Vertrinvest: 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.
Vertrinvest
Largest movements
- Tangible fixed assets +€63,186
up €63,186 (+4.5%), from €1.4m to €1.5m
of which Assets under construction and advance payments: +€63,186
- Cash -€38,291
down €38,291 (-37.8%), from €101,314 to €63,023
mainly Investment in fixed assets (net) (-€94,398) and Debts after one year (-€52,569)
- Profit (loss) carried forward +€57,287
up €57,287 (+42.2%), from -€135,729 to -€78,442
- Current portion of long-term debt +€53,708
up €53,708 (+256.8%), from €20,915 to €74,623
- Debts after one year -€52,569
down €52,569 (-3.8%), from €1.4m to €1.3m
- Other debts -€50,000
down €50,000 (-23.4%), from €213,250 to €163,250
- Gross operating margin +€100,369
up €100,369 (+791.9%), from €12,675 to €113,044
- Depreciation +€7,740
up €7,740 (+33.0%), from €23,472 to €31,213
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.
Cash bridge derived
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 | €1,530,731 | €1,544,417 | +€13,687 | +0.9% |
| Fixed assets | 21/28 | €1,418,167 | €1,481,353 | +€63,186 | +4.5% |
| Tangible fixed assets | 22/27 | €1,418,167 | €1,481,353 | +€63,186 | +4.5% |
| Land and buildings | 22 | €493,250 | €493,250 | = | 0.0% |
| Assets under construction and advance payments | 27 | €924,917 | €988,103 | +€63,186 | +6.8% |
| Current assets | 29/58 | €112,564 | €63,065 | -€49,499 | -44.0% |
| Amounts receivable within one year | 40/41 | €11,249 | €42 | -€11,208 | -99.6% |
| Other amounts receivable | 41 | €11,249 | €42 | -€11,208 | -99.6% |
| Cash at bank and in hand | 54/58 | €101,314 | €63,023 | -€38,291 | -37.8% |
| Total equity and liabilities | 10/49 | €1,530,731 | €1,544,417 | +€13,687 | +0.9% |
| Equity | 10/15 | -€85,729 | -€28,442 | +€57,287 | +66.8% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€135,729 | -€78,442 | +€57,287 | +42.2% |
| Amounts payable | 17/49 | €1,616,460 | €1,572,859 | -€43,601 | -2.7% |
| Amounts payable after more than one year | 17 | €1,378,423 | €1,325,854 | -€52,569 | -3.8% |
| Financial debts | 170/4 | €1,378,423 | €1,325,854 | -€52,569 | -3.8% |
| Amounts payable within one year | 42/48 | €236,571 | €245,489 | +€8,917 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €20,915 | €74,623 | +€53,708 | +256.8% |
| Trade debts | 44 | €2,406 | €1,120 | -€1,286 | -53.4% |
| Suppliers | 440/4 | €2,406 | €1,120 | -€1,286 | -53.4% |
| Taxes, remuneration and social security | 45 | - | €6,495 | +€6,495 | |
| Taxes | 450/3 | - | €6,495 | +€6,495 | |
| Other amounts payable | 47/48 | €213,250 | €163,250 | -€50,000 | -23.4% |
| Accrued charges and deferred income | 492/3 | €1,466 | €1,517 | +€51 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,472 | €31,213 | +€7,740 | +33.0% |
| Other operating charges | 640/8 | €486 | €998 | +€513 | +105.6% |
| Gross operating margin | 9900 | €12,675 | €113,044 | +€100,369 | +791.9% |
| Operating profit (loss) | 9901 | -€11,283 | €80,833 | +€92,115 | |
| Financial income | 75/76B | - | €139 | +€139 | |
| Recurring financial income | 75 | - | €139 | +€139 | |
| Financial charges | 65/66B | €23,269 | €23,684 | +€415 | +1.8% |
| Recurring financial charges | 65 | €23,269 | €23,684 | +€415 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | -€34,552 | €57,287 | +€91,839 | |
| Profit (loss) for the period | 9904 | -€34,552 | €57,287 | +€91,839 | |
| Profit (loss) for the period to be appropriated | 9905 | -€34,552 | €57,287 | +€91,839 |
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 4 October 2026 via checked.be.