VRSTN: 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.
VRSTN
Largest movements
- Cash -€95,277
down €95,277 (-83.4%), from €114,242 to €18,965
mainly Investment in fixed assets (net) (-€85,000) and Net result for the year (-€65,906)
- Financial fixed assets +€85,000
up €85,000 (+17.7%), from €480,000 to €565,000
- Receivables within one year +€13,787
up €13,787 (+47.0%), from €29,361 to €43,148
of which Trade receivables: +€14,067
- Profit (loss) carried forward -€65,906
down €65,906 (-305.1%), from -€21,602 to -€87,507
- Debts after one year +€56,634
up €56,634 (+8.9%), from €639,375 to €696,009
of which Financial debts: +€56,634
- Accrued charges and deferred income +€8,381
up €8,381 (+117.9%), from €7,108 to €15,488
- Financial charges +€27,016
up €27,016 (+68.3%), from €39,536 to €66,552
- Financial income -€8,246
down €8,246 (-62.6%), from €13,171 to €4,926
- Gross operating margin -€110
down €110 (-2.9%), from -€3,770 to -€3,880
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 | €638,797 | €637,521 | -€1,276 | -0.2% |
| Fixed assets | 21/28 | €480,000 | €565,000 | +€85,000 | +17.7% |
| Financial fixed assets | 28 | €480,000 | €565,000 | +€85,000 | +17.7% |
| Current assets | 29/58 | €158,797 | €72,521 | -€86,276 | -54.3% |
| Amounts receivable within one year | 40/41 | €29,361 | €43,148 | +€13,787 | +47.0% |
| Trade receivables | 40 | €28,991 | €43,058 | +€14,067 | +48.5% |
| Other amounts receivable | 41 | €370 | €90 | -€280 | -75.7% |
| Cash at bank and in hand | 54/58 | €114,242 | €18,965 | -€95,277 | -83.4% |
| Deferred charges and accrued income | 490/1 | €15,194 | €10,408 | -€4,786 | -31.5% |
| Total equity and liabilities | 10/49 | €638,797 | €637,521 | -€1,276 | -0.2% |
| Equity | 10/15 | -€8,602 | -€74,507 | -€65,906 | -766.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €600 | €600 | = | 0.0% |
| Distributable reserves | 133 | €600 | €600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,602 | -€87,507 | -€65,906 | -305.1% |
| Amounts payable | 17/49 | €647,398 | €712,028 | +€64,630 | +10.0% |
| Amounts payable after more than one year | 17 | €639,375 | €696,009 | +€56,634 | +8.9% |
| Financial debts | 170/4 | €539,375 | €596,009 | +€56,634 | +10.5% |
| Other amounts payable | 178/9 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €916 | €530 | -€385 | -42.1% |
| Trade debts | 44 | €385 | - | -€385 | |
| Suppliers | 440/4 | €385 | - | -€385 | |
| Other amounts payable | 47/48 | €530 | €530 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €7,108 | €15,488 | +€8,381 | +117.9% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€3,770 | -€3,880 | -€110 | -2.9% |
| Operating profit (loss) | 9901 | -€4,157 | -€4,280 | -€123 | -2.9% |
| Financial income | 75/76B | €13,171 | €4,926 | -€8,246 | -62.6% |
| Recurring financial income | 75 | €13,171 | €4,926 | -€8,246 | -62.6% |
| Financial charges | 65/66B | €39,536 | €66,552 | +€27,016 | +68.3% |
| Recurring financial charges | 65 | €39,536 | €66,552 | +€27,016 | +68.3% |
| Profit (loss) for the period before taxes | 9903 | -€30,522 | -€65,906 | -€35,384 | -115.9% |
| Profit (loss) for the period | 9904 | -€30,522 | -€65,906 | -€35,384 | -115.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,522 | -€65,906 | -€35,384 | -115.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.