VERSO LOGISTIC: 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.
VERSO LOGISTIC
Largest movements
- Tangible fixed assets +€900,517
up €900,517 (+461%), from €195,160 to €1.1m
of which Leasing and similar rights: +€465,775
- Receivables within one year +€168,550
up €168,550 (+32.4%), from €519,434 to €687,984
of which Other amounts receivable: +€115,704
- Debts after one year +€600,077
up €600,077 (+1,061%), from €56,577 to €656,654
- Trade debts +€237,031
up €237,031 (+108%), from €220,282 to €457,313
- Tax, wage and social debts +€189,392
up €189,392 (+371%), from €51,059 to €240,450
of which Remuneration and social security: +€107,837
- Current portion of long-term debt +€177,553
up €177,553 (+299%), from €59,405 to €236,958
- Short-term financial debts -€150,000
no longer reported in 2025 (was €150,000)
- Gross operating margin +€680,571
up €680,571 (+54.2%), from €1.3m to €1.9m
- Staff costs +€603,436
up €603,436 (+67.4%), from €895,150 to €1.5m
- Taxes +€64,652
up €64,652 (+3,709%), from €1,743 to €66,395
- Other operating charges +€45,527
up €45,527 (+31.2%), from €146,136 to €191,663
- Depreciation +€42,370
up €42,370 (+36.6%), from €115,907 to €158,277
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 | €791,608 | €1,846,195 | +€1.1m | +133% |
| Fixed assets | 21/28 | €205,210 | €1,105,727 | +€900,517 | +439% |
| Tangible fixed assets | 22/27 | €195,160 | €1,095,677 | +€900,517 | +461% |
| Land and buildings | 22 | - | €389,815 | +€389,815 | |
| Plant, machinery and equipment | 23 | €40,316 | €46,883 | +€6,568 | +16.3% |
| Furniture and vehicles | 24 | €131,749 | €175,809 | +€44,060 | +33.4% |
| Leasing and similar rights | 25 | - | €465,775 | +€465,775 | |
| Other tangible fixed assets | 26 | €23,095 | €17,395 | -€5,700 | -24.7% |
| Financial fixed assets | 28 | €10,050 | €10,050 | = | 0.0% |
| Current assets | 29/58 | €586,399 | €740,468 | +€154,069 | +26.3% |
| Amounts receivable within one year | 40/41 | €519,434 | €687,984 | +€168,550 | +32.4% |
| Trade receivables | 40 | €515,342 | €568,188 | +€52,846 | +10.3% |
| Other amounts receivable | 41 | €4,092 | €119,796 | +€115,704 | +2,827% |
| Cash at bank and in hand | 54/58 | €29,302 | €28,317 | -€985 | -3.4% |
| Deferred charges and accrued income | 490/1 | €37,663 | €24,167 | -€13,496 | -35.8% |
| Total equity and liabilities | 10/49 | €791,608 | €1,846,195 | +€1.1m | +133% |
| Equity | 10/15 | €243,076 | €222,910 | -€20,165 | -8.3% |
| Contributions | 10/11 | €18,400 | €18,400 | = | 0.0% |
| Reserves | 13 | €153,743 | €153,743 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €151,883 | €151,883 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,933 | €50,768 | -€20,165 | -28.4% |
| Amounts payable | 17/49 | €548,533 | €1,623,285 | +€1.1m | +196% |
| Amounts payable after more than one year | 17 | €56,577 | €656,654 | +€600,077 | +1,061% |
| Financial debts | 170/4 | €56,577 | €656,654 | +€600,077 | +1,061% |
| Amounts payable within one year | 42/48 | €482,967 | €966,630 | +€483,663 | +100% |
| Current portion of amounts payable after more than one year | 42 | €59,405 | €236,958 | +€177,553 | +299% |
| Financial debts | 43 | €150,000 | - | -€150,000 | |
| Credit institutions | 430/8 | €150,000 | - | -€150,000 | |
| Trade debts | 44 | €220,282 | €457,313 | +€237,031 | +108% |
| Suppliers | 440/4 | €220,282 | €457,313 | +€237,031 | +108% |
| Taxes, remuneration and social security | 45 | €51,059 | €240,450 | +€189,392 | +371% |
| Taxes | 450/3 | €34,921 | €116,475 | +€81,554 | +234% |
| Remuneration and social security | 454/9 | €16,138 | €123,975 | +€107,837 | +668% |
| Other amounts payable | 47/48 | €2,221 | €31,909 | +€29,688 | +1,336% |
| Accrued charges and deferred income | 492/3 | €8,988 | - | -€8,988 | |
| Remuneration, social security and pensions | 62 | €895,150 | €1,498,586 | +€603,436 | +67.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,907 | €158,277 | +€42,370 | +36.6% |
| Other operating charges | 640/8 | €146,136 | €191,663 | +€45,527 | +31.2% |
| Non-recurring operating charges | 66A | €1,577 | - | -€1,577 | |
| Gross operating margin | 9900 | €1,254,567 | €1,935,138 | +€680,571 | +54.2% |
| Operating profit (loss) | 9901 | €95,797 | €86,612 | -€9,185 | -9.6% |
| Financial charges | 65/66B | €23,121 | €40,382 | +€17,261 | +74.7% |
| Recurring financial charges | 65 | €23,121 | €40,382 | +€17,261 | +74.7% |
| Profit (loss) for the period before taxes | 9903 | €72,676 | €46,230 | -€26,446 | -36.4% |
| Income taxes | 67/77 | €1,743 | €66,395 | +€64,652 | +3,709% |
| Profit (loss) for the period | 9904 | €70,933 | -€20,165 | -€91,098 | |
| Profit (loss) for the period to be appropriated | 9905 | €70,933 | -€20,165 | -€91,098 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.