VERT-VIPEC: 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-VIPEC
Largest movements
- Current investments -€82,173
down €82,173 (-30.5%), from €269,349 to €187,177
- Cash -€37,025
down €37,025 (-20.7%), from €179,228 to €142,203
mainly Other debts (-€102,672) and Contributions, distributions and other (-€18,375)
- Receivables within one year +€13,146
up €13,146 (+333.5%), from €3,942 to €17,087
of which Trade receivables: +€10,899
- Tangible fixed assets -€10,591
down €10,591 (-11.8%), from €89,755 to €79,164
- Other debts -€102,672
down €102,672 (-25.5%), from €402,884 to €300,212
- Reserves -€18,375
down €18,375 (-24.2%), from €75,942 to €57,567
of which Distributable reserves: -€18,375
- Gross operating margin +€17,733
up €17,733 (+64.8%), from -€27,361 to -€9,629
- Financial charges +€3,571
up €3,571, from -€3,455 to €116
- Financial income -€1,281
down €1,281 (-5.0%), from €25,464 to €24,184
- Depreciation -€1,222
down €1,222 (-9.5%), from €12,920 to €11,698
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 | €546,997 | €430,157 | -€116,840 | -21.4% |
| Fixed assets | 21/28 | €92,145 | €81,164 | -€10,981 | -11.9% |
| Tangible fixed assets | 22/27 | €89,755 | €79,164 | -€10,591 | -11.8% |
| Land and buildings | 22 | €79,759 | €74,888 | -€4,870 | -6.1% |
| Plant, machinery and equipment | 23 | €1,961 | €980 | -€980 | -50.0% |
| Furniture and vehicles | 24 | €8,035 | €3,295 | -€4,740 | -59.0% |
| Financial fixed assets | 28 | €2,390 | €2,000 | -€390 | -16.3% |
| Current assets | 29/58 | €454,852 | €348,993 | -€105,859 | -23.3% |
| Amounts receivable within one year | 40/41 | €3,942 | €17,087 | +€13,146 | +333.5% |
| Trade receivables | 40 | €0 | €10,899 | +€10,899 | |
| Other amounts receivable | 41 | €3,942 | €6,188 | +€2,247 | +57.0% |
| Current investments | 50/53 | €269,349 | €187,177 | -€82,173 | -30.5% |
| Cash at bank and in hand | 54/58 | €179,228 | €142,203 | -€37,025 | -20.7% |
| Deferred charges and accrued income | 490/1 | €2,333 | €2,526 | +€193 | +8.3% |
| Total equity and liabilities | 10/49 | €546,997 | €430,157 | -€116,840 | -21.4% |
| Equity | 10/15 | €143,025 | €126,153 | -€16,872 | -11.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €75,942 | €57,567 | -€18,375 | -24.2% |
| Non-distributable reserves | 130/1 | €11,860 | €11,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11,860 | €11,860 | = | 0.0% |
| Distributable reserves | 133 | €64,082 | €45,707 | -€18,375 | -28.7% |
| Profit (loss) carried forward | 14 | €48,483 | €49,986 | +€1,503 | +3.1% |
| Amounts payable | 17/49 | €403,971 | €304,003 | -€99,968 | -24.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €403,971 | €304,003 | -€99,968 | -24.7% |
| Trade debts | 44 | €1,087 | €1,454 | +€367 | +33.7% |
| Suppliers | 440/4 | €1,087 | €1,454 | +€367 | +33.7% |
| Taxes, remuneration and social security | 45 | €0 | €2,337 | +€2,337 | |
| Taxes | 450/3 | €0 | €2,337 | +€2,337 | |
| Other amounts payable | 47/48 | €402,884 | €300,212 | -€102,672 | -25.5% |
| Remuneration, social security and pensions | 62 | -€114 | €0 | +€114 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,920 | €11,698 | -€1,222 | -9.5% |
| Other operating charges | 640/8 | €869 | €896 | +€27 | +3.1% |
| Gross operating margin | 9900 | -€27,361 | -€9,629 | +€17,733 | +64.8% |
| Operating profit (loss) | 9901 | -€41,037 | -€22,223 | +€18,814 | +45.8% |
| Financial income | 75/76B | €25,464 | €24,184 | -€1,281 | -5.0% |
| Recurring financial income | 75 | €25,464 | €24,184 | -€1,281 | -5.0% |
| Financial charges | 65/66B | -€3,455 | €116 | +€3,571 | |
| Recurring financial charges | 65 | -€3,455 | €116 | +€3,571 | |
| Profit (loss) for the period before taxes | 9903 | -€12,117 | €1,844 | +€13,962 | |
| Income taxes | 67/77 | €338 | €341 | +€3 | +1.0% |
| Profit (loss) for the period | 9904 | -€12,455 | €1,503 | +€13,958 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,455 | €1,503 | +€13,958 |
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 30 September 2026 via checked.be.