VERSTACO: 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.
VERSTACO
Largest movements
- Current investments +€57,829
up €57,829 (+146.3%), from €39,522 to €97,350
- Receivables within one year +€31,496
up €31,496 (+197.2%), from €15,972 to €47,468
of which Trade receivables: +€31,050
- Cash +€22,922
up €22,922 (+29.8%), from €76,858 to €99,781
mainly Net result for the year (+€98,364) and Depreciation (+€14,942)
- Tangible fixed assets -€9,719
down €9,719 (-9.2%), from €106,160 to €96,441
of which Other tangible fixed assets: -€8,911
- Reserves +€98,364
up €98,364 (+45.2%), from €217,611 to €315,975
- Trade debts +€12,714
up €12,714 (+2318.2%), from €548 to €13,262
- Tax, wage and social debts -€6,002
down €6,002 (-27.9%), from €21,533 to €15,531
- Gross operating margin +€36,968
up €36,968 (+30.1%), from €122,834 to €159,802
- Taxes +€10,938
up €10,938 (+35.4%), from €30,885 to €41,823
- Financial charges +€2,925
up €2,925 (+517.2%), from €565 to €3,490
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €254,435 | €357,561 | +€103,127 | +40.5% |
| Fixed assets | 21/28 | €106,160 | €96,441 | -€9,719 | -9.2% |
| Tangible fixed assets | 22/27 | €106,160 | €96,441 | -€9,719 | -9.2% |
| Plant, machinery and equipment | 23 | €2,075 | €2,240 | +€165 | +7.9% |
| Furniture and vehicles | 24 | €2,261 | €1,288 | -€973 | -43.0% |
| Other tangible fixed assets | 26 | €101,824 | €92,913 | -€8,911 | -8.8% |
| Current assets | 29/58 | €148,275 | €261,121 | +€112,846 | +76.1% |
| Amounts receivable within one year | 40/41 | €15,972 | €47,468 | +€31,496 | +197.2% |
| Trade receivables | 40 | €15,972 | €47,022 | +€31,050 | +194.4% |
| Other amounts receivable | 41 | €0 | €447 | +€447 | |
| Current investments | 50/53 | €39,522 | €97,350 | +€57,829 | +146.3% |
| Cash at bank and in hand | 54/58 | €76,858 | €99,781 | +€22,922 | +29.8% |
| Deferred charges and accrued income | 490/1 | €15,923 | €16,521 | +€598 | +3.8% |
| Total equity and liabilities | 10/49 | €254,435 | €357,561 | +€103,127 | +40.5% |
| Equity | 10/15 | €226,942 | €325,306 | +€98,364 | +43.3% |
| Contributions | 10/11 | €9,331 | €9,331 | = | 0.0% |
| Reserves | 13 | €217,611 | €315,975 | +€98,364 | +45.2% |
| Distributable reserves | 133 | €217,611 | €315,975 | +€98,364 | +45.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €27,493 | €32,255 | +€4,763 | +17.3% |
| Amounts payable within one year | 42/48 | €27,493 | €32,255 | +€4,763 | +17.3% |
| Trade debts | 44 | €548 | €13,262 | +€12,714 | +2318.2% |
| Suppliers | 440/4 | €548 | €13,262 | +€12,714 | +2318.2% |
| Taxes, remuneration and social security | 45 | €21,533 | €15,531 | -€6,002 | -27.9% |
| Taxes | 450/3 | €21,533 | €15,531 | -€6,002 | -27.9% |
| Other amounts payable | 47/48 | €5,411 | €3,462 | -€1,950 | -36.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,708 | €14,942 | +€1,235 | +9.0% |
| Other operating charges | 640/8 | €3,235 | €2,336 | -€898 | -27.8% |
| Gross operating margin | 9900 | €122,834 | €159,802 | +€36,968 | +30.1% |
| Operating profit (loss) | 9901 | €105,892 | €142,523 | +€36,631 | +34.6% |
| Financial income | 75/76B | €0 | €1,154 | +€1,154 | +3848033.3% |
| Recurring financial income | 75 | €0 | €1,154 | +€1,154 | +3848033.3% |
| Financial charges | 65/66B | €565 | €3,490 | +€2,925 | +517.2% |
| Recurring financial charges | 65 | €565 | €3,490 | +€2,925 | +517.2% |
| Profit (loss) for the period before taxes | 9903 | €105,326 | €140,187 | +€34,861 | +33.1% |
| Income taxes | 67/77 | €30,885 | €41,823 | +€10,938 | +35.4% |
| Profit (loss) for the period | 9904 | €74,442 | €98,364 | +€23,923 | +32.1% |
| Profit (loss) for the period to be appropriated | 9905 | €74,442 | €98,364 | +€23,923 | +32.1% |
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 10 October 2026 via checked.be.