VERTAS: 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.
VERTAS
Largest movements
- Receivables within one year +€25,495
up €25,495 (+38.5%), from €66,181 to €91,676
of which Trade receivables: +€14,303
- Cash -€18,000
down €18,000 (-94.7%), from €19,006 to €1,006
mainly Receivables within one year (-€25,495) and Trade debts (-€727)
- Profit (loss) carried forward +€6,454
up €6,454 (+7.9%), from -€82,144 to -€75,689
- Write-downs -€83,572
no longer reported in 2025 (was €83,572)
- Gross operating margin -€5,043
down €5,043 (-43.6%), from €11,556 to €6,514
- Other operating charges -€636
no longer reported in 2025 (was €636)
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 | €208,186 | €215,682 | +€7,495 | +3.6% |
| Fixed assets | 21/28 | €123,000 | €123,000 | = | 0.0% |
| Financial fixed assets | 28 | €123,000 | €123,000 | = | 0.0% |
| Current assets | 29/58 | €85,186 | €92,682 | +€7,495 | +8.8% |
| Amounts receivable within one year | 40/41 | €66,181 | €91,676 | +€25,495 | +38.5% |
| Trade receivables | 40 | €19,473 | €33,776 | +€14,303 | +73.5% |
| Other amounts receivable | 41 | €46,708 | €57,900 | +€11,192 | +24.0% |
| Cash at bank and in hand | 54/58 | €19,006 | €1,006 | -€18,000 | -94.7% |
| Total equity and liabilities | 10/49 | €208,186 | €215,682 | +€7,495 | +3.6% |
| Equity | 10/15 | €128,316 | €134,771 | +€6,454 | +5.0% |
| Contributions | 10/11 | €93,600 | €93,600 | = | 0.0% |
| Reserves | 13 | €116,860 | €116,860 | = | 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% |
| Distributable reserves | 133 | €115,000 | €115,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€82,144 | -€75,689 | +€6,454 | +7.9% |
| Amounts payable | 17/49 | €79,870 | €80,911 | +€1,041 | +1.3% |
| Amounts payable after more than one year | 17 | €42,971 | €42,971 | = | 0.0% |
| Financial debts | 170/4 | €42,971 | €42,971 | = | 0.0% |
| Amounts payable within one year | 42/48 | €36,899 | €37,940 | +€1,041 | +2.8% |
| Trade debts | 44 | €727 | - | -€727 | |
| Suppliers | 440/4 | €727 | - | -€727 | |
| Other amounts payable | 47/48 | €36,172 | €37,940 | +€1,768 | +4.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €83,572 | - | -€83,572 | |
| Other operating charges | 640/8 | €636 | - | -€636 | |
| Gross operating margin | 9900 | €11,556 | €6,514 | -€5,043 | -43.6% |
| Operating profit (loss) | 9901 | -€72,651 | €6,514 | +€79,165 | |
| Financial charges | 65/66B | €127 | €59 | -€68 | -53.5% |
| Recurring financial charges | 65 | €127 | €59 | -€68 | -53.5% |
| Profit (loss) for the period before taxes | 9903 | -€72,779 | €6,454 | +€79,233 | |
| Profit (loss) for the period | 9904 | -€72,779 | €6,454 | +€79,233 | |
| Profit (loss) for the period to be appropriated | 9905 | -€72,779 | €6,454 | +€79,233 |
Source: filed annual accounts (NBB), fiscal years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.