Vergo Projects: 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 Projects
Largest movements
- Tangible fixed assets +€378,455
up €378,455 (+4,204%), from €9,003 to €387,458
of which Furniture and vehicles: +€270,455
- Receivables within one year +€43,395
up €43,395 (+105%), from €41,338 to €84,733
of which Trade receivables: +€44,461
- Cash -€18,527
no longer reported in 2025 (was €18,527)
mainly Investment in fixed assets (net) (-€428,709) and Receivables within one year (-€43,395)
- Deferred charges and accrued income +€10,428
up €10,428 (+2,964%), from €352 to €10,780
- Debts after one year +€195,499
new in 2025: €195,499
- Other debts +€84,024
up €84,024 (+256%), from €32,884 to €116,908
- Current portion of long-term debt +€48,738
new in 2025: €48,738
- Reserves +€46,108
up €46,108 (+179%), from €25,792 to €71,900
- Tax, wage and social debts +€20,742
up €20,742 (+597%), from €3,476 to €24,218
of which Remuneration and social security: +€11,132
- Gross operating margin +€194,726
up €194,726 (+1,215%), from €16,024 to €210,749
- Staff costs +€70,315
up €70,315 (+3,329%), from €2,112 to €72,427
- Depreciation +€47,914
up €47,914 (+1,759%), from €2,724 to €50,638
- Other operating charges +€17,254
up €17,254 (+1,879%), from €918 to €18,172
- Financial charges +€13,667
up €13,667 (+320%), from €4,270 to €17,937
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 | €71,112 | €484,478 | +€413,366 | +581% |
| Fixed assets | 21/28 | €10,895 | €388,965 | +€378,070 | +3,470% |
| Intangible fixed assets | 21 | €1,892 | €1,372 | -€520 | -27.5% |
| Tangible fixed assets | 22/27 | €9,003 | €387,458 | +€378,455 | +4,204% |
| Furniture and vehicles | 24 | €9,003 | €279,458 | +€270,455 | +3,004% |
| Leasing and similar rights | 25 | - | €108,000 | +€108,000 | |
| Financial fixed assets | 28 | - | €135 | +€135 | |
| Current assets | 29/58 | €60,217 | €95,513 | +€35,296 | +58.6% |
| Amounts receivable within one year | 40/41 | €41,338 | €84,733 | +€43,395 | +105% |
| Trade receivables | 40 | €39,476 | €83,937 | +€44,461 | +113% |
| Other amounts receivable | 41 | €1,862 | €796 | -€1,066 | -57.2% |
| Cash at bank and in hand | 54/58 | €18,527 | - | -€18,527 | |
| Deferred charges and accrued income | 490/1 | €352 | €10,780 | +€10,428 | +2,964% |
| Total equity and liabilities | 10/49 | €71,112 | €484,478 | +€413,366 | +581% |
| Equity | 10/15 | €30,792 | €76,900 | +€46,108 | +150% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €25,792 | €71,900 | +€46,108 | +179% |
| Distributable reserves | 133 | €25,792 | €71,900 | +€46,108 | +179% |
| Amounts payable | 17/49 | €40,320 | €407,578 | +€367,259 | +911% |
| Amounts payable after more than one year | 17 | - | €195,499 | +€195,499 | |
| Financial debts | 170/4 | - | €195,499 | +€195,499 | |
| Amounts payable within one year | 42/48 | €40,320 | €208,354 | +€168,035 | +417% |
| Current portion of amounts payable after more than one year | 42 | - | €48,738 | +€48,738 | |
| Financial debts | 43 | - | €11,170 | +€11,170 | |
| Credit institutions | 430/8 | - | €11,170 | +€11,170 | |
| Trade debts | 44 | €3,960 | €7,320 | +€3,360 | +84.9% |
| Suppliers | 440/4 | €3,960 | €7,320 | +€3,360 | +84.9% |
| Taxes, remuneration and social security | 45 | €3,476 | €24,218 | +€20,742 | +597% |
| Taxes | 450/3 | €3,476 | €13,086 | +€9,611 | +276% |
| Remuneration and social security | 454/9 | - | €11,132 | +€11,132 | |
| Other amounts payable | 47/48 | €32,884 | €116,908 | +€84,024 | +256% |
| Accrued charges and deferred income | 492/3 | - | €3,725 | +€3,725 | |
| Remuneration, social security and pensions | 62 | €2,112 | €72,427 | +€70,315 | +3,329% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,724 | €50,638 | +€47,914 | +1,759% |
| Other operating charges | 640/8 | €918 | €18,172 | +€17,254 | +1,879% |
| Gross operating margin | 9900 | €16,024 | €210,749 | +€194,726 | +1,215% |
| Operating profit (loss) | 9901 | €10,269 | €69,512 | +€59,243 | +577% |
| Financial income | 75/76B | €28 | €4,215 | +€4,188 | +15,168% |
| Recurring financial income | 75 | €28 | €4,215 | +€4,188 | +15,168% |
| Financial charges | 65/66B | €4,270 | €17,937 | +€13,667 | +320% |
| Recurring financial charges | 65 | €4,270 | €17,937 | +€13,667 | +320% |
| Profit (loss) for the period before taxes | 9903 | €6,026 | €55,790 | +€49,764 | +826% |
| Income taxes | 67/77 | €3,476 | €9,683 | +€6,207 | +179% |
| Profit (loss) for the period | 9904 | €2,551 | €46,108 | +€43,557 | +1,708% |
| Profit (loss) for the period to be appropriated | 9905 | €2,551 | €46,108 | +€43,557 | +1,708% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.