VERSTAPPEN: 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.
VERSTAPPEN
Largest movements
- Tangible fixed assets -€7,898
down €7,898 (-41.9%), from €18,860 to €10,963
of which Furniture and vehicles: -€7,305
- Cash -€6,730
down €6,730 (-11.1%), from €60,593 to €53,862
mainly Other debts (-€13,968) and Current portion of long-term debt (-€6,415)
- Receivables within one year -€5,341
down €5,341 (-5.9%), from €90,854 to €85,514
of which Other amounts receivable: -€4,697
- Other debts -€13,968
down €13,968 (-100.0%), from €13,968 to €0
- Current portion of long-term debt -€6,415
down €6,415 (-100.0%), from €6,415 to €0
- Trade debts +€4,296
up €4,296 (+179.8%), from €2,389 to €6,684
- Tax, wage and social debts -€2,875
down €2,875 (-28.6%), from €10,069 to €7,193
of which Remuneration and social security: -€2,035
- Gross operating margin +€1,466
up €1,466 (+2.8%), from €51,469 to €52,935
- Financial income -€950
down €950 (-17.6%), from €5,400 to €4,450
- Other operating charges -€645
down €645 (-45.0%), from €1,433 to €788
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 | €214,149 | €194,855 | -€19,294 | -9.0% |
| Fixed assets | 21/28 | €18,860 | €10,963 | -€7,898 | -41.9% |
| Tangible fixed assets | 22/27 | €18,860 | €10,963 | -€7,898 | -41.9% |
| Plant, machinery and equipment | 23 | €4,859 | €4,267 | -€593 | -12.2% |
| Furniture and vehicles | 24 | €14,001 | €6,696 | -€7,305 | -52.2% |
| Current assets | 29/58 | €195,289 | €183,893 | -€11,396 | -5.8% |
| Stocks and contracts in progress | 3 | €39,611 | €40,265 | +€654 | +1.7% |
| Stocks | 30/36 | €39,611 | €40,265 | +€654 | +1.7% |
| Amounts receivable within one year | 40/41 | €90,854 | €85,514 | -€5,341 | -5.9% |
| Trade receivables | 40 | €644 | €0 | -€644 | -100.0% |
| Other amounts receivable | 41 | €90,211 | €85,514 | -€4,697 | -5.2% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €60,593 | €53,862 | -€6,730 | -11.1% |
| Deferred charges and accrued income | 490/1 | €4,231 | €4,252 | +€21 | +0.5% |
| Total equity and liabilities | 10/49 | €214,149 | €194,855 | -€19,294 | -9.0% |
| Equity | 10/15 | €118,855 | €117,916 | -€939 | -0.8% |
| Contributions | 10/11 | €12,237 | €12,237 | = | 0.0% |
| Reserves | 13 | €106,618 | €105,679 | -€939 | -0.9% |
| Tax-exempt reserves | 132 | €391 | €391 | = | 0.0% |
| Distributable reserves | 133 | €106,227 | €105,288 | -€939 | -0.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €59,874 | €59,874 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €59,874 | €59,874 | = | 0.0% |
| Pensions and similar obligations | 160 | €59,874 | €59,874 | = | 0.0% |
| Amounts payable | 17/49 | €35,420 | €17,066 | -€18,354 | -51.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €32,841 | €13,878 | -€18,963 | -57.7% |
| Current portion of amounts payable after more than one year | 42 | €6,415 | €0 | -€6,415 | -100.0% |
| Trade debts | 44 | €2,389 | €6,684 | +€4,296 | +179.8% |
| Suppliers | 440/4 | €2,389 | €6,684 | +€4,296 | +179.8% |
| Taxes, remuneration and social security | 45 | €10,069 | €7,193 | -€2,875 | -28.6% |
| Taxes | 450/3 | €2,182 | €1,341 | -€841 | -38.5% |
| Remuneration and social security | 454/9 | €7,887 | €5,852 | -€2,035 | -25.8% |
| Other amounts payable | 47/48 | €13,968 | €0 | -€13,968 | -100.0% |
| Accrued charges and deferred income | 492/3 | €2,580 | €3,188 | +€609 | +23.6% |
| Remuneration, social security and pensions | 62 | €48,376 | €48,841 | +€465 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,368 | €7,898 | -€471 | -5.6% |
| Other operating charges | 640/8 | €1,433 | €788 | -€645 | -45.0% |
| Gross operating margin | 9900 | €51,469 | €52,935 | +€1,466 | +2.8% |
| Operating profit (loss) | 9901 | -€6,709 | -€4,592 | +€2,117 | +31.6% |
| Financial income | 75/76B | €5,400 | €4,450 | -€950 | -17.6% |
| Recurring financial income | 75 | €5,400 | €4,450 | -€950 | -17.6% |
| Financial charges | 65/66B | €798 | €665 | -€132 | -16.6% |
| Recurring financial charges | 65 | €798 | €665 | -€132 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | -€2,107 | -€807 | +€1,300 | +61.7% |
| Income taxes | 67/77 | €288 | €132 | -€156 | -54.1% |
| Profit (loss) for the period | 9904 | -€2,395 | -€939 | +€1,455 | +60.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,395 | -€939 | +€1,455 | +60.8% |
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 8 October 2026 via checked.be.