VERSA PROJECTS: 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.
VERSA PROJECTS
Largest movements
- Receivables after one year +€70,000
up €70,000 (+70.0%), from €100,000 to €170,000
of which Other amounts receivable: +€170,000
- Cash +€24,861
up €24,861 (+66.9%), from €37,159 to €62,019
mainly Net result for the year (+€89,742) and Tax, wage and social debts (+€6,334)
- Reserves +€90,089
up €90,089 (+62.0%), from €145,248 to €235,337
- Tax, wage and social debts +€6,334
up €6,334 (+35.4%), from €17,916 to €24,249
- Gross operating margin +€11,447
up €11,447 (+11.0%), from €104,162 to €115,609
- Taxes +€2,477
up €2,477 (+10.9%), from €22,755 to €25,232
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 | €174,629 | €268,191 | +€93,562 | +53.6% |
| Fixed assets | 21/28 | €1,121 | €131 | -€991 | -88.4% |
| Tangible fixed assets | 22/27 | €1,121 | €131 | -€991 | -88.4% |
| Furniture and vehicles | 24 | €1,121 | €131 | -€991 | -88.4% |
| Current assets | 29/58 | €173,507 | €268,061 | +€94,553 | +54.5% |
| Amounts receivable after more than one year | 29 | €100,000 | €170,000 | +€70,000 | +70.0% |
| Trade receivables | 290 | €100,000 | - | -€100,000 | |
| Other amounts receivable | 291 | - | €170,000 | +€170,000 | |
| Amounts receivable within one year | 40/41 | €35,009 | €34,926 | -€83 | -0.2% |
| Trade receivables | 40 | €33,996 | €34,882 | +€886 | +2.6% |
| Other amounts receivable | 41 | €1,013 | €44 | -€969 | -95.7% |
| Cash at bank and in hand | 54/58 | €37,159 | €62,019 | +€24,861 | +66.9% |
| Deferred charges and accrued income | 490/1 | €1,339 | €1,115 | -€224 | -16.7% |
| Total equity and liabilities | 10/49 | €174,629 | €268,191 | +€93,562 | +53.6% |
| Equity | 10/15 | €150,248 | €239,989 | +€89,742 | +59.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €145,248 | €235,337 | +€90,089 | +62.0% |
| Distributable reserves | 133 | €145,248 | €235,337 | +€90,089 | +62.0% |
| Profit (loss) carried forward | 14 | €0 | -€348 | -€348 | |
| Amounts payable | 17/49 | €24,381 | €28,202 | +€3,821 | +15.7% |
| Amounts payable within one year | 42/48 | €24,381 | €28,202 | +€3,821 | +15.7% |
| Trade debts | 44 | €2,773 | €2,255 | -€518 | -18.7% |
| Suppliers | 440/4 | €2,773 | €2,255 | -€518 | -18.7% |
| Taxes, remuneration and social security | 45 | €17,916 | €24,249 | +€6,334 | +35.4% |
| Taxes | 450/3 | €17,916 | €24,249 | +€6,334 | +35.4% |
| Other amounts payable | 47/48 | €3,692 | €1,697 | -€1,995 | -54.0% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €992 | €991 | -€2 | -0.2% |
| Other operating charges | 640/8 | €499 | €393 | -€106 | -21.3% |
| Gross operating margin | 9900 | €104,162 | €115,609 | +€11,447 | +11.0% |
| Operating profit (loss) | 9901 | €102,671 | €114,225 | +€11,555 | +11.3% |
| Financial income | 75/76B | €761 | €895 | +€134 | +17.7% |
| Recurring financial income | 75 | €761 | €895 | +€134 | +17.7% |
| Financial charges | 65/66B | €640 | €147 | -€493 | -77.0% |
| Recurring financial charges | 65 | €640 | €147 | -€493 | -77.0% |
| Profit (loss) for the period before taxes | 9903 | €102,791 | €114,973 | +€12,182 | +11.9% |
| Income taxes | 67/77 | €22,755 | €25,232 | +€2,477 | +10.9% |
| Profit (loss) for the period | 9904 | €80,036 | €89,742 | +€9,705 | +12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €80,036 | €89,742 | +€9,705 | +12.1% |
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 6 October 2026 via checked.be.