VERSANI: 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.
VERSANI
Largest movements
- Cash +€191,986
up €191,986 (+64.3%), from €298,642 to €490,628
mainly Other debts (+€654,952) and Net result for the year (+€412,157)
- Receivables within one year +€109,575
up €109,575 (+17.3%), from €634,422 to €743,998
of which Trade receivables: +€253,963
- Stocks and contracts +€54,967
up €54,967 (+2.9%), from €1.9m to €1.9m
- Profit (loss) carried forward -€1.5m
down €1.5m (-100.0%), from €1.5m to €0
- Reserves +€1.2m
up €1.2m (+668.7%), from €183,959 to €1.4m
of which Distributable reserves: +€1.2m
- Other debts +€654,952
up €654,952 (+354872.1%), from €185 to €655,137
- Accrued charges and deferred income +€88,878
up €88,878 (+165.2%), from €53,795 to €142,673
- Trade debts -€85,415
down €85,415 (-33.2%), from €257,632 to €172,216
- Gross operating margin +€153,466
up €153,466 (+12.3%), from €1.2m to €1.4m
- Taxes +€68,866
up €68,866 (+87.8%), from €78,410 to €147,276
- Staff costs -€30,531
down €30,531 (-3.6%), from €848,067 to €817,536
- Financial income +€30,425
up €30,425 (+32.7%), from €93,067 to €123,491
- Write-downs -€26,378
down €26,378 (-77.6%), from €34,007 to €7,629
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 | €2,997,954 | €3,348,896 | +€350,942 | +11.7% |
| Fixed assets | 21/28 | €161,045 | €161,695 | +€651 | +0.4% |
| Intangible fixed assets | 21 | €9,533 | €5,200 | -€4,333 | -45.5% |
| Tangible fixed assets | 22/27 | €150,992 | €155,976 | +€4,984 | +3.3% |
| Land and buildings | 22 | €28,376 | €19,590 | -€8,786 | -31.0% |
| Plant, machinery and equipment | 23 | €14,539 | €12,747 | -€1,793 | -12.3% |
| Furniture and vehicles | 24 | €32,707 | €32,327 | -€380 | -1.2% |
| Leasing and similar rights | 25 | €6,091 | €1,300 | -€4,791 | -78.7% |
| Other tangible fixed assets | 26 | €69,279 | €90,012 | +€20,733 | +29.9% |
| Financial fixed assets | 28 | €520 | €520 | = | 0.0% |
| Current assets | 29/58 | €2,836,909 | €3,187,200 | +€350,291 | +12.3% |
| Stocks and contracts in progress | 3 | €1,886,059 | €1,941,026 | +€54,967 | +2.9% |
| Stocks | 30/36 | €1,886,059 | €1,941,026 | +€54,967 | +2.9% |
| Amounts receivable within one year | 40/41 | €634,422 | €743,998 | +€109,575 | +17.3% |
| Trade receivables | 40 | €490,035 | €743,998 | +€253,963 | +51.8% |
| Other amounts receivable | 41 | €144,388 | €0 | -€144,388 | -100.0% |
| Cash at bank and in hand | 54/58 | €298,642 | €490,628 | +€191,986 | +64.3% |
| Deferred charges and accrued income | 490/1 | €17,785 | €11,548 | -€6,237 | -35.1% |
| Total equity and liabilities | 10/49 | €2,997,954 | €3,348,896 | +€350,942 | +11.7% |
| Equity | 10/15 | €2,027,758 | €1,784,915 | -€242,843 | -12.0% |
| Contributions | 10/11 | €370,761 | €370,761 | = | 0.0% |
| Capital | 10 | €370,761 | €370,761 | = | 0.0% |
| Issued capital | 100 | €370,761 | €370,761 | = | 0.0% |
| Reserves | 13 | €183,959 | €1,414,154 | +€1.2m | +668.7% |
| Non-distributable reserves | 130/1 | €37,076 | €37,076 | = | 0.0% |
| Legal reserve | 130 | €37,076 | €37,076 | = | 0.0% |
| Tax-exempt reserves | 132 | €170 | €170 | = | 0.0% |
| Distributable reserves | 133 | €146,713 | €1,376,907 | +€1.2m | +838.5% |
| Profit (loss) carried forward | 14 | €1,473,038 | €0 | -€1.5m | -100.0% |
| Amounts payable | 17/49 | €970,196 | €1,563,981 | +€593,785 | +61.2% |
| Amounts payable after more than one year | 17 | €107,180 | €61,958 | -€45,221 | -42.2% |
| Financial debts | 170/4 | €107,180 | €61,958 | -€45,221 | -42.2% |
| Amounts payable within one year | 42/48 | €809,221 | €1,359,349 | +€550,128 | +68.0% |
| Current portion of amounts payable after more than one year | 42 | €56,706 | €45,221 | -€11,485 | -20.3% |
| Financial debts | 43 | €290,730 | €240,000 | -€50,730 | -17.4% |
| Credit institutions | 430/8 | €290,730 | €240,000 | -€50,730 | -17.4% |
| Trade debts | 44 | €257,632 | €172,216 | -€85,415 | -33.2% |
| Suppliers | 440/4 | €257,632 | €172,216 | -€85,415 | -33.2% |
| Taxes, remuneration and social security | 45 | €203,969 | €246,775 | +€42,807 | +21.0% |
| Taxes | 450/3 | €87,547 | €152,118 | +€64,570 | +73.8% |
| Remuneration and social security | 454/9 | €116,421 | €94,657 | -€21,764 | -18.7% |
| Other amounts payable | 47/48 | €185 | €655,137 | +€654,952 | +354872.1% |
| Accrued charges and deferred income | 492/3 | €53,795 | €142,673 | +€88,878 | +165.2% |
| Remuneration, social security and pensions | 62 | €848,067 | €817,536 | -€30,531 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,709 | €68,907 | +€6,198 | +9.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €34,007 | €7,629 | -€26,378 | -77.6% |
| Other operating charges | 640/8 | €13,372 | €11,464 | -€1,908 | -14.3% |
| Non-recurring operating charges | 66A | €15,644 | €14,579 | -€1,065 | -6.8% |
| Gross operating margin | 9900 | €1,249,414 | €1,402,880 | +€153,466 | +12.3% |
| Operating profit (loss) | 9901 | €275,615 | €482,765 | +€207,150 | +75.2% |
| Financial income | 75/76B | €93,067 | €123,491 | +€30,425 | +32.7% |
| Recurring financial income | 75 | €93,067 | €123,491 | +€30,425 | +32.7% |
| Financial charges | 65/66B | €66,185 | €46,824 | -€19,361 | -29.3% |
| Recurring financial charges | 65 | €66,185 | €46,824 | -€19,361 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | €302,497 | €559,433 | +€256,936 | +84.9% |
| Income taxes | 67/77 | €78,410 | €147,276 | +€68,866 | +87.8% |
| Profit (loss) for the period | 9904 | €224,087 | €412,157 | +€188,070 | +83.9% |
| Profit (loss) for the period to be appropriated | 9905 | €224,087 | €412,157 | +€188,070 | +83.9% |
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.