VERTALON: what changed
What changed
VERTALON
NACE 70.100, Activities of head offices
filed annual accounts (NBB)
Net result for the year
€6,260
2024 · €17,572-€11,312
Equity
€78,432
2024 · €72,172+€6,260
Cash
€549
2024 · €33+€515
Balance sheet total
€210,406
2024 · €189,081+€21,325
Largest movements
Assets
- Receivables within one year +€25,276
up €25,276 (+61.5%), from €41,119 to €66,395
of which Other amounts receivable: +€26,399
- Tangible fixed assets -€4,340
down €4,340 (-2.9%), from €147,460 to €143,120
Equity and liabilities
- Trade debts +€15,692
up €15,692 (+1,189%), from €1,320 to €17,012
- Other debts +€13,547
up €13,547 (+35.2%), from €38,529 to €52,076
- Debts after one year -€11,184
down €11,184 (-21.0%), from €53,177 to €41,993
- Profit (loss) carried forward +€6,260
up €6,260 (+11.7%), from €53,282 to €59,542
- Tax, wage and social debts -€5,156
down €5,156 (-39.1%), from €13,170 to €8,014
Income statement
- Gross operating margin -€15,234
down €15,234 (-45.5%), from €33,484 to €18,250
- Taxes -€2,598
down €2,598 (-49.5%), from €5,250 to €2,652
- Other operating charges -€959
down €959 (-35.8%), from €2,681 to €1,721
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.
Result 2024
€17,572
Gross operating margin
-€15,234
Other operating charges
+€959
Financial income
+€32
Financial charges
+€332
Taxes
+€2,598
Result 2025
€6,260
raises the resultlowers the result
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.
From operations
+€9,534
Investment
€0
Financing
-€9,019
Cash 2024
€33
From operations (derived)
+€9,534
Net result for the year
+€6,260
Depreciation
+€4,340
Receivables within one year
-€25,276
Deferred charges and accrued income
+€127
Trade debts
+€15,692
Tax, wage and social debts
-€5,156
Other debts
+€13,547
Financing
-€9,019
Debts after one year
-€11,184
Current portion of long-term debt
+€471
Short-term financial debts
+€1,695
Cash 2025
€549
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €189,081 | €210,406 | +€21,325 | +11.3% |
| Fixed assets | 21/28 | €147,460 | €143,120 | -€4,340 | -2.9% |
| Tangible fixed assets | 22/27 | €147,460 | €143,120 | -€4,340 | -2.9% |
| Land and buildings | 22 | €147,460 | €143,120 | -€4,340 | -2.9% |
| Current assets | 29/58 | €41,621 | €67,286 | +€25,665 | +61.7% |
| Amounts receivable within one year | 40/41 | €41,119 | €66,395 | +€25,276 | +61.5% |
| Trade receivables | 40 | €2,924 | €1,800 | -€1,124 | -38.4% |
| Other amounts receivable | 41 | €38,196 | €64,595 | +€26,399 | +69.1% |
| Cash at bank and in hand | 54/58 | €33 | €549 | +€515 | +1,551% |
| Deferred charges and accrued income | 490/1 | €469 | €342 | -€127 | -27.1% |
| Total equity and liabilities | 10/49 | €189,081 | €210,406 | +€21,325 | +11.3% |
| Equity | 10/15 | €72,172 | €78,432 | +€6,260 | +8.7% |
| Contributions | 10/11 | €17,030 | €17,030 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,282 | €59,542 | +€6,260 | +11.7% |
| Amounts payable | 17/49 | €116,909 | €131,974 | +€15,065 | +12.9% |
| Amounts payable after more than one year | 17 | €53,177 | €41,993 | -€11,184 | -21.0% |
| Financial debts | 170/4 | €53,177 | €41,993 | -€11,184 | -21.0% |
| Amounts payable within one year | 42/48 | €63,732 | €89,981 | +€26,249 | +41.2% |
| Current portion of amounts payable after more than one year | 42 | €10,713 | €11,184 | +€471 | +4.4% |
| Financial debts | 43 | - | €1,695 | +€1,695 | |
| Other loans | 439 | - | €1,695 | +€1,695 | |
| Trade debts | 44 | €1,320 | €17,012 | +€15,692 | +1,189% |
| Suppliers | 440/4 | €1,320 | €17,012 | +€15,692 | +1,189% |
| Taxes, remuneration and social security | 45 | €13,170 | €8,014 | -€5,156 | -39.1% |
| Taxes | 450/3 | €13,170 | €8,014 | -€5,156 | -39.1% |
| Other amounts payable | 47/48 | €38,529 | €52,076 | +€13,547 | +35.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,340 | €4,340 | = | 0.0% |
| Other operating charges | 640/8 | €2,681 | €1,721 | -€959 | -35.8% |
| Gross operating margin | 9900 | €33,484 | €18,250 | -€15,234 | -45.5% |
| Operating profit (loss) | 9901 | €26,463 | €12,189 | -€14,274 | -53.9% |
| Financial income | 75/76B | - | €32 | +€32 | |
| Recurring financial income | 75 | - | €32 | +€32 | |
| Financial charges | 65/66B | €3,641 | €3,308 | -€332 | -9.1% |
| Recurring financial charges | 65 | €3,641 | €3,308 | -€332 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €22,822 | €8,912 | -€13,910 | -60.9% |
| Income taxes | 67/77 | €5,250 | €2,652 | -€2,598 | -49.5% |
| Profit (loss) for the period | 9904 | €17,572 | €6,260 | -€11,312 | -64.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,572 | €6,260 | -€11,312 | -64.4% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.