VERSACO: 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.
VERSACO
Largest movements
- Receivables within one year -€41,476
down €41,476 (-96.3%), from €43,049 to €1,573
of which Other amounts receivable: -€21,575
- Stocks and contracts +€18,800
new in 2025: €18,800
- Cash -€5,755
down €5,755 (-89.5%), from €6,433 to €678
mainly Net result for the year (-€37,600) and Stocks and contracts (-€18,800)
- Tangible fixed assets -€4,773
down €4,773 (-35.4%), from €13,465 to €8,692
of which Furniture and vehicles: -€4,773
- Deferred charges and accrued income -€1,263
down €1,263 (-100.0%), from €1,263 to €0
- Profit (loss) carried forward -€37,600
down €37,600, from €34,035 to -€3,565
- Trade debts -€17,720
down €17,720 (-64.8%), from €27,339 to €9,619
- Other debts +€12,314
new in 2025: €12,314
- Short-term financial debts +€10,150
new in 2025: €10,150
- Tax, wage and social debts -€2,836
down €2,836 (-100.0%), from €2,836 to €0
of which Taxes: -€2,836
- Gross operating margin -€13,378
down €13,378 (-80.6%), from -€16,604 to -€29,982
- Depreciation -€3,376
down €3,376 (-41.4%), from €8,149 to €4,773
- Financial charges +€1,372
up €1,372 (+431.4%), from €318 to €1,690
- Financial income -€1,049
down €1,049 (-99.1%), from €1,059 to €10
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 | €68,210 | €33,743 | -€34,467 | -50.5% |
| Fixed assets | 21/28 | €17,465 | €12,692 | -€4,773 | -27.3% |
| Tangible fixed assets | 22/27 | €13,465 | €8,692 | -€4,773 | -35.4% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €13,465 | €8,692 | -€4,773 | -35.4% |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €50,746 | €21,051 | -€29,694 | -58.5% |
| Stocks and contracts in progress | 3 | - | €18,800 | +€18,800 | |
| Stocks | 30/36 | - | €18,800 | +€18,800 | |
| Amounts receivable within one year | 40/41 | €43,049 | €1,573 | -€41,476 | -96.3% |
| Trade receivables | 40 | €19,901 | €0 | -€19,901 | -100.0% |
| Other amounts receivable | 41 | €23,148 | €1,573 | -€21,575 | -93.2% |
| Cash at bank and in hand | 54/58 | €6,433 | €678 | -€5,755 | -89.5% |
| Deferred charges and accrued income | 490/1 | €1,263 | €0 | -€1,263 | -100.0% |
| Total equity and liabilities | 10/49 | €68,210 | €33,743 | -€34,467 | -50.5% |
| Equity | 10/15 | €38,035 | €435 | -€37,600 | -98.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,035 | -€3,565 | -€37,600 | |
| Amounts payable | 17/49 | €30,176 | €33,308 | +€3,133 | +10.4% |
| Amounts payable within one year | 42/48 | €30,176 | €33,282 | +€3,107 | +10.3% |
| Financial debts | 43 | - | €10,150 | +€10,150 | |
| Credit institutions | 430/8 | - | €10,150 | +€10,150 | |
| Trade debts | 44 | €27,339 | €9,619 | -€17,720 | -64.8% |
| Suppliers | 440/4 | €27,339 | €9,619 | -€17,720 | -64.8% |
| Advances received on contracts in progress | 46 | - | €1,200 | +€1,200 | |
| Taxes, remuneration and social security | 45 | €2,836 | €0 | -€2,836 | -100.0% |
| Taxes | 450/3 | €2,836 | €0 | -€2,836 | -100.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | - | €12,314 | +€12,314 | |
| Accrued charges and deferred income | 492/3 | - | €26 | +€26 | |
| Remuneration, social security and pensions | 62 | -€49 | €0 | +€49 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,149 | €4,773 | -€3,376 | -41.4% |
| Other operating charges | 640/8 | €1,244 | €1,165 | -€78 | -6.3% |
| Non-recurring operating charges | 66A | €1,395 | €0 | -€1,395 | -100.0% |
| Gross operating margin | 9900 | -€16,604 | -€29,982 | -€13,378 | -80.6% |
| Operating profit (loss) | 9901 | -€27,342 | -€35,920 | -€8,578 | -31.4% |
| Financial income | 75/76B | €1,059 | €10 | -€1,049 | -99.1% |
| Recurring financial income | 75 | €1,059 | €10 | -€1,049 | -99.1% |
| Financial charges | 65/66B | €318 | €1,690 | +€1,372 | +431.4% |
| Recurring financial charges | 65 | €318 | €1,690 | +€1,372 | +431.4% |
| Profit (loss) for the period before taxes | 9903 | -€26,601 | -€37,600 | -€10,999 | -41.3% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€26,601 | -€37,600 | -€10,999 | -41.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,601 | -€37,600 | -€10,999 | -41.3% |
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 7 October 2026 via checked.be.