VERGO CONSTRUCT: 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.
VERGO CONSTRUCT
Largest movements
- Financial fixed assets +€254,875
new in 2025: €254,875
- Receivables within one year -€22,054
down €22,054 (-63.0%), from €35,028 to €12,974
of which Trade receivables: -€27,128
- Debts after one year +€135,666
up €135,666 (+686.8%), from €19,754 to €155,420
- Other debts +€66,087
up €66,087 (+1031.5%), from €6,407 to €72,494
- Current portion of long-term debt +€37,403
up €37,403 (+475.3%), from €7,870 to €45,272
- Reserves +€7,544
up €7,544 (+22.5%), from €33,486 to €41,030
- Tax, wage and social debts -€6,756
down €6,756 (-37.4%), from €18,084 to €11,327
- Gross operating margin -€22,347
down €22,347 (-32.6%), from €68,624 to €46,277
- Financial charges +€7,833
up €7,833 (+341.2%), from €2,296 to €10,129
- Taxes -€7,731
down €7,731 (-60.1%), from €12,873 to €5,142
- Depreciation +€2,718
up €2,718 (+16.6%), from €16,402 to €19,121
- Staff costs -€1,213
no longer reported in 2025 (was €1,213)
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 | €98,837 | €336,394 | +€237,557 | +240.4% |
| Fixed assets | 21/28 | €52,239 | €309,765 | +€257,526 | +493.0% |
| Tangible fixed assets | 22/27 | €52,239 | €54,890 | +€2,651 | +5.1% |
| Plant, machinery and equipment | 23 | €1,081 | €123 | -€958 | -88.6% |
| Furniture and vehicles | 24 | €51,158 | €54,767 | +€3,609 | +7.1% |
| Financial fixed assets | 28 | - | €254,875 | +€254,875 | |
| Current assets | 29/58 | €46,598 | €26,629 | -€19,969 | -42.9% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €35,028 | €12,974 | -€22,054 | -63.0% |
| Trade receivables | 40 | €35,028 | €7,900 | -€27,128 | -77.4% |
| Other amounts receivable | 41 | €0 | €5,074 | +€5,074 | |
| Cash at bank and in hand | 54/58 | €10,352 | €11,635 | +€1,283 | +12.4% |
| Deferred charges and accrued income | 490/1 | €1,219 | €2,021 | +€802 | +65.8% |
| Total equity and liabilities | 10/49 | €98,837 | €336,394 | +€237,557 | +240.4% |
| Equity | 10/15 | €36,486 | €44,039 | +€7,553 | +20.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €33,486 | €41,030 | +€7,544 | +22.5% |
| Distributable reserves | 133 | €33,486 | €41,030 | +€7,544 | +22.5% |
| Profit (loss) carried forward | 14 | €0 | €9 | +€9 | |
| Amounts payable | 17/49 | €62,351 | €292,355 | +€230,004 | +368.9% |
| Amounts payable after more than one year | 17 | €19,754 | €155,420 | +€135,666 | +686.8% |
| Financial debts | 170/4 | €19,754 | €155,420 | +€135,666 | +686.8% |
| Amounts payable within one year | 42/48 | €41,397 | €136,935 | +€95,538 | +230.8% |
| Current portion of amounts payable after more than one year | 42 | €7,870 | €45,272 | +€37,403 | +475.3% |
| Trade debts | 44 | €9,038 | €7,842 | -€1,196 | -13.2% |
| Suppliers | 440/4 | €9,038 | €7,842 | -€1,196 | -13.2% |
| Taxes, remuneration and social security | 45 | €18,084 | €11,327 | -€6,756 | -37.4% |
| Taxes | 450/3 | €18,084 | €11,327 | -€6,756 | -37.4% |
| Other amounts payable | 47/48 | €6,407 | €72,494 | +€66,087 | +1031.5% |
| Accrued charges and deferred income | 492/3 | €1,200 | €0 | -€1,200 | -100.0% |
| Remuneration, social security and pensions | 62 | €1,213 | - | -€1,213 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,402 | €19,121 | +€2,718 | +16.6% |
| Other operating charges | 640/8 | €3,301 | €4,365 | +€1,065 | +32.3% |
| Non-recurring operating charges | 66A | €128 | €0 | -€128 | -100.0% |
| Gross operating margin | 9900 | €68,624 | €46,277 | -€22,347 | -32.6% |
| Operating profit (loss) | 9901 | €47,580 | €22,791 | -€24,789 | -52.1% |
| Financial income | 75/76B | €1,075 | €33 | -€1,043 | -97.0% |
| Recurring financial income | 75 | €1,075 | €33 | -€1,043 | -97.0% |
| Financial charges | 65/66B | €2,296 | €10,129 | +€7,833 | +341.2% |
| Recurring financial charges | 65 | €2,296 | €10,129 | +€7,833 | +341.2% |
| Profit (loss) for the period before taxes | 9903 | €46,359 | €12,695 | -€33,664 | -72.6% |
| Income taxes | 67/77 | €12,873 | €5,142 | -€7,731 | -60.1% |
| Profit (loss) for the period | 9904 | €33,486 | €7,553 | -€25,933 | -77.4% |
| Profit (loss) for the period to be appropriated | 9905 | €33,486 | €7,553 | -€25,933 | -77.4% |
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 6 October 2026 via checked.be.