VERNATH: 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.
VERNATH
Largest movements
- Tangible fixed assets +€10,280
up €10,280 (+69.5%), from €14,785 to €25,065
of which Furniture and vehicles: +€11,896
- Receivables within one year +€4,943
up €4,943 (+21.1%), from €23,469 to €28,412
of which Trade receivables: +€20,894
- Cash -€4,513
down €4,513 (-25.9%), from €17,423 to €12,910
mainly Investment in fixed assets (net) (-€18,707) and Receivables within one year (-€4,943)
- Deferred charges and accrued income -€1,509
down €1,509 (-24.0%), from €6,282 to €4,773
- Reserves +€7,187
up €7,187 (+25.8%), from €27,901 to €35,088
- Trade debts +€2,092
up €2,092 (+23.9%), from €8,741 to €10,833
- Tax, wage and social debts +€1,593
up €1,593 (+6.9%), from €23,154 to €24,747
of which Remuneration and social security: +€3,144
- Current portion of long-term debt -€1,254
down €1,254 (-75.0%), from €1,671 to €418
- Other operating charges -€10,932
down €10,932 (-84.4%), from €12,951 to €2,019
- Depreciation +€3,717
up €3,717 (+78.9%), from €4,711 to €8,428
- Taxes +€2,334
up €2,334 (+43.8%), from €5,324 to €7,658
- Financial charges -€747
down €747 (-18.9%), from €3,947 to €3,199
- Gross operating margin -€637
down €637 (-2.3%), from €28,302 to €27,665
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 | €61,984 | €71,185 | +€9,201 | +14.8% |
| Fixed assets | 21/28 | €14,810 | €25,090 | +€10,280 | +69.4% |
| Tangible fixed assets | 22/27 | €14,785 | €25,065 | +€10,280 | +69.5% |
| Plant, machinery and equipment | 23 | €1,705 | €523 | -€1,182 | -69.3% |
| Furniture and vehicles | 24 | €10,196 | €22,092 | +€11,896 | +117% |
| Other tangible fixed assets | 26 | €2,884 | €2,449 | -€435 | -15.1% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €47,173 | €46,095 | -€1,078 | -2.3% |
| Amounts receivable within one year | 40/41 | €23,469 | €28,412 | +€4,943 | +21.1% |
| Trade receivables | 40 | €2,135 | €23,029 | +€20,894 | +979% |
| Other amounts receivable | 41 | €21,334 | €5,383 | -€15,951 | -74.8% |
| Cash at bank and in hand | 54/58 | €17,423 | €12,910 | -€4,513 | -25.9% |
| Deferred charges and accrued income | 490/1 | €6,282 | €4,773 | -€1,509 | -24.0% |
| Total equity and liabilities | 10/49 | €61,984 | €71,185 | +€9,201 | +14.8% |
| Equity | 10/15 | €28,001 | €35,188 | +€7,187 | +25.7% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €27,901 | €35,088 | +€7,187 | +25.8% |
| Distributable reserves | 133 | €27,901 | €35,088 | +€7,187 | +25.8% |
| Amounts payable | 17/49 | €33,983 | €35,997 | +€2,014 | +5.9% |
| Amounts payable after more than one year | 17 | €418 | - | -€418 | |
| Financial debts | 170/4 | €418 | - | -€418 | |
| Amounts payable within one year | 42/48 | €33,565 | €35,997 | +€2,432 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | €1,671 | €418 | -€1,254 | -75.0% |
| Trade debts | 44 | €8,741 | €10,833 | +€2,092 | +23.9% |
| Suppliers | 440/4 | €8,741 | €10,833 | +€2,092 | +23.9% |
| Taxes, remuneration and social security | 45 | €23,154 | €24,747 | +€1,593 | +6.9% |
| Taxes | 450/3 | €23,154 | €21,603 | -€1,551 | -6.7% |
| Remuneration and social security | 454/9 | - | €3,144 | +€3,144 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,711 | €8,428 | +€3,717 | +78.9% |
| Other operating charges | 640/8 | €12,951 | €2,019 | -€10,932 | -84.4% |
| Gross operating margin | 9900 | €28,302 | €27,665 | -€637 | -2.3% |
| Operating profit (loss) | 9901 | €10,641 | €17,219 | +€6,578 | +61.8% |
| Financial income | 75/76B | €792 | €826 | +€34 | +4.3% |
| Recurring financial income | 75 | €792 | €826 | +€34 | +4.3% |
| Financial charges | 65/66B | €3,947 | €3,199 | -€747 | -18.9% |
| Recurring financial charges | 65 | €3,947 | €3,199 | -€747 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €7,486 | €14,845 | +€7,359 | +98.3% |
| Income taxes | 67/77 | €5,324 | €7,658 | +€2,334 | +43.8% |
| Profit (loss) for the period | 9904 | €2,162 | €7,187 | +€5,025 | +232% |
| Profit (loss) for the period to be appropriated | 9905 | €2,162 | €7,187 | +€5,025 | +232% |
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 14 October 2026 via checked.be.