VERTIKA: 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.
VERTIKA
Largest movements
- Stocks and contracts +€83,082
up €83,082 (+32.7%), from €254,231 to €337,313
- Receivables within one year +€31,375
up €31,375 (+219.5%), from €14,292 to €45,667
of which Trade receivables: +€32,240
- Deferred charges and accrued income -€23,275
down €23,275 (-73.2%), from €31,817 to €8,542
- Cash +€11,317
up €11,317 (+23.0%), from €49,282 to €60,599
mainly Trade debts (+€71,338) and Deferred charges and accrued income (+€23,275)
- Trade debts +€71,338
up €71,338 (+65.8%), from €108,382 to €179,720
- Profit (loss) carried forward +€17,803
up €17,803 (+14.7%), from €120,924 to €138,727
- Tax, wage and social debts +€15,780
up €15,780 (+14.0%), from €112,994 to €128,774
of which Remuneration and social security: +€25,069
- Turnover +€8.2m
new in 2025: €8.2m
- Purchases and services +€7.6m
new in 2025: €7.6m
- Gross operating margin +€416,449
up €416,449 (+117.1%), from €355,753 to €772,202
- Staff costs +€408,064
up €408,064 (+147.1%), from €277,484 to €685,548
From the 31-12-2024 result to the 31-12-2025 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.
Cash bridge derived
Derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €364,510 | €469,381 | +€104,871 | +28.8% |
| Fixed assets | 21/28 | €14,888 | €17,260 | +€2,372 | +15.9% |
| Tangible fixed assets | 22/27 | €5,078 | €4,050 | -€1,028 | -20.2% |
| Plant, machinery and equipment | 23 | €62 | - | -€62 | |
| Furniture and vehicles | 24 | €93 | - | -€93 | |
| Other tangible fixed assets | 26 | €4,923 | €4,050 | -€873 | -17.7% |
| Financial fixed assets | 28 | €9,810 | €13,210 | +€3,400 | +34.7% |
| Current assets | 29/58 | €349,622 | €452,121 | +€102,499 | +29.3% |
| Stocks and contracts in progress | 3 | €254,231 | €337,313 | +€83,082 | +32.7% |
| Stocks | 30/36 | €254,231 | €337,313 | +€83,082 | +32.7% |
| Amounts receivable within one year | 40/41 | €14,292 | €45,667 | +€31,375 | +219.5% |
| Trade receivables | 40 | €8,511 | €40,751 | +€32,240 | +378.8% |
| Other amounts receivable | 41 | €5,781 | €4,916 | -€865 | -15.0% |
| Cash at bank and in hand | 54/58 | €49,282 | €60,599 | +€11,317 | +23.0% |
| Deferred charges and accrued income | 490/1 | €31,817 | €8,542 | -€23,275 | -73.2% |
| Total equity and liabilities | 10/49 | €364,510 | €469,381 | +€104,871 | +28.8% |
| Equity | 10/15 | €143,084 | €160,887 | +€17,803 | +12.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €1,700 | €1,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,700 | €1,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | €120,924 | €138,727 | +€17,803 | +14.7% |
| Amounts payable | 17/49 | €221,426 | €308,494 | +€87,068 | +39.3% |
| Amounts payable within one year | 42/48 | €221,426 | €308,494 | +€87,068 | +39.3% |
| Trade debts | 44 | €108,382 | €179,720 | +€71,338 | +65.8% |
| Suppliers | 440/4 | €108,382 | €179,720 | +€71,338 | +65.8% |
| Taxes, remuneration and social security | 45 | €112,994 | €128,774 | +€15,780 | +14.0% |
| Taxes | 450/3 | €15,297 | €6,008 | -€9,289 | -60.7% |
| Remuneration and social security | 454/9 | €97,697 | €122,766 | +€25,069 | +25.7% |
| Other amounts payable | 47/48 | €50 | - | -€50 | |
| Turnover | 70 | - | €8,181,476 | +€8.2m | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €7,617,261 | +€7.6m | |
| Remuneration, social security and pensions | 62 | €277,484 | €685,548 | +€408,064 | +147.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €743 | €1,028 | +€285 | +38.4% |
| Other operating charges | 640/8 | €4,835 | €58,145 | +€53,310 | +1102.6% |
| Gross operating margin | 9900 | €355,753 | €772,202 | +€416,449 | +117.1% |
| Operating profit (loss) | 9901 | €72,691 | €27,481 | -€45,210 | -62.2% |
| Financial income | 75/76B | €54 | €474 | +€420 | +777.8% |
| Recurring financial income | 75 | €54 | €474 | +€420 | +777.8% |
| Financial charges | 65/66B | €2,889 | €6,791 | +€3,902 | +135.1% |
| Recurring financial charges | 65 | €2,889 | €6,791 | +€3,902 | +135.1% |
| Profit (loss) for the period before taxes | 9903 | €69,856 | €21,164 | -€48,692 | -69.7% |
| Income taxes | 67/77 | €12,774 | €3,361 | -€9,413 | -73.7% |
| Profit (loss) for the period | 9904 | €57,082 | €17,803 | -€39,279 | -68.8% |
| Profit (loss) for the period to be appropriated | 9905 | €57,082 | €17,803 | -€39,279 | -68.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.