VERTHO ACCOUNT: what changed
VERTHO ACCOUNT
Largest movements
- Tangible fixed assets -€5,754
down €5,754 (-8.4%), from €68,596 to €62,841
of which Other tangible fixed assets: -€3,481
- Receivables within one year +€5,046
up €5,046 (+87.9%), from €5,741 to €10,787
of which Trade receivables: +€5,544
- Cash +€4,200
up €4,200 (+19.4%), from €21,605 to €25,804
mainly Net result for the year (+€17,178) and Depreciation (+€5,754)
- Deferred charges and accrued income -€1,571
down €1,571 (-21.5%), from €7,315 to €5,743
- Profit (loss) carried forward +€17,178
up €17,178 (+8,207%), from €209 to €17,388
- Debts after one year -€10,195
down €10,195 (-20.9%), from €48,811 to €38,616
- Other debts -€5,384
down €5,384 (-25.6%), from €21,038 to €15,654
- Tax, wage and social debts +€1,063
up €1,063 (+49.0%), from €2,168 to €3,231
- Gross operating margin +€18,722
up €18,722 (+93.0%), from €20,126 to €38,848
- Taxes +€3,192
up €3,192 (+99.4%), from €3,210 to €6,403
- Other operating charges +€1,851
up €1,851 (+132%), from €1,404 to €3,255
- Financial charges +€1,715
up €1,715 (+37.7%), from €4,543 to €6,258
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 | €103,256 | €105,176 | +€1,920 | +1.9% |
| Fixed assets | 21/28 | €68,596 | €62,841 | -€5,754 | -8.4% |
| Tangible fixed assets | 22/27 | €68,596 | €62,841 | -€5,754 | -8.4% |
| Furniture and vehicles | 24 | €3,828 | €1,555 | -€2,273 | -59.4% |
| Other tangible fixed assets | 26 | €64,767 | €61,286 | -€3,481 | -5.4% |
| Current assets | 29/58 | €34,661 | €42,335 | +€7,674 | +22.1% |
| Amounts receivable within one year | 40/41 | €5,741 | €10,787 | +€5,046 | +87.9% |
| Trade receivables | 40 | €5,244 | €10,787 | +€5,544 | +106% |
| Other amounts receivable | 41 | €498 | €0 | -€498 | -100% |
| Cash at bank and in hand | 54/58 | €21,605 | €25,804 | +€4,200 | +19.4% |
| Deferred charges and accrued income | 490/1 | €7,315 | €5,743 | -€1,571 | -21.5% |
| Total equity and liabilities | 10/49 | €103,256 | €105,176 | +€1,920 | +1.9% |
| Equity | 10/15 | €18,875 | €36,053 | +€17,178 | +91.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €17,666 | €17,666 | = | 0.0% |
| Distributable reserves | 133 | €17,666 | €17,666 | = | 0.0% |
| Profit (loss) carried forward | 14 | €209 | €17,388 | +€17,178 | +8,207% |
| Amounts payable | 17/49 | €84,381 | €69,123 | -€15,258 | -18.1% |
| Amounts payable after more than one year | 17 | €48,811 | €38,616 | -€10,195 | -20.9% |
| Financial debts | 170/4 | €48,811 | €38,616 | -€10,195 | -20.9% |
| Amounts payable within one year | 42/48 | €35,570 | €30,507 | -€5,063 | -14.2% |
| Current portion of amounts payable after more than one year | 42 | €10,363 | €10,195 | -€168 | -1.6% |
| Trade debts | 44 | €2,001 | €1,427 | -€574 | -28.7% |
| Suppliers | 440/4 | €2,001 | €1,427 | -€574 | -28.7% |
| Taxes, remuneration and social security | 45 | €2,168 | €3,231 | +€1,063 | +49.0% |
| Taxes | 450/3 | €2,168 | €3,231 | +€1,063 | +49.0% |
| Other amounts payable | 47/48 | €21,038 | €15,654 | -€5,384 | -25.6% |
| Non-recurring operating income | 76A | €689 | €0 | -€689 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,562 | €5,754 | +€193 | +3.5% |
| Other operating charges | 640/8 | €1,404 | €3,255 | +€1,851 | +132% |
| Gross operating margin | 9900 | €20,126 | €38,848 | +€18,722 | +93.0% |
| Operating profit (loss) | 9901 | €13,161 | €29,839 | +€16,678 | +127% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €4,543 | €6,258 | +€1,715 | +37.7% |
| Recurring financial charges | 65 | €4,543 | €6,258 | +€1,715 | +37.7% |
| Profit (loss) for the period before taxes | 9903 | €8,617 | €23,581 | +€14,964 | +174% |
| Income taxes | 67/77 | €3,210 | €6,403 | +€3,192 | +99.4% |
| Profit (loss) for the period | 9904 | €5,407 | €17,178 | +€11,771 | +218% |
| Profit (loss) for the period to be appropriated | 9905 | €5,407 | €17,178 | +€11,771 | +218% |
Next steps
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 2 November 2026 via checked.be.