Vermanic (0425.475.652): financials and annual accounts

Vermanic

Ghent ·KBO/BCE: BE 0425.475.652

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Balance sheet: assets
Total assets`20/58`	4.8m	4.5m	4.8m	4.8m	4.8m	4.8m	4.7m	4.7m	4.8m	4.8m	4.7m	4.7m	4.7m	4.8m	2.0m	1.9m	1.8m	1.6m	1.4m	1.4m
Formation expenses`20`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,718	3,718	3,718	3,718	3,718	3,719
Fixed assets`21/28`	4.6m	4.4m	4.6m	4.6m	4.7m	4.5m	4.6m	4.6m	4.7m	4.8m	4.7m	4.7m	4.7m	4.7m	2.0m	1.8m	1.6m	1.4m	1.4m	1.4m
Tangible fixed assets`22/27`	4.6m	4.4m	4.6m	4.6m	4.7m	4.5m	4.6m	4.6m	4.7m	4.8m	4.7m	4.7m	4.7m	4.7m	2.0m	1.8m	1.6m	1.4m	1.4m	1.4m
Land and buildings`22`	4.6m	4.4m	4.6m	4.6m	4.7m	4.5m	4.6m	4.6m	4.7m	4.7m	4.7m	4.7m	4.7m	4.7m	2.0m	1.0m	1.2m	1.3m	1.3m	1.4m
Plant, machinery and equipment`23`	-	-	-	-	-	-	-	-	-	-	-	-	-	253	570	950	337	675	1,896	3,146
Furniture and vehicles`24`	0	1,459	3,359	8,683	8,758	14,091	-	8,600	17,200	25,800	34,400	-	-	-	0	606	2,940	3,830	846	792
Assets under construction and advance payments`27`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	38,000	777,598	470,265	97,108	4,665	4,665
Financial fixed assets`28`	-	-	0	4,250	250	250	250	250	250	250	250	250	250	250	-	-	-	-	-	-
Current assets`29/58`	206,325	94,086	277,402	206,574	56,735	238,157	125,181	124,689	97,784	13,245	22,582	13,790	27,634	24,156	3,009	126,735	137,774	221,156	6,742	25,701
Amounts receivable within one year`40/41`	1,851	-	-	-	-	-	-	6	-	10,000	15,000	5,003	5,003	8,886	640	81,618	777	-	-	-
Trade receivables`40`	1,500	-	-	-	-	-	-	6	-	10,000	15,000	5,000	5,000	8,700	-	81,000	-	-	-	-
Other amounts receivable`41`	351	-	-	-	-	-	-	-	-	-	-	3	3	186	640	618	777	-	-	-
Current investments`50/53`	-	-	-	-	-	-	-	-	-	-	-	-	62	62	58	3,058	122,192	207,577	-	-
Cash at bank and in hand`54/58`	204,474	93,361	275,789	206,574	56,735	238,157	123,936	119,602	93,908	3,245	34	7,538	13,818	14,278	758	42,059	12,454	11,870	5,470	664
Deferred charges and accrued income`490/1`	0	725	1,614	-	-	-	1,245	5,081	3,876	-	7,547	1,249	8,751	930	1,553	-	2,351	1,708	1,272	25,037
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	4.8m	4.5m	4.8m	4.8m	4.8m	4.8m	4.7m	4.7m	4.8m	4.8m	4.7m	4.7m	4.7m	4.8m	2.0m	1.9m	1.8m	1.6m	1.4m	1.4m
Equity`10/15`	3.9m	3.8m	3.9m	3.8m	3.8m	3.8m	3.7m	3.7m	3.7m	3.7m	3.6m	3.6m	3.6m	3.7m	873,578	871,782	945,324	968,640	1.0m	1.1m
Contributions`10/11`	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m
Capital`10`	1.0m	1.0m	1.0m	1.0m	1.0m	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issued capital`100`	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m
Revaluation surpluses`12`	2.8m	2.8m	2.8m	2.8m	2.8m	2.8m	2.8m	2.8m	2.8m	2.8m	2.8m	2.8m	2.8m	2.8m	-	-	-	-	-	-
Reserves`13`	49,762	10,759	60,014	15,153	26,151	26,151	26,151	26,151	26,151	26,151	26,151	26,151	26,151	26,151	47,041	48,347	49,652	50,958	52,264	53,570
Non-distributable reserves`130/1`	12,430	10,430	10,430	8,154	8,154	8,154	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	12,430	10,430	10,430	8,154	8,154	8,154	8,154	8,154	8,154	8,154	8,154	8,154	8,154	8,154	8,154	8,154	8,154	8,154	8,154	8,154
Tax-exempt reserves`132`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20,890	22,195	23,501	24,807	26,112	27,419
Distributable reserves`133`	37,332	329	49,584	6,999	17,998	17,998	17,998	17,998	17,998	17,998	17,998	17,997	17,998	17,997	17,998	17,998	17,998	17,998	17,998	17,997
Profit (loss) carried forward`14`	-	-	-	0	-65,597	-33,672	-103,105	-110,115	-130,129	-161,571	-194,906	-224,590	-212,272	-177,924	-216,464	-219,565	-147,328	-125,318	-70,916	-25,199
Provisions and deferred taxes`16`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,757	11,429	12,101	12,774	13,446	14,118
Deferred taxes`168`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,757	11,429	12,101	12,774	13,446	14,118
Amounts payable`17/49`	923,176	700,713	967,164	1.0m	983,218	981,025	991,321	1.0m	1.1m	1.1m	1.1m	1.1m	1.1m	1.1m	1.1m	1.1m	808,197	642,144	326,670	328,193
Amounts payable after more than one year`17`	840,725	685,725	935,725	935,725	938,715	937,990	937,990	937,990	920,713	946,203	979,773	1.0m	1.0m	958,234	937,987	848,892	714,555	571,250	275,270	282,584
Financial debts`170/4`	835,000	685,000	935,000	935,000	935,000	935,000	935,000	935,000	915,923	939,663	973,233	1.0m	1.0m	836,542	836,542	776,542	656,542	-	22,917	47,917
Other amounts payable`178/9`	5,725	725	725	725	3,715	2,990	2,990	2,990	4,790	6,540	6,540	5,600	5,600	121,692	101,445	72,350	58,013	571,250	252,353	234,667
Amounts payable within one year`42/48`	78,812	11,025	27,724	62,151	39,316	38,064	47,629	68,924	128,382	132,146	105,956	73,067	78,925	42,903	101,246	126,536	33,468	48,171	33,955	32,256
Current portion of amounts payable after more than one year`42`	-	-	-	-	-	-	-	5,923	58,740	58,570	58,403	50,000	50,000	-	-	-	-	22,917	25,000	25,000
Financial debts`43`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,120
Credit institutions`430/8`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,120
Trade debts`44`	66,982	333	553	41,092	1,583	1,311	1,719	736	5,347	15,359	9,052	10,558	28,925	42,903	59,246	84,536	22,849	21,255	5,949	1,186
Suppliers`440/4`	66,982	333	553	41,092	1,583	1,311	1,719	736	5,347	15,359	9,052	10,558	28,925	42,903	59,246	84,536	22,849	21,255	5,949	1,186
Advances received on contracts in progress`46`	-	-	-	-	-	-	3,632	-	-	-	-	-	-	-	-	-	-	-	-	-
Taxes, remuneration and social security`45`	77	77	176	149	291	314	169	165	181	-	-	-	-	-	42,000	42,000	10,619	3,999	3,006	3,950
Taxes`450/3`	77	77	176	149	291	314	169	165	181	-	-	-	-	-	42,000	42,000	10,619	3,999	3,006	2,469
Remuneration and social security`454/9`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,481
Other amounts payable`47/48`	11,754	10,615	26,994	20,909	37,442	36,439	42,109	62,100	64,113	58,218	38,502	12,509	-	-	-	-	-	-	-	-
Accrued charges and deferred income`492/3`	3,639	3,963	3,715	11,799	5,187	4,970	5,701	9,715	11,885	9,112	1,605	-	4,460	103,245	105,234	87,423	60,174	22,723	17,445	13,353
Income statement
Non-recurring operating income`76A`	-	-	-	-	-	-	-	-	-	-	-	-	19,754	-	-	21,862	38,277	18,307	-	-
Gross operating margin`9900`	150,262	156,518	161,018	163,594	155,218	170,297	107,360	183,611	132,192	126,531	121,216	84,224	82,008	96,769	143,398	7,365	22,061	42,384	38,214	56,192
Remuneration, social security and pensions`62`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,484
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	85,981	78,275	85,675	85,670	101,943	79,339	85,588	78,909	79,578	78,425	76,396	65,429	67,124	64,562	70,524	40,108	39,970	46,253	48,193	45,684
Other operating charges`640/8`	21,269	24,768	30,001	21,335	28,834	21,372	14,549	15,672	19,662	12,646	12,403	13,779	66,706	11,655	7,174	11,257	7,307	7,365	12,395	9,128
Non-recurring operating charges`66A`	0	102,311	-	0	55,781	-	-	68,302	-	-	-	13,250	-	13,514	-	-	-	34,588	-	-
Operating profit (loss)`9901`	43,012	-48,837	45,342	56,588	-31,339	69,587	7,222	20,727	32,951	35,461	32,418	5,016	-51,822	20,552	65,700	-44,000	-25,216	-11,234	-22,374	-6,104
Financial income`75/76B`	1,305	298	430	0	1	1	1	1	12	5	0	19	259	189	198	1,806	7,971	8	5	14
Recurring financial income`75`	1,305	298	430	0	1	1	1	1	12	5	0	19	259	189	198	1,806	7,971	8	5	14
Financial charges`65/66B`	5,273	550	756	1,841	441	9	44	549	1,340	2,132	2,734	4,102	2,538	334	64,775	59,446	45,020	28,872	25,326	16,497
Recurring financial charges`65`	5,273	550	756	1,841	441	9	44	549	1,340	2,132	2,734	4,102	2,538	334	64,775	59,446	45,020	28,872	25,326	16,497
Profit (loss) for the period before taxes`9903`	39,044	-49,089	45,016	54,748	-31,779	69,579	7,179	20,179	31,624	33,334	29,684	-12,317	-34,348	6,893	1,123	-79,777	-23,988	-56,379	-47,696	-22,587
Income taxes`67/77`	41	166	156	149	146	145	169	165	181	-	-	1	-	-	-	-5,563	-	1	-	-86
Profit (loss) for the period`9904`	39,003	-49,255	44,861	54,598	-31,925	69,433	7,010	20,014	31,443	33,334	29,684	-12,318	-34,348	17,650	1,795	-73,542	-23,316	-55,707	-47,023	-21,829
Transfer from tax-exempt reserves`789`	-	-	-	-	-	-	-	-	-	-	-	-	-	20,890	1,306	1,306	1,306	1,306	1,306	1,305
Profit (loss) for the period to be appropriated`9905`	39,003	-49,255	44,861	54,598	-31,925	69,433	7,010	20,014	31,443	33,334	29,684	-12,318	-34,348	38,540	3,101	-72,237	-22,010	-54,402	-45,718	-20,524
Appropriation of the result
Profit (loss) to be appropriated`9906`	39,003	-49,255	44,861	-10,998	-65,597	-33,672	-103,105	-110,115	-130,129	-161,571	-194,906	-224,590	-212,272	-177,924	-216,464	-219,565	-147,328	-125,318	-70,916	-25,199
Profit (loss) brought forward from the previous period`14P`	-	-	0	-65,597	-33,672	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer from equity`791/2`	0	49,255	0	10,998	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer to equity`691/2`	39,003	0	44,861	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
To the legal reserve`6920`	2,000	0	2,276	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
To other reserves`6921`	37,003	0	42,584	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Social balance sheet
Average staff (FTE)`9087`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.5
Hours worked`1013`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	683
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Financial year	Type	Filed	Reference	Document
31-12-2025	abbreviated format	21-09-2026	2026-00519823	PDF
31-12-2024	micro format	10-06-2025	2025-00129608	PDF
31-12-2023	micro format	09-07-2024	2024-00228727	PDF
31-12-2022	micro format	09-06-2023	2023-00128691	PDF
31-12-2021	micro format	07-06-2022	2022-20062174	PDF
31-12-2020	micro format	10-06-2021	2021-19200416	PDF
31-12-2019	micro format	18-08-2020	2020-41900596	PDF
31-12-2018	micro format	30-08-2019	2019-59600230	PDF
31-12-2017	micro format	06-06-2018	2018-17000175	PDF
31-12-2016	micro format	25-07-2017	2017-36900066	PDF
31-12-2015	abbreviated format	16-06-2016	2016-19400343	PDF
31-12-2014	abbreviated format	21-08-2015	2015-47700082	PDF
31-12-2013	abbreviated format	30-09-2014	2014-62200171	PDF
31-12-2012	abbreviated format	23-08-2013	2013-47500503	PDF
31-12-2011	abbreviated format	31-08-2012	2012-55400322	PDF
31-12-2010	abbreviated format	31-08-2011	2011-50500123	PDF
31-12-2009	abbreviated format	28-07-2010	2010-35800519	PDF
31-12-2008	abbreviated format	29-12-2009	2009-91300389	PDF
31-12-2007	abbreviated format	20-06-2008	2008-26300239	PDF
31-12-2006	abbreviated format	30-08-2007	2007-67600041	PDF
31-12-2005	abbreviated format	15-12-2006	2006-91104528	PDF
31-12-2004	abbreviated format	30-09-2005	2005-79605330	PDF
31-12-2003	abbreviated format	21-09-2004	2004-65601813	PDF
31-12-2002	abbreviated format	30-09-2003	2003-70302890	PDF
31-12-2001	abbreviated format	31-07-2002	2002-44701813	PDF
31-12-2000	abbreviated format	14-06-2001	2001-21501771	PDF
31-12-1999	abbreviated format	28-09-2000	2000-59603195	PDF
31-12-1998	abbreviated format	07-07-1999	1999-31204331	PDF
31-12-1997	abbreviated format	04-09-1998	1998-45004901	PDF
31-12-1996	abbreviated format	24-06-1997	1997-19704779	PDF
31-12-1995	abbreviated format	28-06-1996	1996-27603328	PDF
31-12-1994	abbreviated format	17-07-1995	1995-40303246	PDF
31-12-1993	abbreviated format	06-07-1994	1994-26504842	PDF
31-12-1992	abbreviated format	25-10-1993	1993-40903378	PDF
31-12-1991	abbreviated format	02-09-1992	1992-30304612	PDF
31-12-1990	abbreviated format	23-12-1991	1991-33701885	PDF
31-12-1989	abbreviated format	13-06-1990	1990-08404514	PDF
31-12-1988	abbreviated format	03-08-1989	1989-19501953	PDF
31-12-1987	abbreviated format	22-09-1988	1988-20900083	PDF
31-12-1986	abbreviated format	07-09-1987	1987-21303255	PDF
31-12-1985	abbreviated format	29-08-1986	1986-36500975	PDF
31-12-1984	full format	31-07-1985	1985-28300965	PDF

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
EBITDA	128,993	29,439	131,017	142,259	70,604	148,925	92,810	99,636	112,529	113,885	108,813	70,445	15,302	85,114	136,224	-3,891	14,754	35,019	25,819	39,580
Cash flow	124,984	29,020	130,536	140,269	70,018	148,772	92,598	98,922	111,020	111,759	106,080	53,111	32,776	82,212	72,320	-33,434	16,654	-9,454	1,170	23,855
Investment in fixed assets (approximation)	235,209	11,452	21,446	16,887	309,413	25,500	66,797	27,667	0	121,223	105,956	25,661	67,340	23,736	276,989	509,725	384,305	97,627	17,934	144,038
Change in cash	111,114	-182,428	69,215	149,838	-181,421	114,221	4,334	25,694	90,663	3,210	-7,504	-6,280	-460	13,520	-41,302	29,605	583	6,401	4,806	-
Working capital	127,512	83,060	249,678	144,422	17,419	200,092	77,551	55,764	-30,598	-118,901	-83,375	-59,277	-51,291	-18,747	-98,238	199	104,306	172,985	-27,213	-6,555
Solvency	80.7%	84.5%	80.0%	79.1%	79.3%	79.5%	79.0%	78.6%	77.8%	77.2%	77.0%	77.0%	76.4%	76.8%	43.1%	44.8%	53.5%	59.7%	75.1%	75.8%
Current ratio	2.62	8.53	10.01	3.32	1.44	6.26	2.63	1.81	0.76	0.10	0.21	0.19	0.35	0.56	0.03	1.00	4.12	4.59	0.20	0.80
Debt to equity	0.24	0.18	0.25	0.26	0.26	0.26	0.27	0.27	0.29	0.30	0.30	0.30	0.31	0.30	1.31	1.22	0.85	0.66	0.32	0.31
ROE	1.0%	-1.3%	1.2%	1.4%	-0.8%	1.8%	0.2%	0.5%	0.8%	0.9%	0.8%	-0.3%	-0.9%	0.5%	0.2%	-8.4%	-2.5%	-5.8%	-4.6%	-2.0%
ROA	0.8%	-1.1%	0.9%	1.1%	-0.7%	1.5%	0.1%	0.4%	0.7%	0.7%	0.6%	-0.3%	-0.7%	0.4%	0.1%	-3.8%	-1.3%	-3.4%	-3.4%	-1.5%
Interest coverage	24.47	53.54	over 100	77.29	over 100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€235,209	€11,452	€21,446	€12,887	€309,413
Financial fixed assets	-	-	-	€4,000	-
Depreciation and write-downs of the year	€85,981	€78,275	€85,675	€85,670	€101,943

Vermanic

Annual accounts 2025

Balance sheet

Change in equityin €m

Change in cashin euro

Position in the sector

Solvency80.7%

Current ratio2.62

Return on assets0.8%

Staff

Staff cost per FTE

Filed annual accounts

Filings

Key figures and ratios

Investments

Insights on Vermanic

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