VERTRONICS: 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.
VERTRONICS
Largest movements
- Receivables within one year +€156,670
up €156,670 (+8.0%), from €1.9m to €2.1m
of which Trade receivables: +€118,864
- Stocks and contracts +€61,062
up €61,062 (+94.6%), from €64,545 to €125,606
of which Contracts in progress: +€50,286
- Cash +€28,150
up €28,150 (+3245.6%), from €867 to €29,017
mainly Other debts (+€1.5m) and Net result for the year (+€206,462)
- Other debts +€1.5m
up €1.5m (+211.6%), from €696,699 to €2.2m
- Tax, wage and social debts -€657,961
down €657,961 (-80.7%), from €815,073 to €157,112
of which Remuneration and social security: -€555,550
- Debts after one year -€507,610
no longer reported in 2025 (was €507,610)
- Current portion of long-term debt -€246,749
no longer reported in 2025 (was €246,749)
- Profit (loss) carried forward +€206,462
up €206,462 (+22.7%), from -€909,604 to -€703,143
- Staff costs -€189,578
down €189,578 (-24.4%), from €776,745 to €587,168
- Gross operating margin +€133,067
up €133,067 (+18.4%), from €723,091 to €856,157
- Financial charges -€19,900
down €19,900 (-27.4%), from €72,546 to €52,646
of which Financial charges: -€18,959
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 | €2,035,706 | €2,278,119 | +€242,413 | +11.9% |
| Fixed assets | 21/28 | €22,712 | €19,243 | -€3,468 | -15.3% |
| Tangible fixed assets | 22/27 | €11,543 | €9,035 | -€2,508 | -21.7% |
| Plant, machinery and equipment | 23 | €3,286 | €4,592 | +€1,307 | +39.8% |
| Furniture and vehicles | 24 | €6,188 | €4,443 | -€1,745 | -28.2% |
| Other tangible fixed assets | 26 | €2,070 | - | -€2,070 | |
| Financial fixed assets | 28 | €11,168 | €10,208 | -€960 | -8.6% |
| Current assets | 29/58 | €2,012,994 | €2,258,876 | +€245,881 | +12.2% |
| Stocks and contracts in progress | 3 | €64,545 | €125,606 | +€61,062 | +94.6% |
| Stocks | 30/36 | €64,545 | €75,321 | +€10,776 | +16.7% |
| Contracts in progress | 37 | - | €50,286 | +€50,286 | |
| Amounts receivable within one year | 40/41 | €1,947,582 | €2,104,252 | +€156,670 | +8.0% |
| Trade receivables | 40 | €1,383,415 | €1,502,279 | +€118,864 | +8.6% |
| Other amounts receivable | 41 | €564,167 | €601,973 | +€37,806 | +6.7% |
| Cash at bank and in hand | 54/58 | €867 | €29,017 | +€28,150 | +3245.6% |
| Total equity and liabilities | 10/49 | €2,035,706 | €2,278,119 | +€242,413 | +11.9% |
| Equity | 10/15 | -€539,104 | -€332,643 | +€206,462 | +38.3% |
| Contributions | 10/11 | €155,000 | €155,000 | = | 0.0% |
| Capital | 10 | €155,000 | €155,000 | = | 0.0% |
| Issued capital | 100 | €155,000 | €155,000 | = | 0.0% |
| Reserves | 13 | €215,500 | €215,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,500 | €15,500 | = | 0.0% |
| Legal reserve | 130 | €15,500 | €15,500 | = | 0.0% |
| Distributable reserves | 133 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€909,604 | -€703,143 | +€206,462 | +22.7% |
| Amounts payable | 17/49 | €2,574,810 | €2,610,762 | +€35,952 | +1.4% |
| Amounts payable after more than one year | 17 | €507,610 | - | -€507,610 | |
| Financial debts | 170/4 | €507,610 | - | -€507,610 | |
| Amounts payable within one year | 42/48 | €2,067,200 | €2,610,762 | +€543,562 | +26.3% |
| Current portion of amounts payable after more than one year | 42 | €246,749 | - | -€246,749 | |
| Financial debts | 43 | €65,735 | - | -€65,735 | |
| Credit institutions | 430/8 | €65,735 | - | -€65,735 | |
| Trade debts | 44 | €242,944 | €282,629 | +€39,686 | +16.3% |
| Suppliers | 440/4 | €242,944 | €282,629 | +€39,686 | +16.3% |
| Taxes, remuneration and social security | 45 | €815,073 | €157,112 | -€657,961 | -80.7% |
| Taxes | 450/3 | €114,890 | €12,479 | -€102,411 | -89.1% |
| Remuneration and social security | 454/9 | €700,183 | €144,633 | -€555,550 | -79.3% |
| Other amounts payable | 47/48 | €696,699 | €2,171,021 | +€1.5m | +211.6% |
| Non-recurring operating income | 76A | - | €178,954 | +€178,954 | |
| Remuneration, social security and pensions | 62 | €776,745 | €587,168 | -€189,578 | -24.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,052 | €5,802 | -€1,250 | -17.7% |
| Other operating charges | 640/8 | €4,405 | €6,079 | +€1,675 | +38.0% |
| Gross operating margin | 9900 | €723,091 | €856,157 | +€133,067 | +18.4% |
| Operating profit (loss) | 9901 | -€65,111 | €257,108 | +€322,219 | |
| Financial income | 75/76B | €5,597 | €2,278 | -€3,319 | -59.3% |
| Recurring financial income | 75 | €5,597 | €2,278 | -€3,319 | -59.3% |
| Non-recurring financial income | 76B | €5,597 | €2,278 | -€3,319 | -59.3% |
| Financial charges | 65/66B | €72,546 | €52,646 | -€19,900 | -27.4% |
| Recurring financial charges | 65 | €71,605 | €52,646 | -€18,959 | -26.5% |
| Non-recurring financial charges | 66B | €941 | - | -€941 | |
| Profit (loss) for the period before taxes | 9903 | -€132,060 | €206,741 | +€338,800 | |
| Income taxes | 67/77 | €274 | €279 | +€6 | +2.1% |
| Profit (loss) for the period | 9904 | -€132,333 | €206,462 | +€338,795 | |
| Profit (loss) for the period to be appropriated | 9905 | -€132,333 | €206,462 | +€338,795 |
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 5 October 2026 via checked.be.