VERCOSOLAR: 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.
VERCOSOLAR
Largest movements
- Cash +€183,168
up €183,168 (+269%), from €68,214 to €251,382
mainly Depreciation (+€112,064) and Investment in fixed assets (net) (+€56,473)
- Tangible fixed assets -€168,536
down €168,536 (-15.5%), from €1.1m to €916,716
- Reserves +€36,000
up €36,000 (+5.5%), from €655,370 to €691,370
of which Distributable reserves: +€36,000
- Other debts +€35,160
up €35,160 (+92.6%), from €37,955 to €73,115
- Trade debts -€31,062
down €31,062 (-44.6%), from €69,718 to €38,655
- Debts after one year -€24,064
down €24,064 (-7.9%), from €304,107 to €280,043
- Gross operating margin -€61,244
down €61,244 (-26.0%), from €235,419 to €174,174
- Taxes -€22,369
down €22,369 (-55.3%), from €40,475 to €18,106
- Financial income +€20,725
up €20,725 (+232%), from €8,918 to €29,643
of which Non-recurring financial income: +€28,913
- Other operating charges -€16,249
down €16,249 (-41.6%), from €39,044 to €22,796
- Depreciation +€10,255
up €10,255 (+10.1%), from €101,808 to €112,064
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 | €1,242,311 | €1,241,258 | -€1,053 | -0.1% |
| Fixed assets | 21/28 | €1,085,253 | €916,716 | -€168,536 | -15.5% |
| Tangible fixed assets | 22/27 | €1,085,253 | €916,716 | -€168,536 | -15.5% |
| Land and buildings | 22 | €78,040 | €39,800 | -€38,240 | -49.0% |
| Plant, machinery and equipment | 23 | €96,647 | €59,354 | -€37,293 | -38.6% |
| Furniture and vehicles | 24 | €29,534 | €18,265 | -€11,269 | -38.2% |
| Other tangible fixed assets | 26 | €881,032 | €799,297 | -€81,735 | -9.3% |
| Current assets | 29/58 | €157,058 | €324,541 | +€167,483 | +107% |
| Stocks and contracts in progress | 3 | €33,892 | €24,568 | -€9,325 | -27.5% |
| Stocks | 30/36 | €33,892 | €24,568 | -€9,325 | -27.5% |
| Amounts receivable within one year | 40/41 | €54,952 | €48,592 | -€6,360 | -11.6% |
| Trade receivables | 40 | €19,591 | €17,620 | -€1,971 | -10.1% |
| Other amounts receivable | 41 | €35,361 | €30,972 | -€4,389 | -12.4% |
| Cash at bank and in hand | 54/58 | €68,214 | €251,382 | +€183,168 | +269% |
| Total equity and liabilities | 10/49 | €1,242,311 | €1,241,258 | -€1,053 | -0.1% |
| Equity | 10/15 | €743,301 | €777,978 | +€34,677 | +4.7% |
| Contributions | 10/11 | €81,000 | €81,000 | = | 0.0% |
| Reserves | 13 | €655,370 | €691,370 | +€36,000 | +5.5% |
| Non-distributable reserves | 130/1 | €8,100 | €8,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,100 | €8,100 | = | 0.0% |
| Distributable reserves | 133 | €647,270 | €683,270 | +€36,000 | +5.6% |
| Profit (loss) carried forward | 14 | €6,931 | €5,608 | -€1,323 | -19.1% |
| Provisions and deferred taxes | 16 | €20,235 | €17,345 | -€2,891 | -14.3% |
| Provisions for liabilities and charges | 160/5 | €20,235 | €17,345 | -€2,891 | -14.3% |
| Other liabilities and charges | 164/5 | €20,235 | €17,345 | -€2,891 | -14.3% |
| Amounts payable | 17/49 | €478,775 | €445,936 | -€32,839 | -6.9% |
| Amounts payable after more than one year | 17 | €304,107 | €280,043 | -€24,064 | -7.9% |
| Financial debts | 170/4 | €304,107 | €280,043 | -€24,064 | -7.9% |
| Amounts payable within one year | 42/48 | €151,949 | €149,073 | -€2,876 | -1.9% |
| Current portion of amounts payable after more than one year | 42 | €25,775 | €26,057 | +€282 | +1.1% |
| Trade debts | 44 | €69,718 | €38,655 | -€31,062 | -44.6% |
| Suppliers | 440/4 | €69,718 | €38,655 | -€31,062 | -44.6% |
| Taxes, remuneration and social security | 45 | €18,501 | €11,245 | -€7,256 | -39.2% |
| Taxes | 450/3 | €18,501 | €11,245 | -€7,256 | -39.2% |
| Other amounts payable | 47/48 | €37,955 | €73,115 | +€35,160 | +92.6% |
| Accrued charges and deferred income | 492/3 | €22,719 | €16,820 | -€5,899 | -26.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,808 | €112,064 | +€10,255 | +10.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€2,891 | -€2,891 | = | 0.0% |
| Other operating charges | 640/8 | €39,044 | €22,796 | -€16,249 | -41.6% |
| Gross operating margin | 9900 | €235,419 | €174,174 | -€61,244 | -26.0% |
| Operating profit (loss) | 9901 | €97,457 | €42,206 | -€55,251 | -56.7% |
| Financial income | 75/76B | €8,918 | €29,643 | +€20,725 | +232% |
| Recurring financial income | 75 | €8,218 | €30 | -€8,188 | -99.6% |
| Non-recurring financial income | 76B | €700 | €29,613 | +€28,913 | +4,130% |
| Financial charges | 65/66B | €24,207 | €17,348 | -€6,859 | -28.3% |
| Recurring financial charges | 65 | €24,207 | €17,348 | -€6,859 | -28.3% |
| Profit (loss) for the period before taxes | 9903 | €82,168 | €54,501 | -€27,668 | -33.7% |
| Income taxes | 67/77 | €40,475 | €18,106 | -€22,369 | -55.3% |
| Profit (loss) for the period | 9904 | €41,693 | €36,395 | -€5,299 | -12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €41,693 | €36,395 | -€5,299 | -12.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.