VERT et BOIS: 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.
VERT et BOIS
Largest movements
- Tangible fixed assets +€206,241
up €206,241 (+75.8%), from €272,262 to €478,503
of which Land and buildings: +€249,817
- Cash +€195,551
up €195,551 (+41.8%), from €467,911 to €663,463
mainly Debts after one year (+€192,657) and Net result for the year (+€180,186)
- Receivables within one year +€97,737
up €97,737 (+775%), from €12,613 to €110,350
of which Trade receivables: +€71,176
- Intangible fixed assets -€20,357
down €20,357 (-14.2%), from €143,212 to €122,855
- Debts after one year +€192,657
up €192,657 (+77.0%), from €250,342 to €442,999
- Other debts +€117,647
up €117,647, from €0 to €117,647
- Advances received +€67,623
up €67,623 (+210%), from €32,234 to €99,857
- Trade debts +€64,673
up €64,673 (+144%), from €44,819 to €109,492
- Profit (loss) carried forward +€62,539
up €62,539 (+13.5%), from €464,063 to €526,602
- Gross operating margin +€55,612
up €55,612 (+15.1%), from €367,867 to €423,479
- Depreciation +€15,911
up €15,911 (+22.2%), from €71,597 to €87,508
- Staff costs +€12,176
up €12,176 (+15.6%), from €78,267 to €90,443
- Financial charges +€8,494
up €8,494 (+70.0%), from €12,133 to €20,627
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.
Derived cash bridge
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 | €947,267 | €1,424,367 | +€477,100 | +50.4% |
| Fixed assets | 21/28 | €415,885 | €601,769 | +€185,884 | +44.7% |
| Intangible fixed assets | 21 | €143,212 | €122,855 | -€20,357 | -14.2% |
| Tangible fixed assets | 22/27 | €272,262 | €478,503 | +€206,241 | +75.8% |
| Land and buildings | 22 | €94,811 | €344,628 | +€249,817 | +263% |
| Plant, machinery and equipment | 23 | €26,051 | €13,699 | -€12,352 | -47.4% |
| Furniture and vehicles | 24 | €12,277 | €8,763 | -€3,514 | -28.6% |
| Leasing and similar rights | 25 | €139,123 | €108,923 | -€30,200 | -21.7% |
| Other tangible fixed assets | 26 | - | €2,489 | +€2,489 | |
| Financial fixed assets | 28 | €411 | €411 | = | 0.0% |
| Current assets | 29/58 | €531,383 | €822,598 | +€291,216 | +54.8% |
| Stocks and contracts in progress | 3 | €32,798 | €26,790 | -€6,008 | -18.3% |
| Stocks | 30/36 | €32,798 | €26,790 | -€6,008 | -18.3% |
| Amounts receivable within one year | 40/41 | €12,613 | €110,350 | +€97,737 | +775% |
| Trade receivables | 40 | €10,982 | €82,158 | +€71,176 | +648% |
| Other amounts receivable | 41 | €1,631 | €28,191 | +€26,560 | +1,628% |
| Cash at bank and in hand | 54/58 | €467,911 | €663,463 | +€195,551 | +41.8% |
| Deferred charges and accrued income | 490/1 | €18,060 | €21,996 | +€3,935 | +21.8% |
| Total equity and liabilities | 10/49 | €947,267 | €1,424,367 | +€477,100 | +50.4% |
| Equity | 10/15 | €484,063 | €546,602 | +€62,539 | +12.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €464,063 | €526,602 | +€62,539 | +13.5% |
| Amounts payable | 17/49 | €463,204 | €877,765 | +€414,561 | +89.5% |
| Amounts payable after more than one year | 17 | €250,342 | €442,999 | +€192,657 | +77.0% |
| Financial debts | 170/4 | €250,342 | €442,999 | +€192,657 | +77.0% |
| Amounts payable within one year | 42/48 | €212,589 | €428,490 | +€215,901 | +102% |
| Current portion of amounts payable after more than one year | 42 | €80,464 | €55,782 | -€24,682 | -30.7% |
| Financial debts | 43 | - | €21,199 | +€21,199 | |
| Credit institutions | 430/8 | - | €21,199 | +€21,199 | |
| Trade debts | 44 | €44,819 | €109,492 | +€64,673 | +144% |
| Suppliers | 440/4 | €44,819 | €109,492 | +€64,673 | +144% |
| Advances received on contracts in progress | 46 | €32,234 | €99,857 | +€67,623 | +210% |
| Taxes, remuneration and social security | 45 | €55,072 | €24,513 | -€30,560 | -55.5% |
| Taxes | 450/3 | €49,800 | €18,931 | -€30,868 | -62.0% |
| Remuneration and social security | 454/9 | €5,273 | €5,581 | +€309 | +5.9% |
| Other amounts payable | 47/48 | €0 | €117,647 | +€117,647 | |
| Accrued charges and deferred income | 492/3 | €273 | €6,276 | +€6,004 | +2,202% |
| Non-recurring operating income | 76A | - | €1,143 | +€1,143 | |
| Remuneration, social security and pensions | 62 | €78,267 | €90,443 | +€12,176 | +15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,597 | €87,508 | +€15,911 | +22.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,210 | -€1,210 | -€2,420 | |
| Other operating charges | 640/8 | €1,834 | €2,575 | +€741 | +40.4% |
| Non-recurring operating charges | 66A | - | €1,210 | +€1,210 | |
| Gross operating margin | 9900 | €367,867 | €423,479 | +€55,612 | +15.1% |
| Operating profit (loss) | 9901 | €214,959 | €242,953 | +€27,994 | +13.0% |
| Financial income | 75/76B | €4,202 | €4,930 | +€728 | +17.3% |
| Recurring financial income | 75 | €4,202 | €4,930 | +€728 | +17.3% |
| Financial charges | 65/66B | €12,133 | €20,627 | +€8,494 | +70.0% |
| Recurring financial charges | 65 | €12,133 | €20,627 | +€8,494 | +70.0% |
| Profit (loss) for the period before taxes | 9903 | €207,028 | €227,256 | +€20,228 | +9.8% |
| Income taxes | 67/77 | €45,469 | €47,070 | +€1,602 | +3.5% |
| Profit (loss) for the period | 9904 | €161,559 | €180,186 | +€18,626 | +11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €161,559 | €180,186 | +€18,626 | +11.5% |
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 19 October 2026 via checked.be.