Vert d'O: 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 d'O
Largest movements
- Tangible fixed assets -€36,175
down €36,175 (-19.1%), from €188,967 to €152,792
of which Other tangible fixed assets: -€22,750
- Cash -€10,000
down €10,000 (-26.5%), from €37,673 to €27,673
mainly Net result for the year (-€69,343) and Receivables within one year (-€5,655)
- Receivables within one year +€5,655
up €5,655 (+139.4%), from €4,057 to €9,712
of which Trade receivables: +€3,411
- Deferred charges and accrued income -€3,951
down €3,951 (-100.0%), from €3,951 to €0
- Profit (loss) carried forward -€69,343
down €69,343 (-41.4%), from -€167,488 to -€236,832
- Other debts +€20,518
up €20,518 (+6.3%), from €325,917 to €346,436
- Tax, wage and social debts +€2,536
up €2,536 (+4.5%), from €56,684 to €59,220
of which Taxes: +€4,462
- Financial charges +€23,346
up €23,346 (+7145.2%), from €327 to €23,673
- Depreciation -€12,520
down €12,520 (-25.7%), from €48,695 to €36,175
- Staff costs +€4,954
up €4,954 (+2.8%), from €176,943 to €181,897
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 | €240,189 | €195,453 | -€44,737 | -18.6% |
| Fixed assets | 21/28 | €188,967 | €152,792 | -€36,175 | -19.1% |
| Tangible fixed assets | 22/27 | €188,967 | €152,792 | -€36,175 | -19.1% |
| Plant, machinery and equipment | 23 | €13,107 | €0 | -€13,107 | -100.0% |
| Furniture and vehicles | 24 | €900 | €582 | -€318 | -35.3% |
| Other tangible fixed assets | 26 | €174,960 | €152,210 | -€22,750 | -13.0% |
| Current assets | 29/58 | €51,222 | €42,661 | -€8,562 | -16.7% |
| Stocks and contracts in progress | 3 | €5,541 | €5,275 | -€266 | -4.8% |
| Stocks | 30/36 | €5,541 | €5,275 | -€266 | -4.8% |
| Amounts receivable within one year | 40/41 | €4,057 | €9,712 | +€5,655 | +139.4% |
| Trade receivables | 40 | €3,955 | €7,366 | +€3,411 | +86.2% |
| Other amounts receivable | 41 | €102 | €2,346 | +€2,245 | +2207.1% |
| Cash at bank and in hand | 54/58 | €37,673 | €27,673 | -€10,000 | -26.5% |
| Deferred charges and accrued income | 490/1 | €3,951 | €0 | -€3,951 | -100.0% |
| Total equity and liabilities | 10/49 | €240,189 | €195,453 | -€44,737 | -18.6% |
| Equity | 10/15 | -€157,488 | -€226,832 | -€69,343 | -44.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€167,488 | -€236,832 | -€69,343 | -41.4% |
| Amounts payable | 17/49 | €397,678 | €422,284 | +€24,607 | +6.2% |
| Amounts payable within one year | 42/48 | €397,678 | €422,284 | +€24,607 | +6.2% |
| Financial debts | 43 | - | €8 | +€8 | |
| Credit institutions | 430/8 | - | €8 | +€8 | |
| Trade debts | 44 | €15,077 | €16,621 | +€1,544 | +10.2% |
| Suppliers | 440/4 | €15,077 | €16,621 | +€1,544 | +10.2% |
| Taxes, remuneration and social security | 45 | €56,684 | €59,220 | +€2,536 | +4.5% |
| Taxes | 450/3 | €19,604 | €24,066 | +€4,462 | +22.8% |
| Remuneration and social security | 454/9 | €37,080 | €35,154 | -€1,926 | -5.2% |
| Other amounts payable | 47/48 | €325,917 | €346,436 | +€20,518 | +6.3% |
| Remuneration, social security and pensions | 62 | €176,943 | €181,897 | +€4,954 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,695 | €36,175 | -€12,520 | -25.7% |
| Other operating charges | 640/8 | €2,528 | €3,890 | +€1,362 | +53.9% |
| Gross operating margin | 9900 | €174,551 | €176,221 | +€1,669 | +1.0% |
| Operating profit (loss) | 9901 | -€53,615 | -€45,741 | +€7,874 | +14.7% |
| Financial income | 75/76B | €7 | €71 | +€63 | +863.2% |
| Recurring financial income | 75 | €7 | €71 | +€63 | +863.2% |
| Financial charges | 65/66B | €327 | €23,673 | +€23,346 | +7145.2% |
| Recurring financial charges | 65 | €327 | €23,673 | +€23,346 | +7145.2% |
| Profit (loss) for the period before taxes | 9903 | -€53,934 | -€69,343 | -€15,409 | -28.6% |
| Profit (loss) for the period | 9904 | -€53,934 | -€69,343 | -€15,409 | -28.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€53,934 | -€69,343 | -€15,409 | -28.6% |
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.