VERSACO: 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.
VERSACO
Largest movements
- Tangible fixed assets +€60,236
up €60,236 (+792%), from €7,603 to €67,840
of which Furniture and vehicles: +€56,642
- Receivables within one year +€28,179
up €28,179 (+259%), from €10,883 to €39,062
of which Trade receivables: +€21,859
- Profit (loss) carried forward +€69,033
up €69,033 (+81.3%), from -€84,885 to -€15,851
- Trade debts +€40,697
up €40,697 (+10,435%), from €390 to €41,087
- Debts after one year -€22,937
down €22,937 (-15.0%), from €152,937 to €130,000
- Other debts +€3,486
up €3,486 (+26,902%), from €13 to €3,499
- Gross operating margin +€56,958
up €56,958 (+223%), from €25,570 to €82,528
- Depreciation -€1,948
down €1,948 (-15.6%), from €12,477 to €10,528
- Other operating charges +€1,365
up €1,365 (+259%), from €528 to €1,893
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 | €118,591 | €208,809 | +€90,218 | +76.1% |
| Fixed assets | 21/28 | €7,603 | €67,840 | +€60,236 | +792% |
| Tangible fixed assets | 22/27 | €7,603 | €67,840 | +€60,236 | +792% |
| Plant, machinery and equipment | 23 | - | €3,594 | +€3,594 | |
| Furniture and vehicles | 24 | €7,603 | €64,245 | +€56,642 | +745% |
| Current assets | 29/58 | €110,987 | €140,969 | +€29,982 | +27.0% |
| Stocks and contracts in progress | 3 | €100,075 | €100,075 | = | 0.0% |
| Stocks | 30/36 | €100,075 | €100,075 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €10,883 | €39,062 | +€28,179 | +259% |
| Trade receivables | 40 | €883 | €22,742 | +€21,859 | +2,476% |
| Other amounts receivable | 41 | €10,000 | €16,320 | +€6,320 | +63.2% |
| Cash at bank and in hand | 54/58 | €30 | €1,833 | +€1,803 | +6,081% |
| Total equity and liabilities | 10/49 | €118,591 | €208,809 | +€90,218 | +76.1% |
| Equity | 10/15 | -€39,885 | €29,149 | +€69,033 | |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€84,885 | -€15,851 | +€69,033 | +81.3% |
| Amounts payable | 17/49 | €158,475 | €179,660 | +€21,185 | +13.4% |
| Amounts payable after more than one year | 17 | €152,937 | €130,000 | -€22,937 | -15.0% |
| Other amounts payable | 178/9 | €152,937 | €130,000 | -€22,937 | -15.0% |
| Amounts payable within one year | 42/48 | €5,538 | €49,660 | +€44,122 | +797% |
| Current portion of amounts payable after more than one year | 42 | €5,089 | €5,073 | -€15 | -0.3% |
| Trade debts | 44 | €390 | €41,087 | +€40,697 | +10,435% |
| Suppliers | 440/4 | €390 | €41,087 | +€40,697 | +10,435% |
| Taxes, remuneration and social security | 45 | €46 | - | -€46 | |
| Taxes | 450/3 | €46 | - | -€46 | |
| Other amounts payable | 47/48 | €13 | €3,499 | +€3,486 | +26,902% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,477 | €10,528 | -€1,948 | -15.6% |
| Other operating charges | 640/8 | €528 | €1,893 | +€1,365 | +259% |
| Gross operating margin | 9900 | €25,570 | €82,528 | +€56,958 | +223% |
| Operating profit (loss) | 9901 | €12,566 | €70,107 | +€57,541 | +458% |
| Financial charges | 65/66B | €683 | €741 | +€58 | +8.4% |
| Recurring financial charges | 65 | €683 | €741 | +€58 | +8.4% |
| Profit (loss) for the period before taxes | 9903 | €11,882 | €69,366 | +€57,484 | +484% |
| Income taxes | 67/77 | - | €333 | +€333 | |
| Profit (loss) for the period | 9904 | €11,882 | €69,033 | +€57,151 | +481% |
| Profit (loss) for the period to be appropriated | 9905 | €11,882 | €69,033 | +€57,151 | +481% |
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 13 October 2026 via checked.be.