Vertebral: 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.
Vertebral
Largest movements
- Receivables within one year -€19,146
down €19,146 (-68.6%), from €27,929 to €8,783
of which Trade receivables: -€19,165
- Deferred charges and accrued income -€6,992
down €6,992 (-83.0%), from €8,429 to €1,437
- Cash +€1,218
up €1,218 (+25.2%), from €4,842 to €6,060
mainly Receivables within one year (+€19,146) and Deferred charges and accrued income (+€6,992)
- Tangible fixed assets -€775
down €775 (-30.1%), from €2,571 to €1,796
- Trade debts -€16,834
down €16,834 (-66.3%), from €25,406 to €8,572
- Tax, wage and social debts -€5,303
down €5,303 (-78.6%), from €6,749 to €1,445
of which Taxes: -€3,087
- Profit (loss) carried forward -€2,442
down €2,442 (-28.8%), from €8,478 to €6,036
- Debts after one year -€1,069
down €1,069 (-92.1%), from €1,161 to €92
- Gross operating margin -€5,746
down €5,746 (-82.8%), from €6,939 to €1,192
- Taxes -€1,157
down €1,157 (-71.0%), from €1,630 to €473
- Depreciation +€322
up €322 (+71.2%), from €453 to €775
- Financial charges -€294
down €294 (-12.4%), from €2,373 to €2,078
- Other operating charges -€148
down €148 (-32.3%), from €457 to €309
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 | €43,772 | €18,077 | -€25,695 | -58.7% |
| Fixed assets | 21/28 | €2,571 | €1,796 | -€775 | -30.1% |
| Tangible fixed assets | 22/27 | €2,571 | €1,796 | -€775 | -30.1% |
| Furniture and vehicles | 24 | €2,571 | €1,796 | -€775 | -30.1% |
| Current assets | 29/58 | €41,201 | €16,280 | -€24,920 | -60.5% |
| Amounts receivable within one year | 40/41 | €27,929 | €8,783 | -€19,146 | -68.6% |
| Trade receivables | 40 | €26,172 | €7,007 | -€19,165 | -73.2% |
| Other amounts receivable | 41 | €1,757 | €1,776 | +€19 | +1.1% |
| Cash at bank and in hand | 54/58 | €4,842 | €6,060 | +€1,218 | +25.2% |
| Deferred charges and accrued income | 490/1 | €8,429 | €1,437 | -€6,992 | -83.0% |
| Total equity and liabilities | 10/49 | €43,772 | €18,077 | -€25,695 | -58.7% |
| Equity | 10/15 | €8,578 | €6,136 | -€2,442 | -28.5% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,478 | €6,036 | -€2,442 | -28.8% |
| Amounts payable | 17/49 | €35,194 | €11,941 | -€23,253 | -66.1% |
| Amounts payable after more than one year | 17 | €1,161 | €92 | -€1,069 | -92.1% |
| Financial debts | 170/4 | €1,161 | €92 | -€1,069 | -92.1% |
| Amounts payable within one year | 42/48 | €34,033 | €11,848 | -€22,184 | -65.2% |
| Current portion of amounts payable after more than one year | 42 | €995 | €1,069 | +€74 | +7.5% |
| Trade debts | 44 | €25,406 | €8,572 | -€16,834 | -66.3% |
| Suppliers | 440/4 | €25,406 | €8,572 | -€16,834 | -66.3% |
| Taxes, remuneration and social security | 45 | €6,749 | €1,445 | -€5,303 | -78.6% |
| Taxes | 450/3 | €4,533 | €1,445 | -€3,087 | -68.1% |
| Remuneration and social security | 454/9 | €2,216 | - | -€2,216 | |
| Other amounts payable | 47/48 | €883 | €762 | -€121 | -13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €453 | €775 | +€322 | +71.2% |
| Other operating charges | 640/8 | €457 | €309 | -€148 | -32.3% |
| Gross operating margin | 9900 | €6,939 | €1,192 | -€5,746 | -82.8% |
| Operating profit (loss) | 9901 | €6,029 | €108 | -€5,921 | -98.2% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €2,373 | €2,078 | -€294 | -12.4% |
| Recurring financial charges | 65 | €2,373 | €2,078 | -€294 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | €3,656 | -€1,969 | -€5,625 | |
| Income taxes | 67/77 | €1,630 | €473 | -€1,157 | -71.0% |
| Profit (loss) for the period | 9904 | €2,026 | -€2,442 | -€4,468 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,026 | -€2,442 | -€4,468 |
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 1 October 2026 via checked.be.