 27,970 | -0 | 0 | 1,588 | 1,088 | - | ||
| -3,333 | -41,611 | 39,977 | -1.3m | 1.3m | -8,272 | 17,802 | -4,105 | 2,328 | -4,664 | 4,923 | 2,677 | -22,654 | -1,054 | 19,355 | 4,660 | -4,007 | 1,926 | - | ||
| 294,190 | -1.4m | -1.3m | -1.2m | 695,300 | -46,451 | -2,269 | -373,666 | -363,093 | -357,530 | -348,081 | -358,181 | -343,215 | -340,758 | -315,092 | -338,552 | -337,978 | -339,482 | -337,779 | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -64.8% | ||
| 59.0% | 16.5% | 25.5% | 29.4% | 50.6% | 1.6% | 42.7% | -326.5% | -488.2% | -253.0% | -174.1% | -131.1% | -81.7% | -54.2% | -38.5% | -33.5% | -19.9% | -9.7% | -0.2% | ||
| 2.44 | 0.04 | 0.05 | 0.04 | 2.17 | 0.32 | 0.95 | 0.13 | 0.03 | 0.09 | 0.07 | 0.06 | 0.08 | 0.09 | 0.12 | 0.07 | 0.07 | 0.06 | 0.12 | ||
| 0.70 | 4.95 | 2.83 | 2.32 | 0.91 | 60.66 | 1.34 | - | - | - | - | - | - | - | - | - | - | - | - | ||
| -3.8% | -57.3% | -16.9% | -16.0% | 99.8% | - | -101.4% | - | - | - | - | - | - | - | - | - | - | - | - | ||
| -2.3% | -9.4% | -4.3% | -4.7% | 50.5% | -50.0% | -43.3% | -17.5% | -46.2% | -38.5% | -16.9% | -29.4% | -17.7% | -13.1% | -2.9% | -11.6% | -9.3% | -9.5% | -9.3% | ||
| -137.49 | -161.96 | 37.92 | -22.93 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 234 days | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 90 days |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €78,988 | €57,403 | €1.9m | - |
| €0 | €101,914 | €98,519 | €81,706 | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on VERTIGO
The operating result for 2025 is a loss of €65,510, smaller than the loss of €177,105 in 2024.
Debt's share of the balance-sheet total falls from 81.5% to 41.0%. Equity and debt are lower.