VERT EXPLOSIF: 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 EXPLOSIF
Largest movements
- Tangible fixed assets +€15,880
up €15,880 (+50.6%), from €31,370 to €47,250
of which Plant, machinery and equipment: +€16,190
- Cash +€6,093
up €6,093 (+15.7%), from €38,832 to €44,925
mainly Depreciation (+€19,998) and Net result for the year (+€15,267)
- Deferred charges and accrued income +€3,753
new in 2025: €3,753
- Receivables within one year -€2,454
down €2,454 (-8.3%), from €29,544 to €27,090
of which Other amounts receivable: -€3,761
- Reserves +€15,000
up €15,000 (+25.9%), from €58,000 to €73,000
- Debts after one year +€12,588
up €12,588 (+124.3%), from €10,130 to €22,718
- Trade debts -€6,767
down €6,767 (-79.9%), from €8,473 to €1,706
- Current portion of long-term debt +€4,172
up €4,172 (+36.5%), from €11,442 to €15,614
- Tax, wage and social debts -€1,988
down €1,988 (-28.0%), from €7,108 to €5,120
of which Remuneration and social security: -€1,511
- Turnover +€18,582
up €18,582 (+9.3%), from €199,432 to €218,014
- Purchases and services +€13,160
up €13,160 (+9.0%), from €146,246 to €159,406
- Gross operating margin +€5,422
up €5,422 (+10.2%), from €53,186 to €58,608
- Depreciation -€3,035
down €3,035 (-13.2%), from €23,033 to €19,998
- Taxes +€2,961
up €2,961 (+106.5%), from €2,779 to €5,740
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 | €100,266 | €123,538 | +€23,272 | +23.2% |
| Fixed assets | 21/28 | €31,890 | €47,770 | +€15,880 | +49.8% |
| Tangible fixed assets | 22/27 | €31,370 | €47,250 | +€15,880 | +50.6% |
| Plant, machinery and equipment | 23 | €29,120 | €45,310 | +€16,190 | +55.6% |
| Furniture and vehicles | 24 | €2,250 | €1,940 | -€310 | -13.8% |
| Financial fixed assets | 28 | €520 | €520 | = | 0.0% |
| Current assets | 29/58 | €68,376 | €75,768 | +€7,392 | +10.8% |
| Amounts receivable within one year | 40/41 | €29,544 | €27,090 | -€2,454 | -8.3% |
| Trade receivables | 40 | €22,523 | €23,830 | +€1,307 | +5.8% |
| Other amounts receivable | 41 | €7,021 | €3,260 | -€3,761 | -53.6% |
| Cash at bank and in hand | 54/58 | €38,832 | €44,925 | +€6,093 | +15.7% |
| Deferred charges and accrued income | 490/1 | - | €3,753 | +€3,753 | |
| Total equity and liabilities | 10/49 | €100,266 | €123,538 | +€23,272 | +23.2% |
| Equity | 10/15 | €63,110 | €78,377 | +€15,267 | +24.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €58,000 | €73,000 | +€15,000 | +25.9% |
| Distributable reserves | 133 | €58,000 | €73,000 | +€15,000 | +25.9% |
| Profit (loss) carried forward | 14 | €3,110 | €3,377 | +€267 | +8.6% |
| Amounts payable | 17/49 | €37,156 | €45,161 | +€8,005 | +21.5% |
| Amounts payable after more than one year | 17 | €10,130 | €22,718 | +€12,588 | +124.3% |
| Financial debts | 170/4 | €10,130 | €22,718 | +€12,588 | +124.3% |
| Amounts payable within one year | 42/48 | €27,026 | €22,443 | -€4,583 | -17.0% |
| Current portion of amounts payable after more than one year | 42 | €11,442 | €15,614 | +€4,172 | +36.5% |
| Trade debts | 44 | €8,473 | €1,706 | -€6,767 | -79.9% |
| Suppliers | 440/4 | €8,473 | €1,706 | -€6,767 | -79.9% |
| Taxes, remuneration and social security | 45 | €7,108 | €5,120 | -€1,988 | -28.0% |
| Taxes | 450/3 | €4,427 | €3,950 | -€477 | -10.8% |
| Remuneration and social security | 454/9 | €2,681 | €1,170 | -€1,511 | -56.4% |
| Other amounts payable | 47/48 | €3 | €3 | = | 0.0% |
| Turnover | 70 | €199,432 | €218,014 | +€18,582 | +9.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €146,246 | €159,406 | +€13,160 | +9.0% |
| Remuneration, social security and pensions | 62 | €16,791 | €14,380 | -€2,411 | -14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,033 | €19,998 | -€3,035 | -13.2% |
| Other operating charges | 640/8 | €951 | €1,127 | +€176 | +18.5% |
| Non-recurring operating charges | 66A | €1,898 | - | -€1,898 | |
| Gross operating margin | 9900 | €53,186 | €58,608 | +€5,422 | +10.2% |
| Operating profit (loss) | 9901 | €10,513 | €23,103 | +€12,590 | +119.8% |
| Financial charges | 65/66B | €1,350 | €2,096 | +€746 | +55.3% |
| Recurring financial charges | 65 | €1,350 | €2,096 | +€746 | +55.3% |
| Profit (loss) for the period before taxes | 9903 | €9,163 | €21,007 | +€11,844 | +129.3% |
| Income taxes | 67/77 | €2,779 | €5,740 | +€2,961 | +106.5% |
| Profit (loss) for the period | 9904 | €6,384 | €15,267 | +€8,883 | +139.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,384 | €15,267 | +€8,883 | +139.1% |
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 6 October 2026 via checked.be.