VERSCHURE: what changed
What changed
VERSCHURE
filed annual accounts (NBB)
Net result for the year
-€10,067
2024 · -€13,935+€3,868
Equity
€861,826
2024 · €871,893-€10,067
Cash
€54,279
2024 · €89,076-€34,797
Balance sheet total
€4.9m
2024 · €4.6m+€326,313
Largest movements
Assets
- Receivables within one year +€230,046
up €230,046 (+10.4%), from €2.2m to €2.4m
of which Other amounts receivable: +€230,046
- Stocks and contracts +€118,782
up €118,782 (+11.4%), from €1.0m to €1.2m
Equity and liabilities
- Short-term financial debts +€229,185
up €229,185 (+41.6%), from €550,815 to €780,000
- Trade debts +€85,851
up €85,851 (+396%), from €21,696 to €107,548
Income statement
- Gross operating margin -€61,719
down €61,719 (-59.5%), from €103,682 to €41,963
- Other operating charges -€25,914
down €25,914 (-71.2%), from €36,410 to €10,496
- Financial income +€23,471
up €23,471 (+35.2%), from €66,704 to €90,176
- Financial charges -€17,689
down €17,689 (-15.1%), from €117,006 to €99,318
- Depreciation +€1,487
up €1,487 (+3.9%), from €38,089 to €39,576
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€13,935
Gross operating margin
-€61,719
Depreciation
-€1,487
Other operating charges
+€25,914
Financial income
+€23,471
Financial charges
+€17,689
Result 2025
-€10,067
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€171,254
Investment
-€46,000
Financing
+€182,457
Cash 2024
€89,076
From operations (derived)
-€171,254
Net result for the year
-€10,067
Depreciation
+€39,576
Stocks and contracts
-€118,782
Receivables within one year
-€230,046
Deferred charges and accrued income
-€5,859
Provisions
-€7,185
Trade debts
+€85,851
Other debts
+€34,277
Accrued charges and deferred income
+€40,980
Investment (derived)
-€46,000
Investment in fixed assets (net)
-€46,000
Financing
+€182,457
Debts after one year
-€48,098
Current portion of long-term debt
+€1,370
Short-term financial debts
+€229,185
Cash 2025
€54,279
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,610,061 | €4,936,374 | +€326,313 | +7.1% |
| Fixed assets | 21/28 | €1,268,566 | €1,274,990 | +€6,424 | +0.5% |
| Tangible fixed assets | 22/27 | €1,268,566 | €1,274,990 | +€6,424 | +0.5% |
| Land and buildings | 22 | €434,982 | €420,225 | -€14,757 | -3.4% |
| Furniture and vehicles | 24 | €3,597 | €47,888 | +€44,291 | +1,231% |
| Other tangible fixed assets | 26 | €829,988 | €806,877 | -€23,111 | -2.8% |
| Current assets | 29/58 | €3,341,494 | €3,661,384 | +€319,889 | +9.6% |
| Stocks and contracts in progress | 3 | €1,044,222 | €1,163,003 | +€118,782 | +11.4% |
| Stocks | 30/36 | €1,044,222 | €1,163,003 | +€118,782 | +11.4% |
| Amounts receivable within one year | 40/41 | €2,207,001 | €2,437,047 | +€230,046 | +10.4% |
| Trade receivables | 40 | €4,000 | €4,000 | = | 0.0% |
| Other amounts receivable | 41 | €2,203,001 | €2,433,047 | +€230,046 | +10.4% |
| Cash at bank and in hand | 54/58 | €89,076 | €54,279 | -€34,797 | -39.1% |
| Deferred charges and accrued income | 490/1 | €1,195 | €7,054 | +€5,859 | +490% |
| Total equity and liabilities | 10/49 | €4,610,061 | €4,936,374 | +€326,313 | +7.1% |
| Equity | 10/15 | €871,893 | €861,826 | -€10,067 | -1.2% |
| Contributions | 10/11 | €160,000 | €160,000 | = | 0.0% |
| Capital | 10 | €160,000 | €160,000 | = | 0.0% |
| Issued capital | 100 | €160,000 | €160,000 | = | 0.0% |
| Reserves | 13 | €711,893 | €701,826 | -€10,067 | -1.4% |
| Non-distributable reserves | 130/1 | €16,000 | €16,000 | = | 0.0% |
| Legal reserve | 130 | €16,000 | €16,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €350,975 | €334,443 | -€16,532 | -4.7% |
| Distributable reserves | 133 | €344,917 | €351,383 | +€6,465 | +1.9% |
| Provisions and deferred taxes | 16 | €152,176 | €144,991 | -€7,185 | -4.7% |
| Deferred taxes | 168 | €152,176 | €144,991 | -€7,185 | -4.7% |
| Amounts payable | 17/49 | €3,585,992 | €3,929,557 | +€343,565 | +9.6% |
| Amounts payable after more than one year | 17 | €473,539 | €425,442 | -€48,098 | -10.2% |
| Financial debts | 170/4 | €473,539 | €425,442 | -€48,098 | -10.2% |
| Amounts payable within one year | 42/48 | €2,717,670 | €3,068,353 | +€350,683 | +12.9% |
| Current portion of amounts payable after more than one year | 42 | €446,728 | €448,098 | +€1,370 | +0.3% |
| Financial debts | 43 | €550,815 | €780,000 | +€229,185 | +41.6% |
| Credit institutions | 430/8 | €550,815 | €780,000 | +€229,185 | +41.6% |
| Trade debts | 44 | €21,696 | €107,548 | +€85,851 | +396% |
| Suppliers | 440/4 | €21,696 | €107,548 | +€85,851 | +396% |
| Other amounts payable | 47/48 | €1,698,431 | €1,732,707 | +€34,277 | +2.0% |
| Accrued charges and deferred income | 492/3 | €394,783 | €435,763 | +€40,980 | +10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,089 | €39,576 | +€1,487 | +3.9% |
| Other operating charges | 640/8 | €36,410 | €10,496 | -€25,914 | -71.2% |
| Gross operating margin | 9900 | €103,682 | €41,963 | -€61,719 | -59.5% |
| Operating profit (loss) | 9901 | €29,183 | -€8,110 | -€37,292 | |
| Financial income | 75/76B | €66,704 | €90,176 | +€23,471 | +35.2% |
| Recurring financial income | 75 | €66,704 | €90,176 | +€23,471 | +35.2% |
| Financial charges | 65/66B | €117,006 | €99,318 | -€17,689 | -15.1% |
| Recurring financial charges | 65 | €117,006 | €99,318 | -€17,689 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | -€21,119 | -€17,252 | +€3,868 | +18.3% |
| Transfer from deferred taxes | 780 | €7,185 | €7,185 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€13,935 | -€10,067 | +€3,868 | +27.8% |
| Transfer from tax-exempt reserves | 789 | €16,532 | €16,532 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,598 | €6,465 | +€3,868 | +149% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.