VERSTELT-WETS: 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.
VERSTELT-WETS
Largest movements
- Financial fixed assets +€84,198
up €84,198 (+17.5%), from €482,349 to €566,547
- Receivables after one year -€64,455
no longer reported in 2025 (was €64,455)
- Receivables within one year -€30,069
down €30,069 (-86.3%), from €34,848 to €4,779
of which Trade receivables: -€30,737
- Tangible fixed assets -€7,573
down €7,573 (-29.7%), from €25,520 to €17,947
- Profit (loss) carried forward -€33,932
down €33,932 (-100%), from €33,932 to €0
- Other debts +€23,859
up €23,859 (+24.8%), from €96,316 to €120,175
- Reserves +€8,080
up €8,080 (+2.8%), from €292,724 to €300,805
of which Distributable reserves: +€25,288
- Trade debts -€8,059
down €8,059 (-93.8%), from €8,592 to €533
- Gross operating margin -€41,121
down €41,121, from €23,680 to -€17,441
- Taxes -€4,132
down €4,132 (-96.7%), from €4,274 to €141
- Other operating charges -€364
down €364 (-35.8%), from €1,016 to €652
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 | €609,885 | €595,120 | -€14,765 | -2.4% |
| Fixed assets | 21/28 | €507,868 | €584,494 | +€76,626 | +15.1% |
| Tangible fixed assets | 22/27 | €25,520 | €17,947 | -€7,573 | -29.7% |
| Furniture and vehicles | 24 | €25,520 | €17,947 | -€7,573 | -29.7% |
| Financial fixed assets | 28 | €482,349 | €566,547 | +€84,198 | +17.5% |
| Current assets | 29/58 | €102,017 | €10,627 | -€91,390 | -89.6% |
| Amounts receivable after more than one year | 29 | €64,455 | - | -€64,455 | |
| Trade receivables | 290 | €64,455 | - | -€64,455 | |
| Amounts receivable within one year | 40/41 | €34,848 | €4,779 | -€30,069 | -86.3% |
| Trade receivables | 40 | €34,848 | €4,111 | -€30,737 | -88.2% |
| Other amounts receivable | 41 | - | €668 | +€668 | |
| Cash at bank and in hand | 54/58 | €1,462 | €4,694 | +€3,232 | +221% |
| Deferred charges and accrued income | 490/1 | €1,252 | €1,154 | -€98 | -7.8% |
| Total equity and liabilities | 10/49 | €609,885 | €595,120 | -€14,765 | -2.4% |
| Equity | 10/15 | €345,256 | €319,405 | -€25,851 | -7.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €292,724 | €300,805 | +€8,080 | +2.8% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Tax-exempt reserves | 132 | €15,347 | €0 | -€15,347 | -100% |
| Distributable reserves | 133 | €275,517 | €300,805 | +€25,288 | +9.2% |
| Profit (loss) carried forward | 14 | €33,932 | €0 | -€33,932 | -100% |
| Amounts payable | 17/49 | €264,629 | €275,716 | +€11,087 | +4.2% |
| Amounts payable after more than one year | 17 | €150,000 | €150,000 | = | 0.0% |
| Financial debts | 170/4 | €150,000 | €150,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €114,629 | €125,716 | +€11,087 | +9.7% |
| Trade debts | 44 | €8,592 | €533 | -€8,059 | -93.8% |
| Suppliers | 440/4 | €8,592 | €533 | -€8,059 | -93.8% |
| Taxes, remuneration and social security | 45 | €9,721 | €5,008 | -€4,714 | -48.5% |
| Taxes | 450/3 | €9,721 | €5,008 | -€4,714 | -48.5% |
| Other amounts payable | 47/48 | €96,316 | €120,175 | +€23,859 | +24.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,573 | €7,573 | -€0 | 0.0% |
| Other operating charges | 640/8 | €1,016 | €652 | -€364 | -35.8% |
| Gross operating margin | 9900 | €23,680 | -€17,441 | -€41,121 | |
| Operating profit (loss) | 9901 | €15,091 | -€25,666 | -€40,757 | |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €74 | €44 | -€31 | -41.3% |
| Recurring financial charges | 65 | €74 | €44 | -€31 | -41.3% |
| Profit (loss) for the period before taxes | 9903 | €15,017 | -€25,710 | -€40,727 | |
| Income taxes | 67/77 | €4,274 | €141 | -€4,132 | -96.7% |
| Profit (loss) for the period | 9904 | €10,743 | -€25,851 | -€36,595 | |
| Transfer from tax-exempt reserves | 789 | - | €15,347 | +€15,347 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,743 | -€10,504 | -€21,247 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.