VERSTEE: 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.
VERSTEE
Largest movements
- Stocks and contracts +€40,499
up €40,499 (+47.8%), from €84,813 to €125,312
- Cash +€9,362
up €9,362 (+52.8%), from €17,725 to €27,087
mainly Net result for the year (+€30,753) and Receivables within one year (+€7,661)
- Receivables within one year -€7,661
down €7,661 (-44.2%), from €17,338 to €9,677
of which Trade receivables: -€6,871
- Tangible fixed assets -€2,886
down €2,886 (-25.8%), from €11,195 to €8,308
of which Furniture and vehicles: -€1,516
- Profit (loss) carried forward +€30,753
up €30,753 (+35.6%), from -€86,388 to -€55,635
- Trade debts +€6,674
up €6,674 (+74.4%), from €8,970 to €15,643
- Gross operating margin +€32,556
up €32,556 (+54.9%), from €59,290 to €91,846
- Staff costs +€2,592
up €2,592 (+5.0%), from €51,944 to €54,536
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €132,639 | €171,952 | +€39,314 | +29.6% |
| Fixed assets | 21/28 | €12,762 | €9,876 | -€2,886 | -22.6% |
| Tangible fixed assets | 22/27 | €11,195 | €8,308 | -€2,886 | -25.8% |
| Plant, machinery and equipment | 23 | €4,198 | €3,888 | -€310 | -7.4% |
| Furniture and vehicles | 24 | €3,219 | €1,703 | -€1,516 | -47.1% |
| Other tangible fixed assets | 26 | €3,778 | €2,718 | -€1,061 | -28.1% |
| Financial fixed assets | 28 | €1,567 | €1,567 | = | 0.0% |
| Current assets | 29/58 | €119,876 | €162,076 | +€42,200 | +35.2% |
| Stocks and contracts in progress | 3 | €84,813 | €125,312 | +€40,499 | +47.8% |
| Stocks | 30/36 | €84,813 | €125,312 | +€40,499 | +47.8% |
| Amounts receivable within one year | 40/41 | €17,338 | €9,677 | -€7,661 | -44.2% |
| Trade receivables | 40 | €16,548 | €9,677 | -€6,871 | -41.5% |
| Other amounts receivable | 41 | €790 | - | -€790 | |
| Cash at bank and in hand | 54/58 | €17,725 | €27,087 | +€9,362 | +52.8% |
| Total equity and liabilities | 10/49 | €132,639 | €171,952 | +€39,314 | +29.6% |
| Equity | 10/15 | -€26,388 | €4,365 | +€30,753 | |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€86,388 | -€55,635 | +€30,753 | +35.6% |
| Amounts payable | 17/49 | €159,026 | €167,587 | +€8,561 | +5.4% |
| Amounts payable within one year | 42/48 | €159,026 | €167,587 | +€8,561 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €696 | - | -€696 | |
| Trade debts | 44 | €8,970 | €15,643 | +€6,674 | +74.4% |
| Suppliers | 440/4 | €8,970 | €15,643 | +€6,674 | +74.4% |
| Taxes, remuneration and social security | 45 | €19,096 | €20,666 | +€1,570 | +8.2% |
| Taxes | 450/3 | €8,230 | €10,414 | +€2,184 | +26.5% |
| Remuneration and social security | 454/9 | €10,866 | €10,252 | -€614 | -5.6% |
| Other amounts payable | 47/48 | €130,265 | €131,278 | +€1,013 | +0.8% |
| Remuneration, social security and pensions | 62 | €51,944 | €54,536 | +€2,592 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,274 | €3,886 | +€612 | +18.7% |
| Other operating charges | 640/8 | €1,091 | €1,131 | +€41 | +3.7% |
| Gross operating margin | 9900 | €59,290 | €91,846 | +€32,556 | +54.9% |
| Operating profit (loss) | 9901 | €2,982 | €32,293 | +€29,311 | +982.9% |
| Financial income | 75/76B | €52 | €190 | +€139 | +268.4% |
| Recurring financial income | 75 | €52 | €190 | +€139 | +268.4% |
| Financial charges | 65/66B | €2,087 | €1,730 | -€357 | -17.1% |
| Recurring financial charges | 65 | €2,087 | €1,730 | -€357 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €946 | €30,753 | +€29,806 | +3149.4% |
| Income taxes | 67/77 | €287 | - | -€287 | |
| Profit (loss) for the period | 9904 | €659 | €30,753 | +€30,093 | +4563.7% |
| Profit (loss) for the period to be appropriated | 9905 | €659 | €30,753 | +€30,093 | +4563.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.