Vergo: 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.
Vergo
Largest movements
- Receivables within one year -€504,531
down €504,531 (-28.2%), from €1.8m to €1.3m
of which Trade receivables: -€608,423
- Tangible fixed assets +€265,821
up €265,821 (+18.4%), from €1.4m to €1.7m
of which Furniture and vehicles: +€360,597
- Cash +€101,385
up €101,385 (+16.4%), from €617,920 to €719,305
mainly Receivables within one year (+€504,531) and Depreciation (+€369,096)
- Short-term financial debts -€95,000
down €95,000 (-100%), from €95,000 to €0
- Tax, wage and social debts -€94,453
down €94,453 (-51.7%), from €182,754 to €88,301
of which Taxes: -€78,776
- Other debts +€60,906
up €60,906 (+141%), from €43,243 to €104,149
- Profit (loss) carried forward +€55,223
up €55,223 (+5.0%), from €1.1m to €1.1m
- Debts after one year -€49,905
down €49,905 (-6.6%), from €759,674 to €709,769
of which Financial debts: -€140,905
- Gross operating margin +€102,779
up €102,779 (+4.7%), from €2.2m to €2.3m
- Depreciation +€99,699
up €99,699 (+37.0%), from €269,398 to €369,096
- Staff costs +€42,795
up €42,795 (+2.5%), from €1.7m to €1.7m
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 | €3,915,555 | €3,776,791 | -€138,764 | -3.5% |
| Fixed assets | 21/28 | €1,444,872 | €1,715,193 | +€270,321 | +18.7% |
| Tangible fixed assets | 22/27 | €1,443,742 | €1,709,563 | +€265,821 | +18.4% |
| Land and buildings | 22 | €703,070 | €618,143 | -€84,927 | -12.1% |
| Plant, machinery and equipment | 23 | €328,641 | €318,792 | -€9,849 | -3.0% |
| Furniture and vehicles | 24 | €412,031 | €772,627 | +€360,597 | +87.5% |
| Financial fixed assets | 28 | €1,130 | €5,630 | +€4,500 | +398% |
| Current assets | 29/58 | €2,470,684 | €2,061,598 | -€409,086 | -16.6% |
| Stocks and contracts in progress | 3 | €8,200 | €8,200 | = | 0.0% |
| Stocks | 30/36 | €8,200 | €8,200 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,792,094 | €1,287,563 | -€504,531 | -28.2% |
| Trade receivables | 40 | €1,565,375 | €956,952 | -€608,423 | -38.9% |
| Other amounts receivable | 41 | €226,719 | €330,612 | +€103,892 | +45.8% |
| Cash at bank and in hand | 54/58 | €617,920 | €719,305 | +€101,385 | +16.4% |
| Deferred charges and accrued income | 490/1 | €52,469 | €46,530 | -€5,939 | -11.3% |
| Total equity and liabilities | 10/49 | €3,915,555 | €3,776,791 | -€138,764 | -3.5% |
| Equity | 10/15 | €1,837,630 | €1,925,720 | +€88,090 | +4.8% |
| Contributions | 10/11 | €64,935 | €64,935 | = | 0.0% |
| Reserves | 13 | €678,288 | €711,155 | +€32,867 | +4.8% |
| Non-distributable reserves | 130/1 | €6,494 | €6,494 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,494 | €6,494 | = | 0.0% |
| Tax-exempt reserves | 132 | €671,795 | €704,662 | +€32,867 | +4.9% |
| Profit (loss) carried forward | 14 | €1,094,407 | €1,149,630 | +€55,223 | +5.0% |
| Amounts payable | 17/49 | €2,077,926 | €1,851,071 | -€226,854 | -10.9% |
| Amounts payable after more than one year | 17 | €759,674 | €709,769 | -€49,905 | -6.6% |
| Financial debts | 170/4 | €459,674 | €318,769 | -€140,905 | -30.7% |
| Other amounts payable | 178/9 | €300,000 | €391,000 | +€91,000 | +30.3% |
| Amounts payable within one year | 42/48 | €1,079,792 | €943,449 | -€136,343 | -12.6% |
| Current portion of amounts payable after more than one year | 42 | €139,016 | €140,905 | +€1,889 | +1.4% |
| Financial debts | 43 | €95,000 | €0 | -€95,000 | -100% |
| Credit institutions | 430/8 | €95,000 | €0 | -€95,000 | -100% |
| Trade debts | 44 | €619,778 | €610,094 | -€9,685 | -1.6% |
| Suppliers | 440/4 | €619,778 | €610,094 | -€9,685 | -1.6% |
| Taxes, remuneration and social security | 45 | €182,754 | €88,301 | -€94,453 | -51.7% |
| Taxes | 450/3 | €78,851 | €75 | -€78,776 | -99.9% |
| Remuneration and social security | 454/9 | €103,904 | €88,226 | -€15,677 | -15.1% |
| Other amounts payable | 47/48 | €43,243 | €104,149 | +€60,906 | +141% |
| Accrued charges and deferred income | 492/3 | €238,459 | €197,853 | -€40,606 | -17.0% |
| Non-recurring operating income | 76A | €43,400 | €38,900 | -€4,500 | -10.4% |
| Remuneration, social security and pensions | 62 | €1,693,919 | €1,736,714 | +€42,795 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €269,398 | €369,096 | +€99,699 | +37.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,232 | €0 | -€9,232 | -100% |
| Other operating charges | 640/8 | €41,589 | €39,357 | -€2,232 | -5.4% |
| Gross operating margin | 9900 | €2,169,295 | €2,272,075 | +€102,779 | +4.7% |
| Operating profit (loss) | 9901 | €155,158 | €126,908 | -€28,251 | -18.2% |
| Financial income | 75/76B | €3,043 | €3,238 | +€195 | +6.4% |
| Recurring financial income | 75 | €3,043 | €3,238 | +€195 | +6.4% |
| Financial charges | 65/66B | €25,567 | €30,862 | +€5,296 | +20.7% |
| Recurring financial charges | 65 | €25,567 | €30,862 | +€5,296 | +20.7% |
| Profit (loss) for the period before taxes | 9903 | €132,635 | €99,283 | -€33,352 | -25.1% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €26,970 | €11,193 | -€15,777 | -58.5% |
| Profit (loss) for the period | 9904 | €105,664 | €88,090 | -€17,574 | -16.6% |
| Transfer from tax-exempt reserves | 789 | €11,184 | €6,033 | -€5,151 | -46.1% |
| Transfer to tax-exempt reserves | 689 | €35,900 | €38,900 | +€3,000 | +8.4% |
| Profit (loss) for the period to be appropriated | 9905 | €80,948 | €55,223 | -€25,725 | -31.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.