Vertico Business Solutions: what changed
Vertico Business Solutions
Largest movements
- Receivables within one year +€98,820
up €98,820 (+86.3%), from €114,545 to €213,365
of which Trade receivables: +€93,056
- Tangible fixed assets +€42,120
up €42,120 (+69.7%), from €60,423 to €102,543
of which Furniture and vehicles: +€41,995
- Cash -€41,194
down €41,194 (-79.1%), from €52,087 to €10,894
mainly Receivables within one year (-€98,820) and Investment in fixed assets (net) (-€73,268)
- Intangible fixed assets -€40,000
down €40,000 (-10.4%), from €386,082 to €346,082
- Stocks and contracts +€7,664
up €7,664 (+77.6%), from €9,877 to €17,541
- Profit (loss) carried forward +€85,973
new in 2025: €85,973
- Accrued charges and deferred income -€43,804
down €43,804 (-88.7%), from €49,396 to €5,592
- Tax, wage and social debts +€39,810
up €39,810 (+90.6%), from €43,933 to €83,743
of which Remuneration and social security: +€21,832
- Debts after one year -€34,006
down €34,006 (-11.6%), from €291,956 to €257,950
- Trade debts +€16,515
up €16,515 (+21.9%), from €75,484 to €91,999
- Gross operating margin +€375,181
up €375,181 (+250%), from €149,901 to €525,082
- Staff costs +€218,658
up €218,658 (+221%), from €99,028 to €317,686
- Depreciation +€47,300
up €47,300 (+233%), from €20,298 to €67,598
- Taxes +€21,735
up €21,735 (+289%), from €7,521 to €29,257
- Financial charges +€6,938
up €6,938 (+152%), from €4,557 to €11,495
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 | €634,466 | €698,503 | +€64,037 | +10.1% |
| Formation expenses | 20 | €1,326 | €0 | -€1,326 | -100% |
| Fixed assets | 21/28 | €449,708 | €456,703 | +€6,995 | +1.6% |
| Intangible fixed assets | 21 | €386,082 | €346,082 | -€40,000 | -10.4% |
| Tangible fixed assets | 22/27 | €60,423 | €102,543 | +€42,120 | +69.7% |
| Land and buildings | 22 | - | €1,032 | +€1,032 | |
| Plant, machinery and equipment | 23 | €9,024 | €8,117 | -€907 | -10.1% |
| Furniture and vehicles | 24 | €51,399 | €93,394 | +€41,995 | +81.7% |
| Financial fixed assets | 28 | €3,203 | €8,078 | +€4,875 | +152% |
| Current assets | 29/58 | €183,432 | €241,800 | +€58,368 | +31.8% |
| Stocks and contracts in progress | 3 | €9,877 | €17,541 | +€7,664 | +77.6% |
| Stocks | 30/36 | €9,877 | €17,541 | +€7,664 | +77.6% |
| Amounts receivable within one year | 40/41 | €114,545 | €213,365 | +€98,820 | +86.3% |
| Trade receivables | 40 | €108,248 | €201,304 | +€93,056 | +86.0% |
| Other amounts receivable | 41 | €6,297 | €12,061 | +€5,764 | +91.5% |
| Cash at bank and in hand | 54/58 | €52,087 | €10,894 | -€41,194 | -79.1% |
| Deferred charges and accrued income | 490/1 | €6,923 | €0 | -€6,923 | -100% |
| Total equity and liabilities | 10/49 | €634,466 | €698,503 | +€64,037 | +10.1% |
| Equity | 10/15 | €96,432 | €182,405 | +€85,973 | +89.2% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €16,432 | €16,432 | = | 0.0% |
| Distributable reserves | 133 | €16,432 | €16,432 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €85,973 | +€85,973 | |
| Amounts payable | 17/49 | €538,034 | €516,097 | -€21,936 | -4.1% |
| Amounts payable after more than one year | 17 | €291,956 | €257,950 | -€34,006 | -11.6% |
| Financial debts | 170/4 | €291,956 | €257,950 | -€34,006 | -11.6% |
| Amounts payable within one year | 42/48 | €196,682 | €252,556 | +€55,874 | +28.4% |
| Current portion of amounts payable after more than one year | 42 | €63,375 | €76,152 | +€12,777 | +20.2% |
| Financial debts | 43 | €13,890 | €78 | -€13,813 | -99.4% |
| Credit institutions | 430/8 | €12,000 | €0 | -€12,000 | -100% |
| Other loans | 439 | €1,890 | €78 | -€1,813 | -95.9% |
| Trade debts | 44 | €75,484 | €91,999 | +€16,515 | +21.9% |
| Suppliers | 440/4 | €75,484 | €91,999 | +€16,515 | +21.9% |
| Taxes, remuneration and social security | 45 | €43,933 | €83,743 | +€39,810 | +90.6% |
| Taxes | 450/3 | €34,358 | €52,335 | +€17,977 | +52.3% |
| Remuneration and social security | 454/9 | €9,575 | €31,407 | +€21,832 | +228% |
| Other amounts payable | 47/48 | - | €584 | +€584 | |
| Accrued charges and deferred income | 492/3 | €49,396 | €5,592 | -€43,804 | -88.7% |
| Remuneration, social security and pensions | 62 | €99,028 | €317,686 | +€218,658 | +221% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,298 | €67,598 | +€47,300 | +233% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,946 | +€5,946 | |
| Other operating charges | 640/8 | €2,071 | €8,058 | +€5,987 | +289% |
| Non-recurring operating charges | 66A | - | €100 | +€100 | |
| Gross operating margin | 9900 | €149,901 | €525,082 | +€375,181 | +250% |
| Operating profit (loss) | 9901 | €28,504 | €125,694 | +€97,189 | +341% |
| Financial income | 75/76B | €6 | €1,031 | +€1,025 | +16,342% |
| Recurring financial income | 75 | €6 | €1,031 | +€1,025 | +16,342% |
| Financial charges | 65/66B | €4,557 | €11,495 | +€6,938 | +152% |
| Recurring financial charges | 65 | €4,557 | €11,495 | +€6,938 | +152% |
| Profit (loss) for the period before taxes | 9903 | €23,954 | €115,230 | +€91,276 | +381% |
| Income taxes | 67/77 | €7,521 | €29,257 | +€21,735 | +289% |
| Profit (loss) for the period | 9904 | €16,432 | €85,973 | +€69,541 | +423% |
| Profit (loss) for the period to be appropriated | 9905 | €16,432 | €85,973 | +€69,541 | +423% |
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 3 November 2026 via checked.be.