VERTONGEN MPSV: what changed
What changed
VERTONGEN MPSV
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
filed annual accounts (NBB)
Net result for the year
€43,033
2024 · €2,047+€40,986
Equity
€168,581
2024 · €125,548+€43,033
Cash
€66,453
2024 · €25,060+€41,392
Balance sheet total
€2.5m
2024 · €2.0m+€477,966
Largest movements
Assets
- Tangible fixed assets +€426,474
up €426,474 (+21.6%), from €2.0m to €2.4m
of which Land and buildings: +€436,332
- Cash +€41,392
up €41,392 (+165%), from €25,060 to €66,453
mainly Debts after one year (+€407,506) and Depreciation (+€95,255)
Equity and liabilities
- Debts after one year +€407,506
up €407,506 (+24.2%), from €1.7m to €2.1m
- Reserves +€43,033
up €43,033 (+35.0%), from €123,048 to €166,081
Income statement
- Gross operating margin +€65,032
up €65,032 (+23.3%), from €278,659 to €343,691
- Taxes +€13,024
up €13,024 (+1,705%), from €764 to €13,788
- Other operating charges -€11,186
down €11,186 (-65.3%), from €17,125 to €5,939
- Depreciation +€8,481
up €8,481 (+9.8%), from €86,774 to €95,255
- Staff costs +€7,671
up €7,671 (+6.2%), from €124,191 to €131,863
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.
Result 2024
€2,047
Gross operating margin
+€65,032
Staff costs
-€7,671
Depreciation
-€8,481
Other operating charges
+€11,186
Financial income
-€7
Financial charges
-€6,049
Taxes
-€13,024
Result 2025
€43,033
raises the resultlowers the result
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.
From operations
+€141,084
Investment
-€521,729
Financing
+€422,037
Cash 2024
€25,060
From operations (derived)
+€141,084
Net result for the year
+€43,033
Depreciation
+€95,255
Receivables within one year
-€6,648
Deferred charges and accrued income
-€3,451
Smaller working-capital items
+€3,016
Tax, wage and social debts
-€4,285
Other debts
+€14,166
Investment (derived)
-€521,729
Investment in fixed assets (net)
-€521,729
Financing
+€422,037
Debts after one year
+€407,506
Current portion of long-term debt
+€14,531
Cash 2025
€66,453
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,017,442 | €2,495,407 | +€477,966 | +23.7% |
| Fixed assets | 21/28 | €1,970,707 | €2,397,181 | +€426,474 | +21.6% |
| Tangible fixed assets | 22/27 | €1,970,707 | €2,397,181 | +€426,474 | +21.6% |
| Land and buildings | 22 | €1,899,580 | €2,335,913 | +€436,332 | +23.0% |
| Plant, machinery and equipment | 23 | €9,622 | €10,842 | +€1,220 | +12.7% |
| Furniture and vehicles | 24 | €61,505 | €50,426 | -€11,079 | -18.0% |
| Current assets | 29/58 | €46,734 | €98,226 | +€51,492 | +110% |
| Amounts receivable within one year | 40/41 | €15,147 | €21,795 | +€6,648 | +43.9% |
| Trade receivables | 40 | €14,995 | €21,643 | +€6,648 | +44.3% |
| Other amounts receivable | 41 | €152 | €152 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €25,060 | €66,453 | +€41,392 | +165% |
| Deferred charges and accrued income | 490/1 | €6,527 | €9,979 | +€3,451 | +52.9% |
| Total equity and liabilities | 10/49 | €2,017,442 | €2,495,407 | +€477,966 | +23.7% |
| Equity | 10/15 | €125,548 | €168,581 | +€43,033 | +34.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €123,048 | €166,081 | +€43,033 | +35.0% |
| Distributable reserves | 133 | €123,048 | €166,081 | +€43,033 | +35.0% |
| Amounts payable | 17/49 | €1,891,893 | €2,326,826 | +€434,933 | +23.0% |
| Amounts payable after more than one year | 17 | €1,686,026 | €2,093,532 | +€407,506 | +24.2% |
| Financial debts | 170/4 | €1,686,026 | €2,093,532 | +€407,506 | +24.2% |
| Amounts payable within one year | 42/48 | €164,913 | €191,325 | +€26,412 | +16.0% |
| Current portion of amounts payable after more than one year | 42 | €86,861 | €101,391 | +€14,531 | +16.7% |
| Trade debts | 44 | €1,148 | €1,879 | +€730 | +63.6% |
| Suppliers | 440/4 | €1,148 | €1,879 | +€730 | +63.6% |
| Advances received on contracts in progress | 46 | - | €1,271 | +€1,271 | |
| Taxes, remuneration and social security | 45 | €37,445 | €33,160 | -€4,285 | -11.4% |
| Taxes | 450/3 | €37,445 | €33,160 | -€4,285 | -11.4% |
| Other amounts payable | 47/48 | €39,459 | €53,625 | +€14,166 | +35.9% |
| Accrued charges and deferred income | 492/3 | €40,954 | €41,969 | +€1,015 | +2.5% |
| Remuneration, social security and pensions | 62 | €124,191 | €131,863 | +€7,671 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,774 | €95,255 | +€8,481 | +9.8% |
| Other operating charges | 640/8 | €17,125 | €5,939 | -€11,186 | -65.3% |
| Gross operating margin | 9900 | €278,659 | €343,691 | +€65,032 | +23.3% |
| Operating profit (loss) | 9901 | €50,569 | €110,634 | +€60,065 | +119% |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €47,765 | €53,813 | +€6,049 | +12.7% |
| Recurring financial charges | 65 | €47,765 | €53,813 | +€6,049 | +12.7% |
| Profit (loss) for the period before taxes | 9903 | €2,811 | €56,821 | +€54,010 | +1,921% |
| Income taxes | 67/77 | €764 | €13,788 | +€13,024 | +1,705% |
| Profit (loss) for the period | 9904 | €2,047 | €43,033 | +€40,986 | +2,002% |
| Profit (loss) for the period to be appropriated | 9905 | €2,047 | €43,033 | +€40,986 | +2,002% |
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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 5 November 2026 via checked.be.