VertuoRed: 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.
VertuoRed
Largest movements
- Receivables within one year +€101,847
up €101,847 (+447%), from €22,795 to €124,642
of which Trade receivables: +€101,835
- Cash +€52,245
up €52,245 (+37.9%), from €137,794 to €190,040
mainly Net result for the year (+€119,897) and Tax, wage and social debts (+€32,312)
- Tangible fixed assets -€21,038
down €21,038 (-28.5%), from €73,831 to €52,793
of which Furniture and vehicles: -€19,686
- Profit (loss) carried forward +€119,897
up €119,897 (+81.5%), from €147,102 to €266,999
- Tax, wage and social debts +€32,312
up €32,312 (+114%), from €28,252 to €60,563
- Debts after one year -€16,869
down €16,869 (-53.6%), from €31,489 to €14,620
- Gross operating margin +€11,911
up €11,911 (+6.8%), from €175,277 to €187,188
- Taxes +€3,458
up €3,458 (+11.1%), from €31,258 to €34,715
- Depreciation +€2,905
up €2,905 (+11.2%), from €25,929 to €28,835
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 | €234,420 | €368,854 | +€134,434 | +57.3% |
| Fixed assets | 21/28 | €73,831 | €52,793 | -€21,038 | -28.5% |
| Tangible fixed assets | 22/27 | €73,831 | €52,793 | -€21,038 | -28.5% |
| Land and buildings | 22 | €5,418 | €4,858 | -€560 | -10.3% |
| Furniture and vehicles | 24 | €64,638 | €44,952 | -€19,686 | -30.5% |
| Other tangible fixed assets | 26 | €3,775 | €2,983 | -€792 | -21.0% |
| Current assets | 29/58 | €160,589 | €316,061 | +€155,472 | +96.8% |
| Amounts receivable within one year | 40/41 | €22,795 | €124,642 | +€101,847 | +447% |
| Trade receivables | 40 | €22,795 | €124,630 | +€101,835 | +447% |
| Other amounts receivable | 41 | - | €12 | +€12 | |
| Cash at bank and in hand | 54/58 | €137,794 | €190,040 | +€52,245 | +37.9% |
| Deferred charges and accrued income | 490/1 | - | €1,379 | +€1,379 | |
| Total equity and liabilities | 10/49 | €234,420 | €368,854 | +€134,434 | +57.3% |
| Equity | 10/15 | €152,102 | €271,999 | +€119,897 | +78.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €147,102 | €266,999 | +€119,897 | +81.5% |
| Amounts payable | 17/49 | €82,318 | €96,855 | +€14,537 | +17.7% |
| Amounts payable after more than one year | 17 | €31,489 | €14,620 | -€16,869 | -53.6% |
| Financial debts | 170/4 | €31,489 | €14,620 | -€16,869 | -53.6% |
| Amounts payable within one year | 42/48 | €50,829 | €82,209 | +€31,380 | +61.7% |
| Current portion of amounts payable after more than one year | 42 | €16,162 | €16,869 | +€707 | +4.4% |
| Financial debts | 43 | - | €782 | +€782 | |
| Credit institutions | 430/8 | - | €782 | +€782 | |
| Trade debts | 44 | €5,980 | €3,995 | -€1,986 | -33.2% |
| Suppliers | 440/4 | €5,980 | €3,995 | -€1,986 | -33.2% |
| Taxes, remuneration and social security | 45 | €28,252 | €60,563 | +€32,312 | +114% |
| Taxes | 450/3 | €28,252 | €60,563 | +€32,312 | +114% |
| Other amounts payable | 47/48 | €435 | - | -€435 | |
| Accrued charges and deferred income | 492/3 | - | €26 | +€26 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,929 | €28,835 | +€2,905 | +11.2% |
| Other operating charges | 640/8 | €980 | €1,518 | +€538 | +54.9% |
| Gross operating margin | 9900 | €175,277 | €187,188 | +€11,911 | +6.8% |
| Operating profit (loss) | 9901 | €148,368 | €156,835 | +€8,468 | +5.7% |
| Financial income | 75/76B | €1 | €30 | +€29 | +4,900% |
| Recurring financial income | 75 | €1 | €30 | +€29 | +4,900% |
| Financial charges | 65/66B | €2,761 | €2,253 | -€508 | -18.4% |
| Recurring financial charges | 65 | €2,761 | €2,253 | -€508 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €145,607 | €154,612 | +€9,005 | +6.2% |
| Income taxes | 67/77 | €31,258 | €34,715 | +€3,458 | +11.1% |
| Profit (loss) for the period | 9904 | €114,350 | €119,897 | +€5,547 | +4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €114,350 | €119,897 | +€5,547 | +4.9% |
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 17 October 2026 via checked.be.