Versalex: 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.
Versalex
Largest movements
- Tangible fixed assets +€89,657
up €89,657 (+96.5%), from €92,879 to €182,536
of which Land and buildings: +€118,396
- Cash -€45,097
down €45,097 (-37.7%), from €119,745 to €74,648
mainly Investment in fixed assets (net) (-€123,266) and Contributions, distributions and other (-€79,522)
- Receivables within one year +€7,835
up €7,835 (+11.2%), from €69,688 to €77,523
of which Other amounts receivable: +€16,229
- Other debts +€82,148
up €82,148 (+842%), from €9,751 to €91,899
- Current portion of long-term debt -€9,216
down €9,216 (-100%), from €9,216 to €0
- Reserves -€9,077
down €9,077 (-3.7%), from €245,082 to €236,006
of which Distributable reserves: -€9,077
- Tax, wage and social debts -€7,817
down €7,817 (-33.0%), from €23,664 to €15,847
of which Taxes: -€5,287
- Financial charges +€47,780
up €47,780 (+4,189%), from €1,140 to €48,921
- Taxes -€16,952
down €16,952 (-41.3%), from €41,056 to €24,104
- Depreciation +€3,043
up €3,043 (+10.0%), from €30,566 to €33,610
- Other operating charges -€1,815
down €1,815 (-60.8%), from €2,985 to €1,170
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 | €306,317 | €359,751 | +€53,433 | +17.4% |
| Fixed assets | 21/28 | €92,879 | €182,536 | +€89,657 | +96.5% |
| Tangible fixed assets | 22/27 | €92,879 | €182,536 | +€89,657 | +96.5% |
| Land and buildings | 22 | €14,254 | €132,650 | +€118,396 | +831% |
| Furniture and vehicles | 24 | €78,625 | €49,886 | -€28,739 | -36.6% |
| Current assets | 29/58 | €213,438 | €177,215 | -€36,223 | -17.0% |
| Amounts receivable within one year | 40/41 | €69,688 | €77,523 | +€7,835 | +11.2% |
| Trade receivables | 40 | €24,688 | €16,294 | -€8,393 | -34.0% |
| Other amounts receivable | 41 | €45,000 | €61,229 | +€16,229 | +36.1% |
| Current investments | 50/53 | €20,000 | €20,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €119,745 | €74,648 | -€45,097 | -37.7% |
| Deferred charges and accrued income | 490/1 | €4,006 | €5,044 | +€1,038 | +25.9% |
| Total equity and liabilities | 10/49 | €306,317 | €359,751 | +€53,433 | +17.4% |
| Equity | 10/15 | €257,582 | €248,506 | -€9,077 | -3.5% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €245,082 | €236,006 | -€9,077 | -3.7% |
| Non-distributable reserves | 130/1 | €1,250 | €1,250 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,250 | €1,250 | = | 0.0% |
| Distributable reserves | 133 | €243,832 | €234,756 | -€9,077 | -3.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €48,735 | €111,245 | +€62,510 | +128% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €48,735 | €111,245 | +€62,510 | +128% |
| Current portion of amounts payable after more than one year | 42 | €9,216 | €0 | -€9,216 | -100% |
| Trade debts | 44 | €6,105 | €3,500 | -€2,605 | -42.7% |
| Suppliers | 440/4 | €6,105 | €3,500 | -€2,605 | -42.7% |
| Taxes, remuneration and social security | 45 | €23,664 | €15,847 | -€7,817 | -33.0% |
| Taxes | 450/3 | €21,134 | €15,847 | -€5,287 | -25.0% |
| Remuneration and social security | 454/9 | €2,530 | €0 | -€2,530 | -100% |
| Other amounts payable | 47/48 | €9,751 | €91,899 | +€82,148 | +842% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,566 | €33,610 | +€3,043 | +10.0% |
| Other operating charges | 640/8 | €2,985 | €1,170 | -€1,815 | -60.8% |
| Gross operating margin | 9900 | €178,483 | €177,875 | -€608 | -0.3% |
| Operating profit (loss) | 9901 | €144,931 | €143,096 | -€1,835 | -1.3% |
| Financial income | 75/76B | €1,042 | €374 | -€668 | -64.1% |
| Recurring financial income | 75 | €1,042 | €374 | -€668 | -64.1% |
| Financial charges | 65/66B | €1,140 | €48,921 | +€47,780 | +4,189% |
| Recurring financial charges | 65 | €1,140 | €48,921 | +€47,780 | +4,189% |
| Profit (loss) for the period before taxes | 9903 | €144,833 | €94,549 | -€50,284 | -34.7% |
| Income taxes | 67/77 | €41,056 | €24,104 | -€16,952 | -41.3% |
| Profit (loss) for the period | 9904 | €103,777 | €70,445 | -€33,331 | -32.1% |
| Profit (loss) for the period to be appropriated | 9905 | €103,777 | €70,445 | -€33,331 | -32.1% |
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.