VERSUC: 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
VERSUC
NACE 01.410, Raising of dairy cattle
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€23,592
2024 · -€102,472+€126,064
Equity
-€254,645
2024 · -€278,237+€23,592
Cash
€21,030
2024 · €13,311+€7,719
Balance sheet total
€2.7m
2024 · €2.8m-€66,363
Largest movements
Assets
- Receivables within one year -€101,257
down €101,257 (-14.8%), from €686,095 to €584,837
of which Trade receivables: -€107,126
Equity and liabilities
- Other debts -€404,455
down €404,455 (-20.9%), from €1.9m to €1.5m
- Trade debts +€302,899
up €302,899 (+26.2%), from €1.2m to €1.5m
Income statement
- Turnover +€192,914
new in 2025: €192,914
- Purchases and services +€137,768
new in 2025: €137,768
- Gross operating margin +€90,397
up €90,397, from -€35,252 to €55,146
- Financial charges -€38,498
down €38,498 (-99.4%), from €38,713 to €215
- Taxes +€20,585
up €20,585 (+222.3%), from €9,260 to €29,844
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
-€102,472
Gross operating margin
+€90,397
Depreciation
-€1,397
Write-downs
+€18,894
Other operating charges
+€623
Financial income
-€367
Financial charges
+€38,498
Taxes
-€20,585
Result 2025
€23,592
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
+€26,291
Investment
-€18,572
Financing
€0
Cash 2024
€13,311
From operations (derived)
+€26,291
Net result for the year
+€23,592
Depreciation
+€1,397
Stocks and contracts
-€6,000
Receivables within one year
+€101,257
Deferred charges and accrued income
-€4,000
Trade debts
+€302,899
Tax, wage and social debts
+€11,600
Other debts
-€404,455
Investment (derived)
-€18,572
Investment in fixed assets (net)
-€18,572
Cash 2025
€21,030
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,810,372 | €2,744,009 | -€66,363 | -2.4% |
| Fixed assets | 21/28 | €2,110,967 | €2,128,141 | +€17,175 | +0.8% |
| Tangible fixed assets | 22/27 | - | €17,175 | +€17,175 | |
| Land and buildings | 22 | - | €2,004 | +€2,004 | |
| Plant, machinery and equipment | 23 | - | €4,725 | +€4,725 | |
| Other tangible fixed assets | 26 | - | €10,446 | +€10,446 | |
| Financial fixed assets | 28 | €2,110,967 | €2,110,967 | = | 0.0% |
| Current assets | 29/58 | €699,406 | €615,867 | -€83,538 | -11.9% |
| Stocks and contracts in progress | 3 | - | €6,000 | +€6,000 | |
| Stocks | 30/36 | - | €6,000 | +€6,000 | |
| Amounts receivable within one year | 40/41 | €686,095 | €584,837 | -€101,257 | -14.8% |
| Trade receivables | 40 | €147,408 | €40,282 | -€107,126 | -72.7% |
| Other amounts receivable | 41 | €538,687 | €544,556 | +€5,869 | +1.1% |
| Cash at bank and in hand | 54/58 | €13,311 | €21,030 | +€7,719 | +58.0% |
| Deferred charges and accrued income | 490/1 | - | €4,000 | +€4,000 | |
| Total equity and liabilities | 10/49 | €2,810,372 | €2,744,009 | -€66,363 | -2.4% |
| Equity | 10/15 | -€278,237 | -€254,645 | +€23,592 | +8.5% |
| Contributions | 10/11 | €646,000 | €646,000 | = | 0.0% |
| Capital | 10 | €646,000 | €646,000 | = | 0.0% |
| Issued capital | 100 | €646,000 | €646,000 | = | 0.0% |
| Reserves | 13 | €379,955 | €379,955 | = | 0.0% |
| Non-distributable reserves | 130/1 | €49,600 | €49,600 | = | 0.0% |
| Legal reserve | 130 | €49,600 | €49,600 | = | 0.0% |
| Distributable reserves | 133 | €330,355 | €330,355 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,304,191 | -€1,280,599 | +€23,592 | +1.8% |
| Amounts payable | 17/49 | €3,088,609 | €2,998,653 | -€89,956 | -2.9% |
| Amounts payable within one year | 42/48 | €3,088,609 | €2,998,653 | -€89,956 | -2.9% |
| Trade debts | 44 | €1,156,476 | €1,459,375 | +€302,899 | +26.2% |
| Suppliers | 440/4 | €1,156,476 | €1,459,375 | +€302,899 | +26.2% |
| Taxes, remuneration and social security | 45 | - | €11,600 | +€11,600 | |
| Taxes | 450/3 | - | €11,600 | +€11,600 | |
| Other amounts payable | 47/48 | €1,932,133 | €1,527,678 | -€404,455 | -20.9% |
| Turnover | 70 | - | €192,914 | +€192,914 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €137,768 | +€137,768 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,397 | +€1,397 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €18,894 | - | -€18,894 | |
| Other operating charges | 640/8 | €751 | €128 | -€623 | -83.0% |
| Gross operating margin | 9900 | -€35,252 | €55,146 | +€90,397 | |
| Operating profit (loss) | 9901 | -€54,897 | €53,621 | +€108,517 | |
| Financial income | 75/76B | €398 | €31 | -€367 | -92.2% |
| Recurring financial income | 75 | €398 | €31 | -€367 | -92.2% |
| Financial charges | 65/66B | €38,713 | €215 | -€38,498 | -99.4% |
| Recurring financial charges | 65 | €38,713 | €215 | -€38,498 | -99.4% |
| Profit (loss) for the period before taxes | 9903 | -€93,212 | €53,437 | +€146,649 | |
| Income taxes | 67/77 | €9,260 | €29,844 | +€20,585 | +222.3% |
| Profit (loss) for the period | 9904 | -€102,472 | €23,592 | +€126,064 | |
| Profit (loss) for the period to be appropriated | 9905 | -€102,472 | €23,592 | +€126,064 |
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.