VERTHUS: 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.
What changed
VERTHUS
NACE 47.521, Retail sale of hardware, building materials, paint and glass (general range)
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€132,578
2024 · €235,920-€103,342
Equity
€1.9m
2024 · €1.7m+€122,578
Cash
€489,878
2024 · €400,119+€89,759
Balance sheet total
€4.7m
2024 · €4.7m+€40,010
Largest movements
Assets
- Cash +€89,759
up €89,759 (+22.4%), from €400,119 to €489,878
mainly Depreciation (+€180,383) and Net result for the year (+€132,578)
Equity and liabilities
- Debts after one year -€186,052
down €186,052 (-8.8%), from €2.1m to €1.9m
of which Other amounts payable: -€193,500
- Profit (loss) carried forward +€122,578
up €122,578 (+8.1%), from €1.5m to €1.6m
- Trade debts +€68,735
up €68,735 (+17.5%), from €393,372 to €462,106
Income statement
- Staff costs +€149,091
up €149,091 (+8.9%), from €1.7m to €1.8m
- Taxes -€32,986
down €32,986 (-45.6%), from €72,308 to €39,323
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.
Result 2024
€235,920
Gross operating margin
+€4,904
Staff costs
-€149,091
Depreciation
+€7,227
Other operating charges
+€1,725
Financial income
-€1,963
Financial charges
+€870
Taxes
+€32,986
Result 2025
€132,578
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.
From operations
+€392,132
Investment
-€109,966
Financing
-€192,407
Cash 2024
€400,119
From operations (derived)
+€392,132
Net result for the year
+€132,578
Depreciation
+€180,383
Stocks and contracts
+€22,410
Receivables within one year
-€45,186
Deferred charges and accrued income
+€2,107
Trade debts
+€68,735
Tax, wage and social debts
+€19,221
Other debts
+€11,884
Investment (derived)
-€109,966
Investment in fixed assets (net)
-€109,966
Financing
-€192,407
Debts after one year
-€186,052
Current portion of long-term debt
+€3,645
Contributions, distributions and other
-€10,000
Cash 2025
€489,878
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,675,068 | €4,715,078 | +€40,010 | +0.9% |
| Fixed assets | 21/28 | €536,177 | €465,759 | -€70,417 | -13.1% |
| Intangible fixed assets | 21 | €129,285 | €99,557 | -€29,728 | -23.0% |
| Tangible fixed assets | 22/27 | €405,379 | €366,203 | -€39,176 | -9.7% |
| Land and buildings | 22 | €136,083 | €80,311 | -€55,772 | -41.0% |
| Plant, machinery and equipment | 23 | €160,174 | €180,682 | +€20,508 | +12.8% |
| Furniture and vehicles | 24 | €109,121 | €105,210 | -€3,912 | -3.6% |
| Financial fixed assets | 28 | €1,513 | - | -€1,513 | |
| Current assets | 29/58 | €4,138,891 | €4,249,318 | +€110,427 | +2.7% |
| Stocks and contracts in progress | 3 | €3,580,586 | €3,558,176 | -€22,410 | -0.6% |
| Stocks | 30/36 | €3,580,586 | €3,558,176 | -€22,410 | -0.6% |
| Amounts receivable within one year | 40/41 | €131,127 | €176,313 | +€45,186 | +34.5% |
| Trade receivables | 40 | €100,289 | €133,697 | +€33,407 | +33.3% |
| Other amounts receivable | 41 | €30,838 | €42,616 | +€11,778 | +38.2% |
| Cash at bank and in hand | 54/58 | €400,119 | €489,878 | +€89,759 | +22.4% |
| Deferred charges and accrued income | 490/1 | €27,059 | €24,952 | -€2,107 | -7.8% |
| Total equity and liabilities | 10/49 | €4,675,068 | €4,715,078 | +€40,010 | +0.9% |
| Equity | 10/15 | €1,735,219 | €1,857,797 | +€122,578 | +7.1% |
| Contributions | 10/11 | €156,024 | €156,024 | = | 0.0% |
| Capital | 10 | €156,024 | €156,024 | = | 0.0% |
| Issued capital | 100 | €156,024 | €156,024 | = | 0.0% |
| Reserves | 13 | €66,258 | €66,258 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,602 | €15,602 | = | 0.0% |
| Legal reserve | 130 | €15,602 | €15,602 | = | 0.0% |
| Tax-exempt reserves | 132 | €656 | €656 | = | 0.0% |
| Distributable reserves | 133 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,512,937 | €1,635,515 | +€122,578 | +8.1% |
| Amounts payable | 17/49 | €2,939,849 | €2,857,281 | -€82,568 | -2.8% |
| Amounts payable after more than one year | 17 | €2,117,844 | €1,931,792 | -€186,052 | -8.8% |
| Financial debts | 170/4 | €68,789 | €76,237 | +€7,448 | +10.8% |
| Other amounts payable | 178/9 | €2,049,055 | €1,855,555 | -€193,500 | -9.4% |
| Amounts payable within one year | 42/48 | €822,005 | €925,489 | +€103,484 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €32,834 | €36,480 | +€3,645 | +11.1% |
| Trade debts | 44 | €393,372 | €462,106 | +€68,735 | +17.5% |
| Suppliers | 440/4 | €393,372 | €462,106 | +€68,735 | +17.5% |
| Taxes, remuneration and social security | 45 | €331,742 | €350,963 | +€19,221 | +5.8% |
| Taxes | 450/3 | €92,959 | €86,239 | -€6,721 | -7.2% |
| Remuneration and social security | 454/9 | €238,782 | €264,724 | +€25,941 | +10.9% |
| Other amounts payable | 47/48 | €64,057 | €75,941 | +€11,884 | +18.6% |
| Non-recurring operating income | 76A | - | €908 | +€908 | |
| Remuneration, social security and pensions | 62 | €1,683,529 | €1,832,621 | +€149,091 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €187,610 | €180,383 | -€7,227 | -3.9% |
| Other operating charges | 640/8 | €8,477 | €6,751 | -€1,725 | -20.4% |
| Gross operating margin | 9900 | €2,137,647 | €2,142,551 | +€4,904 | +0.2% |
| Operating profit (loss) | 9901 | €258,032 | €122,796 | -€135,235 | -52.4% |
| Financial income | 75/76B | €69,394 | €67,431 | -€1,963 | -2.8% |
| Recurring financial income | 75 | €69,394 | €67,431 | -€1,963 | -2.8% |
| Financial charges | 65/66B | €19,197 | €18,327 | -€870 | -4.5% |
| Recurring financial charges | 65 | €18,464 | €18,203 | -€261 | -1.4% |
| Non-recurring financial charges | 66B | €733 | €124 | -€609 | -83.1% |
| Profit (loss) for the period before taxes | 9903 | €308,229 | €171,901 | -€136,328 | -44.2% |
| Income taxes | 67/77 | €72,308 | €39,323 | -€32,986 | -45.6% |
| Profit (loss) for the period | 9904 | €235,920 | €132,578 | -€103,342 | -43.8% |
| Profit (loss) for the period to be appropriated | 9905 | €235,920 | €132,578 | -€103,342 | -43.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.