VERTUMNE: 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.
VERTUMNE
Largest movements
- Cash -€48,252
down €48,252 (-68.7%), from €70,243 to €21,991
mainly Receivables within one year (-€32,482) and Investment in fixed assets (net) (-€27,242)
- Receivables within one year +€32,482
up €32,482 (+1180.6%), from €2,751 to €35,233
of which Trade receivables: +€32,485
- Tangible fixed assets +€20,032
up €20,032 (+1544.3%), from €1,297 to €21,329
of which Furniture and vehicles: +€20,925
- Deferred charges and accrued income +€983
up €983 (+166.2%), from €591 to €1,575
- Trade debts +€21,419
up €21,419 (+79.0%), from €27,129 to €48,548
- Profit (loss) carried forward -€17,897
down €17,897, from €9,630 to -€8,267
- Other debts +€16,175
up €16,175 (+260.0%), from €6,221 to €22,396
- Tax, wage and social debts -€14,452
no longer reported in 2025 (was €14,452)
of which Remuneration and social security: -€10,800
- Gross operating margin -€8,601
down €8,601 (-669.7%), from -€1,284 to -€9,885
- Depreciation +€5,467
up €5,467 (+313.8%), from €1,742 to €7,209
- Other operating charges +€210
up €210 (+62.9%), from €334 to €544
- Taxes -€162
down €162, from €152 to -€9
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 | €77,883 | €83,128 | +€5,245 | +6.7% |
| Fixed assets | 21/28 | €1,297 | €21,329 | +€20,032 | +1544.3% |
| Tangible fixed assets | 22/27 | €1,297 | €21,329 | +€20,032 | +1544.3% |
| Plant, machinery and equipment | 23 | €1,225 | €331 | -€893 | -72.9% |
| Furniture and vehicles | 24 | €72 | €20,998 | +€20,925 | +28898.4% |
| Current assets | 29/58 | €76,585 | €61,799 | -€14,787 | -19.3% |
| Amounts receivable within one year | 40/41 | €2,751 | €35,233 | +€32,482 | +1180.6% |
| Trade receivables | 40 | €1,882 | €34,368 | +€32,485 | +1725.8% |
| Other amounts receivable | 41 | €869 | €865 | -€4 | -0.4% |
| Current investments | 50/53 | €3,000 | €3,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €70,243 | €21,991 | -€48,252 | -68.7% |
| Deferred charges and accrued income | 490/1 | €591 | €1,575 | +€983 | +166.2% |
| Total equity and liabilities | 10/49 | €77,883 | €83,128 | +€5,245 | +6.7% |
| Equity | 10/15 | €30,081 | €12,184 | -€17,897 | -59.5% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €14,254 | €14,254 | = | 0.0% |
| Distributable reserves | 133 | €14,254 | €14,254 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,630 | -€8,267 | -€17,897 | |
| Amounts payable | 17/49 | €47,801 | €70,943 | +€23,142 | +48.4% |
| Amounts payable within one year | 42/48 | €47,801 | €70,943 | +€23,142 | +48.4% |
| Trade debts | 44 | €27,129 | €48,548 | +€21,419 | +79.0% |
| Suppliers | 440/4 | €27,129 | €48,548 | +€21,419 | +79.0% |
| Taxes, remuneration and social security | 45 | €14,452 | - | -€14,452 | |
| Taxes | 450/3 | €3,652 | - | -€3,652 | |
| Remuneration and social security | 454/9 | €10,800 | - | -€10,800 | |
| Other amounts payable | 47/48 | €6,221 | €22,396 | +€16,175 | +260.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,742 | €7,209 | +€5,467 | +313.8% |
| Other operating charges | 640/8 | €334 | €544 | +€210 | +62.9% |
| Gross operating margin | 9900 | -€1,284 | -€9,885 | -€8,601 | -669.7% |
| Operating profit (loss) | 9901 | -€3,361 | -€17,638 | -€14,278 | -424.8% |
| Financial charges | 65/66B | €280 | €268 | -€12 | -4.3% |
| Recurring financial charges | 65 | €280 | €268 | -€12 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | -€3,640 | -€17,906 | -€14,266 | -391.9% |
| Income taxes | 67/77 | €152 | -€9 | -€162 | |
| Profit (loss) for the period | 9904 | -€3,793 | -€17,897 | -€14,104 | -371.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,793 | -€17,897 | -€14,104 | -371.9% |
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 9 October 2026 via checked.be.