VERSO SERVICES: 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 SERVICES
Largest movements
- Receivables within one year +€100,964
up €100,964 (+55.4%), from €182,085 to €283,049
of which Trade receivables: +€112,116
- Cash +€29,332
up €29,332 (+95.8%), from €30,634 to €59,966
mainly Trade debts (+€122,869) and Depreciation (+€5,362)
- Tangible fixed assets -€4,811
down €4,811 (-24.4%), from €19,749 to €14,939
- Trade debts +€122,869
up €122,869 (+207%), from €59,281 to €182,151
- Gross operating margin -€33,488
down €33,488 (-76.5%), from €43,750 to €10,262
- Staff costs -€14,078
down €14,078, from €13,980 to -€98
- Depreciation -€14,060
down €14,060 (-72.4%), from €19,422 to €5,362
- Taxes -€2,092
down €2,092 (-71.1%), from €2,941 to €849
- Other operating charges +€1,179
up €1,179 (+152%), from €775 to €1,954
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.
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 | €233,019 | €357,953 | +€124,934 | +53.6% |
| Fixed assets | 21/28 | €20,301 | €14,939 | -€5,362 | -26.4% |
| Intangible fixed assets | 21 | €552 | - | -€552 | |
| Tangible fixed assets | 22/27 | €19,749 | €14,939 | -€4,811 | -24.4% |
| Plant, machinery and equipment | 23 | €289 | €36 | -€253 | -87.6% |
| Furniture and vehicles | 24 | €3,844 | €1,628 | -€2,216 | -57.6% |
| Other tangible fixed assets | 26 | €15,616 | €13,274 | -€2,342 | -15.0% |
| Current assets | 29/58 | €212,719 | €343,014 | +€130,296 | +61.3% |
| Amounts receivable within one year | 40/41 | €182,085 | €283,049 | +€100,964 | +55.4% |
| Trade receivables | 40 | €167,249 | €279,365 | +€112,116 | +67.0% |
| Other amounts receivable | 41 | €14,836 | €3,684 | -€11,152 | -75.2% |
| Cash at bank and in hand | 54/58 | €30,634 | €59,966 | +€29,332 | +95.8% |
| Total equity and liabilities | 10/49 | €233,019 | €357,953 | +€124,934 | +53.6% |
| Equity | 10/15 | €173,738 | €175,802 | +€2,064 | +1.2% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €12,395 | €12,395 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,397 | €39,461 | +€2,064 | +5.5% |
| Amounts payable | 17/49 | €59,281 | €182,151 | +€122,869 | +207% |
| Amounts payable within one year | 42/48 | €59,281 | €182,151 | +€122,869 | +207% |
| Trade debts | 44 | €59,281 | €182,151 | +€122,869 | +207% |
| Suppliers | 440/4 | €59,281 | €182,151 | +€122,869 | +207% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €13,980 | -€98 | -€14,078 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,422 | €5,362 | -€14,060 | -72.4% |
| Other operating charges | 640/8 | €775 | €1,954 | +€1,179 | +152% |
| Gross operating margin | 9900 | €43,750 | €10,262 | -€33,488 | -76.5% |
| Operating profit (loss) | 9901 | €9,572 | €3,043 | -€6,529 | -68.2% |
| Financial charges | 65/66B | €30 | €130 | +€100 | +334% |
| Recurring financial charges | 65 | €30 | €130 | +€100 | +334% |
| Profit (loss) for the period before taxes | 9903 | €9,542 | €2,913 | -€6,629 | -69.5% |
| Income taxes | 67/77 | €2,941 | €849 | -€2,092 | -71.1% |
| Profit (loss) for the period | 9904 | €6,601 | €2,064 | -€4,536 | -68.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,601 | €2,064 | -€4,536 | -68.7% |
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 17 October 2026 via checked.be.