VERSO: 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.
What changed
VERSO
NACE 47.716, Retail sale of clothing and accessories for women, men, children and babies (general range)
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€73,425
2024 · €144,869-€71,444
Equity
€5.4m
2024 · €5.3m+€73,425
Cash
€397,314
2024 · €724,084-€326,770
Balance sheet total
€11.6m
2024 · €9.4m+€2.2m
Largest movements
Assets
- Stocks and contracts +€2.3m
up €2.3m (+47.9%), from €4.7m to €7.0m
- Receivables within one year +€369,947
up €369,947 (+42.3%), from €873,775 to €1.2m
of which Other amounts receivable: +€523,155
- Cash -€326,770
down €326,770 (-45.1%), from €724,084 to €397,314
mainly Stocks and contracts (-€2.3m) and Receivables within one year (-€369,947)
Equity and liabilities
- Trade debts +€1.5m
up €1.5m (+65.1%), from €2.2m to €3.7m
- Short-term financial debts +€585,144
up €585,144 (+283.4%), from €206,498 to €791,642
- Tax, wage and social debts +€297,735
up €297,735 (+62.9%), from €473,263 to €770,998
of which Remuneration and social security: +€181,261
- Debts after one year -€210,898
down €210,898 (-26.5%), from €795,766 to €584,868
Income statement
- Goods and materials -€556,171
down €556,171 (-4.5%), from €12.3m to €11.7m
of which Change in stocks: decrease (increase): -€3.0m
- Staff costs +€445,024
up €445,024 (+18.2%), from €2.4m to €2.9m
- Services and other goods +€299,156
up €299,156 (+6.3%), from €4.7m to €5.0m
- Other operating income +€227,042
up €227,042 (+102.6%), from €221,331 to €448,373
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.
Result 2024
€144,869
Turnover
-€173,723
Other operating income
+€227,042
Goods and materials
+€556,171
Services and other goods
-€299,156
Staff costs
-€445,024
Depreciation
-€12,049
Write-downs
+€149,571
Other operating charges
-€48,001
Other operating items
-€43,186
Financial income
-€6,999
Financial charges
+€1,234
Taxes
+€22,676
Result 2025
€73,425
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.
From operations
-€491,633
Investment
-€213,373
Financing
+€378,236
Cash 2024
€724,084
From operations (derived)
-€491,633
Net result for the year
+€73,425
Depreciation
+€294,084
Stocks and contracts
-€2.3m
Receivables within one year
-€369,947
Deferred charges and accrued income
-€6,141
Trade debts
+€1.5m
Tax, wage and social debts
+€297,735
Other debts
+€16,902
Investment (derived)
-€213,373
Investment in fixed assets (net)
-€213,373
Financing
+€378,236
Debts after one year
-€210,898
Current portion of long-term debt
+€3,990
Short-term financial debts
+€585,144
Cash 2025
€397,314
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,389,796 | €11,619,104 | +€2.2m | +23.7% |
| Fixed assets | 21/28 | €2,996,409 | €2,915,698 | -€80,711 | -2.7% |
| Intangible fixed assets | 21 | €10,564 | €7,110 | -€3,454 | -32.7% |
| Tangible fixed assets | 22/27 | €1,218,457 | €1,195,886 | -€22,571 | -1.9% |
| Plant, machinery and equipment | 23 | €54,525 | €66,822 | +€12,297 | +22.6% |
| Furniture and vehicles | 24 | €44,198 | €30,874 | -€13,324 | -30.1% |
| Other tangible fixed assets | 26 | €1,119,734 | €1,098,190 | -€21,544 | -1.9% |
| Financial fixed assets | 28 | €1,767,387 | €1,712,701 | -€54,686 | -3.1% |
| Affiliated companies | 280/1 | €1,767,237 | €1,707,551 | -€59,686 | -3.4% |
| Participating interests | 280 | €2,000 | €2,000 | = | 0.0% |
| Amounts receivable | 281 | €1,765,237 | €1,705,551 | -€59,686 | -3.4% |
| Other financial fixed assets | 284/8 | €150 | €5,150 | +€5,000 | +3333.3% |
| Amounts receivable and cash guarantees | 285/8 | €150 | €5,150 | +€5,000 | +3333.3% |
| Current assets | 29/58 | €6,393,388 | €8,703,406 | +€2.3m | +36.1% |
| Stocks and contracts in progress | 3 | €4,715,474 | €6,976,175 | +€2.3m | +47.9% |
| Stocks | 30/36 | €4,715,474 | €6,976,175 | +€2.3m | +47.9% |
| Goods purchased for resale | 34 | €4,715,474 | €6,976,175 | +€2.3m | +47.9% |
| Amounts receivable within one year | 40/41 | €873,775 | €1,243,722 | +€369,947 | +42.3% |
| Trade receivables | 40 | €622,228 | €469,020 | -€153,208 | -24.6% |
| Other amounts receivable | 41 | €251,547 | €774,702 | +€523,155 | +208.0% |
| Cash at bank and in hand | 54/58 | €724,084 | €397,314 | -€326,770 | -45.1% |
| Deferred charges and accrued income | 490/1 | €80,054 | €86,195 | +€6,141 | +7.7% |
| Total equity and liabilities | 10/49 | €9,389,796 | €11,619,104 | +€2.2m | +23.7% |
| Equity | 10/15 | €5,308,626 | €5,382,051 | +€73,425 | +1.4% |
| Contributions | 10/11 | €1,562,000 | €1,562,000 | = | 0.0% |
| Capital | 10 | €1,562,000 | €1,562,000 | = | 0.0% |
| Issued capital | 100 | €1,562,000 | €1,562,000 | = | 0.0% |
| Reserves | 13 | €3,746,626 | €3,820,051 | +€73,425 | +2.0% |
| Non-distributable reserves | 130/1 | €6,200 | €156,200 | +€150,000 | +2419.4% |
| Legal reserve | 130 | €6,200 | €156,200 | +€150,000 | +2419.4% |
| Distributable reserves | 133 | €3,740,426 | €3,663,851 | -€76,575 | -2.0% |
| Amounts payable | 17/49 | €4,081,170 | €6,237,053 | +€2.2m | +52.8% |
| Amounts payable after more than one year | 17 | €795,766 | €584,868 | -€210,898 | -26.5% |
| Financial debts | 170/4 | €795,766 | €584,868 | -€210,898 | -26.5% |
| Credit institutions | 173 | €795,766 | €584,868 | -€210,898 | -26.5% |
| Amounts payable within one year | 42/48 | €3,285,405 | €5,652,185 | +€2.4m | +72.0% |
| Current portion of amounts payable after more than one year | 42 | €245,065 | €249,055 | +€3,990 | +1.6% |
| Financial debts | 43 | €206,498 | €791,642 | +€585,144 | +283.4% |
| Credit institutions | 430/8 | €206,498 | €791,642 | +€585,144 | +283.4% |
| Trade debts | 44 | €2,246,578 | €3,709,588 | +€1.5m | +65.1% |
| Suppliers | 440/4 | €2,246,578 | €3,709,588 | +€1.5m | +65.1% |
| Taxes, remuneration and social security | 45 | €473,263 | €770,998 | +€297,735 | +62.9% |
| Taxes | 450/3 | €272,152 | €388,625 | +€116,474 | +42.8% |
| Remuneration and social security | 454/9 | €201,111 | €382,373 | +€181,261 | +90.1% |
| Other amounts payable | 47/48 | €114,000 | €130,902 | +€16,902 | +14.8% |
| Operating income | 70/76A | €20,008,122 | €20,046,198 | +€38,075 | +0.2% |
| Turnover | 70 | €19,739,701 | €19,565,979 | -€173,723 | -0.9% |
| Other operating income | 74 | €221,331 | €448,373 | +€227,042 | +102.6% |
| Non-recurring operating income | 76A | €47,090 | €31,846 | -€15,244 | -32.4% |
| Operating charges | 60/66A | €19,786,061 | €19,912,491 | +€126,430 | +0.6% |
| Goods for resale, raw materials and consumables | 60 | €12,288,287 | €11,732,116 | -€556,171 | -4.5% |
| Purchases | 600/8 | €11,368,765 | €13,839,260 | +€2.5m | +21.7% |
| Change in stocks: decrease (increase) | 609 | €919,521 | -€2,107,144 | -€3.0m | |
| Services and other goods | 61 | €4,731,918 | €5,031,074 | +€299,156 | +6.3% |
| Remuneration, social security and pensions | 62 | €2,446,464 | €2,891,488 | +€445,024 | +18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €282,035 | €294,084 | +€12,049 | +4.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €25,005 | -€124,566 | -€149,571 | |
| Other operating charges | 640/8 | €2,998 | €50,999 | +€48,001 | +1601.1% |
| Non-recurring operating charges | 66A | €9,353 | €37,296 | +€27,942 | +298.7% |
| Operating profit (loss) | 9901 | €222,062 | €133,707 | -€88,355 | -39.8% |
| Financial income | 75/76B | €61,462 | €54,463 | -€6,999 | -11.4% |
| Recurring financial income | 75 | €61,462 | €54,463 | -€6,999 | -11.4% |
| Income from financial fixed assets | 750 | €61,462 | €53,386 | -€8,076 | -13.1% |
| Other financial income | 752/9 | - | €1,077 | +€1,077 | |
| Financial charges | 65/66B | €69,555 | €68,321 | -€1,234 | -1.8% |
| Recurring financial charges | 65 | €69,555 | €68,321 | -€1,234 | -1.8% |
| Debt charges | 650 | €50,568 | €57,700 | +€7,132 | +14.1% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €18,987 | €8,846 | -€10,141 | -53.4% |
| Other financial charges | 652/9 | - | €1,775 | +€1,775 | |
| Profit (loss) for the period before taxes | 9903 | €213,969 | €119,849 | -€94,120 | -44.0% |
| Income taxes | 67/77 | €69,099 | €46,423 | -€22,676 | -32.8% |
| Taxes | 670/3 | €69,099 | €46,423 | -€22,676 | -32.8% |
| Profit (loss) for the period | 9904 | €144,869 | €73,425 | -€71,444 | -49.3% |
| Profit (loss) for the period to be appropriated | 9905 | €144,869 | €73,425 | -€71,444 | -49.3% |
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 5 October 2026 via checked.be.