VERGORENT: 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.
VERGORENT
Largest movements
- Cash +€66,709
up €66,709 (+20.5%), from €324,639 to €391,348
mainly Depreciation (+€42,036) and Net result for the year (+€33,000)
- Tangible fixed assets -€42,036
down €42,036 (-3.4%), from €1.2m to €1.2m
of which Land and buildings: -€40,969
- Reserves +€33,000
up €33,000 (+3.5%), from €934,412 to €967,412
of which Distributable reserves: +€38,383
- Gross operating margin +€17,451
up €17,451 (+18.7%), from €93,107 to €110,558
- Other operating charges -€13,613
down €13,613 (-36.7%), from €37,124 to €23,511
- Taxes +€8,259
up €8,259 (+155%), from €5,319 to €13,578
- Depreciation -€3,126
down €3,126 (-6.9%), from €45,162 to €42,036
- Financial income -€2,373
down €2,373 (-100.0%), from €2,373 to €0
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 | €1,568,425 | €1,606,324 | +€37,899 | +2.4% |
| Fixed assets | 21/28 | €1,222,300 | €1,180,264 | -€42,036 | -3.4% |
| Tangible fixed assets | 22/27 | €1,222,300 | €1,180,264 | -€42,036 | -3.4% |
| Land and buildings | 22 | €1,214,980 | €1,174,011 | -€40,969 | -3.4% |
| Plant, machinery and equipment | 23 | €7,321 | €6,253 | -€1,068 | -14.6% |
| Current assets | 29/58 | €346,125 | €426,060 | +€79,935 | +23.1% |
| Amounts receivable within one year | 40/41 | €21,486 | €34,712 | +€13,226 | +61.6% |
| Trade receivables | 40 | €19,555 | €34,462 | +€14,907 | +76.2% |
| Other amounts receivable | 41 | €1,931 | €250 | -€1,681 | -87.1% |
| Cash at bank and in hand | 54/58 | €324,639 | €391,348 | +€66,709 | +20.5% |
| Total equity and liabilities | 10/49 | €1,568,425 | €1,606,324 | +€37,899 | +2.4% |
| Equity | 10/15 | €1,516,412 | €1,549,412 | +€33,000 | +2.2% |
| Contributions | 10/11 | €582,000 | €582,000 | = | 0.0% |
| Capital | 10 | €582,000 | €582,000 | = | 0.0% |
| Issued capital | 100 | €582,000 | €582,000 | = | 0.0% |
| Reserves | 13 | €934,412 | €967,412 | +€33,000 | +3.5% |
| Non-distributable reserves | 130/1 | €58,200 | €58,200 | = | 0.0% |
| Legal reserve | 130 | €58,200 | €58,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €160,626 | €155,243 | -€5,383 | -3.4% |
| Distributable reserves | 133 | €715,586 | €753,969 | +€38,383 | +5.4% |
| Provisions and deferred taxes | 16 | €47,184 | €45,389 | -€1,794 | -3.8% |
| Deferred taxes | 168 | €47,184 | €45,389 | -€1,794 | -3.8% |
| Amounts payable | 17/49 | €4,830 | €11,523 | +€6,693 | +139% |
| Amounts payable within one year | 42/48 | €4,830 | €11,523 | +€6,693 | +139% |
| Taxes, remuneration and social security | 45 | €2,334 | €5,427 | +€3,093 | +133% |
| Taxes | 450/3 | €2,334 | €5,427 | +€3,093 | +133% |
| Other amounts payable | 47/48 | €2,496 | €6,096 | +€3,600 | +144% |
| Non-recurring operating income | 76A | €3,306 | - | -€3,306 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,162 | €42,036 | -€3,126 | -6.9% |
| Other operating charges | 640/8 | €37,124 | €23,511 | -€13,613 | -36.7% |
| Gross operating margin | 9900 | €93,107 | €110,558 | +€17,451 | +18.7% |
| Operating profit (loss) | 9901 | €10,821 | €45,011 | +€34,189 | +316% |
| Financial income | 75/76B | €2,373 | €0 | -€2,373 | -100.0% |
| Recurring financial income | 75 | €2,373 | €0 | -€2,373 | -100.0% |
| Financial charges | 65/66B | €244 | €227 | -€17 | -7.0% |
| Recurring financial charges | 65 | €244 | €227 | -€17 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €12,951 | €44,784 | +€31,833 | +246% |
| Transfer from deferred taxes | 780 | €1,794 | €1,794 | = | 0.0% |
| Income taxes | 67/77 | €5,319 | €13,578 | +€8,259 | +155% |
| Profit (loss) for the period | 9904 | €9,426 | €33,000 | +€23,574 | +250% |
| Transfer from tax-exempt reserves | 789 | €5,383 | €5,383 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,809 | €38,383 | +€23,574 | +159% |
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 16 October 2026 via checked.be.