Verthom Consult: what changed
Two financial 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.
Verthom Consult
Largest movements
- Receivables within one year -€37,042
down €37,042 (-54.5%), from €67,932 to €30,890
of which Trade receivables: -€35,870
- Tangible fixed assets -€27,644
down €27,644 (-82.1%), from €33,667 to €6,024
- Cash +€15,302
up €15,302 (+48.3%), from €31,667 to €46,970
mainly Net result for the year (+€67,959) and Receivables within one year (+€37,042)
- Deferred charges and accrued income +€1,754
up €1,754 (+146%), from €1,203 to €2,957
- Reserves -€48,883
down €48,883 (-100%), from €48,883 to €0
- Other debts -€10,341
down €10,341 (-18.4%), from €56,221 to €45,880
- Tax, wage and social debts +€9,346
up €9,346 (+96.7%), from €9,669 to €19,015
- Trade debts +€2,391
up €2,391 (+263%), from €909 to €3,301
- Gross operating margin +€26,004
up €26,004 (+34.4%), from €75,509 to €101,513
- Taxes +€8,229
up €8,229 (+58.8%), from €13,990 to €22,219
- Depreciation -€2,786
down €2,786 (-25.9%), from €10,770 to €7,984
- Financial charges -€1,908
down €1,908 (-82.3%), from €2,319 to €411
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.
Derived cash bridge
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 | €135,605 | €86,890 | -€48,715 | -35.9% |
| Fixed assets | 21/28 | €33,717 | €6,074 | -€27,644 | -82.0% |
| Tangible fixed assets | 22/27 | €33,667 | €6,024 | -€27,644 | -82.1% |
| Furniture and vehicles | 24 | €33,667 | €6,024 | -€27,644 | -82.1% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €101,888 | €80,817 | -€21,071 | -20.7% |
| Amounts receivable within one year | 40/41 | €67,932 | €30,890 | -€37,042 | -54.5% |
| Trade receivables | 40 | €66,760 | €30,890 | -€35,870 | -53.7% |
| Other amounts receivable | 41 | €1,172 | €0 | -€1,172 | -100% |
| Current investments | 50/53 | €1,085 | €0 | -€1,085 | -100% |
| Cash at bank and in hand | 54/58 | €31,667 | €46,970 | +€15,302 | +48.3% |
| Deferred charges and accrued income | 490/1 | €1,203 | €2,957 | +€1,754 | +146% |
| Total equity and liabilities | 10/49 | €135,605 | €86,890 | -€48,715 | -35.9% |
| Equity | 10/15 | €67,483 | €18,600 | -€48,883 | -72.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €48,883 | €0 | -€48,883 | -100% |
| Distributable reserves | 133 | €48,883 | €0 | -€48,883 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €68,122 | €68,290 | +€168 | +0.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €68,122 | €68,290 | +€168 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €1,298 | €0 | -€1,298 | -100% |
| Financial debts | 43 | €25 | €95 | +€70 | +280% |
| Credit institutions | 430/8 | €25 | €95 | +€70 | +280% |
| Trade debts | 44 | €909 | €3,301 | +€2,391 | +263% |
| Suppliers | 440/4 | €909 | €3,301 | +€2,391 | +263% |
| Taxes, remuneration and social security | 45 | €9,669 | €19,015 | +€9,346 | +96.7% |
| Taxes | 450/3 | €9,669 | €19,015 | +€9,346 | +96.7% |
| Other amounts payable | 47/48 | €56,221 | €45,880 | -€10,341 | -18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,770 | €7,984 | -€2,786 | -25.9% |
| Other operating charges | 640/8 | €852 | €1,329 | +€477 | +55.9% |
| Non-recurring operating charges | 66A | - | €1,660 | +€1,660 | |
| Gross operating margin | 9900 | €75,509 | €101,513 | +€26,004 | +34.4% |
| Operating profit (loss) | 9901 | €63,887 | €90,540 | +€26,653 | +41.7% |
| Financial income | 75/76B | €258 | €48 | -€210 | -81.3% |
| Recurring financial income | 75 | €258 | €48 | -€210 | -81.3% |
| Financial charges | 65/66B | €2,319 | €411 | -€1,908 | -82.3% |
| Recurring financial charges | 65 | €2,319 | €411 | -€1,908 | -82.3% |
| Profit (loss) for the period before taxes | 9903 | €61,826 | €90,177 | +€28,351 | +45.9% |
| Income taxes | 67/77 | €13,990 | €22,219 | +€8,229 | +58.8% |
| Profit (loss) for the period | 9904 | €47,836 | €67,959 | +€20,122 | +42.1% |
| Profit (loss) for the period to be appropriated | 9905 | €47,836 | €67,959 | +€20,122 | +42.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.