VERGODAN: 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.
VERGODAN
Largest movements
- Cash -€31,337
down €31,337 (-67.4%), from €46,478 to €15,140
mainly Debts after one year (-€19,283) and Net result for the year (-€9,241)
- Receivables within one year +€2,846
up €2,846 (+16.9%), from €16,800 to €19,646
- Debts after one year -€19,283
down €19,283 (-42.6%), from €45,276 to €25,993
- Profit (loss) carried forward -€9,241
down €9,241 (-6.2%), from -€148,610 to -€157,852
- Other debts -€1,352
down €1,352 (-100.0%), from €1,352 to €0
- Current portion of long-term debt +€1,250
up €1,250 (+6.9%), from €18,033 to €19,283
- Gross operating margin -€11,663
down €11,663, from €9,906 to -€1,757
- Other operating charges -€1,626
down €1,626 (-30.5%), from €5,323 to €3,697
- Financial charges -€1,452
down €1,452 (-27.2%), from €5,347 to €3,895
- Financial income +€181
up €181 (+108.7%), from €166 to €347
- Taxes -€157
down €157 (-39.7%), from €396 to €238
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 | €63,277 | €34,786 | -€28,491 | -45.0% |
| Fixed assets | 21/28 | €0 | - | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €63,277 | €34,786 | -€28,491 | -45.0% |
| Amounts receivable within one year | 40/41 | €16,800 | €19,646 | +€2,846 | +16.9% |
| Other amounts receivable | 41 | €16,800 | €19,646 | +€2,846 | +16.9% |
| Cash at bank and in hand | 54/58 | €46,478 | €15,140 | -€31,337 | -67.4% |
| Total equity and liabilities | 10/49 | €63,277 | €34,786 | -€28,491 | -45.0% |
| Equity | 10/15 | -€1,564 | -€10,805 | -€9,241 | -591.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €140,847 | €140,847 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €138,987 | €138,987 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€148,610 | -€157,852 | -€9,241 | -6.2% |
| Amounts payable | 17/49 | €64,841 | €45,591 | -€19,250 | -29.7% |
| Amounts payable after more than one year | 17 | €45,276 | €25,993 | -€19,283 | -42.6% |
| Financial debts | 170/4 | €45,276 | €25,993 | -€19,283 | -42.6% |
| Amounts payable within one year | 42/48 | €19,565 | €19,598 | +€32 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €18,033 | €19,283 | +€1,250 | +6.9% |
| Taxes, remuneration and social security | 45 | €181 | €315 | +€134 | +74.3% |
| Taxes | 450/3 | €181 | €315 | +€134 | +74.3% |
| Other amounts payable | 47/48 | €1,352 | €0 | -€1,352 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €5,323 | €3,697 | -€1,626 | -30.5% |
| Gross operating margin | 9900 | €9,906 | -€1,757 | -€11,663 | |
| Operating profit (loss) | 9901 | €4,583 | -€5,455 | -€10,037 | |
| Financial income | 75/76B | €166 | €347 | +€181 | +108.7% |
| Recurring financial income | 75 | €166 | €347 | +€181 | +108.7% |
| Financial charges | 65/66B | €5,347 | €3,895 | -€1,452 | -27.2% |
| Recurring financial charges | 65 | €5,347 | €3,895 | -€1,452 | -27.2% |
| Profit (loss) for the period before taxes | 9903 | -€598 | -€9,003 | -€8,404 | -1404.8% |
| Income taxes | 67/77 | €396 | €238 | -€157 | -39.7% |
| Profit (loss) for the period | 9904 | -€994 | -€9,241 | -€8,247 | -829.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€994 | -€9,241 | -€8,247 | -829.7% |
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.