VERT D'OR: 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'OR
Largest movements
- Cash -€6,760
down €6,760 (-14.1%), from €47,824 to €41,064
mainly Contributions, distributions and other (-€5,000) and Receivables within one year (-€4,135)
- Receivables within one year +€4,135
up €4,135 (+14.3%), from €28,942 to €33,077
- Stocks and contracts +€1,925
up €1,925 (+9.7%), from €19,871 to €21,796
- Tangible fixed assets +€1,235
up €1,235 (+679.0%), from €182 to €1,417
- Trade debts +€9,025
up €9,025 (+25.9%), from €34,828 to €43,853
- Profit (loss) carried forward -€5,741
down €5,741 (-42.8%), from €13,427 to €7,687
- Tax, wage and social debts -€2,441
down €2,441 (-8.7%), from €28,110 to €25,669
of which Remuneration and social security: -€3,036
- Gross operating margin -€11,778
down €11,778 (-17.1%), from €68,908 to €57,131
- Staff costs +€6,946
up €6,946 (+13.7%), from €50,737 to €57,683
- Taxes -€6,935
down €6,935 (-72.6%), from €9,551 to €2,616
- Write-downs -€843
down €843 (-14.6%), from -€5,781 to -€6,624
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 | €97,127 | €97,669 | +€541 | +0.6% |
| Fixed assets | 21/28 | €182 | €1,417 | +€1,235 | +679.0% |
| Tangible fixed assets | 22/27 | €182 | €1,417 | +€1,235 | +679.0% |
| Furniture and vehicles | 24 | €182 | €1,417 | +€1,235 | +679.0% |
| Current assets | 29/58 | €96,945 | €96,251 | -€694 | -0.7% |
| Stocks and contracts in progress | 3 | €19,871 | €21,796 | +€1,925 | +9.7% |
| Stocks | 30/36 | €19,871 | €21,796 | +€1,925 | +9.7% |
| Amounts receivable within one year | 40/41 | €28,942 | €33,077 | +€4,135 | +14.3% |
| Other amounts receivable | 41 | €28,942 | €33,077 | +€4,135 | +14.3% |
| Cash at bank and in hand | 54/58 | €47,824 | €41,064 | -€6,760 | -14.1% |
| Deferred charges and accrued income | 490/1 | €308 | €314 | +€6 | +2.0% |
| Total equity and liabilities | 10/49 | €97,127 | €97,669 | +€541 | +0.6% |
| Equity | 10/15 | €33,887 | €28,147 | -€5,741 | -16.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,427 | €7,687 | -€5,741 | -42.8% |
| Amounts payable | 17/49 | €63,240 | €69,522 | +€6,282 | +9.9% |
| Amounts payable within one year | 42/48 | €63,240 | €69,522 | +€6,282 | +9.9% |
| Trade debts | 44 | €34,828 | €43,853 | +€9,025 | +25.9% |
| Suppliers | 440/4 | €34,828 | €43,853 | +€9,025 | +25.9% |
| Taxes, remuneration and social security | 45 | €28,110 | €25,669 | -€2,441 | -8.7% |
| Taxes | 450/3 | €17,655 | €18,250 | +€595 | +3.4% |
| Remuneration and social security | 454/9 | €10,455 | €7,419 | -€3,036 | -29.0% |
| Other amounts payable | 47/48 | €302 | - | -€302 | |
| Remuneration, social security and pensions | 62 | €50,737 | €57,683 | +€6,946 | +13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €511 | €194 | -€317 | -62.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,781 | -€6,624 | -€843 | -14.6% |
| Other operating charges | 640/8 | €2,584 | €2,287 | -€297 | -11.5% |
| Gross operating margin | 9900 | €68,908 | €57,131 | -€11,778 | -17.1% |
| Operating profit (loss) | 9901 | €20,857 | €3,590 | -€17,267 | -82.8% |
| Financial income | 75/76B | €511 | €617 | +€106 | +20.8% |
| Recurring financial income | 75 | €511 | €617 | +€106 | +20.8% |
| Financial charges | 65/66B | €2,139 | €2,332 | +€193 | +9.0% |
| Recurring financial charges | 65 | €2,139 | €2,332 | +€193 | +9.0% |
| Profit (loss) for the period before taxes | 9903 | €19,229 | €1,875 | -€17,354 | -90.3% |
| Income taxes | 67/77 | €9,551 | €2,616 | -€6,935 | -72.6% |
| Profit (loss) for the period | 9904 | €9,678 | -€741 | -€10,419 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,678 | -€741 | -€10,419 |
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.