VERGOFOUR: 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.
VERGOFOUR
Largest movements
- Tangible fixed assets -€175,467
down €175,467 (-19.1%), from €920,296 to €744,829
of which Furniture and vehicles: -€112,306
- Cash -€110,278
down €110,278 (-87.5%), from €125,982 to €15,703
mainly Debts after one year (-€158,353) and Current portion of long-term debt (-€80,246)
- Receivables within one year +€68,630
up €68,630 (+32.8%), from €209,111 to €277,741
of which Trade receivables: +€51,786
- Debts after one year -€158,353
down €158,353 (-40.4%), from €391,492 to €233,139
- Current portion of long-term debt -€80,246
down €80,246 (-34.0%), from €236,265 to €156,019
- Other debts +€29,827
up €29,827 (+145%), from €20,500 to €50,327
- Staff costs -€100,000
down €100,000 (-32.9%), from €304,264 to €204,264
- Gross operating margin -€74,331
down €74,331 (-14.0%), from €531,995 to €457,664
- Depreciation +€25,889
up €25,889 (+16.9%), from €153,458 to €179,347
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 | €1,280,489 | €1,071,177 | -€209,312 | -16.3% |
| Fixed assets | 21/28 | €920,296 | €744,829 | -€175,467 | -19.1% |
| Tangible fixed assets | 22/27 | €920,296 | €744,829 | -€175,467 | -19.1% |
| Plant, machinery and equipment | 23 | €24,609 | €20,584 | -€4,025 | -16.4% |
| Furniture and vehicles | 24 | €614,791 | €502,485 | -€112,306 | -18.3% |
| Leasing and similar rights | 25 | €280,896 | €221,760 | -€59,136 | -21.1% |
| Current assets | 29/58 | €360,193 | €326,348 | -€33,845 | -9.4% |
| Stocks and contracts in progress | 3 | €14,616 | €15,807 | +€1,191 | +8.2% |
| Stocks | 30/36 | €14,616 | €15,807 | +€1,191 | +8.2% |
| Amounts receivable within one year | 40/41 | €209,111 | €277,741 | +€68,630 | +32.8% |
| Trade receivables | 40 | €179,449 | €231,235 | +€51,786 | +28.9% |
| Other amounts receivable | 41 | €29,662 | €46,506 | +€16,844 | +56.8% |
| Cash at bank and in hand | 54/58 | €125,982 | €15,703 | -€110,278 | -87.5% |
| Deferred charges and accrued income | 490/1 | €10,484 | €17,096 | +€6,612 | +63.1% |
| Total equity and liabilities | 10/49 | €1,280,489 | €1,071,177 | -€209,312 | -16.3% |
| Equity | 10/15 | €481,370 | €482,145 | +€775 | +0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €462,770 | €463,545 | +€775 | +0.2% |
| Tax-exempt reserves | 132 | €60,000 | €60,000 | = | 0.0% |
| Distributable reserves | 133 | €402,770 | €403,545 | +€775 | +0.2% |
| Amounts payable | 17/49 | €799,119 | €589,032 | -€210,087 | -26.3% |
| Amounts payable after more than one year | 17 | €391,492 | €233,139 | -€158,353 | -40.4% |
| Financial debts | 170/4 | €391,492 | €233,139 | -€158,353 | -40.4% |
| Amounts payable within one year | 42/48 | €406,175 | €354,394 | -€51,781 | -12.7% |
| Current portion of amounts payable after more than one year | 42 | €236,265 | €156,019 | -€80,246 | -34.0% |
| Financial debts | 43 | €15,382 | €11,764 | -€3,619 | -23.5% |
| Credit institutions | 430/8 | €15,382 | €11,764 | -€3,619 | -23.5% |
| Trade debts | 44 | €111,930 | €115,824 | +€3,895 | +3.5% |
| Suppliers | 440/4 | €111,930 | €115,824 | +€3,895 | +3.5% |
| Taxes, remuneration and social security | 45 | €22,097 | €20,459 | -€1,638 | -7.4% |
| Taxes | 450/3 | €263 | €6,330 | +€6,066 | +2,303% |
| Remuneration and social security | 454/9 | €21,834 | €14,130 | -€7,704 | -35.3% |
| Other amounts payable | 47/48 | €20,500 | €50,327 | +€29,827 | +145% |
| Accrued charges and deferred income | 492/3 | €1,452 | €1,500 | +€48 | +3.3% |
| Remuneration, social security and pensions | 62 | €304,264 | €204,264 | -€100,000 | -32.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €153,458 | €179,347 | +€25,889 | +16.9% |
| Other operating charges | 640/8 | €6,096 | €6,743 | +€647 | +10.6% |
| Gross operating margin | 9900 | €531,995 | €457,664 | -€74,331 | -14.0% |
| Operating profit (loss) | 9901 | €68,177 | €67,310 | -€867 | -1.3% |
| Financial income | 75/76B | €2,580 | €3,330 | +€750 | +29.1% |
| Recurring financial income | 75 | €2,580 | €3,330 | +€750 | +29.1% |
| Financial charges | 65/66B | €13,036 | €17,752 | +€4,717 | +36.2% |
| Recurring financial charges | 65 | €13,036 | €17,752 | +€4,717 | +36.2% |
| Profit (loss) for the period before taxes | 9903 | €57,722 | €52,888 | -€4,834 | -8.4% |
| Income taxes | 67/77 | €263 | €2,113 | +€1,849 | +702% |
| Profit (loss) for the period | 9904 | €57,458 | €50,775 | -€6,683 | -11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €57,458 | €50,775 | -€6,683 | -11.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.