VERSARO: 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.
VERSARO
Largest movements
- Cash +€12,565
up €12,565 (+13.5%), from €93,148 to €105,713
mainly Other debts (+€64,454) and Net result for the year (+€17,214)
- Tangible fixed assets -€5,435
down €5,435 (-23.5%), from €23,100 to €17,665
of which Leasing and similar rights: -€7,230
- Other debts +€64,454
up €64,454 (+1531.8%), from €4,208 to €68,662
- Profit (loss) carried forward -€23,823
no longer reported in 2025 (was €23,823)
- Reserves -€23,135
down €23,135 (-48.6%), from €47,636 to €24,500
- Debts after one year -€7,067
down €7,067 (-61.6%), from €11,481 to €4,414
- Trade debts -€1,700
down €1,700 (-31.1%), from €5,467 to €3,767
- Gross operating margin -€8,051
down €8,051 (-17.2%), from €46,770 to €38,719
- Taxes -€2,920
down €2,920 (-27.0%), from €10,809 to €7,889
- Depreciation +€1,699
up €1,699 (+16.6%), from €10,255 to €11,954
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 | €125,809 | €134,228 | +€8,419 | +6.7% |
| Fixed assets | 21/28 | €23,120 | €17,685 | -€5,435 | -23.5% |
| Tangible fixed assets | 22/27 | €23,100 | €17,665 | -€5,435 | -23.5% |
| Plant, machinery and equipment | 23 | €555 | €355 | -€200 | -36.0% |
| Furniture and vehicles | 24 | €4,559 | €6,554 | +€1,995 | +43.8% |
| Leasing and similar rights | 25 | €17,986 | €10,756 | -€7,230 | -40.2% |
| Financial fixed assets | 28 | €20 | €20 | = | 0.0% |
| Current assets | 29/58 | €102,689 | €116,543 | +€13,854 | +13.5% |
| Stocks and contracts in progress | 3 | €5,126 | €5,126 | = | 0.0% |
| Stocks | 30/36 | €5,126 | €5,126 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,415 | €5,200 | +€785 | +17.8% |
| Trade receivables | 40 | €3,087 | €1,728 | -€1,359 | -44.0% |
| Other amounts receivable | 41 | €1,328 | €3,472 | +€2,144 | +161.4% |
| Cash at bank and in hand | 54/58 | €93,148 | €105,713 | +€12,565 | +13.5% |
| Deferred charges and accrued income | 490/1 | - | €504 | +€504 | |
| Total equity and liabilities | 10/49 | €125,809 | €134,228 | +€8,419 | +6.7% |
| Equity | 10/15 | €86,458 | €39,500 | -€46,958 | -54.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €47,636 | €24,500 | -€23,135 | -48.6% |
| Distributable reserves | 133 | €47,636 | €24,500 | -€23,135 | -48.6% |
| Profit (loss) carried forward | 14 | €23,823 | - | -€23,823 | |
| Amounts payable | 17/49 | €39,351 | €94,728 | +€55,377 | +140.7% |
| Amounts payable after more than one year | 17 | €11,481 | €4,414 | -€7,067 | -61.6% |
| Financial debts | 170/4 | €11,481 | €4,414 | -€7,067 | -61.6% |
| Amounts payable within one year | 42/48 | €27,870 | €90,313 | +€62,444 | +224.1% |
| Current portion of amounts payable after more than one year | 42 | €6,986 | €7,067 | +€80 | +1.1% |
| Trade debts | 44 | €5,467 | €3,767 | -€1,700 | -31.1% |
| Suppliers | 440/4 | €5,467 | €3,767 | -€1,700 | -31.1% |
| Taxes, remuneration and social security | 45 | €11,209 | €10,818 | -€391 | -3.5% |
| Taxes | 450/3 | €11,209 | €10,818 | -€391 | -3.5% |
| Other amounts payable | 47/48 | €4,208 | €68,662 | +€64,454 | +1531.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,255 | €11,954 | +€1,699 | +16.6% |
| Other operating charges | 640/8 | €1,341 | €1,346 | +€5 | +0.4% |
| Gross operating margin | 9900 | €46,770 | €38,719 | -€8,051 | -17.2% |
| Operating profit (loss) | 9901 | €35,175 | €25,420 | -€9,755 | -27.7% |
| Financial income | 75/76B | €233 | €11 | -€223 | -95.5% |
| Recurring financial income | 75 | €233 | €11 | -€223 | -95.5% |
| Financial charges | 65/66B | €777 | €328 | -€449 | -57.8% |
| Recurring financial charges | 65 | €777 | €328 | -€449 | -57.8% |
| Profit (loss) for the period before taxes | 9903 | €34,632 | €25,103 | -€9,529 | -27.5% |
| Income taxes | 67/77 | €10,809 | €7,889 | -€2,920 | -27.0% |
| Profit (loss) for the period | 9904 | €23,823 | €17,214 | -€6,609 | -27.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,823 | €17,214 | -€6,609 | -27.7% |
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 12 October 2026 via checked.be.