diff --git a/cmake/version.cmake b/cmake/version.cmake
index bd4578b74d7..22a186ab9f0 100644
--- a/cmake/version.cmake
+++ b/cmake/version.cmake
@@ -6,8 +6,8 @@ if (EXISTS "${PROJECT_SOURCE_DIR}/version_override.cmake")
     include("${PROJECT_SOURCE_DIR}/version_override.cmake")
 endif()
 
-set_if_not_defined(FSO_VERSION_MAJOR 24)
-set_if_not_defined(FSO_VERSION_MINOR 3)
+set_if_not_defined(FSO_VERSION_MAJOR 25)
+set_if_not_defined(FSO_VERSION_MINOR 1)
 set_if_not_defined(FSO_VERSION_BUILD 0)
 
 # A numeric revision e.g. the CI build number