VERSA VERVACKE: 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 VERVACKE
Largest movements
- Receivables within one year -€42,096
down €42,096 (-38.9%), from €108,111 to €66,015
of which Trade receivables: -€33,648
- Tangible fixed assets -€14,630
down €14,630 (-63.2%), from €23,163 to €8,533
- Stocks and contracts -€5,831
down €5,831 (-3.0%), from €191,488 to €185,657
of which Contracts in progress: -€20,000
- Cash -€3,359
down €3,359 (-27.6%), from €12,161 to €8,802
mainly Net result for the year (-€18,587) and Other debts (-€17,152)
- Profit (loss) carried forward -€18,587
down €18,587 (-71.0%), from €26,176 to €7,589
- Other debts -€17,152
down €17,152 (-14.1%), from €121,259 to €104,107
- Current portion of long-term debt -€11,418
down €11,418 (-67.0%), from €17,035 to €5,617
- Tax, wage and social debts -€10,469
down €10,469 (-67.6%), from €15,476 to €5,007
of which Remuneration and social security: -€6,981
- Debts after one year -€5,617
no longer reported in 2025 (was €5,617)
- Gross operating margin -€87,379
down €87,379 (-78.8%), from €110,850 to €23,471
- Staff costs -€55,360
down €55,360 (-73.1%), from €75,700 to €20,340
- Taxes -€3,201
down €3,201 (-96.0%), from €3,333 to €132
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 | €334,923 | €269,006 | -€65,917 | -19.7% |
| Fixed assets | 21/28 | €23,163 | €8,533 | -€14,630 | -63.2% |
| Tangible fixed assets | 22/27 | €23,163 | €8,533 | -€14,630 | -63.2% |
| Furniture and vehicles | 24 | €23,163 | €8,533 | -€14,630 | -63.2% |
| Current assets | 29/58 | €311,760 | €260,473 | -€51,287 | -16.5% |
| Stocks and contracts in progress | 3 | €191,488 | €185,657 | -€5,831 | -3.0% |
| Stocks | 30/36 | €61,488 | €75,657 | +€14,169 | +23.0% |
| Contracts in progress | 37 | €130,000 | €110,000 | -€20,000 | -15.4% |
| Amounts receivable within one year | 40/41 | €108,111 | €66,015 | -€42,096 | -38.9% |
| Trade receivables | 40 | €98,091 | €64,443 | -€33,648 | -34.3% |
| Other amounts receivable | 41 | €10,020 | €1,572 | -€8,448 | -84.3% |
| Cash at bank and in hand | 54/58 | €12,161 | €8,802 | -€3,359 | -27.6% |
| Total equity and liabilities | 10/49 | €334,923 | €269,006 | -€65,917 | -19.7% |
| Equity | 10/15 | €150,403 | €131,816 | -€18,587 | -12.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €121,226 | €121,226 | = | 0.0% |
| Distributable reserves | 133 | €121,226 | €121,226 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,176 | €7,589 | -€18,587 | -71.0% |
| Amounts payable | 17/49 | €184,521 | €137,190 | -€47,330 | -25.7% |
| Amounts payable after more than one year | 17 | €5,617 | - | -€5,617 | |
| Financial debts | 170/4 | €5,617 | - | -€5,617 | |
| Amounts payable within one year | 42/48 | €178,903 | €137,190 | -€41,713 | -23.3% |
| Current portion of amounts payable after more than one year | 42 | €17,035 | €5,617 | -€11,418 | -67.0% |
| Trade debts | 44 | €25,134 | €22,459 | -€2,675 | -10.6% |
| Suppliers | 440/4 | €25,134 | €22,459 | -€2,675 | -10.6% |
| Taxes, remuneration and social security | 45 | €15,476 | €5,007 | -€10,469 | -67.6% |
| Taxes | 450/3 | €6,344 | €2,856 | -€3,488 | -55.0% |
| Remuneration and social security | 454/9 | €9,132 | €2,151 | -€6,981 | -76.4% |
| Other amounts payable | 47/48 | €121,259 | €104,107 | -€17,152 | -14.1% |
| Remuneration, social security and pensions | 62 | €75,700 | €20,340 | -€55,360 | -73.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,596 | €19,497 | +€901 | +4.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €853 | - | -€853 | |
| Other operating charges | 640/8 | €2,112 | €1,649 | -€463 | -21.9% |
| Gross operating margin | 9900 | €110,850 | €23,471 | -€87,379 | -78.8% |
| Operating profit (loss) | 9901 | €13,589 | -€18,015 | -€31,604 | |
| Financial income | 75/76B | €42 | €1 | -€41 | -98.2% |
| Recurring financial income | 75 | €42 | €1 | -€41 | -98.2% |
| Financial charges | 65/66B | €727 | €441 | -€287 | -39.4% |
| Recurring financial charges | 65 | €727 | €441 | -€287 | -39.4% |
| Profit (loss) for the period before taxes | 9903 | €12,904 | -€18,455 | -€31,359 | |
| Income taxes | 67/77 | €3,333 | €132 | -€3,201 | -96.0% |
| Profit (loss) for the period | 9904 | €9,571 | -€18,587 | -€28,158 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,571 | -€18,587 | -€28,158 |
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 22 October 2026 via checked.be.