VERGUCO: 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.
VERGUCO
Largest movements
- Current investments +€91,702
up €91,702 (+50.8%), from €180,469 to €272,171
- Tangible fixed assets -€76,226
down €76,226 (-4.5%), from €1.7m to €1.6m
of which Land and buildings: -€69,124
- Debts after one year -€212,815
down €212,815 (-25.5%), from €835,430 to €622,615
- Reserves +€209,192
up €209,192 (+18.3%), from €1.1m to €1.4m
of which Distributable reserves: +€209,192
- Gross operating margin +€97,866
up €97,866 (+36.2%), from €270,029 to €367,895
- Taxes +€40,664
up €40,664 (+103%), from €39,490 to €80,154
- Financial charges -€17,977
down €17,977 (-31.4%), from €57,215 to €39,238
- Depreciation -€9,319
down €9,319 (-10.9%), from €85,545 to €76,226
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 | €2,378,240 | €2,397,093 | +€18,853 | +0.8% |
| Fixed assets | 21/28 | €2,183,016 | €2,106,790 | -€76,226 | -3.5% |
| Tangible fixed assets | 22/27 | €1,683,016 | €1,606,790 | -€76,226 | -4.5% |
| Land and buildings | 22 | €1,644,672 | €1,575,548 | -€69,124 | -4.2% |
| Plant, machinery and equipment | 23 | €18,320 | €12,986 | -€5,334 | -29.1% |
| Furniture and vehicles | 24 | €9,033 | €7,266 | -€1,768 | -19.6% |
| Other tangible fixed assets | 26 | €10,991 | €10,991 | = | 0.0% |
| Financial fixed assets | 28 | €500,000 | €500,000 | = | 0.0% |
| Current assets | 29/58 | €195,224 | €290,303 | +€95,079 | +48.7% |
| Amounts receivable within one year | 40/41 | €430 | €2,310 | +€1,880 | +437% |
| Trade receivables | 40 | €340 | €2,220 | +€1,880 | +553% |
| Other amounts receivable | 41 | €90 | €90 | = | 0.0% |
| Current investments | 50/53 | €180,469 | €272,171 | +€91,702 | +50.8% |
| Cash at bank and in hand | 54/58 | €7,440 | €13,361 | +€5,921 | +79.6% |
| Deferred charges and accrued income | 490/1 | €6,884 | €2,461 | -€4,424 | -64.3% |
| Total equity and liabilities | 10/49 | €2,378,240 | €2,397,093 | +€18,853 | +0.8% |
| Equity | 10/15 | €1,394,746 | €1,603,938 | +€209,192 | +15.0% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €1,144,746 | €1,353,938 | +€209,192 | +18.3% |
| Non-distributable reserves | 130/1 | €37,960 | €37,960 | = | 0.0% |
| Reserves not available under the articles | 1311 | €37,960 | €37,960 | = | 0.0% |
| Distributable reserves | 133 | €1,106,786 | €1,315,978 | +€209,192 | +18.9% |
| Amounts payable | 17/49 | €983,494 | €793,155 | -€190,339 | -19.4% |
| Amounts payable after more than one year | 17 | €835,430 | €622,615 | -€212,815 | -25.5% |
| Financial debts | 170/4 | €835,430 | €622,615 | -€212,815 | -25.5% |
| Amounts payable within one year | 42/48 | €147,289 | €169,742 | +€22,453 | +15.2% |
| Current portion of amounts payable after more than one year | 42 | €98,890 | €88,824 | -€10,067 | -10.2% |
| Trade debts | 44 | €0 | €208 | +€208 | |
| Suppliers | 440/4 | €0 | €208 | +€208 | |
| Taxes, remuneration and social security | 45 | €13,346 | €35,061 | +€21,715 | +163% |
| Taxes | 450/3 | €13,346 | €35,061 | +€21,715 | +163% |
| Other amounts payable | 47/48 | €35,053 | €45,649 | +€10,596 | +30.2% |
| Accrued charges and deferred income | 492/3 | €775 | €798 | +€23 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,545 | €76,226 | -€9,319 | -10.9% |
| Other operating charges | 640/8 | €4,408 | €4,180 | -€228 | -5.2% |
| Gross operating margin | 9900 | €270,029 | €367,895 | +€97,866 | +36.2% |
| Operating profit (loss) | 9901 | €180,076 | €287,490 | +€107,414 | +59.6% |
| Financial income | 75/76B | €40,299 | €41,094 | +€795 | +2.0% |
| Recurring financial income | 75 | €40,299 | €41,094 | +€795 | +2.0% |
| Financial charges | 65/66B | €57,215 | €39,238 | -€17,977 | -31.4% |
| Recurring financial charges | 65 | €57,215 | €39,238 | -€17,977 | -31.4% |
| Profit (loss) for the period before taxes | 9903 | €163,160 | €289,346 | +€126,186 | +77.3% |
| Income taxes | 67/77 | €39,490 | €80,154 | +€40,664 | +103% |
| Profit (loss) for the period | 9904 | €123,670 | €209,192 | +€85,522 | +69.2% |
| Profit (loss) for the period to be appropriated | 9905 | €123,670 | €209,192 | +€85,522 | +69.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.