VERSA: 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.
VERSA
Largest movements
- Deferred charges and accrued income +€35,486
up €35,486 (+1338.6%), from €2,651 to €38,137
- Cash -€23,525
down €23,525 (-18.6%), from €126,246 to €102,721
mainly Contributions, distributions and other (-€219,319) and Short-term financial debts (-€64,111)
- Tangible fixed assets -€7,290
down €7,290 (-2.8%), from €257,263 to €249,973
of which Plant, machinery and equipment: -€3,649
- Other debts +€184,339
up €184,339 (+3040.7%), from €6,062 to €190,402
- Reserves -€91,379
down €91,379 (-36.3%), from €251,500 to €160,121
- Short-term financial debts -€64,111
down €64,111 (-100.0%), from €64,111 to €0
- Trade debts -€45,072
down €45,072 (-98.3%), from €45,853 to €781
- Tax, wage and social debts +€22,418
up €22,418 (+55.6%), from €40,352 to €62,770
of which Taxes: +€22,418
- Gross operating margin +€31,090
up €31,090 (+19.9%), from €156,528 to €187,618
- Other operating charges -€27,756
down €27,756 (-93.0%), from €29,852 to €2,096
- Taxes +€15,784
up €15,784 (+61.5%), from €25,674 to €41,458
- Depreciation +€7,472
up €7,472 (+106.2%), from €7,037 to €14,509
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €407,880 | €414,075 | +€6,195 | +1.5% |
| Fixed assets | 21/28 | €257,263 | €249,973 | -€7,290 | -2.8% |
| Tangible fixed assets | 22/27 | €257,263 | €249,973 | -€7,290 | -2.8% |
| Land and buildings | 22 | €235,893 | €233,691 | -€2,202 | -0.9% |
| Plant, machinery and equipment | 23 | €16,752 | €13,103 | -€3,649 | -21.8% |
| Furniture and vehicles | 24 | €4,618 | €3,179 | -€1,439 | -31.2% |
| Current assets | 29/58 | €150,617 | €164,102 | +€13,485 | +9.0% |
| Amounts receivable within one year | 40/41 | €21,719 | €23,244 | +€1,524 | +7.0% |
| Trade receivables | 40 | €21,719 | €23,244 | +€1,524 | +7.0% |
| Cash at bank and in hand | 54/58 | €126,246 | €102,721 | -€23,525 | -18.6% |
| Deferred charges and accrued income | 490/1 | €2,651 | €38,137 | +€35,486 | +1338.6% |
| Total equity and liabilities | 10/49 | €407,880 | €414,075 | +€6,195 | +1.5% |
| Equity | 10/15 | €251,501 | €160,122 | -€91,379 | -36.3% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €251,500 | €160,121 | -€91,379 | -36.3% |
| Distributable reserves | 133 | €251,500 | €160,121 | -€91,379 | -36.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €156,378 | €253,952 | +€97,574 | +62.4% |
| Amounts payable within one year | 42/48 | €156,378 | €253,952 | +€97,574 | +62.4% |
| Financial debts | 43 | €64,111 | €0 | -€64,111 | -100.0% |
| Credit institutions | 430/8 | €64,111 | €0 | -€64,111 | -100.0% |
| Trade debts | 44 | €45,853 | €781 | -€45,072 | -98.3% |
| Suppliers | 440/4 | €45,853 | €781 | -€45,072 | -98.3% |
| Taxes, remuneration and social security | 45 | €40,352 | €62,770 | +€22,418 | +55.6% |
| Taxes | 450/3 | €40,352 | €62,770 | +€22,418 | +55.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €6,062 | €190,402 | +€184,339 | +3040.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,037 | €14,509 | +€7,472 | +106.2% |
| Other operating charges | 640/8 | €29,852 | €2,096 | -€27,756 | -93.0% |
| Gross operating margin | 9900 | €156,528 | €187,618 | +€31,090 | +19.9% |
| Operating profit (loss) | 9901 | €119,638 | €171,012 | +€51,374 | +42.9% |
| Financial income | 75/76B | €344 | €536 | +€192 | +55.8% |
| Recurring financial income | 75 | €344 | €536 | +€192 | +55.8% |
| Financial charges | 65/66B | €2,992 | €2,150 | -€842 | -28.1% |
| Recurring financial charges | 65 | €2,992 | €2,150 | -€842 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | €116,991 | €169,399 | +€52,408 | +44.8% |
| Income taxes | 67/77 | €25,674 | €41,458 | +€15,784 | +61.5% |
| Profit (loss) for the period | 9904 | €91,316 | €127,940 | +€36,624 | +40.1% |
| Profit (loss) for the period to be appropriated | 9905 | €91,316 | €127,940 | +€36,624 | +40.1% |
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 10 October 2026 via checked.be.