VergoMax: 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.
VergoMax
Largest movements
- Cash +€180,312
up €180,312 (+64.5%), from €279,478 to €459,790
mainly Net result for the year (+€209,302) and Current investments (+€100,000)
- Current investments -€100,000
down €100,000 (-100%), from €100,000 to €0
- Stocks and contracts -€28,025
down €28,025 (-93.4%), from €30,000 to €1,975
- Tangible fixed assets -€17,696
down €17,696 (-20.9%), from €84,814 to €67,118
of which Furniture and vehicles: -€10,010
- Receivables within one year +€10,612
up €10,612 (+11.7%), from €90,656 to €101,267
of which Other amounts receivable: +€27,946
- Reserves +€195,300
up €195,300 (+62.2%), from €314,160 to €509,460
of which Tax-exempt reserves: +€126,300
- Trade debts -€113,657
down €113,657 (-49.5%), from €229,608 to €115,951
- Other debts -€18,187
down €18,187 (-100%), from €18,187 to €0
- Tax, wage and social debts -€16,948
down €16,948 (-100%), from €16,948 to €0
- Gross operating margin -€68,328
down €68,328 (-17.4%), from €392,616 to €324,288
- Taxes -€22,155
down €22,155 (-21.5%), from €103,035 to €80,881
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 | €585,703 | €631,822 | +€46,119 | +7.9% |
| Fixed assets | 21/28 | €84,854 | €67,158 | -€17,696 | -20.9% |
| Tangible fixed assets | 22/27 | €84,814 | €67,118 | -€17,696 | -20.9% |
| Land and buildings | 22 | €10,528 | €8,825 | -€1,703 | -16.2% |
| Plant, machinery and equipment | 23 | €23,488 | €17,505 | -€5,982 | -25.5% |
| Furniture and vehicles | 24 | €49,049 | €39,038 | -€10,010 | -20.4% |
| Other tangible fixed assets | 26 | €1,750 | €1,750 | = | 0.0% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €500,849 | €564,664 | +€63,815 | +12.7% |
| Stocks and contracts in progress | 3 | €30,000 | €1,975 | -€28,025 | -93.4% |
| Contracts in progress | 37 | €30,000 | €1,975 | -€28,025 | -93.4% |
| Amounts receivable within one year | 40/41 | €90,656 | €101,267 | +€10,612 | +11.7% |
| Trade receivables | 40 | €90,363 | €73,029 | -€17,335 | -19.2% |
| Other amounts receivable | 41 | €292 | €28,238 | +€27,946 | +9,563% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100% |
| Cash at bank and in hand | 54/58 | €279,478 | €459,790 | +€180,312 | +64.5% |
| Deferred charges and accrued income | 490/1 | €715 | €1,632 | +€917 | +128% |
| Total equity and liabilities | 10/49 | €585,703 | €631,822 | +€46,119 | +7.9% |
| Equity | 10/15 | €315,327 | €510,880 | +€195,552 | +62.0% |
| Reserves | 13 | €314,160 | €509,460 | +€195,300 | +62.2% |
| Tax-exempt reserves | 132 | €126,300 | €252,600 | +€126,300 | +100% |
| Distributable reserves | 133 | €187,860 | €256,860 | +€69,000 | +36.7% |
| Profit (loss) carried forward | 14 | €1,167 | €1,420 | +€252 | +21.6% |
| Amounts payable | 17/49 | €270,376 | €120,943 | -€149,433 | -55.3% |
| Amounts payable within one year | 42/48 | €264,743 | €115,951 | -€148,792 | -56.2% |
| Trade debts | 44 | €229,608 | €115,951 | -€113,657 | -49.5% |
| Suppliers | 440/4 | €229,608 | €115,951 | -€113,657 | -49.5% |
| Taxes, remuneration and social security | 45 | €16,948 | €0 | -€16,948 | -100% |
| Taxes | 450/3 | €16,948 | €0 | -€16,948 | -100% |
| Other amounts payable | 47/48 | €18,187 | €0 | -€18,187 | -100% |
| Accrued charges and deferred income | 492/3 | €5,632 | €4,991 | -€641 | -11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,085 | €33,976 | +€2,891 | +9.3% |
| Other operating charges | 640/8 | €1,055 | €1,197 | +€142 | +13.5% |
| Gross operating margin | 9900 | €392,616 | €324,288 | -€68,328 | -17.4% |
| Operating profit (loss) | 9901 | €360,476 | €289,115 | -€71,360 | -19.8% |
| Financial income | 75/76B | €2,496 | €2,293 | -€203 | -8.1% |
| Recurring financial income | 75 | €2,496 | €2,293 | -€203 | -8.1% |
| Financial charges | 65/66B | €3,660 | €1,225 | -€2,434 | -66.5% |
| Recurring financial charges | 65 | €3,660 | €1,225 | -€2,434 | -66.5% |
| Profit (loss) for the period before taxes | 9903 | €359,312 | €290,183 | -€69,129 | -19.2% |
| Income taxes | 67/77 | €103,035 | €80,881 | -€22,155 | -21.5% |
| Profit (loss) for the period | 9904 | €256,276 | €209,302 | -€46,974 | -18.3% |
| Transfer to tax-exempt reserves | 689 | €126,300 | €126,300 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €129,976 | €83,002 | -€46,974 | -36.1% |
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 22 October 2026 via checked.be.