VERSTE: 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.
What changed
VERSTE
NACE 64.910, Financial service activities, except insurance and pension funding
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€262,258
2024 · €315,305-€53,047
Equity
€1.2m
2024 · €1.8m-€659,061
Cash
€204,061
2024 · €262,073-€58,012
Balance sheet total
€10.0m
2024 · €7.4m+€2.7m
Largest movements
Assets
- Current investments +€3.0m
new in 2025: €3.0m
- Tangible fixed assets -€420,172
down €420,172 (-6.0%), from €7.1m to €6.6m
of which Land and buildings: -€1.0m
- Receivables within one year +€154,181
up €154,181 (+601.1%), from €25,649 to €179,830
of which Trade receivables: +€159,694
Equity and liabilities
- Other debts +€3.7m
up €3.7m (+402.5%), from €918,440 to €4.6m
- Reserves -€561,529
down €561,529 (-34.7%), from €1.6m to €1.1m
of which Distributable reserves: -€405,325
- Debts after one year -€366,667
down €366,667 (-8.9%), from €4.1m to €3.8m
Income statement
- Turnover +€367,829
up €367,829 (+46.7%), from €788,407 to €1.2m
- Other operating income -€325,443
down €325,443 (-95.1%), from €342,042 to €16,599
- Goods and materials +€104,488
up €104,488 (+157.8%), from €66,223 to €170,711
- Other operating charges +€68,927
up €68,927 (+349.4%), from €19,727 to €88,653
- Taxes -€33,217
down €33,217 (-28.2%), from €117,896 to €84,678
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.
Result 2024
€315,305
Turnover
+€367,829
Other operating income
-€325,443
Goods and materials
-€104,488
Services and other goods
+€20,554
Depreciation
-€6,423
Other operating charges
-€68,927
Financial income
+€16,208
Financial charges
+€15,552
Taxes
+€33,217
Deferred taxes and other
-€1,125
Result 2025
€262,258
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.
From operations
+€4.2m
Investment
-€3.0m
Financing
-€1.3m
Cash 2024
€262,073
From operations (derived)
+€4.2m
Net result for the year
+€262,258
Depreciation
+€436,980
Receivables within one year
-€154,181
Smaller working-capital items
-€4,650
Provisions
-€9,788
Tax, wage and social debts
+€19,483
Other debts
+€3.7m
Investment (derived)
-€3.0m
Investment in fixed assets (net)
-€16,809
Current investments
-€3.0m
Financing
-€1.3m
Debts after one year
-€366,667
Contributions, distributions and other
-€921,319
Cash 2025
€204,061
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,362,084 | €10,042,148 | +€2.7m | +36.4% |
| Fixed assets | 21/28 | €7,050,056 | €6,629,885 | -€420,172 | -6.0% |
| Tangible fixed assets | 22/27 | €7,050,056 | €6,629,885 | -€420,172 | -6.0% |
| Land and buildings | 22 | €7,041,561 | €6,000,483 | -€1.0m | -14.8% |
| Plant, machinery and equipment | 23 | €8,496 | €629,402 | +€620,906 | +7308.6% |
| Current assets | 29/58 | €312,027 | €3,412,264 | +€3.1m | +993.6% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €25,649 | €179,830 | +€154,181 | +601.1% |
| Trade receivables | 40 | €20,136 | €179,830 | +€159,694 | +793.1% |
| Other amounts receivable | 41 | €5,513 | €0 | -€5,513 | -100.0% |
| Current investments | 50/53 | - | €3,000,000 | +€3.0m | |
| Other investments | 51/53 | - | €3,000,000 | +€3.0m | |
| Cash at bank and in hand | 54/58 | €262,073 | €204,061 | -€58,012 | -22.1% |
| Deferred charges and accrued income | 490/1 | €24,305 | €28,372 | +€4,067 | +16.7% |
| Total equity and liabilities | 10/49 | €7,362,084 | €10,042,148 | +€2.7m | +36.4% |
| Equity | 10/15 | €1,823,804 | €1,164,743 | -€659,061 | -36.1% |
| Contributions | 10/11 | €207,000 | €109,468 | -€97,532 | -47.1% |
| Capital | 10 | €207,000 | €109,468 | -€97,532 | -47.1% |
| Issued capital | 100 | €207,000 | €109,468 | -€97,532 | -47.1% |
| Reserves | 13 | €1,616,804 | €1,055,275 | -€561,529 | -34.7% |
| Non-distributable reserves | 130/1 | €20,700 | €10,947 | -€9,753 | -47.1% |
| Legal reserve | 130 | €20,700 | €10,947 | -€9,753 | -47.1% |
| Tax-exempt reserves | 132 | €214,448 | €67,998 | -€146,450 | -68.3% |
| Distributable reserves | 133 | €1,381,655 | €976,330 | -€405,325 | -29.3% |
| Provisions and deferred taxes | 16 | €71,483 | €61,695 | -€9,788 | -13.7% |
| Deferred taxes | 168 | €71,483 | €61,695 | -€9,788 | -13.7% |
| Amounts payable | 17/49 | €5,466,797 | €8,815,711 | +€3.3m | +61.3% |
| Amounts payable after more than one year | 17 | €4,125,000 | €3,758,334 | -€366,667 | -8.9% |
| Financial debts | 170/4 | €4,125,000 | €3,758,334 | -€366,667 | -8.9% |
| Credit institutions | 173 | €4,125,000 | €3,758,334 | -€366,667 | -8.9% |
| Amounts payable within one year | 42/48 | €1,341,797 | €5,057,377 | +€3.7m | +276.9% |
| Current portion of amounts payable after more than one year | 42 | €366,667 | €366,667 | = | 0.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €20,000 | €19,417 | -€583 | -2.9% |
| Suppliers | 440/4 | €20,000 | €19,417 | -€583 | -2.9% |
| Taxes, remuneration and social security | 45 | €36,691 | €56,173 | +€19,483 | +53.1% |
| Taxes | 450/3 | €36,691 | €56,173 | +€19,483 | +53.1% |
| Other amounts payable | 47/48 | €918,440 | €4,615,121 | +€3.7m | +402.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Operating income | 70/76A | €1,130,449 | €1,172,834 | +€42,386 | +3.7% |
| Turnover | 70 | €788,407 | €1,156,235 | +€367,829 | +46.7% |
| Other operating income | 74 | €342,042 | €16,599 | -€325,443 | -95.1% |
| Operating charges | 60/66A | €636,364 | €795,648 | +€159,284 | +25.0% |
| Goods for resale, raw materials and consumables | 60 | €66,223 | €170,711 | +€104,488 | +157.8% |
| Purchases | 600/8 | €66,223 | €170,711 | +€104,488 | +157.8% |
| Services and other goods | 61 | €119,857 | €99,303 | -€20,554 | -17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €430,558 | €436,980 | +€6,423 | +1.5% |
| Other operating charges | 640/8 | €19,727 | €88,653 | +€68,927 | +349.4% |
| Operating profit (loss) | 9901 | €494,084 | €377,186 | -€116,898 | -23.7% |
| Financial income | 75/76B | €231 | €16,439 | +€16,208 | +7004.3% |
| Recurring financial income | 75 | €231 | €16,439 | +€16,208 | +7004.3% |
| Income from current assets | 751 | €165 | €16,438 | +€16,273 | +9862.6% |
| Other financial income | 752/9 | €66 | €1 | -€65 | -98.5% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €69,332 | €53,780 | -€15,552 | -22.4% |
| Recurring financial charges | 65 | €69,332 | €53,780 | -€15,552 | -22.4% |
| Debt charges | 650 | €65,330 | €52,624 | -€12,706 | -19.4% |
| Other financial charges | 652/9 | €4,002 | €1,156 | -€2,846 | -71.1% |
| Profit (loss) for the period before taxes | 9903 | €424,984 | €339,845 | -€85,139 | -20.0% |
| Transfer from deferred taxes | 780 | €8,216 | €7,091 | -€1,125 | -13.7% |
| Income taxes | 67/77 | €117,896 | €84,678 | -€33,217 | -28.2% |
| Taxes | 670/3 | €117,896 | €84,678 | -€33,217 | -28.2% |
| Profit (loss) for the period | 9904 | €315,305 | €262,258 | -€53,047 | -16.8% |
| Transfer from tax-exempt reserves | 789 | €24,649 | €21,273 | -€3,376 | -13.7% |
| Profit (loss) for the period to be appropriated | 9905 | €339,954 | €283,531 | -€56,423 | -16.6% |
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 6 October 2026 via checked.be.