VERTICON: 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.
VERTICON
Largest movements
- Cash -€48,841
down €48,841 (-27.0%), from €181,227 to €132,386
mainly Contributions, distributions and other (-€65,359) and Investment in fixed assets (net) (-€32,784)
- Tangible fixed assets +€32,566
up €32,566 (+455%), from €7,156 to €39,721
- Receivables within one year +€4,245
up €4,245 (+10.1%), from €42,194 to €46,438
of which Other amounts receivable: +€2,801
- Reserves -€14,197
down €14,197 (-5.5%), from €258,889 to €244,692
- Tax, wage and social debts +€4,785
up €4,785 (+20.3%), from €23,530 to €28,315
- Depreciation -€5,744
down €5,744 (-96.3%), from €5,963 to €219
- Gross operating margin +€4,125
up €4,125 (+6.0%), from €68,900 to €73,025
- Financial income +€2,284
up €2,284 (+108%), from €2,119 to €4,404
- Taxes +€1,483
up €1,483 (+7.4%), from €20,093 to €21,576
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 | €302,691 | €292,692 | -€9,999 | -3.3% |
| Fixed assets | 21/28 | €7,156 | €39,721 | +€32,566 | +455% |
| Tangible fixed assets | 22/27 | €7,156 | €39,721 | +€32,566 | +455% |
| Furniture and vehicles | 24 | €7,156 | €39,721 | +€32,566 | +455% |
| Current assets | 29/58 | €295,535 | €252,971 | -€42,564 | -14.4% |
| Amounts receivable within one year | 40/41 | €42,194 | €46,438 | +€4,245 | +10.1% |
| Trade receivables | 40 | €26,797 | €28,242 | +€1,444 | +5.4% |
| Other amounts receivable | 41 | €15,396 | €18,197 | +€2,801 | +18.2% |
| Current investments | 50/53 | €72,115 | €74,147 | +€2,032 | +2.8% |
| Cash at bank and in hand | 54/58 | €181,227 | €132,386 | -€48,841 | -27.0% |
| Total equity and liabilities | 10/49 | €302,691 | €292,692 | -€9,999 | -3.3% |
| Equity | 10/15 | €277,489 | €263,292 | -€14,197 | -5.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €258,889 | €244,692 | -€14,197 | -5.5% |
| Distributable reserves | 133 | €258,889 | €244,692 | -€14,197 | -5.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €25,202 | €29,401 | +€4,198 | +16.7% |
| Amounts payable within one year | 42/48 | €25,202 | €29,401 | +€4,198 | +16.7% |
| Financial debts | 43 | - | €518 | +€518 | |
| Credit institutions | 430/8 | - | €518 | +€518 | |
| Trade debts | 44 | €1,672 | €568 | -€1,104 | -66.1% |
| Suppliers | 440/4 | €1,672 | €568 | -€1,104 | -66.1% |
| Taxes, remuneration and social security | 45 | €23,530 | €28,315 | +€4,785 | +20.3% |
| Taxes | 450/3 | €23,530 | €28,315 | +€4,785 | +20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,963 | €219 | -€5,744 | -96.3% |
| Other operating charges | 640/8 | €1,134 | €1,215 | +€80 | +7.1% |
| Non-recurring operating charges | 66A | - | €3,046 | +€3,046 | |
| Gross operating margin | 9900 | €68,900 | €73,025 | +€4,125 | +6.0% |
| Operating profit (loss) | 9901 | €61,803 | €68,545 | +€6,743 | +10.9% |
| Financial income | 75/76B | €2,119 | €4,404 | +€2,284 | +108% |
| Recurring financial income | 75 | €2,119 | €4,404 | +€2,284 | +108% |
| Financial charges | 65/66B | €325 | €211 | -€114 | -35.0% |
| Recurring financial charges | 65 | €325 | €211 | -€114 | -35.0% |
| Profit (loss) for the period before taxes | 9903 | €63,598 | €72,738 | +€9,141 | +14.4% |
| Income taxes | 67/77 | €20,093 | €21,576 | +€1,483 | +7.4% |
| Profit (loss) for the period | 9904 | €43,505 | €51,162 | +€7,657 | +17.6% |
| Profit (loss) for the period to be appropriated | 9905 | €43,505 | €51,162 | +€7,657 | +17.6% |
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 14 October 2026 via checked.be.