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
- Stocks and contracts +€462,493
up €462,493 (+200.9%), from €230,246 to €692,739
of which Stocks: +€462,493
- Receivables within one year -€10,043
down €10,043 (-54.5%), from €18,443 to €8,400
of which Trade receivables: -€12,236
- Debts after one year +€350,000
up €350,000, from €0 to €350,000
- Reserves +€51,494
up €51,494 (+22.4%), from €230,356 to €281,849
- Tax, wage and social debts +€27,240
up €27,240 (+433.8%), from €6,279 to €33,519
of which Remuneration and social security: +€16,500
- Other debts +€19,047
up €19,047 (+267.3%), from €7,127 to €26,174
- Gross operating margin +€69,664
up €69,664 (+149.7%), from €46,539 to €116,203
- Taxes +€13,832
up €13,832 (+281.8%), from €4,908 to €18,740
- Provisions +€12,500
new in 2025: €12,500
- Financial charges +€7,617
up €7,617 (+1724.6%), from €442 to €8,058
- Write-downs +€3,476
up €3,476, from -€3,476 to €0
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 | €272,926 | €716,008 | +€443,082 | +162.3% |
| Fixed assets | 21/28 | €14,981 | €11,265 | -€3,715 | -24.8% |
| Tangible fixed assets | 22/27 | €14,981 | €11,265 | -€3,715 | -24.8% |
| Furniture and vehicles | 24 | €14,981 | €11,265 | -€3,715 | -24.8% |
| Current assets | 29/58 | €257,946 | €704,743 | +€446,797 | +173.2% |
| Stocks and contracts in progress | 3 | €230,246 | €692,739 | +€462,493 | +200.9% |
| Stocks | 30/36 | €230,246 | €692,739 | +€462,493 | +200.9% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €18,443 | €8,400 | -€10,043 | -54.5% |
| Trade receivables | 40 | €17,385 | €5,148 | -€12,236 | -70.4% |
| Other amounts receivable | 41 | €1,058 | €3,252 | +€2,194 | +207.4% |
| Cash at bank and in hand | 54/58 | €7,483 | €1,799 | -€5,683 | -76.0% |
| Deferred charges and accrued income | 490/1 | €1,774 | €1,805 | +€31 | +1.7% |
| Total equity and liabilities | 10/49 | €272,926 | €716,008 | +€443,082 | +162.3% |
| Equity | 10/15 | €250,356 | €301,849 | +€51,494 | +20.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €230,356 | €281,849 | +€51,494 | +22.4% |
| Distributable reserves | 133 | €230,356 | €281,849 | +€51,494 | +22.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €22,571 | €414,159 | +€391,588 | +1734.9% |
| Amounts payable after more than one year | 17 | €0 | €350,000 | +€350,000 | |
| Financial debts | 170/4 | €0 | €350,000 | +€350,000 | |
| Amounts payable within one year | 42/48 | €22,571 | €64,159 | +€41,588 | +184.3% |
| Current portion of amounts payable after more than one year | 42 | €6,074 | €0 | -€6,074 | -100.0% |
| Trade debts | 44 | €3,091 | €4,466 | +€1,375 | +44.5% |
| Suppliers | 440/4 | €3,091 | €4,466 | +€1,375 | +44.5% |
| Taxes, remuneration and social security | 45 | €6,279 | €33,519 | +€27,240 | +433.8% |
| Taxes | 450/3 | €6,279 | €17,019 | +€10,740 | +171.0% |
| Remuneration and social security | 454/9 | - | €16,500 | +€16,500 | |
| Other amounts payable | 47/48 | €7,127 | €26,174 | +€19,047 | +267.3% |
| Non-recurring operating income | 76A | €5,387 | €0 | -€5,387 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,819 | €9,817 | +€998 | +11.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,476 | €0 | +€3,476 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €12,500 | +€12,500 | |
| Other operating charges | 640/8 | €1,793 | €1,301 | -€492 | -27.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €46,539 | €116,203 | +€69,664 | +149.7% |
| Operating profit (loss) | 9901 | €39,402 | €92,585 | +€53,183 | +135.0% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €442 | €8,058 | +€7,617 | +1724.6% |
| Recurring financial charges | 65 | €442 | €8,058 | +€7,617 | +1724.6% |
| Profit (loss) for the period before taxes | 9903 | €38,961 | €84,527 | +€45,566 | +117.0% |
| Income taxes | 67/77 | €4,908 | €18,740 | +€13,832 | +281.8% |
| Profit (loss) for the period | 9904 | €34,053 | €65,787 | +€31,735 | +93.2% |
| Profit (loss) for the period to be appropriated | 9905 | €34,053 | €65,787 | +€31,735 | +93.2% |
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 8 October 2026 via checked.be.