VERSA: what changed
Two fiscal 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.
What changed
VERSA
NACE 68.121, Development of residential building projects
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€37,171
2024 · -€5,699-€31,472
Equity
€2.0m
2024 · €2.1m-€39,171
Cash
€3,404
2024 · €7,410-€4,006
Balance sheet total
€2.4m
2024 · €2.5m-€68,611
Largest movements
Assets
- Receivables within one year -€47,864
down €47,864 (-3.2%), from €1.5m to €1.5m
of which Other amounts receivable: -€46,852
Equity and liabilities
- Profit (loss) carried forward -€31,303
down €31,303 (-2.4%), from €1.3m to €1.3m
- Other debts -€27,944
down €27,944 (-10.5%), from €265,335 to €237,391
- Short-term financial debts +€25,209
new in 2025: €25,209
Income statement
- Financial charges +€233,277
up €233,277 (+9964.8%), from €2,341 to €235,618
- Financial income +€167,098
new in 2025: €167,098
- Gross operating margin +€31,954
up €31,954 (+173.0%), from €18,467 to €50,421
- Taxes -€2,440
down €2,440 (-99.1%), from €2,461 to €21
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.
Result 2024
-€5,699
Gross operating margin
+€31,954
Other operating charges
+€113
Financial income
+€167,098
Financial charges
-€233,277
Taxes
+€2,440
Deferred taxes and other
+€200
Result 2025
-€37,171
Cash bridge derived
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.
From operations
-€10,376
Investment
€0
Financing
+€6,370
Cash 2024
€7,410
From operations (derived)
-€10,376
Net result for the year
-€37,171
Depreciation
+€16,741
Receivables within one year
+€47,864
Provisions
-€2,822
Trade debts
-€652
Tax, wage and social debts
-€1,047
Other debts
-€27,944
Accrued charges and deferred income
-€5,345
Financing
+€6,370
Debts after one year
-€16,624
Current portion of long-term debt
-€215
Short-term financial debts
+€25,209
Contributions, distributions and other
-€2,000
Cash 2025
€3,404
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,491,447 | €2,422,836 | -€68,611 | -2.8% |
| Fixed assets | 21/28 | €946,420 | €929,679 | -€16,741 | -1.8% |
| Tangible fixed assets | 22/27 | €564,920 | €548,179 | -€16,741 | -3.0% |
| Other tangible fixed assets | 26 | €564,920 | €548,179 | -€16,741 | -3.0% |
| Financial fixed assets | 28 | €381,500 | €381,500 | = | 0.0% |
| Current assets | 29/58 | €1,545,027 | €1,493,157 | -€51,870 | -3.4% |
| Amounts receivable within one year | 40/41 | €1,506,867 | €1,459,003 | -€47,864 | -3.2% |
| Trade receivables | 40 | €54,502 | €53,490 | -€1,012 | -1.9% |
| Other amounts receivable | 41 | €1,452,365 | €1,405,513 | -€46,852 | -3.2% |
| Current investments | 50/53 | €30,750 | €30,750 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €7,410 | €3,404 | -€4,006 | -54.1% |
| Total equity and liabilities | 10/49 | €2,491,447 | €2,422,836 | -€68,611 | -2.8% |
| Equity | 10/15 | €2,070,173 | €2,031,002 | -€39,171 | -1.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €747,952 | €740,084 | -€7,868 | -1.1% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €149,501 | €141,633 | -€7,868 | -5.3% |
| Distributable reserves | 133 | €596,592 | €596,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,303,629 | €1,272,326 | -€31,303 | -2.4% |
| Provisions and deferred taxes | 16 | €49,834 | €47,012 | -€2,822 | -5.7% |
| Deferred taxes | 168 | €49,834 | €47,012 | -€2,822 | -5.7% |
| Amounts payable | 17/49 | €371,440 | €344,822 | -€26,618 | -7.2% |
| Amounts payable after more than one year | 17 | €79,518 | €62,894 | -€16,624 | -20.9% |
| Financial debts | 170/4 | €79,518 | €62,894 | -€16,624 | -20.9% |
| Amounts payable within one year | 42/48 | €286,577 | €281,928 | -€4,649 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €17,499 | €17,284 | -€215 | -1.2% |
| Financial debts | 43 | - | €25,209 | +€25,209 | |
| Credit institutions | 430/8 | - | €25,209 | +€25,209 | |
| Trade debts | 44 | €882 | €230 | -€652 | -73.9% |
| Suppliers | 440/4 | €882 | €230 | -€652 | -73.9% |
| Taxes, remuneration and social security | 45 | €2,861 | €1,814 | -€1,047 | -36.6% |
| Taxes | 450/3 | €2,861 | €1,814 | -€1,047 | -36.6% |
| Other amounts payable | 47/48 | €265,335 | €237,391 | -€27,944 | -10.5% |
| Accrued charges and deferred income | 492/3 | €5,345 | - | -€5,345 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,741 | €16,741 | = | 0.0% |
| Other operating charges | 640/8 | €5,246 | €5,133 | -€113 | -2.2% |
| Gross operating margin | 9900 | €18,467 | €50,421 | +€31,954 | +173.0% |
| Operating profit (loss) | 9901 | -€3,520 | €28,547 | +€32,067 | |
| Financial income | 75/76B | - | €167,098 | +€167,098 | |
| Recurring financial income | 75 | - | €167,098 | +€167,098 | |
| Financial charges | 65/66B | €2,341 | €235,618 | +€233,277 | +9964.8% |
| Recurring financial charges | 65 | €2,341 | €235,618 | +€233,277 | +9964.8% |
| Profit (loss) for the period before taxes | 9903 | -€5,861 | -€39,973 | -€34,112 | -582.0% |
| Transfer from deferred taxes | 780 | €2,623 | €2,823 | +€200 | +7.6% |
| Income taxes | 67/77 | €2,461 | €21 | -€2,440 | -99.1% |
| Profit (loss) for the period | 9904 | -€5,699 | -€37,171 | -€31,472 | -552.2% |
| Transfer from tax-exempt reserves | 789 | €7,869 | €7,868 | -€1 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,170 | -€29,303 | -€31,473 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.