VERSYCK: 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.
VERSYCK
Largest movements
- Stocks and contracts -€1.2m
down €1.2m (-58.4%), from €2.1m to €871,732
- Tangible fixed assets +€850,862
up €850,862 (+668.4%), from €127,299 to €978,162
- Cash -€554,991
down €554,991 (-96.3%), from €576,380 to €21,389
mainly Investment in fixed assets (net) (-€910,303) and Short-term financial debts (-€550,000)
- Receivables within one year +€92,622
up €92,622 (+425.3%), from €21,778 to €114,400
of which Other amounts receivable: +€94,257
- Short-term financial debts -€550,000
down €550,000 (-55.6%), from €989,000 to €439,000
- Other debts -€248,021
down €248,021 (-31.5%), from €788,022 to €540,002
- Profit (loss) carried forward -€97,223
down €97,223 (-31.6%), from €307,376 to €210,153
- Trade debts +€71,233
up €71,233 (+2975.4%), from €2,394 to €73,627
- Depreciation +€36,569
up €36,569 (+162.1%), from €22,566 to €59,135
- Gross operating margin -€8,757
down €8,757 (-63.7%), from -€13,743 to -€22,500
- Financial charges -€7,190
down €7,190 (-27.2%), from €26,423 to €19,233
of which Non-recurring financial charges: -€26,423
- Other operating charges +€6,247
up €6,247 (+91.4%), from €6,839 to €13,086
- Financial income +€884
new in 2025: €884
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 | €2,820,126 | €1,987,498 | -€832,628 | -29.5% |
| Fixed assets | 21/28 | €128,808 | €979,976 | +€851,168 | +660.8% |
| Tangible fixed assets | 22/27 | €127,299 | €978,162 | +€850,862 | +668.4% |
| Land and buildings | 22 | €127,299 | €978,162 | +€850,862 | +668.4% |
| Financial fixed assets | 28 | €1,509 | €1,815 | +€306 | +20.3% |
| Current assets | 29/58 | €2,691,318 | €1,007,522 | -€1.7m | -62.6% |
| Stocks and contracts in progress | 3 | €2,093,160 | €871,732 | -€1.2m | -58.4% |
| Stocks | 30/36 | €2,093,160 | €871,732 | -€1.2m | -58.4% |
| Amounts receivable within one year | 40/41 | €21,778 | €114,400 | +€92,622 | +425.3% |
| Trade receivables | 40 | €2,872 | €1,237 | -€1,635 | -56.9% |
| Other amounts receivable | 41 | €18,905 | €113,163 | +€94,257 | +498.6% |
| Cash at bank and in hand | 54/58 | €576,380 | €21,389 | -€554,991 | -96.3% |
| Total equity and liabilities | 10/49 | €2,820,126 | €1,987,498 | -€832,628 | -29.5% |
| Equity | 10/15 | €883,717 | €787,980 | -€95,738 | -10.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €514,341 | €515,827 | +€1,486 | +0.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €417,058 | €418,544 | +€1,486 | +0.4% |
| Distributable reserves | 133 | €91,083 | €91,083 | = | 0.0% |
| Profit (loss) carried forward | 14 | €307,376 | €210,153 | -€97,223 | -31.6% |
| Provisions and deferred taxes | 16 | €156,847 | €139,515 | -€17,332 | -11.1% |
| Deferred taxes | 168 | €156,847 | €139,515 | -€17,332 | -11.1% |
| Amounts payable | 17/49 | €1,779,562 | €1,060,004 | -€719,558 | -40.4% |
| Amounts payable within one year | 42/48 | €1,779,562 | €1,059,960 | -€719,601 | -40.4% |
| Current portion of amounts payable after more than one year | 42 | - | €0 | = | |
| Financial debts | 43 | €989,000 | €439,000 | -€550,000 | -55.6% |
| Credit institutions | 430/8 | €989,000 | €439,000 | -€550,000 | -55.6% |
| Trade debts | 44 | €2,394 | €73,627 | +€71,233 | +2975.4% |
| Suppliers | 440/4 | €2,394 | €73,627 | +€71,233 | +2975.4% |
| Taxes, remuneration and social security | 45 | €145 | €7,332 | +€7,187 | +4956.6% |
| Taxes | 450/3 | - | €7,187 | +€7,187 | |
| Remuneration and social security | 454/9 | €145 | €145 | = | 0.0% |
| Other amounts payable | 47/48 | €788,022 | €540,002 | -€248,021 | -31.5% |
| Accrued charges and deferred income | 492/3 | €0 | €44 | +€44 | +29046.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,566 | €59,135 | +€36,569 | +162.1% |
| Other operating charges | 640/8 | €6,839 | €13,086 | +€6,247 | +91.4% |
| Gross operating margin | 9900 | -€13,743 | -€22,500 | -€8,757 | -63.7% |
| Operating profit (loss) | 9901 | -€43,148 | -€94,721 | -€51,573 | -119.5% |
| Financial income | 75/76B | - | €884 | +€884 | |
| Recurring financial income | 75 | - | €884 | +€884 | |
| Financial charges | 65/66B | €26,423 | €19,233 | -€7,190 | -27.2% |
| Recurring financial charges | 65 | €26,423 | €19,233 | -€7,190 | -27.2% |
| Non-recurring financial charges | 66B | €26,423 | - | -€26,423 | |
| Profit (loss) for the period before taxes | 9903 | -€69,571 | -€113,070 | -€43,499 | -62.5% |
| Transfer from deferred taxes | 780 | €3,899 | €3,962 | +€62 | +1.6% |
| Profit (loss) for the period | 9904 | -€65,672 | -€109,108 | -€43,436 | -66.1% |
| Transfer from tax-exempt reserves | 789 | €11,698 | €11,885 | +€187 | +1.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€53,974 | -€97,223 | -€43,249 | -80.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.