VERSO BEZETTINGSWERKEN: what changed
VERSO BEZETTINGSWERKEN
Largest movements
- Receivables within one year +€13,400
up €13,400 (+12.9%), from €103,973 to €117,373
of which Other amounts receivable: +€8,723
- Cash -€6,781
down €6,781 (-37.7%), from €17,968 to €11,187
mainly Receivables within one year (-€13,400) and Tax, wage and social debts (-€4,306)
- Tangible fixed assets -€3,758
down €3,758 (-34.1%), from €11,024 to €7,266
of which Furniture and vehicles: -€4,656
- Reserves +€9,024
up €9,024 (+11.0%), from €81,919 to €90,943
- Tax, wage and social debts -€4,306
down €4,306 (-37.7%), from €11,419 to €7,113
- Current portion of long-term debt -€3,435
down €3,435 (-57.1%), from €6,014 to €2,579
- Advances received +€3,390
new in 2025: €3,390
- Debts after one year -€2,579
down €2,579 (-28.8%), from €8,956 to €6,377
- Gross operating margin -€8,410
down €8,410 (-39.8%), from €21,150 to €12,740
- Taxes -€7,785
down €7,785 (-99.0%), from €7,867 to €82
- Staff costs -€4,072
down €4,072 (-99.6%), from €4,090 to €18
- Financial charges -€2,429
down €2,429 (-49.7%), from €4,893 to €2,463
- Depreciation +€1,131
up €1,131 (+28.4%), from €3,977 to €5,107
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €135,298 | €137,556 | +€2,258 | +1.7% |
| Fixed assets | 21/28 | €11,024 | €7,266 | -€3,758 | -34.1% |
| Tangible fixed assets | 22/27 | €11,024 | €7,266 | -€3,758 | -34.1% |
| Plant, machinery and equipment | 23 | €937 | €1,834 | +€897 | +95.8% |
| Furniture and vehicles | 24 | €10,087 | €5,432 | -€4,656 | -46.2% |
| Current assets | 29/58 | €124,274 | €130,290 | +€6,016 | +4.8% |
| Amounts receivable within one year | 40/41 | €103,973 | €117,373 | +€13,400 | +12.9% |
| Trade receivables | 40 | - | €4,677 | +€4,677 | |
| Other amounts receivable | 41 | €103,973 | €112,696 | +€8,723 | +8.4% |
| Cash at bank and in hand | 54/58 | €17,968 | €11,187 | -€6,781 | -37.7% |
| Deferred charges and accrued income | 490/1 | €2,333 | €1,730 | -€603 | -25.8% |
| Total equity and liabilities | 10/49 | €135,298 | €137,556 | +€2,258 | +1.7% |
| Equity | 10/15 | €100,519 | €109,543 | +€9,024 | +9.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €81,919 | €90,943 | +€9,024 | +11.0% |
| Distributable reserves | 133 | €81,919 | €90,943 | +€9,024 | +11.0% |
| Amounts payable | 17/49 | €34,779 | €28,012 | -€6,767 | -19.5% |
| Amounts payable after more than one year | 17 | €8,956 | €6,377 | -€2,579 | -28.8% |
| Financial debts | 170/4 | €8,956 | €6,377 | -€2,579 | -28.8% |
| Amounts payable within one year | 42/48 | €25,823 | €21,635 | -€4,188 | -16.2% |
| Current portion of amounts payable after more than one year | 42 | €6,014 | €2,579 | -€3,435 | -57.1% |
| Trade debts | 44 | €8,391 | €8,554 | +€163 | +1.9% |
| Suppliers | 440/4 | €8,391 | €8,554 | +€163 | +1.9% |
| Advances received on contracts in progress | 46 | - | €3,390 | +€3,390 | |
| Taxes, remuneration and social security | 45 | €11,419 | €7,113 | -€4,306 | -37.7% |
| Taxes | 450/3 | €11,419 | €7,113 | -€4,306 | -37.7% |
| Non-recurring operating income | 76A | €2,940 | - | -€2,940 | |
| Remuneration, social security and pensions | 62 | €4,090 | €18 | -€4,072 | -99.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,977 | €5,107 | +€1,131 | +28.4% |
| Other operating charges | 640/8 | €2,537 | €1,781 | -€756 | -29.8% |
| Non-recurring operating charges | 66A | - | €118 | +€118 | |
| Gross operating margin | 9900 | €21,150 | €12,740 | -€8,410 | -39.8% |
| Operating profit (loss) | 9901 | €10,546 | €5,716 | -€4,831 | -45.8% |
| Financial income | 75/76B | €6,462 | €5,854 | -€608 | -9.4% |
| Recurring financial income | 75 | €6,462 | €5,854 | -€608 | -9.4% |
| Financial charges | 65/66B | €4,893 | €2,463 | -€2,429 | -49.7% |
| Recurring financial charges | 65 | €4,893 | €2,463 | -€2,429 | -49.7% |
| Profit (loss) for the period before taxes | 9903 | €12,116 | €9,107 | -€3,009 | -24.8% |
| Income taxes | 67/77 | €7,867 | €82 | -€7,785 | -99.0% |
| Profit (loss) for the period | 9904 | €4,248 | €9,024 | +€4,776 | +112% |
| Profit (loss) for the period to be appropriated | 9905 | €4,248 | €9,024 | +€4,776 | +112% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.