VERNACOS: 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.
VERNACOS
Largest movements
- Cash +€723,478
up €723,478 (+45.7%), from €1.6m to €2.3m
mainly Net result for the year (+€1.5m) and Depreciation (+€23,300)
- Receivables within one year +€344,263
up €344,263 (+25.8%), from €1.3m to €1.7m
of which Other amounts receivable: +€396,638
- Reserves +€1.5m
up €1.5m (+30.7%), from €4.7m to €6.2m
- Debts after one year -€395,582
down €395,582 (-17.7%), from €2.2m to €1.8m
of which Financial debts: -€395,582
- Staff costs +€69,573
up €69,573 (+111%), from €62,476 to €132,049
- Gross operating margin +€66,861
up €66,861 (+42.3%), from €157,950 to €224,811
- Financial charges +€14,133
up €14,133 (+21.6%), from €65,286 to €79,418
- Financial income +€7,693
up €7,693 (+0.5%), from €1.5m to €1.5m
- Depreciation +€6,525
up €6,525 (+38.9%), from €16,775 to €23,300
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 | €12,002,325 | €13,042,697 | +€1.0m | +8.7% |
| Fixed assets | 21/28 | €9,078,847 | €9,055,547 | -€23,300 | -0.3% |
| Tangible fixed assets | 22/27 | €78,847 | €55,547 | -€23,300 | -29.6% |
| Furniture and vehicles | 24 | €78,847 | €55,547 | -€23,300 | -29.6% |
| Financial fixed assets | 28 | €9,000,000 | €9,000,000 | = | 0.0% |
| Current assets | 29/58 | €2,923,478 | €3,987,150 | +€1.1m | +36.4% |
| Amounts receivable within one year | 40/41 | €1,335,479 | €1,679,742 | +€344,263 | +25.8% |
| Trade receivables | 40 | €69,395 | €17,021 | -€52,374 | -75.5% |
| Other amounts receivable | 41 | €1,266,084 | €1,662,722 | +€396,638 | +31.3% |
| Cash at bank and in hand | 54/58 | €1,581,501 | €2,304,979 | +€723,478 | +45.7% |
| Deferred charges and accrued income | 490/1 | €6,499 | €2,429 | -€4,070 | -62.6% |
| Total equity and liabilities | 10/49 | €12,002,325 | €13,042,697 | +€1.0m | +8.7% |
| Equity | 10/15 | €9,236,166 | €10,688,913 | +€1.5m | +15.7% |
| Contributions | 10/11 | €4,500,000 | €4,500,000 | = | 0.0% |
| Reserves | 13 | €4,736,166 | €6,188,913 | +€1.5m | +30.7% |
| Distributable reserves | 133 | €4,736,166 | €6,188,913 | +€1.5m | +30.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,766,159 | €2,353,783 | -€412,376 | -14.9% |
| Amounts payable after more than one year | 17 | €2,237,065 | €1,841,483 | -€395,582 | -17.7% |
| Financial debts | 170/4 | €1,237,065 | €841,483 | -€395,582 | -32.0% |
| Other amounts payable | 178/9 | €1,000,000 | €1,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €489,095 | €462,226 | -€26,868 | -5.5% |
| Current portion of amounts payable after more than one year | 42 | €393,119 | €395,582 | +€2,463 | +0.6% |
| Trade debts | 44 | €11,422 | €4,145 | -€7,277 | -63.7% |
| Suppliers | 440/4 | €11,422 | €4,145 | -€7,277 | -63.7% |
| Taxes, remuneration and social security | 45 | €55,040 | €39,515 | -€15,525 | -28.2% |
| Taxes | 450/3 | €38,738 | €21,101 | -€17,637 | -45.5% |
| Remuneration and social security | 454/9 | €16,302 | €18,414 | +€2,112 | +13.0% |
| Other amounts payable | 47/48 | €29,513 | €22,984 | -€6,529 | -22.1% |
| Accrued charges and deferred income | 492/3 | €40,000 | €50,075 | +€10,075 | +25.2% |
| Remuneration, social security and pensions | 62 | €62,476 | €132,049 | +€69,573 | +111% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,775 | €23,300 | +€6,525 | +38.9% |
| Other operating charges | 640/8 | €2,324 | €2,946 | +€622 | +26.7% |
| Gross operating margin | 9900 | €157,950 | €224,811 | +€66,861 | +42.3% |
| Operating profit (loss) | 9901 | €76,374 | €66,516 | -€9,858 | -12.9% |
| Financial income | 75/76B | €1,512,340 | €1,520,033 | +€7,693 | +0.5% |
| Recurring financial income | 75 | €1,512,340 | €1,520,033 | +€7,693 | +0.5% |
| Financial charges | 65/66B | €65,286 | €79,418 | +€14,133 | +21.6% |
| Recurring financial charges | 65 | €65,286 | €79,418 | +€14,133 | +21.6% |
| Profit (loss) for the period before taxes | 9903 | €1,523,429 | €1,507,131 | -€16,298 | -1.1% |
| Income taxes | 67/77 | €6,842 | €4,383 | -€2,459 | -35.9% |
| Profit (loss) for the period | 9904 | €1,516,587 | €1,502,748 | -€13,839 | -0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,516,587 | €1,502,748 | -€13,839 | -0.9% |
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 24 October 2026 via checked.be.