VERSYM: 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.
VERSYM
Largest movements
- Tangible fixed assets -€260,662
down €260,662 (-9.8%), from €2.7m to €2.4m
of which Leasing and similar rights: -€212,443
- Deferred charges and accrued income -€75,747
down €75,747 (-12.4%), from €608,565 to €532,818
- Receivables within one year -€72,839
down €72,839 (-93.8%), from €77,629 to €4,790
- Cash -€59,072
down €59,072 (-28.5%), from €207,157 to €148,085
mainly Debts after one year (-€221,954) and Accrued charges and deferred income (-€200,000)
- Debts after one year -€221,954
down €221,954 (-13.1%), from €1.7m to €1.5m
of which Financial debts: -€221,918
- Accrued charges and deferred income -€200,000
down €200,000 (-12.5%), from €1.6m to €1.4m
- Profit (loss) carried forward -€46,961
down €46,961 (-6.7%), from -€701,197 to -€748,158
- Write-downs +€47,921
up €47,921 (+189.2%), from €25,324 to €73,245
- Gross operating margin +€26,886
up €26,886 (+6.5%), from €414,988 to €441,873
- Financial charges -€10,679
down €10,679 (-17.6%), from €60,564 to €49,885
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 | €3,557,276 | €3,088,956 | -€468,320 | -13.2% |
| Fixed assets | 21/28 | €2,663,925 | €2,403,263 | -€260,662 | -9.8% |
| Tangible fixed assets | 22/27 | €2,663,925 | €2,403,263 | -€260,662 | -9.8% |
| Leasing and similar rights | 25 | €1,699,544 | €1,487,101 | -€212,443 | -12.5% |
| Other tangible fixed assets | 26 | €964,382 | €916,163 | -€48,219 | -5.0% |
| Current assets | 29/58 | €893,351 | €685,693 | -€207,658 | -23.2% |
| Amounts receivable within one year | 40/41 | €77,629 | €4,790 | -€72,839 | -93.8% |
| Other amounts receivable | 41 | €77,629 | €4,790 | -€72,839 | -93.8% |
| Cash at bank and in hand | 54/58 | €207,157 | €148,085 | -€59,072 | -28.5% |
| Deferred charges and accrued income | 490/1 | €608,565 | €532,818 | -€75,747 | -12.4% |
| Total equity and liabilities | 10/49 | €3,557,276 | €3,088,956 | -€468,320 | -13.2% |
| Equity | 10/15 | €36,121 | -€10,840 | -€46,961 | |
| Contributions | 10/11 | €722,000 | €722,000 | = | 0.0% |
| Capital | 10 | €722,000 | €722,000 | = | 0.0% |
| Issued capital | 100 | €722,000 | €722,000 | = | 0.0% |
| Reserves | 13 | €15,317 | €15,317 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,184 | €15,184 | = | 0.0% |
| Legal reserve | 130 | €15,184 | €15,184 | = | 0.0% |
| Tax-exempt reserves | 132 | €133 | €133 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€701,197 | -€748,158 | -€46,961 | -6.7% |
| Amounts payable | 17/49 | €3,521,155 | €3,099,796 | -€421,359 | -12.0% |
| Amounts payable after more than one year | 17 | €1,692,271 | €1,470,317 | -€221,954 | -13.1% |
| Financial debts | 170/4 | €1,689,932 | €1,468,014 | -€221,918 | -13.1% |
| Other amounts payable | 178/9 | €2,339 | €2,303 | -€36 | -1.5% |
| Amounts payable within one year | 42/48 | €227,514 | €228,109 | +€595 | +0.3% |
| Current portion of amounts payable after more than one year | 42 | €215,884 | €221,918 | +€6,034 | +2.8% |
| Trade debts | 44 | €715 | €637 | -€77 | -10.8% |
| Suppliers | 440/4 | €715 | €637 | -€77 | -10.8% |
| Other amounts payable | 47/48 | €10,915 | €5,553 | -€5,362 | -49.1% |
| Accrued charges and deferred income | 492/3 | €1,601,370 | €1,401,370 | -€200,000 | -12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €261,014 | €260,662 | -€352 | -0.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €25,324 | €73,245 | +€47,921 | +189.2% |
| Other operating charges | 640/8 | €29,098 | €29,881 | +€783 | +2.7% |
| Non-recurring operating charges | 66A | €75,747 | €75,747 | = | 0.0% |
| Gross operating margin | 9900 | €414,988 | €441,873 | +€26,886 | +6.5% |
| Operating profit (loss) | 9901 | €23,805 | €2,339 | -€21,467 | -90.2% |
| Financial income | 75/76B | €191 | €585 | +€394 | +206.5% |
| Recurring financial income | 75 | €191 | €585 | +€394 | +206.5% |
| Financial charges | 65/66B | €60,564 | €49,885 | -€10,679 | -17.6% |
| Recurring financial charges | 65 | €60,564 | €49,885 | -€10,679 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | -€36,568 | -€46,961 | -€10,393 | -28.4% |
| Profit (loss) for the period | 9904 | -€36,568 | -€46,961 | -€10,393 | -28.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€36,568 | -€46,961 | -€10,393 | -28.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.