VERSTOCK: 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.
VERSTOCK
Largest movements
- Cash -€17,298
down €17,298 (-17.5%), from €98,779 to €81,481
mainly Other debts (-€89,630) and Tax, wage and social debts (-€13,358)
- Tangible fixed assets -€11,131
down €11,131 (-15.1%), from €73,643 to €62,512
of which Furniture and vehicles: -€9,385
- Other debts -€89,630
down €89,630 (-45.3%), from €197,847 to €108,217
- Reserves +€78,172
up €78,172 (+28.2%), from €277,604 to €355,776
of which Distributable reserves: +€83,706
- Tax, wage and social debts -€13,358
down €13,358 (-31.5%), from €42,363 to €29,005
- Gross operating margin +€13,569
up €13,569 (+11.9%), from €114,053 to €127,622
- Taxes +€4,360
up €4,360 (+14.2%), from €30,643 to €35,003
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 | €627,323 | €596,415 | -€30,908 | -4.9% |
| Fixed assets | 21/28 | €496,643 | €485,512 | -€11,131 | -2.2% |
| Tangible fixed assets | 22/27 | €73,643 | €62,512 | -€11,131 | -15.1% |
| Land and buildings | 22 | €39,916 | €39,916 | = | 0.0% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €20,820 | €11,435 | -€9,385 | -45.1% |
| Other tangible fixed assets | 26 | €12,908 | €11,161 | -€1,747 | -13.5% |
| Financial fixed assets | 28 | €423,000 | €423,000 | = | 0.0% |
| Current assets | 29/58 | €130,679 | €110,903 | -€19,776 | -15.1% |
| Amounts receivable within one year | 40/41 | €14,520 | €14,520 | = | 0.0% |
| Trade receivables | 40 | €14,520 | €14,520 | = | 0.0% |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €98,779 | €81,481 | -€17,298 | -17.5% |
| Deferred charges and accrued income | 490/1 | €17,381 | €14,902 | -€2,479 | -14.3% |
| Total equity and liabilities | 10/49 | €627,323 | €596,415 | -€30,908 | -4.9% |
| Equity | 10/15 | €376,612 | €454,784 | +€78,172 | +20.8% |
| Contributions | 10/11 | €91,061 | €91,061 | = | 0.0% |
| Capital | 10 | €91,061 | €91,061 | = | 0.0% |
| Issued capital | 100 | €91,061 | €91,061 | = | 0.0% |
| Reserves | 13 | €277,604 | €355,776 | +€78,172 | +28.2% |
| Non-distributable reserves | 130/1 | €7,723 | €7,723 | = | 0.0% |
| Legal reserve | 130 | €7,723 | €7,723 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,662 | €5,127 | -€5,535 | -51.9% |
| Distributable reserves | 133 | €259,219 | €342,926 | +€83,706 | +32.3% |
| Profit (loss) carried forward | 14 | €7,947 | €7,947 | = | 0.0% |
| Provisions and deferred taxes | 16 | €2,665 | €1,282 | -€1,384 | -51.9% |
| Deferred taxes | 168 | €2,665 | €1,282 | -€1,384 | -51.9% |
| Amounts payable | 17/49 | €248,045 | €140,349 | -€107,696 | -43.4% |
| Amounts payable within one year | 42/48 | €248,045 | €140,349 | -€107,696 | -43.4% |
| Trade debts | 44 | €7,835 | €3,128 | -€4,707 | -60.1% |
| Suppliers | 440/4 | €7,835 | €3,128 | -€4,707 | -60.1% |
| Taxes, remuneration and social security | 45 | €42,363 | €29,005 | -€13,358 | -31.5% |
| Taxes | 450/3 | €42,363 | €29,005 | -€13,358 | -31.5% |
| Other amounts payable | 47/48 | €197,847 | €108,217 | -€89,630 | -45.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,131 | €11,131 | = | 0.0% |
| Other operating charges | 640/8 | €3,174 | €2,827 | -€348 | -10.9% |
| Gross operating margin | 9900 | €114,053 | €127,622 | +€13,569 | +11.9% |
| Operating profit (loss) | 9901 | €99,747 | €113,664 | +€13,917 | +14.0% |
| Financial charges | 65/66B | €1,305 | €1,038 | -€267 | -20.5% |
| Recurring financial charges | 65 | €1,305 | €1,038 | -€267 | -20.5% |
| Profit (loss) for the period before taxes | 9903 | €98,443 | €112,626 | +€14,184 | +14.4% |
| Transfer from deferred taxes | 780 | €1,384 | €1,384 | = | 0.0% |
| Income taxes | 67/77 | €30,643 | €35,003 | +€4,360 | +14.2% |
| Profit (loss) for the period | 9904 | €69,184 | €79,007 | +€9,823 | +14.2% |
| Transfer from tax-exempt reserves | 789 | €5,535 | €5,535 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €74,718 | €84,542 | +€9,823 | +13.1% |
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 5 October 2026 via checked.be.