VERTA: what changed
VERTA
Largest movements
- Receivables within one year +€47,381
up €47,381 (+68.4%), from €69,229 to €116,609
of which Trade receivables: +€33,628
- Tangible fixed assets -€28,123
down €28,123 (-9.2%), from €305,208 to €277,084
of which Leasing and similar rights: -€41,710
- Cash +€8,748
up €8,748 (+18.0%), from €48,702 to €57,450
mainly Depreciation (+€82,126) and Net result for the year (+€40,631)
- Reserves +€40,631
up €40,631 (+24.4%), from €166,217 to €206,848
- Other debts -€35,565
no longer reported in 2025 (was €35,565)
- Accrued charges and deferred income +€32,220
up €32,220 (+2,031%), from €1,586 to €33,806
- Debts after one year -€26,252
down €26,252 (-20.9%), from €125,431 to €99,180
- Trade debts +€20,443
up €20,443 (+49.6%), from €41,189 to €61,632
- Depreciation +€29,488
up €29,488 (+56.0%), from €52,639 to €82,126
- Gross operating margin +€23,279
up €23,279 (+13.1%), from €177,078 to €200,356
- Taxes +€12,990
up €12,990 (+86.3%), from €15,058 to €28,047
- Write-downs +€4,323
new in 2025: €4,323
- Staff costs -€3,702
down €3,702 (-9.7%), from €38,123 to €34,422
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €423,227 | €451,363 | +€28,136 | +6.6% |
| Fixed assets | 21/28 | €305,208 | €277,084 | -€28,123 | -9.2% |
| Tangible fixed assets | 22/27 | €305,208 | €277,084 | -€28,123 | -9.2% |
| Land and buildings | 22 | €3,620 | €2,576 | -€1,044 | -28.8% |
| Plant, machinery and equipment | 23 | €85,119 | €116,028 | +€30,908 | +36.3% |
| Furniture and vehicles | 24 | €47,633 | €31,356 | -€16,277 | -34.2% |
| Leasing and similar rights | 25 | €168,835 | €127,125 | -€41,710 | -24.7% |
| Current assets | 29/58 | €118,020 | €174,279 | +€56,259 | +47.7% |
| Amounts receivable within one year | 40/41 | €69,229 | €116,609 | +€47,381 | +68.4% |
| Trade receivables | 40 | €50,867 | €84,495 | +€33,628 | +66.1% |
| Other amounts receivable | 41 | €18,362 | €32,115 | +€13,753 | +74.9% |
| Cash at bank and in hand | 54/58 | €48,702 | €57,450 | +€8,748 | +18.0% |
| Deferred charges and accrued income | 490/1 | €89 | €220 | +€131 | +147% |
| Total equity and liabilities | 10/49 | €423,227 | €451,363 | +€28,136 | +6.6% |
| Equity | 10/15 | €184,817 | €225,448 | +€40,631 | +22.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €166,217 | €206,848 | +€40,631 | +24.4% |
| Distributable reserves | 133 | €166,217 | €206,848 | +€40,631 | +24.4% |
| Amounts payable | 17/49 | €238,410 | €225,915 | -€12,495 | -5.2% |
| Amounts payable after more than one year | 17 | €125,431 | €99,180 | -€26,252 | -20.9% |
| Financial debts | 170/4 | €125,431 | €99,180 | -€26,252 | -20.9% |
| Amounts payable within one year | 42/48 | €111,393 | €92,930 | -€18,463 | -16.6% |
| Current portion of amounts payable after more than one year | 42 | €24,942 | €26,252 | +€1,309 | +5.2% |
| Trade debts | 44 | €41,189 | €61,632 | +€20,443 | +49.6% |
| Suppliers | 440/4 | €41,189 | €61,632 | +€20,443 | +49.6% |
| Taxes, remuneration and social security | 45 | €9,697 | €5,046 | -€4,651 | -48.0% |
| Taxes | 450/3 | €5,876 | €5,046 | -€829 | -14.1% |
| Remuneration and social security | 454/9 | €3,821 | - | -€3,821 | |
| Other amounts payable | 47/48 | €35,565 | - | -€35,565 | |
| Accrued charges and deferred income | 492/3 | €1,586 | €33,806 | +€32,220 | +2,031% |
| Remuneration, social security and pensions | 62 | €38,123 | €34,422 | -€3,702 | -9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,639 | €82,126 | +€29,488 | +56.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,323 | +€4,323 | |
| Other operating charges | 640/8 | €2,683 | €2,499 | -€184 | -6.9% |
| Non-recurring operating charges | 66A | €240 | €1,138 | +€898 | +374% |
| Gross operating margin | 9900 | €177,078 | €200,356 | +€23,279 | +13.1% |
| Operating profit (loss) | 9901 | €83,392 | €75,848 | -€7,545 | -9.0% |
| Financial income | 75/76B | €577 | €829 | +€252 | +43.7% |
| Recurring financial income | 75 | €577 | €829 | +€252 | +43.7% |
| Financial charges | 65/66B | €11,547 | €7,999 | -€3,548 | -30.7% |
| Recurring financial charges | 65 | €11,547 | €7,999 | -€3,548 | -30.7% |
| Profit (loss) for the period before taxes | 9903 | €72,423 | €68,678 | -€3,745 | -5.2% |
| Income taxes | 67/77 | €15,058 | €28,047 | +€12,990 | +86.3% |
| Profit (loss) for the period | 9904 | €57,365 | €40,631 | -€16,734 | -29.2% |
| Profit (loss) for the period to be appropriated | 9905 | €57,365 | €40,631 | -€16,734 | -29.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.