Vergecon: what changed
Two fiscal 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.
Vergecon
Largest movements
- Cash +€66,872
up €66,872 (+71.9%), from €92,981 to €159,853
mainly Net result for the year (+€76,429) and Depreciation (+€17,339)
- Tangible fixed assets -€13,729
down €13,729 (-21.0%), from €65,511 to €51,781
of which Furniture and vehicles: -€12,958
- Receivables within one year +€10,880
up €10,880 (+26.7%), from €40,773 to €51,653
of which Other amounts receivable: +€7,867
- Reserves +€76,429
up €76,429 (+59.4%), from €128,647 to €205,076
- Current portion of long-term debt -€18,838
down €18,838 (-100.0%), from €18,838 to €0
- Trade debts +€5,918
up €5,918 (+363.8%), from €1,627 to €7,544
- Gross operating margin -€73,213
down €73,213 (-38.7%), from €188,962 to €115,749
- Taxes -€16,762
down €16,762 (-44.2%), from €37,932 to €21,170
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 | €199,264 | €265,147 | +€65,883 | +33.1% |
| Fixed assets | 21/28 | €65,511 | €51,781 | -€13,729 | -21.0% |
| Tangible fixed assets | 22/27 | €65,511 | €51,781 | -€13,729 | -21.0% |
| Plant, machinery and equipment | 23 | €2,936 | €2,165 | -€771 | -26.3% |
| Furniture and vehicles | 24 | €62,574 | €49,616 | -€12,958 | -20.7% |
| Current assets | 29/58 | €133,754 | €213,366 | +€79,612 | +59.5% |
| Amounts receivable within one year | 40/41 | €40,773 | €51,653 | +€10,880 | +26.7% |
| Trade receivables | 40 | €36,807 | €39,820 | +€3,014 | +8.2% |
| Other amounts receivable | 41 | €3,966 | €11,833 | +€7,867 | +198.4% |
| Cash at bank and in hand | 54/58 | €92,981 | €159,853 | +€66,872 | +71.9% |
| Deferred charges and accrued income | 490/1 | - | €1,860 | +€1,860 | |
| Total equity and liabilities | 10/49 | €199,264 | €265,147 | +€65,883 | +33.1% |
| Equity | 10/15 | €132,647 | €209,076 | +€76,429 | +57.6% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €128,647 | €205,076 | +€76,429 | +59.4% |
| Distributable reserves | 133 | €128,647 | €205,076 | +€76,429 | +59.4% |
| Amounts payable | 17/49 | €66,617 | €56,071 | -€10,546 | -15.8% |
| Amounts payable within one year | 42/48 | €66,617 | €56,071 | -€10,546 | -15.8% |
| Current portion of amounts payable after more than one year | 42 | €18,838 | €0 | -€18,838 | -100.0% |
| Trade debts | 44 | €1,627 | €7,544 | +€5,918 | +363.8% |
| Suppliers | 440/4 | €1,627 | €7,544 | +€5,918 | +363.8% |
| Taxes, remuneration and social security | 45 | €46,152 | €48,527 | +€2,375 | +5.1% |
| Taxes | 450/3 | €42,917 | €48,527 | +€5,609 | +13.1% |
| Remuneration and social security | 454/9 | €3,235 | €0 | -€3,235 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,816 | €17,339 | -€1,476 | -7.8% |
| Other operating charges | 640/8 | €1,282 | €440 | -€842 | -65.7% |
| Gross operating margin | 9900 | €188,962 | €115,749 | -€73,213 | -38.7% |
| Operating profit (loss) | 9901 | €168,864 | €97,970 | -€70,895 | -42.0% |
| Financial income | 75/76B | €84 | €261 | +€177 | +209.6% |
| Recurring financial income | 75 | €84 | €261 | +€177 | +209.6% |
| Financial charges | 65/66B | €2,369 | €632 | -€1,737 | -73.3% |
| Recurring financial charges | 65 | €2,369 | €632 | -€1,737 | -73.3% |
| Profit (loss) for the period before taxes | 9903 | €166,579 | €97,599 | -€68,980 | -41.4% |
| Income taxes | 67/77 | €37,932 | €21,170 | -€16,762 | -44.2% |
| Profit (loss) for the period | 9904 | €128,647 | €76,429 | -€52,218 | -40.6% |
| Profit (loss) for the period to be appropriated | 9905 | €128,647 | €76,429 | -€52,218 | -40.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.