VERTU: 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.
VERTU
Largest movements
- Stocks and contracts +€12,602
up €12,602 (+67.0%), from €18,803 to €31,405
- Intangible fixed assets -€12,026
down €12,026 (-24.7%), from €48,777 to €36,751
- Receivables within one year -€2,421
down €2,421 (-54.7%), from €4,424 to €2,003
of which Other amounts receivable: -€1,461
- Deferred charges and accrued income -€2,415
down €2,415 (-61.0%), from €3,962 to €1,546
- Tangible fixed assets -€2,396
down €2,396 (-29.1%), from €8,247 to €5,851
- Other debts +€25,634
up €25,634 (+61.6%), from €41,638 to €67,272
- Trade debts -€21,328
down €21,328 (-48.7%), from €43,809 to €22,481
- Profit (loss) carried forward -€13,212
down €13,212 (-316%), from -€4,186 to -€17,398
- Gross operating margin -€17,236
down €17,236 (-89.3%), from €19,298 to €2,061
- Depreciation +€4,087
up €4,087 (+39.5%), from €10,335 to €14,422
- Other operating charges +€417
new in 2025: €417
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 | €98,320 | €89,415 | -€8,905 | -9.1% |
| Fixed assets | 21/28 | €57,024 | €42,602 | -€14,422 | -25.3% |
| Intangible fixed assets | 21 | €48,777 | €36,751 | -€12,026 | -24.7% |
| Tangible fixed assets | 22/27 | €8,247 | €5,851 | -€2,396 | -29.1% |
| Plant, machinery and equipment | 23 | €8,247 | €5,851 | -€2,396 | -29.1% |
| Current assets | 29/58 | €41,297 | €46,814 | +€5,517 | +13.4% |
| Stocks and contracts in progress | 3 | €18,803 | €31,405 | +€12,602 | +67.0% |
| Stocks | 30/36 | €18,803 | €31,405 | +€12,602 | +67.0% |
| Amounts receivable within one year | 40/41 | €4,424 | €2,003 | -€2,421 | -54.7% |
| Trade receivables | 40 | €961 | - | -€961 | |
| Other amounts receivable | 41 | €3,464 | €2,003 | -€1,461 | -42.2% |
| Cash at bank and in hand | 54/58 | €14,108 | €11,859 | -€2,248 | -15.9% |
| Deferred charges and accrued income | 490/1 | €3,962 | €1,546 | -€2,415 | -61.0% |
| Total equity and liabilities | 10/49 | €98,320 | €89,415 | -€8,905 | -9.1% |
| Equity | 10/15 | €12,874 | -€338 | -€13,212 | |
| Contributions | 10/11 | €15,200 | €15,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,186 | -€17,398 | -€13,212 | -316% |
| Amounts payable | 17/49 | €85,447 | €89,753 | +€4,307 | +5.0% |
| Amounts payable within one year | 42/48 | €85,447 | €89,753 | +€4,307 | +5.0% |
| Trade debts | 44 | €43,809 | €22,481 | -€21,328 | -48.7% |
| Suppliers | 440/4 | €43,809 | €22,481 | -€21,328 | -48.7% |
| Other amounts payable | 47/48 | €41,638 | €67,272 | +€25,634 | +61.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,335 | €14,422 | +€4,087 | +39.5% |
| Other operating charges | 640/8 | - | €417 | +€417 | |
| Gross operating margin | 9900 | €19,298 | €2,061 | -€17,236 | -89.3% |
| Operating profit (loss) | 9901 | €8,962 | -€12,778 | -€21,740 | |
| Financial income | 75/76B | - | €38 | +€38 | |
| Recurring financial income | 75 | - | €38 | +€38 | |
| Financial charges | 65/66B | €437 | €472 | +€34 | +7.9% |
| Recurring financial charges | 65 | €437 | €472 | +€34 | +7.9% |
| Profit (loss) for the period before taxes | 9903 | €8,525 | -€13,212 | -€21,737 | |
| Profit (loss) for the period | 9904 | €8,525 | -€13,212 | -€21,737 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,525 | -€13,212 | -€21,737 |
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 21 October 2026 via checked.be.