S.A. VERT SERVICE: what changed
What changed
S.A. VERT SERVICE
NACE 46.610, Wholesale trade
filed annual accounts (NBB)
Net result for the year
-€81,295
2024 · €8,664-€89,959
Equity
€824,918
2024 · €906,213-€81,295
Cash
€127,714
2024 · €55,008+€72,706
Balance sheet total
€1.9m
2024 · €1.9m-€20,236
Largest movements
Assets
- Stocks and contracts -€210,216
down €210,216 (-15.3%), from €1.4m to €1.2m
- Tangible fixed assets +€91,956
up €91,956 (+29.7%), from €310,128 to €402,083
of which Furniture and vehicles: +€102,715
- Cash +€72,706
up €72,706 (+132%), from €55,008 to €127,714
mainly Stocks and contracts (+€210,216) and Depreciation (+€97,378)
- Deferred charges and accrued income +€43,780
up €43,780 (+99.8%), from €43,877 to €87,658
Equity and liabilities
- Reserves -€81,282
down €81,282 (-9.6%), from €844,200 to €762,918
of which Distributable reserves: -€81,282
- Advances received +€53,680
new in 2025: €53,680
- Debts after one year +€50,560
up €50,560 (+585%), from €8,642 to €59,202
Income statement
- Gross operating margin -€107,870
down €107,870 (-22.9%), from €470,208 to €362,337
- Staff costs -€17,774
down €17,774 (-5.7%), from €311,446 to €293,673
- Financial charges -€13,738
down €13,738 (-25.6%), from €53,625 to €39,887
- Depreciation +€8,705
up €8,705 (+9.8%), from €88,673 to €97,378
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€8,664
Gross operating margin
-€107,870
Staff costs
+€17,774
Depreciation
-€8,705
Other operating charges
-€2,225
Other operating items
-€4,361
Financial income
+€1,090
Financial charges
+€13,738
Taxes
+€601
Result 2025
-€81,295
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€231,929
Investment
-€189,333
Financing
+€30,111
Cash 2024
€55,008
From operations (derived)
+€231,929
Net result for the year
-€81,295
Depreciation
+€97,378
Stocks and contracts
+€210,216
Receivables within one year
+€18,462
Deferred charges and accrued income
-€43,780
Trade debts
-€15,400
Tax, wage and social debts
-€8,135
Advances received
+€53,680
Other debts
-€4,600
Accrued charges and deferred income
+€5,405
Investment (derived)
-€189,333
Investment in fixed assets (net)
-€189,333
Financing
+€30,111
Debts after one year
+€50,560
Current portion of long-term debt
-€10,449
Short-term financial debts
-€10,000
Cash 2025
€127,714
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,875,297 | €1,855,061 | -€20,236 | -1.1% |
| Fixed assets | 21/28 | €311,526 | €403,481 | +€91,956 | +29.5% |
| Tangible fixed assets | 22/27 | €310,128 | €402,083 | +€91,956 | +29.7% |
| Land and buildings | 22 | €116,962 | €116,962 | = | 0.0% |
| Plant, machinery and equipment | 23 | €11,409 | €9,056 | -€2,353 | -20.6% |
| Furniture and vehicles | 24 | €45,414 | €148,130 | +€102,715 | +226% |
| Leasing and similar rights | 25 | €132,242 | €125,984 | -€6,258 | -4.7% |
| Other tangible fixed assets | 26 | €4,101 | €1,952 | -€2,149 | -52.4% |
| Financial fixed assets | 28 | €1,398 | €1,398 | = | 0.0% |
| Current assets | 29/58 | €1,563,771 | €1,451,580 | -€112,192 | -7.2% |
| Stocks and contracts in progress | 3 | €1,372,638 | €1,162,422 | -€210,216 | -15.3% |
| Stocks | 30/36 | €1,372,638 | €1,162,422 | -€210,216 | -15.3% |
| Amounts receivable within one year | 40/41 | €92,247 | €73,786 | -€18,462 | -20.0% |
| Trade receivables | 40 | €92,247 | €72,702 | -€19,545 | -21.2% |
| Other amounts receivable | 41 | - | €1,084 | +€1,084 | |
| Cash at bank and in hand | 54/58 | €55,008 | €127,714 | +€72,706 | +132% |
| Deferred charges and accrued income | 490/1 | €43,877 | €87,658 | +€43,780 | +99.8% |
| Total equity and liabilities | 10/49 | €1,875,297 | €1,855,061 | -€20,236 | -1.1% |
| Equity | 10/15 | €906,213 | €824,918 | -€81,295 | -9.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €844,200 | €762,918 | -€81,282 | -9.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €838,000 | €756,718 | -€81,282 | -9.7% |
| Profit (loss) carried forward | 14 | €13 | - | -€13 | |
| Amounts payable | 17/49 | €969,084 | €1,030,143 | +€61,059 | +6.3% |
| Amounts payable after more than one year | 17 | €8,642 | €59,202 | +€50,560 | +585% |
| Financial debts | 170/4 | €8,642 | €59,202 | +€50,560 | +585% |
| Amounts payable within one year | 42/48 | €958,117 | €963,212 | +€5,095 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €67,261 | €56,812 | -€10,449 | -15.5% |
| Financial debts | 43 | €730,000 | €720,000 | -€10,000 | -1.4% |
| Credit institutions | 430/8 | €730,000 | €720,000 | -€10,000 | -1.4% |
| Trade debts | 44 | €97,076 | €81,675 | -€15,400 | -15.9% |
| Suppliers | 440/4 | €97,076 | €81,675 | -€15,400 | -15.9% |
| Advances received on contracts in progress | 46 | - | €53,680 | +€53,680 | |
| Taxes, remuneration and social security | 45 | €44,088 | €35,953 | -€8,135 | -18.5% |
| Taxes | 450/3 | €11,336 | €6,241 | -€5,096 | -44.9% |
| Remuneration and social security | 454/9 | €32,751 | €29,712 | -€3,040 | -9.3% |
| Other amounts payable | 47/48 | €19,692 | €15,092 | -€4,600 | -23.4% |
| Accrued charges and deferred income | 492/3 | €2,325 | €7,729 | +€5,405 | +232% |
| Remuneration, social security and pensions | 62 | €311,446 | €293,673 | -€17,774 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,673 | €97,378 | +€8,705 | +9.8% |
| Other operating charges | 640/8 | €7,419 | €9,643 | +€2,225 | +30.0% |
| Non-recurring operating charges | 66A | - | €4,361 | +€4,361 | |
| Gross operating margin | 9900 | €470,208 | €362,337 | -€107,870 | -22.9% |
| Operating profit (loss) | 9901 | €62,670 | -€42,718 | -€105,387 | |
| Financial income | 75/76B | €169 | €1,259 | +€1,090 | +645% |
| Recurring financial income | 75 | €169 | €1,259 | +€1,090 | +645% |
| Financial charges | 65/66B | €53,625 | €39,887 | -€13,738 | -25.6% |
| Recurring financial charges | 65 | €53,625 | €39,887 | -€13,738 | -25.6% |
| Profit (loss) for the period before taxes | 9903 | €9,214 | -€81,346 | -€90,560 | |
| Income taxes | 67/77 | €550 | -€51 | -€601 | |
| Profit (loss) for the period | 9904 | €8,664 | -€81,295 | -€89,959 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,664 | -€81,295 | -€89,959 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.