VERCU TRANS: 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.
VERCU TRANS
Largest movements
- Tangible fixed assets +€44,215
new in 2025: €44,215
- Cash -€23,662
down €23,662 (-55.8%), from €42,375 to €18,713
mainly Investment in fixed assets (net) (-€45,080) and Receivables within one year (-€13,665)
- Receivables within one year +€13,665
up €13,665 (+145.2%), from €9,413 to €23,078
of which Trade receivables: +€12,467
- Reserves +€16,605
up €16,605 (+26.3%), from €63,173 to €79,778
- Debts after one year +€13,013
new in 2025: €13,013
- Current portion of long-term debt +€7,369
up €7,369 (+363.2%), from €2,029 to €9,398
- Tax, wage and social debts -€1,822
down €1,822 (-52.1%), from €3,498 to €1,676
- Gross operating margin +€3,977
up €3,977 (+18.5%), from €21,448 to €25,426
- Depreciation +€865
new in 2025: €865
- Taxes +€794
up €794 (+13.5%), from €5,882 to €6,676
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.
Cash bridge derived
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 | €80,666 | €115,514 | +€34,849 | +43.2% |
| Fixed assets | 21/28 | €1,500 | €45,715 | +€44,215 | +2947.7% |
| Tangible fixed assets | 22/27 | - | €44,215 | +€44,215 | |
| Furniture and vehicles | 24 | - | €44,215 | +€44,215 | |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €79,166 | €69,799 | -€9,366 | -11.8% |
| Amounts receivable after more than one year | 29 | €25,000 | €25,000 | = | 0.0% |
| Other amounts receivable | 291 | €25,000 | €25,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €9,413 | €23,078 | +€13,665 | +145.2% |
| Trade receivables | 40 | €9,413 | €21,880 | +€12,467 | +132.4% |
| Other amounts receivable | 41 | - | €1,197 | +€1,197 | |
| Cash at bank and in hand | 54/58 | €42,375 | €18,713 | -€23,662 | -55.8% |
| Deferred charges and accrued income | 490/1 | €2,377 | €3,008 | +€631 | +26.5% |
| Total equity and liabilities | 10/49 | €80,666 | €115,514 | +€34,849 | +43.2% |
| Equity | 10/15 | €69,373 | €85,978 | +€16,605 | +23.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €63,173 | €79,778 | +€16,605 | +26.3% |
| Distributable reserves | 133 | €63,173 | €79,778 | +€16,605 | +26.3% |
| Amounts payable | 17/49 | €11,292 | €29,536 | +€18,244 | +161.6% |
| Amounts payable after more than one year | 17 | - | €13,013 | +€13,013 | |
| Financial debts | 170/4 | - | €13,013 | +€13,013 | |
| Amounts payable within one year | 42/48 | €11,292 | €16,523 | +€5,231 | +46.3% |
| Current portion of amounts payable after more than one year | 42 | €2,029 | €9,398 | +€7,369 | +363.2% |
| Trade debts | 44 | €5,705 | €5,449 | -€255 | -4.5% |
| Suppliers | 440/4 | €5,705 | €5,449 | -€255 | -4.5% |
| Taxes, remuneration and social security | 45 | €3,498 | €1,676 | -€1,822 | -52.1% |
| Taxes | 450/3 | €3,498 | €1,676 | -€1,822 | -52.1% |
| Other amounts payable | 47/48 | €60 | - | -€60 | |
| Non-recurring operating income | 76A | - | €1,000 | +€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €865 | +€865 | |
| Other operating charges | 640/8 | €741 | €640 | -€101 | -13.6% |
| Gross operating margin | 9900 | €21,448 | €25,426 | +€3,977 | +18.5% |
| Operating profit (loss) | 9901 | €20,707 | €23,921 | +€3,214 | +15.5% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €582 | €645 | +€63 | +10.8% |
| Recurring financial charges | 65 | €582 | €645 | +€63 | +10.8% |
| Profit (loss) for the period before taxes | 9903 | €20,125 | €23,281 | +€3,156 | +15.7% |
| Income taxes | 67/77 | €5,882 | €6,676 | +€794 | +13.5% |
| Profit (loss) for the period | 9904 | €14,243 | €16,605 | +€2,362 | +16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,243 | €16,605 | +€2,362 | +16.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.