Vertuwo: 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.
Vertuwo
Largest movements
- Current investments -€619,026
down €619,026 (-75.2%), from €823,211 to €204,185
- Receivables within one year -€36,300
no longer reported in 2025 (was €36,300)
- Other debts -€650,000
down €650,000 (-86.7%), from €750,000 to €100,000
- Profit (loss) carried forward -€11,975
down €11,975 (-11.5%), from €103,958 to €91,983
- Gross operating margin +€59,658
up €59,658 (+19.4%), from €307,547 to €367,205
- Taxes +€13,329
up €13,329 (+17.5%), from €76,321 to €89,650
- Financial income -€6,494
down €6,494 (-37.0%), from €17,541 to €11,047
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 | €881,980 | €221,415 | -€660,565 | -74.9% |
| Fixed assets | 21/28 | €1 | - | -€1 | |
| Tangible fixed assets | 22/27 | €1 | - | -€1 | |
| Furniture and vehicles | 24 | €1 | - | -€1 | |
| Current assets | 29/58 | €881,979 | €221,415 | -€660,564 | -74.9% |
| Amounts receivable within one year | 40/41 | €36,300 | - | -€36,300 | |
| Trade receivables | 40 | €36,300 | - | -€36,300 | |
| Current investments | 50/53 | €823,211 | €204,185 | -€619,026 | -75.2% |
| Cash at bank and in hand | 54/58 | €21,790 | €16,460 | -€5,330 | -24.5% |
| Deferred charges and accrued income | 490/1 | €678 | €769 | +€92 | +13.6% |
| Total equity and liabilities | 10/49 | €881,980 | €221,415 | -€660,565 | -74.9% |
| Equity | 10/15 | €106,958 | €94,983 | -€11,975 | -11.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €103,958 | €91,983 | -€11,975 | -11.5% |
| Amounts payable | 17/49 | €775,022 | €126,432 | -€648,590 | -83.7% |
| Amounts payable within one year | 42/48 | €775,022 | €126,432 | -€648,590 | -83.7% |
| Trade debts | 44 | €3,081 | €3,248 | +€166 | +5.4% |
| Suppliers | 440/4 | €3,081 | €3,248 | +€166 | +5.4% |
| Taxes, remuneration and social security | 45 | €21,941 | €23,185 | +€1,243 | +5.7% |
| Taxes | 450/3 | €21,941 | €23,185 | +€1,243 | +5.7% |
| Other amounts payable | 47/48 | €750,000 | €100,000 | -€650,000 | -86.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63 | €1 | -€62 | -98.1% |
| Other operating charges | 640/8 | €568 | €544 | -€24 | -4.2% |
| Gross operating margin | 9900 | €307,547 | €367,205 | +€59,658 | +19.4% |
| Operating profit (loss) | 9901 | €306,916 | €366,660 | +€59,744 | +19.5% |
| Financial income | 75/76B | €17,541 | €11,047 | -€6,494 | -37.0% |
| Recurring financial income | 75 | €17,541 | €11,047 | -€6,494 | -37.0% |
| Financial charges | 65/66B | €31 | €32 | +€0 | +1.4% |
| Recurring financial charges | 65 | €31 | €32 | +€0 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | €324,425 | €377,675 | +€53,249 | +16.4% |
| Income taxes | 67/77 | €76,321 | €89,650 | +€13,329 | +17.5% |
| Profit (loss) for the period | 9904 | €248,105 | €288,025 | +€39,920 | +16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €248,105 | €288,025 | +€39,920 | +16.1% |
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 14 October 2026 via checked.be.