VERTUOSE: 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.
VERTUOSE
Largest movements
- Receivables within one year -€60,255
down €60,255 (-25.6%), from €235,326 to €175,071
of which Trade receivables: -€67,894
- Cash +€17,142
up €17,142 (+4174.8%), from €411 to €17,552
mainly Receivables within one year (+€60,255) and Net result for the year (+€22,252)
- Tangible fixed assets -€2,779
down €2,779 (-11.9%), from €23,324 to €20,544
- Trade debts -€78,218
down €78,218 (-35.1%), from €223,072 to €144,854
- Profit (loss) carried forward +€22,252
up €22,252, from -€7,468 to €14,783
- Other debts +€10,504
up €10,504 (+32.1%), from €32,691 to €43,196
- Purchases and services -€223,520
down €223,520 (-33.1%), from €674,475 to €450,955
- Turnover -€213,645
down €213,645 (-30.4%), from €703,279 to €489,634
- Staff costs -€14,098
no longer reported in 2024 (was €14,098)
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €266,285 | €220,823 | -€45,462 | -17.1% |
| Fixed assets | 21/28 | €29,983 | €27,204 | -€2,779 | -9.3% |
| Intangible fixed assets | 21 | €1,600 | €1,600 | = | 0.0% |
| Tangible fixed assets | 22/27 | €23,324 | €20,544 | -€2,779 | -11.9% |
| Furniture and vehicles | 24 | €23,324 | €20,544 | -€2,779 | -11.9% |
| Financial fixed assets | 28 | €5,059 | €5,059 | = | 0.0% |
| Current assets | 29/58 | €236,302 | €193,619 | -€42,683 | -18.1% |
| Amounts receivable within one year | 40/41 | €235,326 | €175,071 | -€60,255 | -25.6% |
| Trade receivables | 40 | €201,628 | €133,734 | -€67,894 | -33.7% |
| Other amounts receivable | 41 | €33,698 | €41,337 | +€7,639 | +22.7% |
| Cash at bank and in hand | 54/58 | €411 | €17,552 | +€17,142 | +4174.8% |
| Deferred charges and accrued income | 490/1 | €566 | €996 | +€430 | +76.1% |
| Total equity and liabilities | 10/49 | €266,285 | €220,823 | -€45,462 | -17.1% |
| Equity | 10/15 | €10,522 | €32,773 | +€22,252 | +211.5% |
| Contributions | 10/11 | €17,990 | €17,990 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,468 | €14,783 | +€22,252 | |
| Amounts payable | 17/49 | €255,763 | €188,050 | -€67,714 | -26.5% |
| Amounts payable within one year | 42/48 | €255,763 | €188,050 | -€67,714 | -26.5% |
| Trade debts | 44 | €223,072 | €144,854 | -€78,218 | -35.1% |
| Suppliers | 440/4 | €223,072 | €144,854 | -€78,218 | -35.1% |
| Other amounts payable | 47/48 | €32,691 | €43,196 | +€10,504 | +32.1% |
| Turnover | 70 | €703,279 | €489,634 | -€213,645 | -30.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €674,475 | €450,955 | -€223,520 | -33.1% |
| Remuneration, social security and pensions | 62 | €14,098 | - | -€14,098 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,522 | €6,471 | -€2,051 | -24.1% |
| Other operating charges | 640/8 | €2,881 | €5,034 | +€2,153 | +74.7% |
| Non-recurring operating charges | 66A | €946 | €274 | -€673 | -71.1% |
| Gross operating margin | 9900 | €32,076 | €38,679 | +€6,603 | +20.6% |
| Operating profit (loss) | 9901 | €5,629 | €26,900 | +€21,271 | +377.9% |
| Financial charges | 65/66B | €40 | €94 | +€55 | +136.5% |
| Recurring financial charges | 65 | €40 | €94 | +€55 | +136.5% |
| Profit (loss) for the period before taxes | 9903 | €5,589 | €26,806 | +€21,217 | +379.6% |
| Income taxes | 67/77 | - | €4,554 | +€4,554 | |
| Profit (loss) for the period | 9904 | €5,589 | €22,252 | +€16,663 | +298.1% |
| Profit (loss) for the period to be appropriated | 9905 | €5,589 | €22,252 | +€16,663 | +298.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.