Vert: 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.
Vert
Largest movements
- Cash -€143,829
down €143,829 (-47.8%), from €300,748 to €156,919
mainly Contributions, distributions and other (-€650,897) and Other debts (-€231,458)
- Receivables within one year -€83,650
down €83,650 (-20.8%), from €401,217 to €317,567
of which Other amounts receivable: -€79,863
- Current investments -€50,000
down €50,000 (-6.7%), from €750,000 to €700,000
- Tangible fixed assets -€24,131
down €24,131 (-3.9%), from €620,560 to €596,429
of which Land and buildings: -€46,723
- Other debts -€231,458
down €231,458 (-28.7%), from €805,706 to €574,249
- Reserves -€41,162
down €41,162 (-3.5%), from €1.2m to €1.1m
- Tax, wage and social debts -€24,950
down €24,950 (-54.3%), from €45,939 to €20,989
of which Taxes: -€24,950
- Financial charges +€49,608
up €49,608 (+22862.9%), from €217 to €49,825
- Gross operating margin -€40,605
down €40,605 (-4.3%), from €940,807 to €900,202
- Financial income +€21,434
up €21,434 (+222.4%), from €9,640 to €31,073
- Taxes -€18,517
down €18,517 (-8.6%), from €216,281 to €197,764
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 | €2,078,729 | €1,779,863 | -€298,866 | -14.4% |
| Fixed assets | 21/28 | €620,560 | €596,429 | -€24,131 | -3.9% |
| Tangible fixed assets | 22/27 | €620,560 | €596,429 | -€24,131 | -3.9% |
| Land and buildings | 22 | €572,295 | €525,572 | -€46,723 | -8.2% |
| Plant, machinery and equipment | 23 | €7,267 | €33,309 | +€26,042 | +358.4% |
| Furniture and vehicles | 24 | €40,720 | €37,549 | -€3,171 | -7.8% |
| Other tangible fixed assets | 26 | €279 | €0 | -€279 | -100.0% |
| Current assets | 29/58 | €1,458,169 | €1,183,434 | -€274,736 | -18.8% |
| Amounts receivable within one year | 40/41 | €401,217 | €317,567 | -€83,650 | -20.8% |
| Trade receivables | 40 | €3,787 | €0 | -€3,787 | -100.0% |
| Other amounts receivable | 41 | €397,430 | €317,567 | -€79,863 | -20.1% |
| Current investments | 50/53 | €750,000 | €700,000 | -€50,000 | -6.7% |
| Cash at bank and in hand | 54/58 | €300,748 | €156,919 | -€143,829 | -47.8% |
| Deferred charges and accrued income | 490/1 | €6,205 | €8,948 | +€2,743 | +44.2% |
| Total equity and liabilities | 10/49 | €2,078,729 | €1,779,863 | -€298,866 | -14.4% |
| Equity | 10/15 | €1,173,153 | €1,131,991 | -€41,162 | -3.5% |
| Reserves | 13 | €1,173,153 | €1,131,991 | -€41,162 | -3.5% |
| Distributable reserves | 133 | €1,173,153 | €1,131,991 | -€41,162 | -3.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €905,576 | €647,872 | -€257,705 | -28.5% |
| Amounts payable within one year | 42/48 | €851,645 | €597,501 | -€254,144 | -29.8% |
| Trade debts | 44 | €0 | €2,263 | +€2,263 | |
| Suppliers | 440/4 | €0 | €2,263 | +€2,263 | |
| Taxes, remuneration and social security | 45 | €45,939 | €20,989 | -€24,950 | -54.3% |
| Taxes | 450/3 | €42,589 | €17,639 | -€24,950 | -58.6% |
| Remuneration and social security | 454/9 | €3,350 | €3,350 | = | 0.0% |
| Other amounts payable | 47/48 | €805,706 | €574,249 | -€231,458 | -28.7% |
| Accrued charges and deferred income | 492/3 | €53,931 | €50,371 | -€3,560 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,701 | €72,549 | -€9,152 | -11.2% |
| Other operating charges | 640/8 | €1,351 | €1,402 | +€51 | +3.8% |
| Gross operating margin | 9900 | €940,807 | €900,202 | -€40,605 | -4.3% |
| Operating profit (loss) | 9901 | €857,755 | €826,251 | -€31,504 | -3.7% |
| Financial income | 75/76B | €9,640 | €31,073 | +€21,434 | +222.4% |
| Recurring financial income | 75 | €9,640 | €31,073 | +€21,434 | +222.4% |
| Financial charges | 65/66B | €217 | €49,825 | +€49,608 | +22862.9% |
| Recurring financial charges | 65 | €217 | €49,825 | +€49,608 | +22862.9% |
| Profit (loss) for the period before taxes | 9903 | €867,178 | €807,499 | -€59,679 | -6.9% |
| Income taxes | 67/77 | €216,281 | €197,764 | -€18,517 | -8.6% |
| Profit (loss) for the period | 9904 | €650,897 | €609,736 | -€41,162 | -6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €650,897 | €609,736 | -€41,162 | -6.3% |
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 4 October 2026 via checked.be.