Dr. Vermoesen: 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. Vermoesen
Largest movements
- Cash +€114,426
up €114,426 (+243%), from €47,141 to €161,567
mainly Net result for the year (+€129,821) and Other debts (+€36,459)
- Tangible fixed assets -€33,920
down €33,920 (-8.8%), from €383,997 to €350,076
of which Plant, machinery and equipment: -€17,103
- Deferred charges and accrued income +€19,198
up €19,198 (+40.6%), from €47,248 to €66,446
- Receivables within one year -€13,738
no longer reported in 2025 (was €13,738)
- Reserves +€49,821
up €49,821 (+55.1%), from €90,442 to €140,264
- Other debts +€36,459
up €36,459 (+182%), from €20,046 to €56,504
- Tax, wage and social debts +€27,406
up €27,406 (+473%), from €5,800 to €33,206
of which Taxes: +€33,206
- Debts after one year -€23,440
down €23,440 (-6.8%), from €345,087 to €321,647
- Gross operating margin +€201,708
up €201,708 (+799%), from €25,254 to €226,962
- Taxes +€40,293
up €40,293 (+3,192%), from €1,262 to €41,556
- Financial charges +€16,284
up €16,284 (+352%), from €4,633 to €20,917
- Depreciation +€15,686
up €15,686 (+86.0%), from €18,234 to €33,920
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 | €492,123 | €578,232 | +€86,108 | +17.5% |
| Fixed assets | 21/28 | €383,997 | €350,218 | -€33,778 | -8.8% |
| Tangible fixed assets | 22/27 | €383,997 | €350,076 | -€33,920 | -8.8% |
| Land and buildings | 22 | €324,271 | €308,058 | -€16,214 | -5.0% |
| Plant, machinery and equipment | 23 | €58,258 | €41,155 | -€17,103 | -29.4% |
| Furniture and vehicles | 24 | €1,467 | €863 | -€604 | -41.2% |
| Financial fixed assets | 28 | - | €142 | +€142 | |
| Current assets | 29/58 | €108,127 | €228,013 | +€119,886 | +111% |
| Amounts receivable within one year | 40/41 | €13,738 | - | -€13,738 | |
| Other amounts receivable | 41 | €13,738 | - | -€13,738 | |
| Cash at bank and in hand | 54/58 | €47,141 | €161,567 | +€114,426 | +243% |
| Deferred charges and accrued income | 490/1 | €47,248 | €66,446 | +€19,198 | +40.6% |
| Total equity and liabilities | 10/49 | €492,123 | €578,232 | +€86,108 | +17.5% |
| Equity | 10/15 | €93,442 | €143,264 | +€49,821 | +53.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €90,442 | €140,264 | +€49,821 | +55.1% |
| Distributable reserves | 133 | €90,442 | €140,264 | +€49,821 | +55.1% |
| Amounts payable | 17/49 | €398,681 | €434,968 | +€36,287 | +9.1% |
| Amounts payable after more than one year | 17 | €345,087 | €321,647 | -€23,440 | -6.8% |
| Financial debts | 170/4 | €345,087 | €321,647 | -€23,440 | -6.8% |
| Amounts payable within one year | 42/48 | €53,594 | €113,321 | +€59,727 | +111% |
| Current portion of amounts payable after more than one year | 42 | €22,688 | €23,440 | +€752 | +3.3% |
| Trade debts | 44 | €5,061 | €171 | -€4,890 | -96.6% |
| Suppliers | 440/4 | €5,061 | €171 | -€4,890 | -96.6% |
| Taxes, remuneration and social security | 45 | €5,800 | €33,206 | +€27,406 | +473% |
| Taxes | 450/3 | - | €33,206 | +€33,206 | |
| Remuneration and social security | 454/9 | €5,800 | - | -€5,800 | |
| Other amounts payable | 47/48 | €20,046 | €56,504 | +€36,459 | +182% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,234 | €33,920 | +€15,686 | +86.0% |
| Other operating charges | 640/8 | €256 | €821 | +€565 | +220% |
| Gross operating margin | 9900 | €25,254 | €226,962 | +€201,708 | +799% |
| Operating profit (loss) | 9901 | €6,764 | €192,221 | +€185,457 | +2,742% |
| Financial income | 75/76B | €12 | €73 | +€61 | +500% |
| Recurring financial income | 75 | €12 | €73 | +€61 | +500% |
| Financial charges | 65/66B | €4,633 | €20,917 | +€16,284 | +352% |
| Recurring financial charges | 65 | €4,633 | €20,917 | +€16,284 | +352% |
| Profit (loss) for the period before taxes | 9903 | €2,144 | €171,377 | +€169,233 | +7,893% |
| Income taxes | 67/77 | €1,262 | €41,556 | +€40,293 | +3,192% |
| Profit (loss) for the period | 9904 | €882 | €129,821 | +€128,940 | +14,622% |
| Profit (loss) for the period to be appropriated | 9905 | €882 | €129,821 | +€128,940 | +14,622% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.