VersiCor: 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.
VersiCor
Largest movements
- Receivables within one year -€220,437
down €220,437 (-90.0%), from €244,928 to €24,491
of which Other amounts receivable: -€220,516
- Cash -€151,340
down €151,340 (-80.7%), from €187,595 to €36,255
mainly Contributions, distributions and other (-€384,046) and Debts after one year (-€158,864)
- Tangible fixed assets -€130,203
down €130,203 (-7.1%), from €1.8m to €1.7m
of which Land and buildings: -€127,095
- Deferred charges and accrued income +€33,126
up €33,126 (+82.6%), from €40,120 to €73,246
- Reserves -€300,897
down €300,897 (-25.7%), from €1.2m to €870,354
of which Distributable reserves: -€300,897
- Debts after one year -€158,864
down €158,864 (-15.0%), from €1.1m to €902,018
- Gross operating margin -€311,725
down €311,725 (-51.9%), from €600,118 to €288,393
- Taxes -€95,403
down €95,403 (-74.0%), from €128,938 to €33,536
- Depreciation -€7,237
down €7,237 (-4.5%), from €160,118 to €152,880
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 | €2,468,782 | €2,008,827 | -€459,955 | -18.6% |
| Fixed assets | 21/28 | €1,839,329 | €1,709,126 | -€130,203 | -7.1% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €1,839,329 | €1,709,126 | -€130,203 | -7.1% |
| Land and buildings | 22 | €1,751,695 | €1,624,600 | -€127,095 | -7.3% |
| Plant, machinery and equipment | 23 | €77,969 | €72,020 | -€5,948 | -7.6% |
| Furniture and vehicles | 24 | €609 | €12,506 | +€11,897 | +1,952% |
| Leasing and similar rights | 25 | €9,056 | - | -€9,056 | |
| Current assets | 29/58 | €629,453 | €299,701 | -€329,752 | -52.4% |
| Amounts receivable within one year | 40/41 | €244,928 | €24,491 | -€220,437 | -90.0% |
| Trade receivables | 40 | €968 | €1,048 | +€80 | +8.2% |
| Other amounts receivable | 41 | €243,959 | €23,443 | -€220,516 | -90.4% |
| Current investments | 50/53 | €156,811 | €165,709 | +€8,898 | +5.7% |
| Cash at bank and in hand | 54/58 | €187,595 | €36,255 | -€151,340 | -80.7% |
| Deferred charges and accrued income | 490/1 | €40,120 | €73,246 | +€33,126 | +82.6% |
| Total equity and liabilities | 10/49 | €2,468,782 | €2,008,827 | -€459,955 | -18.6% |
| Equity | 10/15 | €1,189,851 | €888,954 | -€300,897 | -25.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,171,251 | €870,354 | -€300,897 | -25.7% |
| Tax-exempt reserves | 132 | €175 | €175 | = | 0.0% |
| Distributable reserves | 133 | €1,171,077 | €870,179 | -€300,897 | -25.7% |
| Amounts payable | 17/49 | €1,278,930 | €1,119,873 | -€159,058 | -12.4% |
| Amounts payable after more than one year | 17 | €1,060,882 | €902,018 | -€158,864 | -15.0% |
| Financial debts | 170/4 | €1,060,882 | €902,018 | -€158,864 | -15.0% |
| Amounts payable within one year | 42/48 | €217,211 | €217,112 | -€98 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €208,116 | €186,484 | -€21,632 | -10.4% |
| Trade debts | 44 | €9,095 | €21,028 | +€11,933 | +131% |
| Suppliers | 440/4 | €9,095 | €21,028 | +€11,933 | +131% |
| Taxes, remuneration and social security | 45 | - | €9,600 | +€9,600 | |
| Taxes | 450/3 | - | €9,600 | +€9,600 | |
| Accrued charges and deferred income | 492/3 | €838 | €742 | -€95 | -11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €160,118 | €152,880 | -€7,237 | -4.5% |
| Other operating charges | 640/8 | €7,063 | €7,279 | +€217 | +3.1% |
| Gross operating margin | 9900 | €600,118 | €288,393 | -€311,725 | -51.9% |
| Operating profit (loss) | 9901 | €432,938 | €128,233 | -€304,705 | -70.4% |
| Financial income | 75/76B | €13,787 | €15,682 | +€1,895 | +13.7% |
| Recurring financial income | 75 | €13,787 | €15,682 | +€1,895 | +13.7% |
| Financial charges | 65/66B | €32,012 | €27,231 | -€4,781 | -14.9% |
| Recurring financial charges | 65 | €32,012 | €27,231 | -€4,781 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | €414,713 | €116,684 | -€298,028 | -71.9% |
| Income taxes | 67/77 | €128,938 | €33,536 | -€95,403 | -74.0% |
| Profit (loss) for the period | 9904 | €285,774 | €83,149 | -€202,626 | -70.9% |
| Profit (loss) for the period to be appropriated | 9905 | €285,774 | €83,149 | -€202,626 | -70.9% |
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 14 October 2026 via checked.be.