Vertagro: 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.
What changed
Vertagro
NACE 46.215, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€8,664
2024 · €16,578-€7,913
Equity
€873,634
2024 · €864,970+€8,664
Cash
€1.1m
2024 · €477,498+€594,413
Balance sheet total
€9.4m
2024 · €9.4m+€5,110
Largest movements
Assets
- Stocks and contracts -€1.1m
down €1.1m (-28.3%), from €4.0m to €2.9m
- Receivables within one year +€596,299
up €596,299 (+12.7%), from €4.7m to €5.3m
of which Trade receivables: +€495,719
- Cash +€594,413
up €594,413 (+124.5%), from €477,498 to €1.1m
mainly Stocks and contracts (+€1.1m) and Trade debts (+€201,897)
Equity and liabilities
- Trade debts +€201,897
up €201,897 (+19.6%), from €1.0m to €1.2m
- Tax, wage and social debts -€144,579
down €144,579 (-79.5%), from €181,938 to €37,359
of which Taxes: -€142,305
Income statement
- Turnover -€10.1m
down €10.1m (-14.3%), from €70.7m to €60.5m
- Goods and materials -€10.1m
down €10.1m (-14.4%), from €70.1m to €60.0m
of which Purchases: -€12.9m
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.
Result 2024
€16,578
Turnover
-€10.1m
Other operating income
-€48,581
Goods and materials
+€10.1m
Services and other goods
-€20,921
Staff costs
+€80,611
Depreciation
-€1,267
Other operating charges
+€10
Other operating items
+€7,000
Financial income
+€1,233
Financial charges
-€9,118
Taxes
+€4,210
Result 2025
€8,664
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.
From operations
+€681,584
Investment
-€39,493
Financing
-€47,677
Cash 2024
€477,498
From operations (derived)
+€681,584
Net result for the year
+€8,664
Depreciation
+€84,740
Stocks and contracts
+€1.1m
Receivables within one year
-€596,299
Deferred charges and accrued income
+€7,910
Trade debts
+€201,897
Tax, wage and social debts
-€144,579
Other debts
-€23,668
Accrued charges and deferred income
+€10,472
Investment (derived)
-€39,493
Investment in fixed assets (net)
-€39,493
Financing
-€47,677
Debts after one year
-€29,710
Current portion of long-term debt
-€5,771
Short-term financial debts
-€12,196
Cash 2025
€1.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,428,202 | €9,433,312 | +€5,110 | +0.1% |
| Fixed assets | 21/28 | €232,125 | €186,878 | -€45,247 | -19.5% |
| Intangible fixed assets | 21 | €38,005 | €31,810 | -€6,195 | -16.3% |
| Tangible fixed assets | 22/27 | €190,694 | €151,642 | -€39,052 | -20.5% |
| Plant, machinery and equipment | 23 | €19,522 | €42,543 | +€23,021 | +117.9% |
| Furniture and vehicles | 24 | €171,173 | €109,100 | -€62,073 | -36.3% |
| Financial fixed assets | 28 | €3,425 | €3,425 | = | 0.0% |
| Other financial fixed assets | 284/8 | €3,425 | €3,425 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €3,425 | €3,425 | = | 0.0% |
| Current assets | 29/58 | €9,196,077 | €9,246,435 | +€50,357 | +0.5% |
| Stocks and contracts in progress | 3 | €4,007,688 | €2,875,243 | -€1.1m | -28.3% |
| Stocks | 30/36 | €4,007,688 | €2,875,243 | -€1.1m | -28.3% |
| Goods purchased for resale | 34 | €4,007,688 | €2,875,243 | -€1.1m | -28.3% |
| Amounts receivable within one year | 40/41 | €4,698,801 | €5,295,100 | +€596,299 | +12.7% |
| Trade receivables | 40 | €4,577,528 | €5,073,247 | +€495,719 | +10.8% |
| Other amounts receivable | 41 | €121,273 | €221,854 | +€100,581 | +82.9% |
| Cash at bank and in hand | 54/58 | €477,498 | €1,071,912 | +€594,413 | +124.5% |
| Deferred charges and accrued income | 490/1 | €12,090 | €4,180 | -€7,910 | -65.4% |
| Total equity and liabilities | 10/49 | €9,428,202 | €9,433,312 | +€5,110 | +0.1% |
| Equity | 10/15 | €864,970 | €873,634 | +€8,664 | +1.0% |
| Contributions | 10/11 | €4,800 | €4,800 | = | 0.0% |
| Reserves | 13 | €860,170 | €868,834 | +€8,664 | +1.0% |
| Distributable reserves | 133 | €860,170 | €868,834 | +€8,664 | +1.0% |
| Amounts payable | 17/49 | €8,563,232 | €8,559,678 | -€3,554 | 0.0% |
| Amounts payable after more than one year | 17 | €6,561,516 | €6,531,806 | -€29,710 | -0.5% |
| Financial debts | 170/4 | €3,398,184 | €3,368,474 | -€29,710 | -0.9% |
| Subordinated loans | 170 | €3,306,668 | €3,306,668 | = | 0.0% |
| Credit institutions | 173 | €91,516 | €61,806 | -€29,710 | -32.5% |
| Other amounts payable | 178/9 | €3,163,332 | €3,163,332 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,989,495 | €2,005,178 | +€15,684 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €35,481 | €29,710 | -€5,771 | -16.3% |
| Financial debts | 43 | €582,654 | €570,458 | -€12,196 | -2.1% |
| Credit institutions | 430/8 | €582,654 | €570,458 | -€12,196 | -2.1% |
| Trade debts | 44 | €1,031,418 | €1,233,315 | +€201,897 | +19.6% |
| Suppliers | 440/4 | €1,031,418 | €1,233,315 | +€201,897 | +19.6% |
| Taxes, remuneration and social security | 45 | €181,938 | €37,359 | -€144,579 | -79.5% |
| Taxes | 450/3 | €148,113 | €5,808 | -€142,305 | -96.1% |
| Remuneration and social security | 454/9 | €33,825 | €31,551 | -€2,273 | -6.7% |
| Other amounts payable | 47/48 | €158,004 | €134,336 | -€23,668 | -15.0% |
| Accrued charges and deferred income | 492/3 | €12,221 | €22,693 | +€10,472 | +85.7% |
| Operating income | 70/76A | €70,722,780 | €60,537,639 | -€10.2m | -14.4% |
| Turnover | 70 | €70,663,875 | €60,527,316 | -€10.1m | -14.3% |
| Other operating income | 74 | €58,905 | €10,324 | -€48,581 | -82.5% |
| Operating charges | 60/66A | €70,660,175 | €60,479,274 | -€10.2m | -14.4% |
| Goods for resale, raw materials and consumables | 60 | €70,107,826 | €59,992,358 | -€10.1m | -14.4% |
| Purchases | 600/8 | €71,785,567 | €58,859,913 | -€12.9m | -18.0% |
| Change in stocks: decrease (increase) | 609 | -€1,677,740 | €1,132,445 | +€2.8m | |
| Services and other goods | 61 | €247,368 | €268,289 | +€20,921 | +8.5% |
| Remuneration, social security and pensions | 62 | €210,162 | €129,551 | -€80,611 | -38.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,473 | €84,740 | +€1,267 | +1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €4,345 | €4,335 | -€10 | -0.2% |
| Non-recurring operating charges | 66A | €7,000 | €0 | -€7,000 | -100.0% |
| Operating profit (loss) | 9901 | €62,605 | €58,366 | -€4,239 | -6.8% |
| Financial income | 75/76B | €0 | €1,233 | +€1,233 | |
| Recurring financial income | 75 | €0 | €1,233 | +€1,233 | |
| Income from current assets | 751 | €0 | - | = | |
| Other financial income | 752/9 | €0 | €1,233 | +€1,233 | |
| Financial charges | 65/66B | €33,500 | €42,618 | +€9,118 | +27.2% |
| Recurring financial charges | 65 | €33,500 | €42,618 | +€9,118 | +27.2% |
| Debt charges | 650 | €27,825 | €33,621 | +€5,796 | +20.8% |
| Other financial charges | 652/9 | €5,675 | €8,996 | +€3,322 | +58.5% |
| Profit (loss) for the period before taxes | 9903 | €29,105 | €16,981 | -€12,124 | -41.7% |
| Income taxes | 67/77 | €12,527 | €8,317 | -€4,210 | -33.6% |
| Taxes | 670/3 | €12,527 | €8,317 | -€4,210 | -33.6% |
| Profit (loss) for the period | 9904 | €16,578 | €8,664 | -€7,913 | -47.7% |
| Profit (loss) for the period to be appropriated | 9905 | €16,578 | €8,664 | -€7,913 | -47.7% |
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 4 October 2026 via checked.be.