VERTIGO COMMUNICATIONS: 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.
VERTIGO COMMUNICATIONS
Largest movements
- Tangible fixed assets +€57,530
up €57,530 (+966%), from €5,953 to €63,482
of which Furniture and vehicles: +€57,906
- Cash -€13,147
down €13,147 (-20.6%), from €63,843 to €50,696
mainly Investment in fixed assets (net) (-€63,515) and Receivables within one year (-€5,631)
- Receivables within one year +€5,631
up €5,631 (+45.8%), from €12,304 to €17,935
of which Other amounts receivable: +€5,665
- Debts after one year +€30,636
new in 2025: €30,636
- Reserves +€10,000
up €10,000 (+45.7%), from €21,860 to €31,860
of which Distributable reserves: +€10,000
- Current portion of long-term debt +€7,523
new in 2025: €7,523
- Other debts -€4,050
no longer reported in 2025 (was €4,050)
- Trade debts +€4,000
up €4,000 (+435%), from €920 to €4,919
- Gross operating margin +€13,784
up €13,784 (+55.4%), from €24,891 to €38,676
- Taxes +€6,599
up €6,599 (+96.4%), from €6,847 to €13,446
- Other operating charges +€3,045
up €3,045 (+322%), from €947 to €3,991
- Depreciation +€3,036
up €3,036 (+103%), from €2,949 to €5,986
- Write-downs +€1,008
new in 2025: €1,008
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 | €133,584 | €184,311 | +€50,727 | +38.0% |
| Fixed assets | 21/28 | €5,953 | €63,482 | +€57,530 | +966% |
| Tangible fixed assets | 22/27 | €5,953 | €63,482 | +€57,530 | +966% |
| Plant, machinery and equipment | 23 | €576 | €325 | -€251 | -43.5% |
| Furniture and vehicles | 24 | €5,251 | €63,157 | +€57,906 | +1,103% |
| Other tangible fixed assets | 26 | €126 | - | -€126 | |
| Current assets | 29/58 | €127,631 | €120,829 | -€6,803 | -5.3% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €12,304 | €17,935 | +€5,631 | +45.8% |
| Trade receivables | 40 | €9,971 | €9,936 | -€34 | -0.3% |
| Other amounts receivable | 41 | €2,334 | €7,999 | +€5,665 | +243% |
| Cash at bank and in hand | 54/58 | €63,843 | €50,696 | -€13,147 | -20.6% |
| Deferred charges and accrued income | 490/1 | €1,484 | €2,198 | +€714 | +48.1% |
| Total equity and liabilities | 10/49 | €133,584 | €184,311 | +€50,727 | +38.0% |
| Equity | 10/15 | €113,186 | €125,389 | +€12,203 | +10.8% |
| Contributions | 10/11 | €9,592 | €9,592 | = | 0.0% |
| Reserves | 13 | €21,860 | €31,860 | +€10,000 | +45.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €20,000 | €30,000 | +€10,000 | +50.0% |
| Profit (loss) carried forward | 14 | €81,734 | €83,937 | +€2,203 | +2.7% |
| Amounts payable | 17/49 | €20,398 | €58,922 | +€38,523 | +189% |
| Amounts payable after more than one year | 17 | - | €30,636 | +€30,636 | |
| Financial debts | 170/4 | - | €30,636 | +€30,636 | |
| Amounts payable within one year | 42/48 | €20,398 | €28,286 | +€7,887 | +38.7% |
| Current portion of amounts payable after more than one year | 42 | - | €7,523 | +€7,523 | |
| Trade debts | 44 | €920 | €4,919 | +€4,000 | +435% |
| Suppliers | 440/4 | €920 | €4,919 | +€4,000 | +435% |
| Taxes, remuneration and social security | 45 | €15,428 | €15,843 | +€415 | +2.7% |
| Taxes | 450/3 | €12,884 | €13,123 | +€239 | +1.9% |
| Remuneration and social security | 454/9 | €2,545 | €2,720 | +€176 | +6.9% |
| Other amounts payable | 47/48 | €4,050 | - | -€4,050 | |
| Non-recurring operating income | 76A | €119 | €2,077 | +€1,958 | +1,645% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,949 | €5,986 | +€3,036 | +103% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,008 | +€1,008 | |
| Other operating charges | 640/8 | €947 | €3,991 | +€3,045 | +322% |
| Non-recurring operating charges | 66A | - | €2,516 | +€2,516 | |
| Gross operating margin | 9900 | €24,891 | €38,676 | +€13,784 | +55.4% |
| Operating profit (loss) | 9901 | €20,995 | €25,176 | +€4,180 | +19.9% |
| Financial income | 75/76B | €2,005 | €1,142 | -€863 | -43.1% |
| Recurring financial income | 75 | €2,005 | €1,142 | -€863 | -43.1% |
| Financial charges | 65/66B | €244 | €668 | +€423 | +173% |
| Recurring financial charges | 65 | €244 | €668 | +€423 | +173% |
| Profit (loss) for the period before taxes | 9903 | €22,756 | €25,650 | +€2,894 | +12.7% |
| Income taxes | 67/77 | €6,847 | €13,446 | +€6,599 | +96.4% |
| Profit (loss) for the period | 9904 | €15,909 | €12,203 | -€3,705 | -23.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,909 | €12,203 | -€3,705 | -23.3% |
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 13 October 2026 via checked.be.