VERT'TIGE: 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'TIGE
Largest movements
- Cash -€40,014
down €40,014 (-86.2%), from €46,446 to €6,432
mainly Receivables within one year (-€38,016) and Investment in fixed assets (net) (-€27,182)
- Receivables within one year +€38,016
up €38,016 (+294%), from €12,929 to €50,946
of which Trade receivables: +€40,346
- Stocks and contracts +€5,549
up €5,549 (+45.5%), from €12,202 to €17,751
of which Stocks: +€5,549
- Tangible fixed assets -€4,771
down €4,771 (-5.2%), from €91,798 to €87,027
of which Furniture and vehicles: -€17,046
- Profit (loss) carried forward +€17,889
up €17,889 (+20.0%), from -€89,442 to -€71,554
- Debts after one year -€16,302
down €16,302 (-17.8%), from €91,351 to €75,049
- Tax, wage and social debts -€3,854
down €3,854 (-33.8%), from €11,413 to €7,559
of which Taxes: -€3,961
- Trade debts +€3,000
up €3,000 (+17.8%), from €16,862 to €19,863
- Current portion of long-term debt -€2,144
down €2,144 (-11.6%), from €18,445 to €16,302
- Gross operating margin +€38,939
up €38,939 (+31.1%), from €125,041 to €163,981
- Staff costs +€12,211
up €12,211 (+15.7%), from €77,676 to €89,888
- Depreciation +€4,595
up €4,595 (+16.7%), from €27,482 to €32,077
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 | €173,609 | €173,234 | -€376 | -0.2% |
| Fixed assets | 21/28 | €92,094 | €87,199 | -€4,895 | -5.3% |
| Tangible fixed assets | 22/27 | €91,798 | €87,027 | -€4,771 | -5.2% |
| Land and buildings | 22 | €14,730 | €14,730 | = | 0.0% |
| Plant, machinery and equipment | 23 | €12,458 | €33,003 | +€20,545 | +165% |
| Furniture and vehicles | 24 | €44,816 | €27,769 | -€17,046 | -38.0% |
| Leasing and similar rights | 25 | €19,795 | €11,525 | -€8,270 | -41.8% |
| Financial fixed assets | 28 | €296 | €172 | -€124 | -41.9% |
| Current assets | 29/58 | €81,515 | €86,035 | +€4,520 | +5.5% |
| Stocks and contracts in progress | 3 | €12,202 | €17,751 | +€5,549 | +45.5% |
| Stocks | 30/36 | €12,202 | €17,751 | +€5,549 | +45.5% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €12,929 | €50,946 | +€38,016 | +294% |
| Trade receivables | 40 | €10,600 | €50,946 | +€40,346 | +381% |
| Other amounts receivable | 41 | €2,330 | €0 | -€2,330 | -100% |
| Cash at bank and in hand | 54/58 | €46,446 | €6,432 | -€40,014 | -86.2% |
| Deferred charges and accrued income | 490/1 | €9,938 | €10,906 | +€968 | +9.7% |
| Total equity and liabilities | 10/49 | €173,609 | €173,234 | -€376 | -0.2% |
| Equity | 10/15 | €9,582 | €27,470 | +€17,889 | +187% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €80,432 | €80,432 | = | 0.0% |
| Distributable reserves | 133 | €80,432 | €80,432 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€89,442 | -€71,554 | +€17,889 | +20.0% |
| Amounts payable | 17/49 | €164,028 | €145,763 | -€18,264 | -11.1% |
| Amounts payable after more than one year | 17 | €91,351 | €75,049 | -€16,302 | -17.8% |
| Financial debts | 170/4 | €91,351 | €75,049 | -€16,302 | -17.8% |
| Amounts payable within one year | 42/48 | €72,677 | €70,714 | -€1,963 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €18,445 | €16,302 | -€2,144 | -11.6% |
| Trade debts | 44 | €16,862 | €19,863 | +€3,000 | +17.8% |
| Suppliers | 440/4 | €16,862 | €19,863 | +€3,000 | +17.8% |
| Taxes, remuneration and social security | 45 | €11,413 | €7,559 | -€3,854 | -33.8% |
| Taxes | 450/3 | €8,178 | €4,217 | -€3,961 | -48.4% |
| Remuneration and social security | 454/9 | €3,235 | €3,342 | +€107 | +3.3% |
| Other amounts payable | 47/48 | €25,956 | €26,991 | +€1,035 | +4.0% |
| Remuneration, social security and pensions | 62 | €77,676 | €89,888 | +€12,211 | +15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,482 | €32,077 | +€4,595 | +16.7% |
| Other operating charges | 640/8 | €4,569 | €4,946 | +€377 | +8.3% |
| Gross operating margin | 9900 | €125,041 | €163,981 | +€38,939 | +31.1% |
| Operating profit (loss) | 9901 | €15,314 | €37,070 | +€21,756 | +142% |
| Financial income | 75/76B | €2 | €0 | -€2 | -100% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -100% |
| Financial charges | 65/66B | €2,716 | €2,030 | -€685 | -25.2% |
| Recurring financial charges | 65 | €2,716 | €2,030 | -€685 | -25.2% |
| Profit (loss) for the period before taxes | 9903 | €12,601 | €35,040 | +€22,440 | +178% |
| Income taxes | 67/77 | €3,464 | €2,151 | -€1,312 | -37.9% |
| Profit (loss) for the period | 9904 | €9,137 | €32,889 | +€23,752 | +260% |
| Profit (loss) for the period to be appropriated | 9905 | €9,137 | €32,889 | +€23,752 | +260% |
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 24 October 2026 via checked.be.