Vercalo Services: 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.
Vercalo Services
Largest movements
- Tangible fixed assets +€2.0m
up €2.0m (+509%), from €397,659 to €2.4m
of which Land and buildings: +€1.8m
- Receivables within one year -€133,910
down €133,910 (-58.1%), from €230,398 to €96,488
of which Trade receivables: -€148,744
- Debts after one year +€1.5m
up €1.5m (+1,175%), from €128,889 to €1.6m
- Other debts +€335,648
up €335,648 (+142%), from €235,894 to €571,541
- Current portion of long-term debt +€116,667
up €116,667 (+366%), from €31,833 to €148,500
- Reserves -€74,425
down €74,425 (-38.7%), from €192,391 to €117,967
- Profit (loss) carried forward -€51,251
down €51,251, from €0 to -€51,251
- Depreciation +€158,988
up €158,988 (+1,010%), from €15,748 to €174,737
- Gross operating margin +€96,660
up €96,660 (+129%), from €75,191 to €171,852
- Financial charges +€44,470
up €44,470 (+553%), from €8,047 to €52,517
- Taxes -€10,470
down €10,470 (-98.8%), from €10,602 to €132
- Other operating charges +€9,629
up €9,629 (+1,876%), from €513 to €10,142
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 | €671,054 | €2,537,413 | +€1.9m | +278% |
| Fixed assets | 21/28 | €397,659 | €2,419,997 | +€2.0m | +509% |
| Tangible fixed assets | 22/27 | €397,659 | €2,419,997 | +€2.0m | +509% |
| Land and buildings | 22 | €397,659 | €2,190,221 | +€1.8m | +451% |
| Plant, machinery and equipment | 23 | - | €229,776 | +€229,776 | |
| Current assets | 29/58 | €273,395 | €117,416 | -€155,979 | -57.1% |
| Amounts receivable within one year | 40/41 | €230,398 | €96,488 | -€133,910 | -58.1% |
| Trade receivables | 40 | €210,955 | €62,211 | -€148,744 | -70.5% |
| Other amounts receivable | 41 | €19,443 | €34,277 | +€14,833 | +76.3% |
| Cash at bank and in hand | 54/58 | €42,997 | €20,928 | -€22,068 | -51.3% |
| Total equity and liabilities | 10/49 | €671,054 | €2,537,413 | +€1.9m | +278% |
| Equity | 10/15 | €252,391 | €126,716 | -€125,676 | -49.8% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €192,391 | €117,967 | -€74,425 | -38.7% |
| Distributable reserves | 133 | €192,391 | €117,967 | -€74,425 | -38.7% |
| Profit (loss) carried forward | 14 | €0 | -€51,251 | -€51,251 | |
| Amounts payable | 17/49 | €418,662 | €2,410,697 | +€2.0m | +476% |
| Amounts payable after more than one year | 17 | €128,889 | €1,642,889 | +€1.5m | +1,175% |
| Financial debts | 170/4 | €128,889 | €1,642,889 | +€1.5m | +1,175% |
| Amounts payable within one year | 42/48 | €289,774 | €767,808 | +€478,035 | +165% |
| Current portion of amounts payable after more than one year | 42 | €31,833 | €148,500 | +€116,667 | +366% |
| Trade debts | 44 | €15,107 | €40,075 | +€24,968 | +165% |
| Suppliers | 440/4 | €15,107 | €40,075 | +€24,968 | +165% |
| Taxes, remuneration and social security | 45 | €6,939 | €7,691 | +€752 | +10.8% |
| Taxes | 450/3 | €1,375 | €1,745 | +€370 | +26.9% |
| Remuneration and social security | 454/9 | €5,564 | €5,947 | +€382 | +6.9% |
| Other amounts payable | 47/48 | €235,894 | €571,541 | +€335,648 | +142% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,748 | €174,737 | +€158,988 | +1,010% |
| Other operating charges | 640/8 | €513 | €10,142 | +€9,629 | +1,876% |
| Gross operating margin | 9900 | €75,191 | €171,852 | +€96,660 | +129% |
| Operating profit (loss) | 9901 | €58,930 | -€13,027 | -€71,957 | |
| Financial charges | 65/66B | €8,047 | €52,517 | +€44,470 | +553% |
| Recurring financial charges | 65 | €8,047 | €52,517 | +€44,470 | +553% |
| Profit (loss) for the period before taxes | 9903 | €50,883 | -€65,544 | -€116,427 | |
| Income taxes | 67/77 | €10,602 | €132 | -€10,470 | -98.8% |
| Profit (loss) for the period | 9904 | €40,281 | -€65,676 | -€105,957 | |
| Profit (loss) for the period to be appropriated | 9905 | €40,281 | -€65,676 | -€105,957 |
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 26 October 2026 via checked.be.