Verto Group: 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.
Verto Group
Largest movements
- Receivables within one year -€119,110
down €119,110 (-45.6%), from €261,278 to €142,168
of which Trade receivables: -€150,846
- Tangible fixed assets -€63,829
down €63,829 (-7.9%), from €811,213 to €747,384
of which Furniture and vehicles: -€44,615
- Stocks and contracts +€54,919
up €54,919 (+518%), from €10,611 to €65,530
- Trade debts -€226,642
down €226,642 (-73.5%), from €308,376 to €81,733
- Other debts +€174,625
up €174,625 (+255%), from €68,388 to €243,013
- Debts after one year -€64,458
down €64,458 (-20.1%), from €320,328 to €255,870
- Tax, wage and social debts -€13,114
down €13,114 (-73.2%), from €17,905 to €4,791
of which Taxes: -€9,754
- Gross operating margin -€184,914
down €184,914 (-62.8%), from €294,224 to €109,309
- Staff costs -€32,350
down €32,350 (-92.5%), from €34,975 to €2,625
- Taxes -€7,997
down €7,997 (-83.4%), from €9,584 to €1,587
- Depreciation +€4,201
up €4,201 (+6.6%), from €63,888 to €68,090
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 | €1,091,030 | €965,324 | -€125,705 | -11.5% |
| Fixed assets | 21/28 | €812,904 | €748,359 | -€64,545 | -7.9% |
| Intangible fixed assets | 21 | €1,691 | €975 | -€716 | -42.3% |
| Tangible fixed assets | 22/27 | €811,213 | €747,384 | -€63,829 | -7.9% |
| Land and buildings | 22 | €626,055 | €609,011 | -€17,044 | -2.7% |
| Plant, machinery and equipment | 23 | €10,008 | €7,838 | -€2,171 | -21.7% |
| Furniture and vehicles | 24 | €175,150 | €130,535 | -€44,615 | -25.5% |
| Current assets | 29/58 | €278,126 | €216,966 | -€61,160 | -22.0% |
| Stocks and contracts in progress | 3 | €10,611 | €65,530 | +€54,919 | +518% |
| Stocks | 30/36 | €10,611 | €65,530 | +€54,919 | +518% |
| Amounts receivable within one year | 40/41 | €261,278 | €142,168 | -€119,110 | -45.6% |
| Trade receivables | 40 | €254,616 | €103,770 | -€150,846 | -59.2% |
| Other amounts receivable | 41 | €6,662 | €38,398 | +€31,736 | +476% |
| Cash at bank and in hand | 54/58 | €699 | €3,785 | +€3,087 | +442% |
| Deferred charges and accrued income | 490/1 | €5,539 | €5,483 | -€57 | -1.0% |
| Total equity and liabilities | 10/49 | €1,091,030 | €965,324 | -€125,705 | -11.5% |
| Equity | 10/15 | €91,342 | €92,458 | +€1,116 | +1.2% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,342 | €71,458 | +€1,116 | +1.6% |
| Amounts payable | 17/49 | €999,688 | €872,866 | -€126,821 | -12.7% |
| Amounts payable after more than one year | 17 | €320,328 | €255,870 | -€64,458 | -20.1% |
| Financial debts | 170/4 | €320,328 | €255,870 | -€64,458 | -20.1% |
| Amounts payable within one year | 42/48 | €679,308 | €616,995 | -€62,313 | -9.2% |
| Current portion of amounts payable after more than one year | 42 | €284,640 | €287,458 | +€2,819 | +1.0% |
| Trade debts | 44 | €308,376 | €81,733 | -€226,642 | -73.5% |
| Suppliers | 440/4 | €308,376 | €81,733 | -€226,642 | -73.5% |
| Taxes, remuneration and social security | 45 | €17,905 | €4,791 | -€13,114 | -73.2% |
| Taxes | 450/3 | €13,191 | €3,437 | -€9,754 | -73.9% |
| Remuneration and social security | 454/9 | €4,714 | €1,354 | -€3,360 | -71.3% |
| Other amounts payable | 47/48 | €68,388 | €243,013 | +€174,625 | +255% |
| Accrued charges and deferred income | 492/3 | €52 | €1 | -€50 | -97.4% |
| Remuneration, social security and pensions | 62 | €34,975 | €2,625 | -€32,350 | -92.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,888 | €68,090 | +€4,201 | +6.6% |
| Other operating charges | 640/8 | €10,012 | €7,114 | -€2,898 | -28.9% |
| Non-recurring operating charges | 66A | €121,779 | - | -€121,779 | |
| Gross operating margin | 9900 | €294,224 | €109,309 | -€184,914 | -62.8% |
| Operating profit (loss) | 9901 | €63,569 | €31,480 | -€32,088 | -50.5% |
| Financial income | 75/76B | €185 | €573 | +€388 | +209% |
| Recurring financial income | 75 | €185 | €573 | +€388 | +209% |
| Financial charges | 65/66B | €29,888 | €29,350 | -€538 | -1.8% |
| Recurring financial charges | 65 | €29,888 | €29,350 | -€538 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €33,866 | €2,703 | -€31,163 | -92.0% |
| Income taxes | 67/77 | €9,584 | €1,587 | -€7,997 | -83.4% |
| Profit (loss) for the period | 9904 | €24,282 | €1,116 | -€23,166 | -95.4% |
| Profit (loss) for the period to be appropriated | 9905 | €24,282 | €1,116 | -€23,166 | -95.4% |
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 28 October 2026 via checked.be.