Dr. Vermeulen Sofie: 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.
Dr. Vermeulen Sofie
Largest movements
- Cash +€48,324
up €48,324 (+34.3%), from €141,031 to €189,355
mainly Accrued charges and deferred income (+€64,360) and Net result for the year (+€50,842)
- Receivables within one year +€5,596
up €5,596 (+14.8%), from €37,805 to €43,402
of which Trade receivables: +€3,697
- Accrued charges and deferred income +€64,360
up €64,360 (+488%), from €13,200 to €77,560
- Other debts -€12,565
down €12,565 (-19.4%), from €64,708 to €52,143
- Gross operating margin -€11,494
down €11,494 (-14.8%), from €77,921 to €66,427
- Taxes -€1,899
down €1,899 (-11.9%), from €15,909 to €14,010
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 | €190,664 | €243,345 | +€52,681 | +27.6% |
| Fixed assets | 21/28 | €933 | €245 | -€688 | -73.7% |
| Tangible fixed assets | 22/27 | €933 | €245 | -€688 | -73.7% |
| Plant, machinery and equipment | 23 | €933 | €245 | -€688 | -73.7% |
| Current assets | 29/58 | €189,731 | €243,100 | +€53,369 | +28.1% |
| Amounts receivable within one year | 40/41 | €37,805 | €43,402 | +€5,596 | +14.8% |
| Trade receivables | 40 | €37,715 | €41,411 | +€3,697 | +9.8% |
| Other amounts receivable | 41 | €91 | €1,990 | +€1,899 | +2,091% |
| Cash at bank and in hand | 54/58 | €141,031 | €189,355 | +€48,324 | +34.3% |
| Deferred charges and accrued income | 490/1 | €10,894 | €10,343 | -€552 | -5.1% |
| Total equity and liabilities | 10/49 | €190,664 | €243,345 | +€52,681 | +27.6% |
| Equity | 10/15 | €111,987 | €111,987 | = | 0.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €109,987 | €109,987 | = | 0.0% |
| Distributable reserves | 133 | €109,987 | €109,987 | = | 0.0% |
| Amounts payable | 17/49 | €78,677 | €131,358 | +€52,681 | +67.0% |
| Amounts payable within one year | 42/48 | €65,477 | €53,798 | -€11,679 | -17.8% |
| Trade debts | 44 | €769 | €1,654 | +€885 | +115% |
| Suppliers | 440/4 | €769 | €1,654 | +€885 | +115% |
| Other amounts payable | 47/48 | €64,708 | €52,143 | -€12,565 | -19.4% |
| Accrued charges and deferred income | 492/3 | €13,200 | €77,560 | +€64,360 | +488% |
| Non-recurring operating income | 76A | - | €10,457 | +€10,457 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €998 | €688 | -€310 | -31.1% |
| Other operating charges | 640/8 | €829 | €740 | -€90 | -10.8% |
| Gross operating margin | 9900 | €77,921 | €66,427 | -€11,494 | -14.8% |
| Operating profit (loss) | 9901 | €76,094 | €64,999 | -€11,094 | -14.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €377 | €147 | -€230 | -60.9% |
| Recurring financial charges | 65 | €377 | €147 | -€230 | -60.9% |
| Profit (loss) for the period before taxes | 9903 | €75,717 | €64,852 | -€10,864 | -14.3% |
| Income taxes | 67/77 | €15,909 | €14,010 | -€1,899 | -11.9% |
| Profit (loss) for the period | 9904 | €59,807 | €50,842 | -€8,965 | -15.0% |
| Profit (loss) for the period to be appropriated | 9905 | €59,807 | €50,842 | -€8,965 | -15.0% |
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 25 October 2026 via checked.be.